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But the new reform allows retailers to make sufficient profits.
So the actual plan is much more complicated: Dividends will be tax-free only if the company that pays them is deemed to have paid sufficient profits taxes.
J.P. Morgan, Morgan Stanley, and CSFB have all had regulatory problems as well, but their main defect has been the inability to make sufficient profits with sufficient frequency.
"If the way Brexit ends up does not provide companies with the prospect of making sufficient profits to continue operating in the UK then of course all options are open to them".
An area of oil and gas exploration is said to be "played out" when it no longer yields sufficient profits, and much of Oklahoma was considered to have been played out in the nineteen-nineties.
A company has to have sufficient profits not just to pay the latest dividend, he explained, but also to expand the business so that it can pay future dividends, preferably in successively higher amounts.
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Also, he said, "if the plans do not make a sufficient profit, they may reduce benefits or withdraw from Medicare".
In addition, investors are dubious that these companies can turn a sufficient profit to justify the risk.
One rule is to ditch businesses that are about to become commoditised and no longer yield a sufficient profit margin.
"Can they get the cost down to leave sufficient profit?" said David E. Cole, the president of the Center for Automotive Research, an industry consulting and research firm.
Willing provider A then goes into administration/bankruptcy or the management decides there isn't sufficient profit in it and withdraws.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com