Due to slow progress in signing IGA’s. Will this happen. I say its 50/50. IRS/Treasury probably listens to SIFMA more than any other group because of its domestic US political influence. Its also very notable that SIFMA is pointing to a long list of very specific promises by made the IRS to the banking industry that have not been met on time at all. SIFMA is also basically predicting a huge mess come January 1 2014 if the IRS goes ahead at this point.
Will there be a change in the effective date. As I said its 50/50. The IRS might also feel this is a now or never moment.