The Senate Finance Committee turns its attention this week to writing tax legislation that could transform bank trust-department assets into a mutual-fund bonanza.

Committee Chairman Sen. William Roth, R-Del., has co-sponsored a bill with Sen. Max Baucus, D-Mont., that would allow the conversion of common trust assets to proprietary mutual fund shares without having to pay any capital-gains taxes.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.