Gary Brown, '80, testifies before Senate committee about tax shelters and offshore tax havens

Gary Brown

Gary M. Brown, chair of the Corporate Department of Baker, Donelson, Bearman, Caldwell & Berkowitz, appeared before the United States Senate's Permanent Subcommittee on Investigations (PSI), chaired by Senator Norm Coleman (R-MN) to provide testimony on how offshore tax havens and tax shelters are used to circumvent compliance with U.S. securities laws on August 1. PSI's hearing, which received widespread coverage in the national media, was entitled "Offshore Abuses: The Enablers, the Tools and Offshore Secrecy," and was the latest in a series of reports and hearings by PSI focusing on the use of offshore trusts and corporations to circumvent U.S. tax, securities and anti-money laundering laws.

Brown, who has served on the Vanderbilt Law School's adjunct faculty since 1994, had provided technical advice to the PSI staff on securities related issues and was asked to appear during the Committee's hearing s because of his expertise and experience in U.S. federal securities laws. During 2002, he served as Special Counsel (Minority) to the PSI during its investigation into the collapse of Enron Corp. and provided advice on aspects of what became the Sarbanes-Oxley Act of 2002.