FINANCIAL TRANSACTIONS 1111 Tax Lawyer, Vol. 53, No. 4 FINANCIAL TRANSACTIONS SUBMITTED BY THE COMMITTEE ON FINANCIAL TRANSACTIONS: DAVID C. GARLOCK, COMMITTEE CHAIR; ALAN L. KENNARD AND MATTHEW A. STEVENS, SUBCOMMITTEE CO-CHAIRS ON CURRENT DEVELOPMENTS* Legislation Constructive Ownership Rules Enacted Under section 1260, added by the Tax Relief Extension Act of 1999, Pub. L. No. 106-170, § 534(a), 113 Stat. 1860 (1999), taxpayers who make derivative investments in certain financial assets are...