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IRS proposes to treat weather, catastrophe and longevity derivatives as notional principal contracts

Newly proposed regulations from the U.S. Internal Revenue Service (IRS) could change the way certain over-the-counter derivative transactions are treated for taxation purposes. The proposal would generally allow for OTC derivatives which are based on objective non-financial information to qualify as notional principal contracts (NPC's).Law firm Sidley Austin LLP have read the full article →