Trends, Developments and Lessons Learned in Cost Basis Reporting

Thursday, May 18th @ 4:30PM EDT, New York, NY

With 2016 Tax Season coming to an end and the final pieces of the Emergency Economic Stabilization Act of 2008 cost basis regulations implemented, it is time to start thinking about what is next for cost basis.  What should your organization be focusing on now?  How may recent headlines affect your organization? “How can firms get the most out of their cost basis investments?”

Join industry experts Uri Benjamin and Jonathan Jackel, from Ernst & Young LLP, as they discuss some of the biggest challenges our industry is facing with cost basis reporting and how firms are addressing them.

This presentation will offer you insights into:

  • What to expect, in the market and from the IRS, given recent publicity about cost basis reporting issues
  • The risk and rewards involved in tax-loss harvesting and automated tax minimization
  • Trends Ernst & Young is seeing throughout the industry

Details:

Date: May 18th 2017
Time: 4:30  – 7:30 PM EDT
Where:  Lucky Strike 624-660 W. 42nd St. New York, NY 10036

Moderator:

CAmCameron Routh, Chief Commercial Officer Tax & Analytics
Scivantage

Cameron is responsible for the overall vision, leadership and management of Scivantage Maxit® and tax analytics products. Under his direction, Scivantage is developing the next generation of investment management applications, including pre-trade decision tools.  A financial services software industry veteran, Cameron co-founded GainsKeeper, an early cost basis vendor, in 1999. For Scivantage, Cameron incorporated the feedback from brokerages and mutual fund companies into the development of Maxit, the most comprehensive cost basis application available. He is now focused on bringing real-time, adjusted cost basis further into key investment tools such as after-tax performance reporting and portfolio rebalancing.

Presenters:

UriUri Benjamin, Senior Manager, Financial Services
Ernst & Young LLP

Uri is a member of EY’s Tax Reporting Operations Advisory team within the Financial Services Office. He focuses on reporting issues (Form 1099 and 1042). Recently, Uri has been focused on assisting both institutional and retail clients with cost basis reporting implementations across all three phases, developing business requirements for CBR phase 3b and integration with year-end reporting systems.  Prior to joining EY, Uri held positions in Operations at various financial institutions, including Barclays, Janney and Merrill Lynch, focusing on information reporting with a concentration in cost basis.  Uri has gained experience across multiple cost basis and tax reporting platforms throughout his career, and provides services ranging from industry point of views to current state assessments (both regulatory and operationally) and implementation of reporting solutions.

JonathanJonathan Jackel, Executive Director, Financial Services
Ernst & Young LLP

Jonathan Jackel is an executive director in the Financial Services Organization at EY. He was previously a partner at Burt, Staples & Maner in Washington, D.C.

Mr. Jackel’s practice includes the full range U.S. information reporting and withholding issues, primarily in the banking/capital markets, wealth management, and asset management areas. He has provided extensive advice on cost basis reporting issues, including such topics as debt instruments, options, wash sales, short sales, and securities lending.  He has been widely quoted as an expert on the Foreign Account Tax Compliance Act (FATCA), the Common Reporting Standard (CRS) and other tax issues and has contributed to Tax Notes International. He advises both domestic and foreign clients with respect to FATCA and CRS, and he has been a major contributor to the development of FATCA compliance tools.

Mr. Jackel joined EY in September 2015 after spending almost 19 years at BSM. He served as a trial attorney with the Tax Division of the U.S. Department of Justice from 1992-1996, and was a clerk for the Honorable Renato Beghe of the U.S. Tax Court prior to joining DOJ.

Agenda:

4:30-5:00 Welcome and Registration
5:00-6:00 Ernst & Young Presentations
6:00-7:30 Networking Reception & Bowling

Immediately following the presentation, there will be a reception at Lucky Strike, NY, where you can network with peers and colleagues and bowl a few frames with friends (limited space available).