Comment from Securities Industry and Financial Markets Association (SIFMA)
Securities Industry and Financial Markets Association (SIFMA)OpposeTrade association
Summary: The Securities Industry and Financial Markets Association (SIFMA) opposes the IRS proposal to treat personal investment advisors as "donor-advisors" subject to excise taxes on DAF investment fees. They argue that the proposal exceeds statutory authority, lacks empirical data, and ignores the existing fiduciary duties and regulatory oversight already governing these advisors.
Securities Industry and Financial Markets Association (SIFMA)