Fee Waiver Probe Has Uncertain Outlook

The investigation by Eric Schneiderman, New York state’s attorney general, into the private equity industry’s tax practices may have attracted a lot of publicity in recent days, yet it’s uncertain whether it will result in big financial settlements, according so sister news service Reuters. His action may be limited to whether private equity fund managers dodged paying the state’s top tax rate, currently at 8.82 percent, which applies to both ordinary income and capital gains.