FIA submitted a letter to the Department of the Treasury today in response to Executive Order 13777 which calls for feedback on regulations that should be modified or eliminated.
The application of Internal Revenue Code (IRC) section 871(m) to exchange-traded futures and options on futures contracts in securities and securities indices has presented significant compliance challenges and imposed costs that exceed any potential benefits. As such, FIA called on Treasury to provide relief from the excessive complexity by withdrawing or modifying the regulations.
The full letter is available in Resources on the right.
