Investor Protection Act of 2009

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislative and regulatory measures and Congressional studies affecting the hedge fund industry and other alternative investments. S. 447 Prevent Excessive Speculation Act S. 344 Hedge Fund Transparency Act S.298 Financial Markets Commission Act S. 272 Derivatives Trading Integrity Act H.R. 977 Derivatives Markets Transparency and Accountability Act H.R.711 Hedge Fund Adviser Registration Act H.R.713 Hedge Fund Study Act S. 1276 Private Fund Transparency Act H.R. 3269 Corporate and Financial Institution Compensation Act H.R. 3126 Consumer Financial Protection Agency H.R. 3817 Investor Protection Act H.R. 3818 Private Fund Investment Advisers Registration Act H.R.4173 The Wall Street Reform and Consumer Protection Act S. 961 Authorizing the Regulation of Swaps Act H.R. 3145 Credit Default Swap Prohibition Act H.R. 3300 The Derivatives Trading Accountability and Disclosure Act H.R. 3996 Financial Stability Improvement Act S. 1961 Comprehensive Derivatives Regulation Act H.R. 3795 Over-the-Counter Derivatives Markets Act S. 2927 Wall Street Fair Share Act S. 3217 Restoring American Financial Stability Act

Client expense: $1,090,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislative and regulatory measures and Congressional studies affecting the hedge fund industry and other alternative investments. S. 447 Prevent Excessive Speculation Act S. 344 Hedge Fund Transparency Act S.298 Financial Markets Commission Act S. 272 Derivatives Trading Integrity Act H.R. 977 Derivatives Markets Transparency and Accountability Act of 2009 H.R.711 Hedge Fund Advisor Registration Act of 2009 H.R.713 Hedge Fund Study Act S. 1276 Private Fund Transparency Act of 2009 H.R. 3269 Corporate and Financial Institution Compensation Act of 2009 H.R. 3126 Consumer Financial Protection Agency H.R. 3817 Investor Protection Act H.R. 3818 Private Fund Investment Advisers Registration Act H.R.4173 The Wall Street Reform and Consumer Protection Act of 2009 S. 961 Authorizing the Regulation of Swaps Act H.R. 3145 Credit Default Swap Prohibition Act of 2009 H.R. 3300 The Derivatives Trading Accountability and Disclosure Act of 2009 H.R. 3996 Financial Stability Improvement Act S. 1961 Comprehensive Derivatives Regulation Act of 2009 H.R. 3795 Over-the-Counter Derivatives Markets Act of 2009 S. 2927 Wall Street Fair Share Act S. 3217 Restoring American Financial Stability Act of 2010

Client expense: $1,070,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 200 (Helping Families Save Their Homes in Bankruptcy Act); H.R. 225 (Emergency Homeownership and Equity Protection Act); H.R. 230 (Housing Opportunity and Mortgage Equity Act of 2009) (foreclosure avoidance and loan modifications); H.R. 384 (TARP Reform and Accountability Act); H.R. 703 (Legislation to promote bank liquidity and lending through deposit insurance, the HOPE for Homeowners Program, and other enhancements); H.R. 786 (To make permanent the temporary increase in deposit insurance coverage, and for other purposes); H.R. 787 (to make improvements in the Hope for Homeowners Program) (foreclosure avoidance and loan modifications); H.R. 788 (To provide a safe harbor for mortgage servicers who engage in specified mortgage loan modifications, and for other purposes); H.R. 1020 (Arbitration Fairness Act of 2009); H.R. 1106 (Helping Families Save Their Homes Act) (foreclosure avoidance and loan modifications); H.R. 1728 (To amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, to provide certain minimum standards for consumer mortgage loans, and for other purposes) (mortgage reform); H.R. 1731 (Credit Risk Retention Act); H.R. 1758 (Mortgage Reform and Anti-predatory Lending Act of 2009); H.R. 3269 (Corporate and Financial Institution Compensation Fairness Act of 2009); H.R. 3451 (To require mortgagees for mortgages in default to engage in reasonable loss mitigation activities); H.R. 3606 (Consumer Financial Protection Agency Act); H.R. 3817 (Investor Protection Act)(Arbitration, Broker-Dealer Standard of Care, SRO Rulemaking); H.R. 3996 (The Financial Stability Improvement Act of 2009); H.R. 4173 (Dodd-Frank Wall Street Reform and Consumer Protection Act)(Fiduciary Duty, Arbitration Clauses, Custody of Client Assets, Securities Litigation); S. 61 (Helping Families Save Their Homes in Bankruptcy Act); S. 376 (Real Estate Mortgage Investment Conduit Improvement Act of 2009); S. 896 (Helping Families Save Their Homes Act); S. 931 (Arbitration Fairness Act of 2009); S. 1073 (Rating Accountability and Transparency Enhancement Act of 2009); S. 1540 (To provide for enhanced authority of the FDIC to act as receiver for certain affiliates of depository institutions); S. 1731 (To require certain mortgages to make loan modifications and establish grant programs for state and local government mediation programs); S. 2886 (Bank Integrity Retention Act); S. 3217 (Investor Protection Act)(Arbitration, Broker-Dealer Standard of Care, SRO Rulemaking); Housing Affordability and Stability Plan; Student loans (special allowance payment rates); Credit Rating Agency Reform; Government Sponsored Enterprise Reform (GSE).

Client expense: $1,280,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Natl Economic Council (NEC), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 302 (To require the Securities and Exchange Commission to reinstate the uptick rule on short sales of securities); H.R. 1260 (Patent Reform Act); H.R. 1020 (Arbitration Fairness Act of 2009); H.R. 1575 (End Government Reimbursement of Excessive Executive Disbursements (End GREED) Act); H.R. 1664 (To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards) (restrictions on compensation); H.R. 1669 (To require the Secretary of the Treasury to establish a market for municipal securities, to require cooperation between the Secretary and the Chairman of the Board of Governors of the Federal Reserve System in addressing the municipal securities market situation including through the establishment of municipal securities funding facilities, and for other purposes); H.R. 1731 (Credit Risk Retention Act); H.R. 1944 (Active Financing Rules); H.R. 2221 (Data Accountability and Trust Act); H.R. 2549 (The Municipal Bond Fairness Act); H.R. 2550 (The Municipal Advisers Regulation Act); H.R. 2551 (The Municipal Market Liquidity Enhancement Act of 2009); H.R. 2589 (The Municipal Bond Insurance Enhancement Act of 2009); H.R. 2798 (Securities Investor Protection Corporation (SIPC) Reform Act of 2009); H.R. 2847 (Hiring Incentives to Restore Employment Act); H.R. 2896 (Equal Treatments Of Covered Bonds Act of 2009); H.R. 3005 (National Institute of Finance Act of 2010); H.R. 3126 (Consumer Financial Protection Agency Act of 2009); H.R. 3145 (Credit Default Swap Prohibition Act of 2009); H.R. 3269 (Corporate and Financial Institution compensation Fairness Act of 2009); H.R. 3306 (to enhance Social Security account number privacy protections); H.R. 3310 (To reform the financial regulatory system of the United States); H.R. 3817 (Investor Protection Act of 2009); H.R. 3818 (Private Fund Investment Advisers Registration Act of 2009); H.R. 3890 (Accountability and Transparency in Rating Agencies Act); H.R. 4173 (Dodd-Frank Wall Street Reform and Consumer Protection Act)(Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion)); H.R. 4191 (Wall Street Fair Share Act); H.R. 4872 (The Reconciliation Act of 2010); H.R. 4884 (U.S. Covered Bond Act of 2010); H.R. 5777 ("Building Effective Strategies to Promote Responsibility Accountability Choice Transparency Innovation Consumer Expectations and Safeguards Act," or the "Best Practices Act"); H.R. 5927 (Small Business Lending Fund Act); S. 139 (Data Breach Notification Act); S. 386 (Fraud Enforcement and Recovery Act); S. 515 (Patent Reform Act); S. 651 (Compensation Fairness Act of 2009); S. 773 (Cyber Security Act of 2009); S. 931 (Arbitration Fairness Act of 2009); S. 961 (Authorizing the Regulation of Swaps Act); S. 1490 (Personal Data Privacy and Security Act of 2009); S. 1551 (Liability for Aiding and Abetting Securities Violations of 2009); S. 1682 (to provide the CFTC with antimarket manipulation authority); S. 1683 (Pay It Back Act); S. 2886 (Bank Integrity Act of 2009) (Glass-Steagall Repeal); S. 2927 (Wall Street Fair Share Act); S. 3005 (National Institute of Finance Act of 2010); S. 3217 (Governmental Accounting Standards Board (GASB) Funding)(Regulatory Capital Requirements, systemic risk regulation and liquidation authority); S. Amdt. 3792 (Fiduciary Duty); S. Amdt. 4057 (Governmental Accounting Standards Board (GASB) Funding); 2011 Financial Services Appropriations, Subcommittee on Financial Services and General Government (Amendment relating to SIPC coverage); Restoring American Financial Stability Act of 2010: Title I (Financial Stability); Title II (Resolution Authority); Title IX ( Asset-Backed Securitization); Title X (Broker-Dealer Standard of Care); Title IX (FED Lending and Fiscal Policy Functions); Resolution Authority for Systemically Significant Financial Companies Act of 2009; Systemic Risk Regulation and liquidation authority; Troubled Asset Backed Securities Loan Facility (H-1B); State Regulation of Credit Default Swaps as Insurance; PPIP Investor and Asset Manager Requirements; China - strategic and economic dialog; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Bilateral Investment Treaties, India; Asian Pacific Economic Council Privacy Issues; Transpacific Partnership; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; EU Alternative Investment Fund Managers Proposal (AIFM); Basel Capital Rules; G-20 (Issues related to the November 15, 2008 "Washington Action Plan"); Government Sponsored Enterprises (GSE) Reform; Regulatory Capital Requirements; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; FY2011 House Financial Services Appropriations bill.

Client expense: $1,280,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Natl Economic Council (NEC), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

Proxy access issues. Issues relating to executive compensation and shareholder votes. S. 1074, Shareholder Bill of Rights Act of 2009. H.R. 2861, Shareholder Empowerment Act of 2009. Corporate governance in general. H.R. 3817, the Investor Protection Act of 2009. Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203); Title IX.

Client expense: Not reported · Firm income: $90,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)

Proxy Access issues. Issues relating to executive compensation and shareholder votes. S. 1074, Shareholder Bill of Rights Act of 2009. H.R. 2861, Shareholder Empowerment Act of 2009. Corporate governance in general. H.R. 3817, the Investor Protection Act of 2009. Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203); Title IX.

Client expense: Not reported · Firm income: $90,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)

H.R. 384 - TARP Reform and Accountablity Act of 2009 H.R. 387 - TARP Accountability Act of 2009 S. 235 - Credit Cardholders Bill of Rights Act of 2009 S. 386 - An Act to improve enforcement of mortgage fraud, securities and commodities fraud, financial institution fraud, and other frauds related to Federal assistance and relief programs, for the recovery of funds lost to these frauds, and for other purposes. S. 566 - A bill to create a Financial Product Safety Commission, to provide consumers with stronger protections and better information in connection with consumer financial products, and to give providers of consumer financial products more regulatory certainty. S. 664 - A bill to create a systemic risk monitor for the financial system of the United States, to oversee financial regulatory activities of the Federal Government, and for other purposes. S. 961 - A bill to authorize the regulation of credit default swaps and other swap agreements, and for other purposes. H.R. 3763 - A bill to amend the Fair Credit Reporting Act. H.R. 3639 - To amend the Credit Card Accountability Responsibility and Disclosure Act of 2009 to establish an earlier effective date for various consumer protections and for other purposes. H.R. 3606 - To amend the Truth in Lending Act to make a technical correction to an amendment made by the Credit CARD Act of 2009. H.R. 4173 - Wall Street Reform and Consumer Protection Act of 2009 H.R. 3996 - Financial Stability Improvement Act H.R. 2266 - Reasonable Prudence in Regulation Act H.R. 3904 - Overdraft Protection Act H.R. 3126 - Consumer Financial Protection Agency Act H.R. 2382 - Credit Card Interchange Fees Act of 2009 H.R. 3817 - Potential amendment to the Investor Protectin Act that would roll-back he Supreme Court's Stoneridge decision. No bill number - Section 984 of the discussion draft of the Restoring American Financial Stability Act of 2009 S. 3217 - Restoring American Financial Stability Act of 2010

Client expense: $1,202,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 1020, Arbitration Fairness Act of 2009 HR 1754, The Financial System Stabilization and Reform Act of 2009 S 664, The Financial System Stabilization and Reform Act of 2009 HR 1106, The Helping Families Save Their Homes Act of 2009 HR 1728, The Mortgage Reform and Anti-Predatory Lending Act of 2009 HR 1327, Iran Sanctions Enabling Act HR 977, The Derivatives Markets Transparency and Accountability Act of 2009 HR 3126, The Consumer Financial Protection Agency Act 2009 HR 3795, The Over the Counter Derivatives Markets Act of 2009 HR 3310, Financial Services Regulatory Reform HR 3300, Derivative Trading Accountability and Disclosure Act of 2009 HR 977, The Derivatives Markets Transparency and Accountability Act of 2009 S 272, The Derivatives Trading Integrity Act of 2009 HR 2382, The Credit Card Interchange Fees Act of 2009 HR 4173, The Wall Street Reform and Consumer Protection Act of 2009 HR 3890, The Accountability and Transparency in Rating Agencies Act HR 3817, Investor Protection Act of 2009 HR 3996, Financial Stability Improvement Act of 2009 Bank Tax HR 5381, Motor Vehicle Safety Act of 2010 S 3217, Restoring American Financial Stability Act S 3675, The Small Business Jobs Preservation Act of 2010 HR 5823, United States Covered Bond Act of 2010

Client expense: $7,240,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Defense, Dept of (DOD), Energy, Dept of, Environmental Protection Agency (EPA), Executive Office of the President (EOP), Federal Aviation Administration (FAA), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Office of Management & Budget (OMB), Patent & Trademark Office (PTO), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Transportation Security Administration (TSA), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA)

H.R. 3126, Consumer Financial Protection Agency Act of 2009; issues related to Federal Trade Commission and applicability to telecommunications and information service providers H.R. 3817, Investor Protection Act of 2009; issues related to applicability to telecommunications and information service providers H.R. 4173, Restoring American Financial Stability Act of 2010; issues related to Federal Trade Commission and applicability to telecommunications and information service providers. S. 3217, Securing Americas Financial Stability Act of 2010 (issues related to FTC and Consumer Financial Protection Agency jurisdiction over telecommunications and information service providers)

Client expense: $2,330,000 · Firm income: Not reported

Government targets: Executive Office of the President (EOP), Federal Communications Commission (FCC), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Natl Telecommunications & Information Administration (NTIA), SENATE

Financial regulatory reform issues including proposals to reform credit rating agencies, regulate systemic risk, combine the Office of Thrift Supervision and the Office of the Comptroller of the Currency, subject saving and loan holding companies to Federal Reserve oversight, establish a resolution authority for non-banks, SEC and CFTC regulation and taxation of derivatives, liability issues, proprietary trading, credit scoring, creation of a Consumer Financial Protection Agency, and the creation of a Federal Insurance Office as well as implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. S.664 / H.R.1754 Financial System Stabilization and Reform Act of 2009 S.386 Fraud Enforcement and Recovery Act of 2009 provisions regarding senior designations and a bipartisan financial crisis inquiry commission S.664 / H.R.1754 Financial System Stabilization and Reform Act H.R.627 Truth in Lending Act S.A.1077, Menendez amendment regarding credit to S.A.1058, Dodd amendment H.R.3126 Consumer Financial Protection Agency Act of 2009 clarification of business of insurance reference H.R.3817 The Investor Protection Act of 2009 harmonization of standard of care S.1691 - Comprehensive Derivatives Regulation Act of 2009 derivative end user issues H.R.3135 - Over-the-Counter Derivatives Markets Act of 2009 derivative end user issues H.R.2609 Insurance Information Act of 2009 / Federal Insurance Office Act of 2009 all provisions Restoring American Financial Stability Act of 2009 (discussion draft) all provisions H.R.3996 Financial Stability Improvement Act of 2009 all provisions The Wall Street Transparency & Accountability Act of 2010 (Proposed bill, then inserted into S.3217) S. 3217- Restoring American Financial Stability Act of 2010 all provisions H.R.4173 Dodd-Frank Wall Street Reform and Consumer Protection Act All Provisions / Implementation S.3098 - Protect Our Recovery Through Oversight of Proprietary Trading Act of 2010 (PROP Trading Act) treatment of insurers general accounts Financial Crisis Responsibility Fee (Administration Proposal) revenue provisions

Client expense: $710,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

Support for globally consistent accounting standards; Support for independent accounting standard setting process; Support for use of fair value accounting; HR 607 - fair value accounting; HR 1212 - Public Company Accounting Oversight Board, oversight of auditors of brokers and dealers; HR 1349 - Accounting principles and Standards Oversight Board; HR 1406 - mark-to-market accounting principles, section 3; HR 1797 - To amend the Sarbanes-Oxley Act of 2002; HR 1909 - mark-to-market accounting; HR 3126 - Consumer Financial Protection Agency; HR 3817 - The Investor Protection Act; HR 3346 - To amend the Sarbanes-Oxley Act of 2002 to permit the sharing of confidential supervisory information with foreign auditor oversight bodies; HR 4173 - Wall Street Reform and Consumer Protection Act of 2009; S 3217 - Restoring American Financial Stability Act of 2010; Dodd-Frank Wall Street Reform and Consumer Protection Act

Client expense: $530,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 83. Homeowners Insurance Protection Act (entire bill) H.R. 308/ S. 1364. Hurricane and Tornado Mitigation Investment Act (entire bills) H.R. 1583. To further competition in the insurance industry (Repeals McCarran-Furguson Act) (entire bills) H.R 327/ S. 1485. National Hurricane Research Initiative Act (entire bill) H.R. 988/ S. 1486. Policyholder Disaster Protection Act (entire bill) H.R. 1239. Property Mitigation Assistance Act (entire bill) H.R. 1264. Multi Peril Insurance Act (entire bill) S. 505. Homeowners Defense Act (entire bill) H.R. 1880. National Insurance Consumer Protection Act (entire bill) H.R. 1754/ S.664. Financial System Stabilization and Reform Act of 2009 (entire bill) S. 886. Catastrophe Obligation Guarantee Act (entire bill) H.R. 2555. Homeowners Defense Act of 2009 (entire bill) H.R. 2554. National Association of Registered Agents and Brokers Reform Act (entire bill) H.R. 2571/ S. 1363. Non-admitted and Reinsurance Reform Act H.R. 2609. Insurance Information Act (entire bill) H.R. 3596/ S. 1681. Health Insurance Industry Antitrust Enforcement Act (entire bill) S.1484. Catastrophe Savings Account Act (entire bill) S. 1487. Commission on Catastrophic Disaster Risk and Insurance Act (entire bill) H.R. 3139. National Flood Insurance Program Extension Act (entire bill) H.R. 3126/ H.R. 3639. Consumer Financial Protection Agency Act S. 1540. Resolution Reform Act of 2009 H.R. 4173. Wall Street Reform and Consumer Protection Act of 2009. (entire bill) H.R. 3817. Investor Protections Act of 2009. (entire bill) H.R. 3818. Private Fund Investment Advisors Registration Act of 2009. (entire bill) H.R. 3996. Financial Stability Improvement Act. (entire bill) S. 3217. Restoring America's Financial Stability Act (entire bill) H.R. 4778. National Flood Insurance Program Extension Act (entire bill) H.R. 4802. Risk Retention Modernization Act (entire bill) H.R. 4626. Health Insurance Industry Fair Competition Act (entire bill) H.R. 5114. Flood Insurance Reform Priorities Act (entire bill) H.R. 5255. Stable Flood Insurance Authorization Act (entire bill) S. 3347. To extend the NFIP though December 31, 2010 (entire bill) S. 3814. National Flood Insurance Program Re-extension Act (entire bill) S. 3685. Insurance Competition and Transparency Act (entire bill) S. 3546. Cheaper Car Insurance Act (entire bill)

Client expense: $310,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Transportation, Dept of (DOT), Treasury, Dept of

H.R. 2221, Data Accountability and Trust Act, all provisions. H.R. 1106, Helping Families Save Their Homes Act of 2009, all provisions. H.R. 2554, National Association of Registered Agents and Brokers Reform Act, all provisions. H.R. 3996, The Financial Stability Improvement Act of 2009, all provisions. S. 2832, Lifetime Income Disclosure Act, all provisions S. 3217 An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes. H.R. 1106, Helping Families Save Their Homes Act of 2009, all provisions H.R. 3126, Consumer Financial Protection Agency Act of 2009, all provisions H.R. 3817, Investor Protection Act of 2009, all provisions H.R. 3890, Accountability and Transparency in Credit Rating Agencies Act of 2009, all provisions H.R. 3795, Over The Counter Derivatives Market Act, all provisions H.R. 3763, A Bill to Amend the Fair Credit Reporting Act to Provide for an Exclusion from Red Flag Guidelines for Certain Businesses, all provisions H.R. 4173, Financial Regulatory Reform, all provisions/ The Wall Street Reform and Consumer Protection Act of 2009, all provisions H.R. 4868, Housing Preservation and Tenant Protection Act of 2010, all provisions H.R. 5072, The FHA Reform Act of 2010, all provisions H.R. 2861, Shareholder Empowerment Act of 2009, all provisions H.R. 1479, H.R. 2896 Community Reinvestment Modernization Act of 2009, all provisions H.R. 6334, American Community Investment Reform Act of 2010, all provisions [No Bill Number], Securitization Reform, all provisions [No Bill Number], Restoring American Financial Stability Act of 2009 [No Bill Number], Financial Crisis Responsibility Fee [No Bill Number], Residential Mortgage Backed Securities [No Bill Number], Commercial Mortgage Backed Securities [No Bill Number], Government Sponsored Enterprise Reform

Client expense: $2,180,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 2221, Data Accountability and Trust Act, all provisions. H.R. 1106, Helping Families Save Their Homes Act of 2009, all provisions. H.R. 2554, National Association of Registered Agents and Brokers Reform Act, all provisions. H.R. 3996, The Financial Stability Improvement Act of 2009, all provisions. S. 2832, Lifetime Income Disclosure Act, all provisions S. 3217 An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes. H.R. 1106, Helping Families Save Their Homes Act of 2009, all provisions H.R. 3126, Consumer Financial Protection Agency Act of 2009, all provisions H.R. 3817, Investor Protection Act of 2009, all provisions H.R. 3890, Accountability and Transparency in Credit Rating Agencies Act of 2009, all provisions H.R. 3795, Over The Counter Derivatives Market Act, all provisions H.R. 3763, A Bill to Amend the Fair Credit Reporting Act to Provide for an Exclusion from Red Flag Guidelines for Certain Businesses, all provisions H.R. 4173, Financial Regulatory Reform, all provisions/ The Wall Street Reform and Consumer Protection Act of 2009, all provisions H.R. 4868, Housing Preservation and Tenant Protection Act of 2010, all provisions H.R. 5072, The FHA Reform Act of 2010, all provisions H.R. 2861, Shareholder Empowerment Act of 2009, all provisions H.R. 1479, H.R. 2896 Community Reinvestment Modernization Act of 2009, all provisions H.R. 6334, American Community Investment Reform Act of 2010, all provisions H.R. 5943, Community Recovery Enhancement Act, all provisions H.R. 5823, U.S. Covered Bond Act of 2010 [No Bill Number], Securitization Reform, all provisions [No Bill Number], Restoring American Financial Stability Act of 2009 [No Bill Number], Financial Crisis Responsibility Fee [No Bill Number], Residential Mortgage Backed Securities [No Bill Number], Commercial Mortgage Backed Securities [No Bill Number], Housing Reform

Client expense: $2,000,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 2221, Data Accountability and Trust Act, all provisions. H.R. 1106, Helping Families Save Their Homes Act of 2009, all provisions. H.R. 2554, National Association of Registered Agents and Brokers Reform Act, all provisions. H.R. 3996, The Financial Stability Improvement Act of 2009, all provisions. S. 2832, Lifetime Income Disclosure Act, all provisions S. 3217 An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes. H.R. 1106, Helping Families Save Their Homes Act of 2009, all provisions H.R. 3126, Consumer Financial Protection Agency Act of 2009, all provisions H.R. 3817, Investor Protection Act of 2009, all provisions H.R. 3890, Accountability and Transparency in Credit Rating Agencies Act of 2009, all provisions H.R. 3795, Over The Counter Derivatives Market Act, all provisions H.R. 3763, A Bill to Amend the Fair Credit Reporting Act to Provide for an Exclusion from Red Flag Guidelines for Certain Businesses, all provisions H.R. 4173, Financial Regulatory Reform, all provisions/ The Wall Street Reform and Consumer Protection Act of 2009, all provisions H.R. 4868, Housing Preservation and Tenant Protection Act of 2010, all provisions H.R. 5072, The FHA Reform Act of 2010, all provisions H.R. 2861, Shareholder Empowerment Act of 2009, all provisions H.R. 1479, H.R. 2896 Community Reinvestment Modernization Act of 2009, all provisions H.R. 6334, American Community Investment Reform Act of 2010, all provisions H.R. 5943, Community Recovery Enhancement Act, all provisions H.R. 5823, U.S. Covered Bond Act of 2010 [No Bill Number], Securitization Reform, all provisions [No Bill Number], Restoring American Financial Stability Act of 2009 [No Bill Number], Financial Crisis Responsibility Fee [No Bill Number], Residential Mortgage Backed Securities [No Bill Number], Commercial Mortgage Backed Securities [No Bill Number], Housing Reform

Client expense: $2,000,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)

S. 1551 / H.R. 5042, Liability for Aiding and Abetting Securities Violations Act of 2009 H.R. 2309, Consumer Credit Protection Agency Act, provisions relating to the state attorney general enforcement H.R. 3126, Consumer Financial Protection Agency Act of 2009 H.R. 3817, Investor Protection Act of 2009, including a potential amendment that would roll-back the Supreme Court's Stoneridge decision H.R. 4173 / S. 3217, Dodd-Frank Wall Street Reform and Consumer Protection Act, provisions related to Representative Bean's preemption amendment H.R. 1214, The Payday Loan Reform Act of 2009 H.R. 991, Consumer Fairness Act of 2009 H.R. 3451, Foreclosure Prevention and Sound Mortgage Servicing Act of 2009 H.R. 1728, Mortgage Reform and Anti-Predatory Lending Act H.R. 4790, Shareholder Protection Act of 2010 S. Amend. 3893, 3894, 3895, 111th Cong. (2010), and all provisions of amendments dealing with securities litigation, State AG enforcement/contingency fees, and arbitration General background on U.S. capital markets competitiveness and regulation, securities litigation, and P.L. 104-67, Private Securities Litigation Reform Act of 1995 Potential legislation dealing with attorney pay-to-play issues in securities litigation (specific legislation not yet introduced)

Client expense: $14,490,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)

S. 437 / H.R. 2519, a bill to amend the Internal Revenue Code of 1986 to allow the deduction of attorney-advanced expenses and court costs in contingency fee cases, provisions dealing with deductibility of contingency fee agreements S. 585, Taxpayer Abuse Prevention Act, provisions dealing with arbitration S. 3675 Small Business Jobs Preservation Act of 2010, provisions dealing with a draft asbestos amendment H.R. 4213, Unemployment Compensation Extension Act of 2010, including S. Amend. 4344 / 4324 and all provisions dealing with denying the deductibility of punitive damages (previously known as the American Jobs and Closing Tax Loopholes Act of 2010) H.R. 3817, Investor Protection Act of 2009 Various issues relating to the FDIC Insurance on Lawyers Trust Accounts, and a possible Department of Treasury ruling regarding deductibility of contingency fee agreements

Client expense: $14,490,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)

H.R. 3817, Investor Protection Act, provisions concerning the Supreme Court's StoneRidge decision; S. 445, Attorney-Client Privilege Protection Act of 2009, provisions regarding privileged communications and attorney work product; H.R. 4115, Open Access to Court Act, including provisions prohibiting a U.S. district court from dismissing a complaint; S. 1504, Notice Pleading Restoration Act of 2009, regarding Federal Court notice pleading

Client expense: Not reported · Firm income: $110,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislative and regulatory measures and Congressional studies affecting the hedge fund industry and other alternative investments. S. 447 Prevent Excessive Speculation Act S. 344 Hedge Fund Transparency Act S.298 Financial Markets Commission Act S. 272 Derivatives Trading Integrity Act H.R. 977 Derivatives Markets Transparency and Accountability Act H.R.711 Hedge Fund Adviser Registration Act H.R.713 Hedge Fund Study Act S. 1276 Private Fund Transparency Act H.R. 3269 Corporate and Financial Institution Compensation Act H.R. 3126 Consumer Financial Protection Agency H.R. 3817 Investor Protection Act H.R. 3818 Private Fund Investment Advisers Registration Act H.R.4173 The Wall Street Reform and Consumer Protection Act H.R. 4173 Dodd-Frank Wall Street Reform and Consumer Protection Act S. 961 Authorizing the Regulation of Swaps Act H.R. 3145 Credit Default Swap Prohibition Act H.R. 3300 The Derivatives Trading Accountability and Disclosure Act H.R. 3996 Financial Stability Improvement Act S. 1961 Comprehensive Derivatives Regulation Act H.R. 3795 Over-the-Counter Derivatives Markets Act S. 2927 Wall Street Fair Share Act S. 3217 Restoring American Financial Stability Act

Client expense: $890,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 302 (To require the Securities and Exchange Commission to reinstate the uptick rule on short sales of securities); H.R. 1260 (Patent Reform Act); H.R. 1020 (Arbitration Fairness Act of 2009); H.R. 1575 (End Government Reimbursement of Excessive Executive Disbursements (End GREED) Act); H.R. 1664 (To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards) (restrictions on compensation); H.R. 1669 (To require the Secretary of the Treasury to establish a market for municipal securities, to require cooperation between the Secretary and the Chairman of the Board of Governors of the Federal Reserve System in addressing the municipal securities market situation including through the establishment of municipal securities funding facilities, and for other purposes); H.R. 1731 (Credit Risk Retention Act); H.R. 1944 (Active Financing Rules); H.R. 2221 (Data Accountability and Trust Act); H.R. 2549 (The Municipal Bond Fairness Act); H.R. 2550 (The Municipal Advisers Regulation Act); H.R. 2551 (The Municipal Market Liquidity Enhancement Act of 2009); H.R. 2589 (The Municipal Bond Insurance Enhancement Act of 2009); H.R. 2847 (Hiring Incentives to Restore Employment Act); H.R. 2896 (Equal Treatments Of Covered Bonds Act of 2009); H.R. 3005 (National Institute of Finance Act of 2010); H.R. 3126 (Consumer Financial Protection Agency Act of 2009); H.R. 3145 (Credit Default Swap Prohibition Act of 2009); H.R. 3269 (Corporate and Financial Institution compensation Fairness Act of 2009); H.R. 3306 (to enhance Social Security account number privacy protections); H.R. 3310 (To reform the financial regulatory system of the United States); H.R. 3817 (Investor Protection Act of 2009); H.R. 3818 (Private Fund Investment Advisers Registration Act of 2009); H.R. 3890 (Accountability and Transparency in Rating Agencies Act); H.R. 4173 (Dodd-Frank Wall Street Reform and Consumer Protection Act)(Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion)); H.R. 4191 (Wall Street Fair Share Act); H.R. 4872 (The Reconciliation Act of 2010); H.R. 4884 (U.S. Covered Bond Act of 2010); H.R. 5777 ("Building Effective Strategies to Promote Responsibility Accountability Choice Transparency Innovation Consumer Expectations and Safeguards Act," or the "Best Practices Act"); H.R. 5927 (Small Business Lending Fund Act); S. 139 (Data Breach Notification Act); S. 386 (Fraud Enforcement and Recovery Act); S. 515 (Patent Reform Act); S. 651 (Compensation Fairness Act of 2009); S. 773 (Cyber Security Act of 2009); S. 931 (Arbitration Fairness Act of 2009); S. 961 (Authorizing the Regulation of Swaps Act); S. 1490 (Personal Data Privacy and Security Act of 2009); S. 1551 (Liability for Aiding and Abetting Securities Violations of 2009); S. 1682 (to provide the CFTC with antimarket manipulation authority); S. 1683 (Pay It Back Act); S. 2886 (Bank Integrity Act of 2009) (Glass-Steagall Repeal); S. 2927 (Wall Street Fair Share Act); S. 3005 (National Institute of Finance Act of 2010); S. 3217 (Governmental Accounting Standards Board (GASB) Funding)(Regulatory Capital Requirements, systemic risk regulation and liquidation authority); S. Amdt. 3792 (Fiduciary Duty); S. Amdt. 4057 (Governmental Accounting Standards Board (GASB) Funding); 2011 Financial Services Appropriations, Subcommittee on Financial Services and General Government (Amendment relating to SIPC coverage); Restoring American Financial Stability Act of 2010: Title I (Financial Stability); Title II (Resolution Authority); Title IX ( Asset-Backed Securitization); Title X (Broker-Dealer Standard of Care); Title IX (FED Lending and Fiscal Policy Functions); Resolution Authority for Systemically Significant Financial Companies Act of 2009; Systemic Risk Regulation and liquidation authority; Troubled Asset Backed Securities Loan Facility (H-1B); State Regulation of Credit Default Swaps as Insurance; PPIP Investor and Asset Manager Requirements; China - strategic and economic dialog; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Bilateral Investment Treaties, India; Asian Pacific Economic Council Privacy Issues; Transpacific Partnership; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; EU Alternative Investment Fund Managers Proposal (AIFM); Basel Capital Rules; G-20 (Issues related to the November 15, 2008 "Washington Action Plan"); Government Sponsored Enterprises (GSE) Reform; Regulatory Capital Requirements; Accounting standards for municipalities.

Client expense: $1,270,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Natl Economic Council (NEC), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 200 (Helping Families Save Their Homes in Bankruptcy Act); H.R. 225 (Emergency Homeownership and Equity Protection Act); H.R. 230 (Housing Opportunity and Mortgage Equity Act of 2009) (foreclosure avoidance and loan modifications); H.R. 384 (TARP Reform and Accountability Act); H.R. 703 (Legislation to promote bank liquidity and lending through deposit insurance, the HOPE for Homeowners Program, and other enhancements); H.R. 786 (To make permanent the temporary increase in deposit insurance coverage, and for other purposes); H.R. 787 (to make improvements in the Hope for Homeowners Program) (foreclosure avoidance and loan modifications); H.R. 788 (To provide a safe harbor for mortgage servicers who engage in specified mortgage loan modifications, and for other purposes); H.R. 1020 (Arbitration Fairness Act of 2009); H.R. 1106 (Helping Families Save Their Homes Act) (foreclosure avoidance and loan modifications); H.R. 1728 (To amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, to provide certain minimum standards for consumer mortgage loans, and for other purposes) (mortgage reform); H.R. 1731 (Credit Risk Retention Act); H.R. 1758 (Mortgage Reform and Anti-predatory Lending Act of 2009); H.R. 3269 (Corporate and Financial Institution Compensation Fairness Act of 2009); H.R. 3451 (To require mortgagees for mortgages in default to engage in reasonable loss mitigation activities); H.R. 3606 (Consumer Financial Protection Agency Act); H.R. 3817 (Investor Protection Act)(Arbitration, Broker-Dealer Standard of Care, SRO Rulemaking); H.R. 3996 (The Financial Stability Improvement Act of 2009); H.R. 4173 (Dodd-Frank Wall Street Reform and Consumer Protection Act)(Fiduciary Duty, Arbitration Clauses, Custody of Client Assets, Securities Litigation); S. 61 (Helping Families Save Their Homes in Bankruptcy Act); S. 376 (Real Estate Mortgage Investment Conduit Improvement Act of 2009); S. 896 (Helping Families Save Their Homes Act); S. 931 (Arbitration Fairness Act of 2009); S. 1073 (Rating Accountability and Transparency Enhancement Act of 2009); S. 1540 (To provide for enhanced authority of the FDIC to act as receiver for certain affiliates of depository institutions); S. 1731 (To require certain mortgages to make loan modifications and establish grant programs for state and local government mediation programs); S. 2886 (Bank Integrity Retention Act); S. 3217 (Investor Protection Act)(Arbitration, Broker-Dealer Standard of Care, SRO Rulemaking); Housing Affordability and Stability Plan; Student loans (special allowance payment rates); Credit Rating Agency Reform; Government Sponsored Enterprise Reform (GSE).

Client expense: $1,270,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Natl Economic Council (NEC), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

HR 1020, Arbitration Fairness Act of 2009 HR 1754, The Financial System Stabilization and Reform Act of 2009 S 664, The Financial System Stabilization and Reform Act of 2009 HR 1106, The Helping Families Save Their Homes Act of 2009 HR 1728, The Mortgage Reform and Anti-Predatory Lending Act of 2009 HR 1327, Iran Sanctions Enabling Act HR 977, The Derivatives Markets Transparency and Accountability Act of 2009 HR 3126, The Consumer Financial Protection Agency Act 2009 HR 3795, The Over the Counter Derivatives Markets Act of 2009 HR 3310, Financial Services Regulatory Reform HR 3300, Derivative Trading Accountability and Disclosure Act of 2009 HR 977, The Derivatives Markets Transparency and Accountability Act of 2009 S 272, The Derivatives Trading Integrity Act of 2009 HR 2382, The Credit Card Interchange Fees Act of 2009 HR 4173, The Wall Street Reform and Consumer Protection Act of 2009 HR 3890, The Accountability and Transparency in Rating Agencies Act HR 3817, Investor Protection Act of 2009 HR 3996, Financial Stability Improvement Act of 2009 Bank Tax HR 5381, Motor Vehicle Safety Act of 2010 S 3217, Restoring American Financial Stability Act S1065, Iran Sanctions Enabling Act of 2009 S 3675, The Small Business Jobs Preservation Act of 2010

Client expense: $9,280,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Defense, Dept of (DOD), Energy, Dept of, Environmental Protection Agency (EPA), Executive Office of the President (EOP), Federal Aviation Administration (FAA), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Patent & Trademark Office (PTO), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA)

HR 1020, Arbitration Fairness Act of 2009 HR 1754, The Financial System Stabilization and Reform Act of 2009 S 664, The Financial System Stabilization and Reform Act of 2009 HR 1106, The Helping Families Save their Homes Act of 2009 HR 1728, The Mortgage Reform and Anti-Predatory Lending Act of 2009 HR 1327, Iran Sanctions Enabling Act HR 977, The Derivatives Markets Transparency and Accountability Act of 2009 HR 3126, The Consumer Financial Protection Agency Act 2009 HR 3795, The Over the Counter Derivatives Markets Act of 2009 HR 3310, Financial Services Regulatory Reform HR 3300, Derivative Trading Accountability and Disclosure Act of 2009 HR 977, The Derivatives Markets Transparency and Accountability Act of 2009 S 272, The Derivatives Trading Integrity Act of 2009 HR 2382, The Credit Card Interchange Fees Act of 2009 HR 4173, The Wall Street Reform and Consumer Protection Act of 2009 HR 3890, The Accountability and Transparency in Rating Agencies Act HR 3817, Investor Protection Act of 2009 HR 3996, Financial Stability Improvement Act of 2009 Bank Tax HR 5381, Motor Vehicle Safety Act of 2010 S 3217, Restoring American Financial Stability Act S1065, Iran Sanctions enabling Act of 2009

Client expense: $15,460,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Defense, Dept of (DOD), Energy, Dept of, Environmental Protection Agency (EPA), Executive Office of the President (EOP), Federal Aviation Administration (FAA), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Patent & Trademark Office (PTO), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA)

HR 1020, Arbitration Fairness Act of 2009 HR 1754, The Financial System Stabilization and Reform Act of 2009 S 664, The Financial System Stabilization and Reform Act of 2009 HR 1106, The Helping Families Save their Homes Act of 2009 HR 302, A Bill to require the SEC to reinstate the uptick rule on short sales of securities HR 786, To make permanent the temporary increase in deposit insurance coverage HR 1214, The Payday Loan Reform Act of 2009 HR 1728, The Mortgage Reform and Anti-Predatory Lending Act of 2009 HR 1327, Iran Sanctions Enabling Act HR 3068, TARP for Main Street Act of 2009 HR 977, The Derivatives Markets Transparency and Accountability Act of 2009 HR 3126, The Consumer Financial Protection Agency Act 2009 HR 3795, The Over the Counter Derivatives Markets Act of 2009 HR 3310, Financial Services Regulatory Reform HR 3300, Derivative Trading Accountability and Disclosure Act of 2009 HR 977, The Derivatives Markets Transparency and Accountability Act of 2009 S 272, The Derivatives Trading Integrity Act of 2009 HR 2382, The Credit Card Interchange Fees Act of 2009 HR 4173, The Wall Street Reform and Consumer Protection Act of 2009 HR 3890, The Accountability and Transparency in Rating Agencies Act HR 3817, Investor Protection Act of 2009 HR 3996, Financial Stability Improvement Act of 2009 Bank Tax

Client expense: $7,310,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Defense, Dept of (DOD), Energy, Dept of, Environmental Protection Agency (EPA), Executive Office of the President (EOP), Federal Aviation Administration (FAA), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Patent & Trademark Office (PTO), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA)

H.R. 3126, Consumer Financial Protection Agency Act of 2009; issues related to Federal Trade Commission and applicability to telecommunications and information service providers H.R. 3817, Investor Protection Act of 2009; issues related to applicability to telecommunications and information service providers H.R. 4173, Restoring American Financial Stability Act of 2010; issues related to Federal Trade Commission and applicability to telecommunications and information service providers. S. 3217, Securing Americas Financial Stability Act of 2010; issues related to FTC and Consumer Financial Protection Agency jurisdiction over telecommunications and information service providers

Client expense: $1,680,000 · Firm income: Not reported

Government targets: Federal Communications Commission (FCC), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Natl Telecommunications & Information Administration (NTIA), SENATE

HR 3269, HR 3126, HR 3795, HR 4173, HR 3818, HR 3890, HR 3817, HR 3996 - Financial Services Reform

Client expense: $810,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Labor, Dept of (DOL), Office of Management & Budget (OMB), SENATE, White House Office

Issues relating to executive compensation, shareholder votes and proxy access. S. 1074, The Shareholder Bill of Rights Act of 2009; H.R. 2861, The Shareholder Empowerment Act of 2009. Legislation and regulation pertaining to derivatives. S. 1691, The Comprehensive Derivatives Regulation Act of 2009; H.R. 3269, Corporate and Financial Institution Compensation Fairness Act of 2009. Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203). H.R. 3817, the Investor Protection Act of 2009, including the Waters/Peters amendment granting authority to the SEC to issue rules on proxy access.

Client expense: Not reported · Firm income: $50,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues relating to executive compensation, shareholder votes and proxy access. S. 1074, The Shareholder Bill of Rights Act of 2009; Legislation and regulation pertaining to derivatives. S. 1691, The Comprehensive Derivatives Regulation Act of 2009; H.R. 3795, H.R. 3269, Corporate and Financial Institution Compensation Fairness Act of 2009. Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203). H.R. 3817, the Investor Protection Act of 2009, including the Waters/Peters amendment granting authority to the SEC to issue rules on proxy access.

Client expense: Not reported · Firm income: $50,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Financial regulatory reform issues including proposals to reform credit rating agencies, regulate systemic risk, combine the Office of Thrift Supervision and the Office of the Comptroller of the Currency, subject saving and loan holding companies to Federal Reserve oversight, establish a resolution authority for non-banks, SEC and CFTC regulation and taxation of derivatives, (continued next page) liability issues, proprietary trading, credit scoring, creation of a Consumer Financial Protection Agency, and the creation of a Federal Insurance Office. S.664 / H.R.1754 Financial System Stabilization and Reform Act of 2009 - all provisions S.386 Fraud Enforcement and Recovery Act of 2009 provisions regarding senior designations and a bipartisan financial crisis inquiry commission S.664 / H.R.1754 Financial System Stabilization and Reform Act - all provisions H.R.627 Truth in Lending Act S.A.1077, Menendez amendment regarding credit to S.A.1058, Dodd amendment H.R.3126 Consumer Financial Protection Agency Act of 2009 clarification of business of insurance H.R.3817 The Investor Protection Act of 2009 harmonization of standard of care S.1691 - Comprehensive Derivatives Regulation Act of 2009 derivative end user issues H.R.3135 - Over-the-Counter Derivatives Markets Act of 2009 derivative end user issues H.R.2609 Insurance Information Act of 2009 / Federal Insurance Office Act of 2009 all provisions Restoring American Financial Stability Act of 2009 (discussion draft) all provisions H.R.3996 Financial Stability Improvement Act of 2009 all provisions The Wall Street Transparency & Accountability Act of 2010 (Proposed bill, then inserted into S.3217) S. 3217- Restoring American Financial Stability Act of 2010 all provisions H.R.4173 Dodd-Frank Wall Street Reform and Consumer Protection Act All Provisions / Implementation S.3098 - Protect Our Recovery Through Oversight of Proprietary Trading Act of 2010 (PROP Trading Act) treatment of insurers general accounts Financial Crisis Responsibility Fee (Administration Proposal) revenue provisions

Client expense: $440,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Proxy Access issues. Issues relating to executive compensation and shareholder votes. S. 1074, Shareholder Bill of Rights Act of 2009. H.R. 2861, Shareholder Empowerment Act of 2009. Corporate governance in general. H.R. 3817, the Investor Protection Act of 2009. Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203); Title IX.

Client expense: Not reported · Firm income: $90,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)

Proxy access issues. Issues relating to executive compensation and shareholder votes. S. 1074, Shareholder Bill of Rights Act of 2009. H.R. 2861, Shareholder Empowerment Act of 2009. Corporate governance in general. H.R. 3817, the Investor Protection Act of 2009. Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203); Title IX.

Client expense: Not reported · Firm income: $90,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)

H.R. 2221, Data Accountability and Trust Act, all provisions. H.R. 1106, Helping Families Save Their Homes Act of 2009, all provisions. H.R. 2554, National Association of Registered Agents and Brokers Reform Act, all provisions. H.R. 3996, The Financial Stability Improvement Act of 2009, all provisions. S. 2832, Lifetime Income Disclosure Act, all provisions S. 3217 An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes. H.R. 1106, Helping Families Save Their Homes Act of 2009, all provisions H.R. 3126, Consumer Financial Protection Agency Act of 2009, all provisions H.R. 3817, Investor Protection Act of 2009, all provisions H.R. 3890, Accountability and Transparency in Credit Rating Agencies Act of 2009, all provisions H.R. 3795, Over The Counter Derivatives Market Act, all provisions H.R. 3763, A Bill to Amend the Fair Credit Reporting Act to Provide for an Exclusion from Red Flag Guidelines for Certain Businesses, all provisions H.R. 4173, Financial Regulatory Reform, all provisions/ The Wall Street Reform and Consumer Protection Act of 2009, all provisions H.R. 4868, Housing Preservation and Tenant Protection Act of 2010, all provisions H.R. 5072, The FHA Reform Act of 2010, all provisions H.R. 2861, Shareholder Empowerment Act of 2009, all provisions H.R. 1479, H.R. 2896 Community Reinvestment Modernization Act of 2009, all provisions H.R. 6334, American Community Investment Reform Act of 2010, all provisions [No Bill Number], Securitization Reform, all provisions [No Bill Number], Restoring American Financial Stability Act of 2009 [No Bill Number], Financial Crisis Responsibility Fee [No Bill Number], Residential Mortgage Backed Securities [No Bill Number], Commercial Mortgage Backed Securities [No Bill Number], Government Sponsored Enterprise Reform

Client expense: $2,460,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)

General background on U.S. capital markets competitiveness and regulation. General background on securities litigation and P.L. 104-67, the Private Securities Litigation Reform Act of 1995. Potential legislation dealing with attorney pay-to-play issues in securities litigation. H.R. 3817, Potential amendment to the Investor Protection Act that would roll-back the Supreme Court's Stoneridge decision. Proposed Waters aiding and abetting liability amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act. Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203).

Client expense: Not reported · Firm income: $140,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 384 - TARP Reform and Accountability Act of 2009 H.R. 387 - TARP Accountability Act of 2009 S. 235 - Credit Cardholders Bill of Rights Act of 2009 S. 386 - An Act to improve enforcement of mortgage fraud, securities and commodities fraud, financial institution fraud, and other frauds related to Federal assistance and relief programs, for the recovery of funds lost to these frauds, and for other purposes. S. 566 - A bill to create a Financial Product Safety Commission, to provide consumers with stronger protections and better information in connection with consumer fiancial products, and to give providers of consumer financial products more regulatory certainty. S. 664 - A bill to create a systemic risk monitor for the financial system of the United States, to oversee financial regulatory activities of the Federla Government, and for other purposes. S. 961 - A bill to authorize the regulation of credit default swaps and other swap agreements, and for other purposes. H.R. 3763 - A bill to amend the Fair Credit Reporting Act. H.R. 3639 - To amend the Credit Card Accountability Responsibility and Disclosure Act of 2009 to establish an earlier effective date for various consumer protections and for other purposes. H.R. 3606 - To amend the Truth in Lending Act to make a technical correction to an amendment made by the Credit CARD Act of 2009. H.R. 4173 - Wall Street Reform and Consumer Protection Act of 2009. H.R. 3996 - Financial Stability Improvement Act H.R. 2266 - Reasonable Prudence in Regulation Act H.R. 3904 - Overdraft Protection Act H.R. 3126 - Consumer Financial Protection Agency Act H.R. 2382 - Credit Card Interchange Fees Act of 2009 H.R. 3817 - Potential amendment to the Investor Protection Act that would roll-back the Supreme Court's Stoneridge decision No bill number - Section 984 of the discussion draft of the Restoring American Financial Stability Act of 2009 S. 3217 - Restoring American Financial Stability Act of 2010

Client expense: $697,169 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support for globally consistent accounting standards; Support for independent accounting standard setting process; Support for use of fair value accounting; HR 607 - fair value accounting; HR 1212 - Public Company Accounting Oversight Board, oversight of auditors of brokers and dealers; HR 1349 - Accounting principles and Standards Oversight Board; HR 1406 - mark-to-market accounting principles, section 3; HR 1797 - To amend the Sarbanes-Oxley Act of 2002; HR 1909 - mark-to-market accounting; HR 3126 - Consumer Financial Protection Agency; HR 3817 - The Investor Protection Act; HR 3346 - To amend the Sarbanes-Oxley Act of 2002 to permit the sharing of confidential supervisory information with foreign auditor oversight bodies; HR 4173 - Wall Street Reform and Consumer Protection Act of 2009; S 3217 - Restoring American Financial Stability Act of 2010; Dodd-Frank Wall Street Reform and Consumer Protection Act

Client expense: $510,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 3269, Corporate and Financial Institution Compensation Fairness Act of 2009; S. 1074, Shareholder Bill of Rights Act of 2009; H.R. 3126, Consumer Financial Protection Agency Act of 2009; H.R 3817, Investors Protection Act; H.R. 4173, the Wall Street Reform and Consumer Protection Act; SEC proposed rule of "Facilitating Shareholder Director Nominations" (File No. S7-10-09); issues related to consumer credit; H.R. 2695 and S. 1212, the Credit Card Fair Free Act; H.R. 2382, Credit Card Interchange Fees Act of 2009; Issues related to the Credit CARD Act, H.R. 6247, including regulation Z changes; Restoring American Financial Stability Act of 2010; SEC IFRS Convergence; H.R. 2861, Shareholder Empcurerment Act of 2009; H.R. 3272, Corporate Convernance Reform Act of 2009; H.R. 3351, Proxy Voting Transparency Act of 2009; FinCEn proposed regulation regarding prepaid access; HR 5502, transition relief to Credit CARD Act; Dodd-Frank CEO-median employee pay ration disclosure rule.

Client expense: $670,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), Consumer Product Safety Commission (CPSC), Equal Employment Opportunity Commission (EEOC), Federal Communications Commission (FCC), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Labor Relations Board (NLRB), Office of Management & Budget (OMB), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Customs & Border Protection, U.S. International Trade Commission (ITC), U.S. Trade Representative (USTR), White House Office

S. 1551/ H.R. 5042, Liability for Aiding and Abetting Securities Violations Act of 2010 H.R. 2309, Consumer Credit Protection Agency Act, provisions related to state attorney general enforcement H.R. 3126, Consumer Financial Protection Agency Act of 2009 H.R. 3817, Investor Protection Act of 2009, including a potential amendment that would roll-back the Supreme Court's Stoneridge decision H.R. 1214, The Payday Loan Act of 2009 H.R. 991, Consumer Fairness Act of 2009 H.R. 3451, Foreclosure Prevention and Sound Mortgage Servicing Act of 2009 H.R. 1728, Mortgage Reform and Anti-Predatory Lending Act H.R. 4173/ S. 3217, Dodd-Frank Wall Street Reform and Consumer Protection Act of 2009, provisions related to Rep. Bean's preemption amendment H.R. 4790, Shareholder Protection Act of 2010 S. AMDT 3893, 3894, 3895, all provisions of amendments dealing with securities litigation, State AG enforcement/contingency fees, and arbitration General background on U.S. capital markets competitiveness and regulation, securities litigation, and PL 104-67, Private Securities Litigation Reform Act of 1995 Potential legislation dealing with attorney pay-to-play issues in securities litigation (specific legislation not yet introduced)

Client expense: $7,420,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)

H.R. 3817, Investor Protection Act, provisions concerning the Supreme Court's StoneRidge decision; S. 445, Attorney-Client Privilege Protection Act of 2009, provisions regarding privileged communications and attorney work product; H.R. 4115, Open Access to Court Act, including provisions prohibiting a U.S. district court from dismissing a complaint; S. 1504, Notice Pleading Restoration Act of 2009, regarding Federal Court notice pleading

Client expense: Not reported · Firm income: $70,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 83. Homeowners Insurance Protection Act (entire bill) H.R. 308/ S. 1364. Hurricane and Tornado Mitigation Investment Act (entire bills) H.R. 1583. To further competition in the insurance industry (Repeals McCarran-Furguson Act) (entire bills) H.R 327/ S. 1485. National Hurricane Research Initiative Act (entire bill) H.R. 988/ S. 1486. Policyholder Disaster Protection Act (entire bill) H.R. 1239. Property Mitigation Assistance Act (entire bill) H.R. 1264. Multi Peril Insurance Act (entire bill) S. 505. Homeowners Defense Act (entire bill) H.R. 1880. National Insurance Consumer Protection Act (entire bill) H.R. 1754/ S.664. Financial System Stabilization and Reform Act of 2009 (entire bill) S. 886. Catastrophe Obligation Guarantee Act (entire bill) H.R. 2555. Homeowners Defense Act of 2009 (entire bill) H.R. 2554. National Association of Registered Agents and Brokers Reform Act (entire bill) H.R. 2571/ S. 1363. Non-admitted and Reinsurance Reform Act H.R. 2609. Insurance Information Act (entire bill) H.R. 3596/ S. 1681. Health Insurance Industry Antitrust Enforcement Act (entire bill) S.1484. Catastrophe Savings Account Act (entire bill) S. 1487. Commission on Catastrophic Disaster Risk and Insurance Act (entire bill) H.R. 3139. National Flood Insurance Program Extension Act (entire bill) H.R. 3126/ H.R. 3639. Consumer Financial Protection Agency Act S. 1540. Resolution Reform Act of 2009 H.R. 4173. Wall Street Reform and Consumer Protection Act of 2009. (entire bill) H.R. 3817. Investor Protections Act of 2009. (entire bill) H.R. 3818. Private Fund Investment Advisors Registration Act of 2009. (entire bill) H.R. 3996. Financial Stability Improvement Act. (entire bill) S. 3217. Restoring America's Financial Stability Act (entire bill) H.R. 4778. National Flood Insurance Program Extension Act (entire bill) H.R. 4802. Risk Retention Modernization Act (entire bill) H.R. 4626. Health Insurance Industry Fair Competition Act (entire bill) H.R. 5114. Flood Insurance Reform Priorities Act (entire bill) H.R. 5255. Stable Flood Insurance Authorization Act (entire bill) S. 3347. To extend the NFIP though December 31, 2010 (entire bill) S. 3814. National Flood Insurance Program Re-extension Act (entire bill) S. 3685. Insurance Competition and Transparency Act (entire bill) S. 3546. Cheaper Car Insurance Act (entire bill)

Client expense: $330,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Transportation, Dept of (DOT), Treasury, Dept of

Target Date Funds Financial Regulatory Reform in the following bills and proposals: HR 977 - Derivatives Markets Transparency and Accountability Act of 2009 S 1074 - Shareholder Bill of Rights Act of 2009 Administration proposal - "Financial Regulatory Reform: A New Foundation" HR 3126 - Consumer Financial Protection Act of 2009 HR 2609 - Office of Insurance Information Treasury proposal - Office of National Insurance (Title V) Treasury proposal - Improvements of Regulation of Over-the-Counter Derivatives Markets (Title VII) S 1691 - Comprehensive Derivatives Regulation Act of 2009 HR 2861 - Shareholder Empowerment Act HR 4173 - Wall Street Reform and Consumer Protection Act HR 1728 - Mortgage Reform and Anti-Predatory Lending Act Restoring American Financial Stability Act HR 3817 - Investor Protection Act Proxy Access Proposed SEC Rule S 3217 - Restoring American Financial Stability Act of 2010 "Volcker Rule" Conference Report H. Rept. 111-517 Dodd-Frank Wall Street Reform and Consumer Protection Act Covered Bonds in the following bill: HR 5823 - United States Covered Bonds Act

Client expense: $400,000 · Firm income: Not reported

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, White House Office

Financial regulatory reform, including harmonization of regulation of broker-dealers and investment advisers; regulation of the securities industry; investor protection and education; H.R. 3817 Investor Protection Act of 2009; H.R. 4173 Wall Street Reform and Consumer Protection Act of 2009; S.3217 - Restoring American Financial Stability Act of 2010

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Legislative and regulatory issues affecting the financial services industry (data security, privacy); H.R. 3817, Investor Protection Act of 2009; H.R. 4173, Dodd-Frank Wall Street Reform and Consumer Protection Act; S. 3217, Restoring American Financial Stability Act of 2010; H.R. 5777, a bill to foster transparency about the commercial use of personal information, provide consumers with meaningful choice about the collection, use and disclosure of such information; S. 3742, Data Security & Breach Notification Act.

Client expense: Not reported · Firm income: $20,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

General Accounting Issues; Accounting Liability Issues; Executive Compensation - H.R. 3817: Investor Protection Act Financial Regulation Reform

Client expense: Not reported · Firm income: $40,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 4173 - Restoring American Financial Stability Act Financial Reform legislation - including corporate governance provisions, derivatives provisions, private equity and venture capital HR 3269, HR 3126, HR 3795, HR 4173, HR 3818, HR 3890, HR 3817, HR 3996 - Financial Services Reform HR 5125 - Restitution for Local Government Act HR 1664, HR 3269 - Executive Compensation

Client expense: $750,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), SENATE, White House Office

General Accounting Issues; Accounting Liability Issues; Executive Compensation - H.R. 3817: Investor Protection Act of 2009 Financial Regulation Reform

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE