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    How JPMorgan Chase & Co. (JPM), Citibank (C) & Others Avoid Taxes

    Repost
    IBTimes

    by IBTimes

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    John A. Germinario, chief executive officer of Global Securities Services Corporation (GSS), discusses depositary receipts and their negative effects on global investor portfolios. Global Securities Services Corporation, “The Depositary Receipt Watchdog,” so far has published two newsletters in 2013 claiming depositary banks have used U.S. taxpayer funds to buy depositary receipt programs.