Regulatory Outlook | 02.10.21
New York Financial Groups Urge State Leaders to Oppose Stock-Transfer Tax Proposal
Major financial exchanges and securities industry groups have urged New York state lawmakers to not support a proposal being pushed by some Democrats and unions to impose taxes on stock sales. In a letter to Gov. Andrew Cuomo and leaders of the state Assembly and Senate, the exchanges said any tax would prompt the relocation of securities industry firms and jobs out of New York and would also be passed along to investors and public pension funds.
Read the full article on Wall Street Journal.