Event Detail

Corporate Tax Evasion or Tax Avoidance? (Ended)

Understanding the Changing Global Tax Landscape and its Investment Implications

Date, Time, and Location:
Wednesday, December 16, 2015 (add this event to your Outlook Calendar)
4:00pm - 6:00pm
Residence Inn, 11 S LaSalle St, Chicago, IL  60603   (Driving Directions)

Program Description:
The USA, UK, European Union, and OECD have all announced plans to investigate and potentially modify the tax strategies used by US Multinationals to shift profits to countries with low tax rates.

2016 will be an important year as more details, potential fines, and new rules will be released. In this session, we will provide a closer look at the tax strategies at-risk to reforms such as transfer pricing, inversions and other loopholes utilized by US Multinationals to minimize their tax payments.

  • A global overview and comparison of corporate tax rates and policy to provide an explanation of how and why US Multinationals shift profits/taxes around the world.
  • Simplifying thousands of pages of tax code and proposals into the most relevant and important insights investors need to know.
  • How to identify and quantify the risk of tax reforms on companies' earnings and balance sheets.
  • Implications of OECD Base Erosion and Profit Sharing initiatives.
  • Key questions every investor should ask corporate managers regarding their tax policy and risk.
  • Some commentary on other in the news tax items such as inversions and spin outs

Barry Epstein - Epstein + Nach LLC; Principal
Anna Green - PwC Chicago; Tax Partner, Federal Tax Practice
Rob Wilson - MFS Investments; Investment Officer and Research Analyst

Ron Graziano, CPA - Credit Suisse HOLT; CS Accounting and Tax Expert

Members - $55 $45 or FREE with Function Ticket
Student Members - $55 $20
Non-Members - $55
Group Ticket Sales - $360 (8 guests, contact office directly)
(member pricing underwritten by CFA Chicago)

Attire: Business Casual

Menu: Beer, wine, sodas and light hors d'oeuvres

Registration: Online

4:00pm - 4:30pm - Registration & Networking
4:30pm - 6:00pm - Program

Hosted by: Education Advisory Group


Barry Epstein Barry Jay Epstein, Ph.D., CPA, CFF, is a Chicago-based financial reporting expert, author, and litigation consultant with over 40 years' experience as an accountant, auditor, lecturer, writer and financial executive. Dr. Epstein, with Epstein & Nach LLC, has consulted and/or testified as an expert witness for plaintiff and defense attorneys in over 120 cases. He has done substantial work for the Securities and Exchange Commission (SEC), the Department of Justice and other federal and state agencies. He is the author of many books and articles on GAAP, IFRS, and forensic accounting topics. Dr. Epstein graduated with a B.S.C in Accounting and Finance from DePaul University, an MBA in Accounting, Economics and Behavioral Sciences from University of Chicago, and a Ph.D. in Information Systems, Finance, and Statistical Decision Theory from the University of Pittsburgh.

Anna Green Anna Green is a Tax Partner in PwC Chicago's Industry Tax Practice providing a broad base of tax consulting, tax compliance, tax accounting legislative and regulatory developments to a number of multinational clients. She is primarily responsible for managing a large team of professionals providing tax accounting advice and large corporate compliance outsourcing and co-sourcing to help companies efficiently meet their regulatory and compliance requirements. Anna also works closely with companies to proactively plan and stay abreast of real-time developments. Prior to joining the practice in Chicago, Anna was a member of the Tax Policy Services group of the Washington National Tax Service (WNTS) practice of PwC. In this role, she was responsible for monitoring and consulting on pending and enacted tax legislation and regulations for a variety of clients. In addition to her legislative consulting, her role included analyzing federal, international and state tax developments for the firm's retainer based clients and providing tailored analysis and tax planning advice through interaction with Washington decision makers and the firm's extensive team of tax specialists. Prior to joining Washington National Tax, Anna was a Director in PwC's Industry Tax Practice in St. Louis, Missouri providing similar advice to a group of public and private equity owned corporations.

Anna holds a Masters of Accountancy in Taxation and a Bachelors of Accountancy from Southern Illinois University Carbondale. Anna has spoken across the country on legislative and regulatory policy developments at various events. Anna is a certified Public Accountant licensed in Illinois, District of Columbia, and Missouri and is a member of the AICPA.

Robert Wilson Robert M. Wilson, Jr., is an investment officer and research analyst at MFS Investment Management® (MFS®). His primary role involves working with the firm's analysts and portfolio managers to integrate environmental, social and governance (ESG) issues into the investment decision-making process. Rob is also responsible for developing thought leadership regarding the role that ESG integration should play in a long-term investment process. Rob joined MFS in 2013 after six years with American Century, where he most recently served as a senior equity analyst. Previously, Rob spent five years at Bain & Company, working as a manager in the Financial Planning & Analysis group. Rob earned a bachelor of science in business administration from Boston University and a Master of Business Administration from the University of Chicago.


Ron Graziano Ron Graziano is a Director at Credit Suisse and serves as the Global Accounting & Tax Strategist within the HOLT group. HOLT is an advisory service of Credit Suisse that offers its clients unique insights into corporate performance and valuation. Mr. Graziano is actively involved in writing research and consulting the firm's largest institutional investor clients on difficult accounting topics such as quality of earnings, International Financial Reporting Standards, corporate tax reforms, pensions, and cash deployment trends such as share buybacks vs dividends. Prior to joining Credit Suisse, Mr. Graziano was a Vice President at Ashton Partners, the nation's largest independent investor relations and strategic consulting firm, a financial consultant with Deloitte & Touché, and a senior auditor with KPMG. Mr. Graziano graduated with honors (summa cum laude) from Loyola University with a BA in Accounting, received his MBA (with honors) from DePaul University and is a CPA.

*Special Notes Regarding Fees:
Regular, Candidate, and Affiliate Members may apply function tickets as payment for Non-member or Student-Member. Credit card required to guarantee ALL reservations except for reservations using Function Tickets. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, Dec. 10.

Passport Program
Members of any CFA society may attend at the CFA Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.

Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.