Tax Partner Discusses Changes to Issue Price Rules

The Bond Buyer

Tax partner Chas Cardall participated on a panel at the National Association of Bond Lawyers' Tax and Securities Law Institute on the changes to issue price rules.

Cardall stated that “bond lawyers need to be realistic and acknowledge that there will be changes to the existing issue price rules. We're just not putting the toothpaste back in the tube. It's just not happening. I think as soon as all of us are sort of more realistic about where this is going, maybe we have a better conversation."

Cardall added that the purpose of the panel was to talk more broadly about the issue price question and hear the perspectives of the regulators and enforcers. The hope was to get a sense of how market participants and regulators may be able to move toward a compromise, he said.