Portfolio Insurance Companies
Presenters:
Tom Jones (McDermott Will & Emery) (bio)
T.C. Leshikar (KPMG) (bio)
Paul Scrivener (Solomon Harris) (bio)
Description/Overview:
A panel comprising Tom Jones (McDermott Will & Emery), T.C. Leshikar (KPMG) and Paul Scrivener (Solomon Harris) will take a look at the structural, financial accounting and U.S. federal tax aspects of portfolio insurance companies (PICs) based upon their practical initial experience in dealing with Cayman’s newest vehicle.
In what will hopefully be an interactive session with those attending, areas to be covered will include:-
• A quick overview of what a PIC is and how it is used.
• A look at PICs set up so far and under consideration.
• Typical structuring, including share rights and the relationship between the PIC board and the SPC board.
• The inherent tension between economic ownership and control of the PIC.
• Treatment of PICs and PIC owners under the Internal Revenue Code, including controlled foreign corporation imputed income provisions, onshore tax election and 831(b) election.
• U.S. federal tax consolidation.
• Federal tax compliance – who files what IRS forms.
• Financial accounting consolidation.
Who Should Attend:
Auditors and Industry Professionals
CPD Credits: 1.5
Prerequisites: None
Costs:
CIIPA Members: CI$60.00
Non CIIPA Members: CI$80.00
Refunds and cancellations: Cancellations and requests for refunds must be emailed to admin@cispa.ky. Refunds will be given if cancellation notice is received before 9 May. For more information regarding refund, complaint and/or cancellation contact 345-749-3360.