The Securities Industry Association (SIA)* provides comments to the Internal Revenue Service (IRS) on new temporary and proposed regulations relating to disclosure and listing of tax shelter transactions. SIA suggests that the disclosure and listings regulations be clarified with regard to the circumstances in which reporting and list maintenance are required for reportable transactions entered into by controlled foreign corporations (CFCs), qualified electing funds (QEFs), passive foreign investment (PFIs) and foreign personal holding companies (FPHCs).

*SIFMA is the product of a merger between the Securities Industry Association (SIA)* and The Bond Market Association (TBMA) in 2006.