Glass-Steagall Restoration Act

Financial Oversight Commission Act of 2009 - H.R. 74, all provisions Financial Product Safety Commission Act of 2009 - S. 566, all provisions Consumer Financial Protection Agency - H.R. 3126, all provisions Wall Street Reform and Consumer Protection Act of 2009 - H.R. 4173, all provisions Banking Integrity Act of 2009 - H.R. 4375/S. 2886, all provisions Restoring American Financial Stability Act of 2010 - S. 3217, all provisions To Amend the Community Reinvestment Act of 1977 to improve the assessments of regulated financial institutions and for other purposes - H.R. 6334, all provisions

Client expense: $210,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (all provisions). H.R. 4375, the Glass-Steagall Restoration Act. H.R. 4377, the Return to Prudent Banking Act of 2009 H.R. 4461, the Banking Integrity Act of 2010 S. 2886, the Banking Integrity Act of 2009 S.3217, The Restoring American Financial Stability Act of 2010 (all provisions) Proposals to reform regulation of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks Proposals to restrict banks proprietary trading, hedge fund, and private equity fund activities.

Client expense: $1,850,000 · Firm income: Not reported

S. 414, the Credit Card Accountability Responsibility and Disclosure Act of 2009 (all provisions) S. 2886, the Banking Integrity Act of 2009 S. 2919, the Small Business Lending Enhancement Act of 2009 (all provisions regarding credit union business lending limits) H.R. 1479, the Community Reinvestment Modernization Act (all provisions) H.R. 3380, the Promoting Lending to Americas Small Businesses Act of 2009 (provisions to increase credit union business lending limits) H.R. 4375, the Glass-Steagall Restoration Act H.R. 4377, the Return to Prudent Banking Act of 2009 H.R. 4461, the Banking Integrity Act of 2010 H.R. 4884, the United States Covered Bond Act of 2010 (all provisions) Treasury Department Draft Legislation on Credit Default Swaps and Other Over-The-Counter Derivatives (all provisions) The Over-the Counter Derivatives Markets Act of 2009, Draft Legislation Proposals regarding regulation of the commercial real estate (CRE) market

Client expense: $1,850,000 · Firm income: Not reported

Insurance Regulatory Reform HR 1880 - "The National Insurance Consumer Protection Act" - Creates a federal insurance regulator HR 1479 - "Community Reinvestment Modernization Act of 2009" - Modifies and expands CRA to include non-bank institutions such as insurers HR 83 - "Homeowners Insurance Protection Act" - Creates a national catastrophic insurance fund to sell low-cost reinsurance contracts to state catastrophe funds, as well as set up a natural catastrophe commission HR 998 - "Policyholder Disaster Protection Act of 2009" - Amends the IRS Code of 1986 to provide for the creation of disaster protection funds by property and casualty insurance companies for the payment of policyholders' claims arising from future catastrophic events HR 1264 - "Multiple Peril Insurance Act of 2009" - Expands National Flood Insurance Program to include wind coverage HR 3059/S1368 - "Access to Repair Parts Act of 2009" - Amends patent law to allow for the use of after-market replacement auto crash parts HR 2554 - "National Association of Registered Agents and Brokers Reform Act of 2009" - Creates national standards for insurance agents and brokers HR 2592 - "Safe Building Code Incentive Act of 2009" - Provides for incentives to states for passing and enforcing strict building codes S 886 - "Catastrophe Obligation Guarantee Act" - Establishes bond guarantees for states involved in earthquakes and hurricanes HR 4173 - "The Wall Street Reform and Consumer Protection Act" - Financial Regulatory Reform S 3217 - "Restoring American Financial Stability Act" - Financial Regulatory Reform HR 4375/S 2886 - "The Banking Integrity Act of 2009" - Repeals Glass-Steagall Act HR 5569/S 3347 - "National Flood Insurance Program Extension Act" - Re-authorizes federal flood insurance through September 30, 2010 HR 5114 - "Flood Insurance Reform Priorities Act" - Long-term extension and reforms of federal flood insurance HR 2555 - "Homeowners Defense Act of 2009" - Establishes a national catastrophe risk consortium

Financial Regulatory Reform and Modernization - The Forum supports modernization and reform of the financial regulatory system to ensure the safety and soundness of financial institutions, the stability of the U.S. financial system and the protection of the varied interests of depositors, consumers, and investors. H.R. 4173, the "Wall Street Reform and Consumer Protection Act" and S. 3217, the "Restoring American Financial Stability Act" (Conference Report) - The Forum supports financial regulatory reform that would: 1) establish resolution authority to end "too-big-to-fail", 2) enhance consumer protections, 3) regulate over-the-counter derivatives; and, 4) designate a "systemic supervisor." The Forum opposes legislation to preemptively dismantle or limit the activities of well-capitalized and well-managed financial institutions, believes that imposing haircuts on secured creditors to financial institutions in resolution would introduce systemic risk into the financial system, supports maintaining the establishment of uniform national banking to ensure an efficient banking system, supports retaining supervisory authority of the Federal Reserve and supports post-funding of a new systemic risk resolution fund. The Forum supports risk retention requirements for mortgage originators and securitizers and establishing a new Office of Insurance within the Treasury Department. The Forum supports enhancement of consumer protection. The Forum supports working with policy makers to ensure that consumers, depositors, investors, and policyholders enjoy the world's most steadfast and effective protection of their interests. The Forum supports executive compensation policies that reward attention to risk management and aligns incentives with the long-term viability and safety and soundness of financial institutions. Derivatives are important tools that enable companies to minimize and manage their exposure to a wide range of risks, thereby freeing up vital capital for other uses. The Forum believes that financial derivatives should be subject to prudential supervision and supports the establishment of a systemic risk supervisor to monitor, assess and address systemic risk, in continuous interaction with functional regulators to address any threats to the financial system, including in the derivatives markets. H.R. 4375 & S. 2886, the "Glass-Steagall Restoration Act" - The Forum supports retaining a provision in the "Gramm-Leach-Bliley Act" that allows for the creation of financial holding companies (FHC) in which the FHC serves as an umbrella corporation for other financial subsidiaries. The Glass-Steagall Restoration Act would repeal this provision. The financial holding company structure did not contribute to the financial crisis. The Forum believes the appropriate policy response is enhanced supervision to minimize financial instability, coupled with resolution authority to end "too-big-to-fail." APEC Privacy Framework - The Forum supports an APEC Privacy Framework that does not unduly restrict the global flow of data which is vital for financial institutions to meet customer needs and serve them efficiently. Capital Requirements - The Forum supports regulatory capital requirements that ensure safety, soundness, and systemic stability while not undermining lending that stimulates economic growth and job creation. Capital Market Competitiveness generally - The Forum supports the free flow of capital and open and competitive U.S. markets. The Forum also supports maintaining the United States as an attractive place for investment and a continued leader in the global economy.

HR 4300 - Restoring America's Commitment to Consumers Act - Provisions that may outline new requirements for our credit card providers. S 2886 - Banking Integrity Act - Povisions prohibiting a depository institution from engaging in the business of insurance or any insurance-related activity. HR 4375 - Glass-Steagall Restoration Act - Provisions prohibiting a depository institution from engaging in the business of insurance or any insurance - related activity and the implications for our business. S 1799/HR3094 - FAIR Overdraft Coverage Act - Regulations pertaining to marketing and overdraft coverage programs, limits on overdraft fees and ATM transaction requirements. HR 3763 - Amends Fair Credit Reporting Act - Review of which companies would be excluded from Red Flag Guidelines.

Client expense: $142,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Financial Oversight Commission Act of 2009 - H.R. 74, all provisions Financial Product Safety Commission Act of 2009 - S. 566, all provisions Consumer Financial Protection Agency - H.R. 3126, all provisions Wall Street Reform and Consumer Protection Act of 2009 - H.R. 4173, all provisions Banking Integrity Act of 2009 H.R. 4375/S. 2886, all provisions Restoring American Financial Stability Act of 2010 - S. 3217, all provisions

Client expense: $260,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (all provisions). H.R. 4375, the Glass-Steagall Restoration Act. H.R. 4377, the Return to Prudent Banking Act of 2009 H.R. 4461, the Banking Integrity Act of 2010 S. 2886, the Banking Integrity Act of 2009 S.3217, The Restoring American Financial Stability Act of 2010 (all provisions) Proposals to reform regulation of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks Proposals to restrict banks proprietary trading, hedge fund, and private equity fund activities.

Client expense: $1,850,000 · Firm income: Not reported

S. 414, the Credit Card Accountability Responsibility and Disclosure Act of 2009 (all provisions) S. 2886, the Banking Integrity Act of 2009 S. 2919, the Small Business Lending Enhancement Act of 2009 (all provisions regarding credit union business lending limits) H.R. 1479, the Community Reinvestment Modernization Act (all provisions) H.R. 3380, the Promoting Lending to Americas Small Businesses Act of 2009 (provisions to increase credit union business lending limits) H.R. 4375, the Glass-Steagall Restoration Act H.R. 4377, the Return to Prudent Banking Act of 2009 H.R. 4461, the Banking Integrity Act of 2010 H.R. 4884, the United States Covered Bond Act of 2010 (all provisions) Treasury Department Draft Legislation on Credit Default Swaps and Other Over-The-Counter Derivatives (all provisions) The Over-the Counter Derivatives Markets Act of 2009, Draft Legislation Proposals regarding regulation of the commercial real estate (CRE) market

Client expense: $1,850,000 · Firm income: Not reported

Insurance Regulatory Reform HR 1880 - "The National Insurance Consumer Protection Act" - Creates a federal insurance regulator HR 1479 - "Community Reinvestment Modernization Act of 2009" - Modifies and expands CRA to include non-bank institutions such as insurers HR 83 - "Homeowners Insurance Protection Act" - Creates a national catastrophic insurance fund to sell low-cost reinsurance contracts to state catastrophe funds, as well as set up a natural catastrophe commission HR 998 - "Policyholder Disaster Protection Act of 2009" - Amends the IRS Code of 1986 to provide for the creation of disaster protection funds by property and casualty insurance companies for the payment of policyholders' claims arising from future catastrophic events HR 1264 - "Multiple Peril Insurance Act of 2009" - Expands National Flood Insurance Program to include wind coverage HR 3059/S1368 - "Access to Repair Parts Act of 2009" - Amends patent law to allow for the use of after-market replacement auto crash parts HR 2571/S1363 - "Non-Admitted and Reinsurance Reform Act of 2009" - Reforms the surplus lines and reinsurance industries HR 2554 - "National Association of Registered Agents and Brokers Reform Act of 2009" - Creates national standards for insurance agents and brokers HR 3126 - "Consumer Financial Protection Agency Act of 2009" - Creates new agency to regulate various financial products Financial Regulatory Reform - Treasury White Paper and draft legislative titles, not yet introduced in Congress - Restructures financial services regulatory framework HR 2592 - "Safe Building Code Incentive Act of 2009" - Provides for incentives to states for passing and enforcing strict building codes S 886 - "Catastrophe Obligation Guarantee Act" - Establishes bond guarantees for states involved in earthquakes and hurricanes HR 3139 - (No Title) - Extends the National Flood Insurance Program (NFIP) through March 31, 2010 HR 3795 - "Over-the-Counter Derivatives Markets Act of 2009" - Regulations for OTC derivatives products /usage HR 3818 - "Private Fund Investment Advisers Registration Act of 2009" - Regulations on hedge funds/usage HR 3890 - "Accountability and Transparency in Rating Agencies Act" - Regulations on credit rating agencies HR 3817 - "Investor Protection Act of 2009" - Regulations on securities broker-dealers HR 2609 - Federal Insurance Office Act of 2009 - Establishes an office in Treasury Department to educate and collect data on insurance HR 3996 - "Financial Stability Improvement Act of 2009" - Systemic risk legislation HR 4173 - "The Wall Street Reform and Consumer Protection Act" - Combined legislation of bills listed above HR 4375/S 2886 - "The Banking Integrity Act of 2009" - Repeals Glass-Steagall Act HR 2555 - "Homeowners Defense Act of 2009" - Establishes a national catastrophe risk consortium

H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (all provisions) H.R. 4375, Glass-Steagall Restoration Act H.R. 4377, Return to Prudent Banking Act of 2009 H.R. 4461, Banking Integrity Act of 2010 S. 2886, Banking Integrity Act of 2009 The Restoring American Financial Stability Act of 2010 (all provisions) Proposals to reform regulation of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks Proposals to restrict banks proprietary trading, hedge fund, and private equity fund activities Treasury Department Draft Legislation on Credit Default Swaps and Other Over-The-Counter Derivatives (all provisions) The Over-the Counter Derivatives Markets Act of 2009, Draft Legislation

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

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

S. 414, the Credit Card Accountability Responsibility and Disclosure Act of 2009 (all provisions) S. 2886, the Banking Integrity Act of 2009 S. 2919, the Small Business Lending Enhancement Act of 2009 (all provisions regarding credit union business lending limits) H.R. 1479, the Community Reinvestment Modernization Act (all provisions) H.R. 3380, the Promoting Lending to Americas Small Businesses Act of 2009 (provisions to increase credit union business lending limits) H.R. 4375, the Glass-Steagall Restoration Act H.R. 4377, the Return to Prudent Banking Act of 2009 H.R. 4461, the Banking Integrity Act of 2010 H.R. 4884, the United States Covered Bond Act of 2010 (all provisions) Treasury Department Draft Legislation on Credit Default Swaps and Other Over-The-Counter Derivatives (all provisions) The Over-the Counter Derivatives Markets Act of 2009, Draft Legislation Proposals regarding regulation of the commercial real estate (CRE) market

Client expense: $1,800,000 · Firm income: Not reported

H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (all provisions). H.R. 4375, the Glass-Steagall Restoration Act. H.R. 4377, the Return to Prudent Banking Act of 2009 H.R. 4461, the Banking Integrity Act of 2010 S. 2886, the Banking Integrity Act of 2009 S.3217, The Restoring American Financial Stability Act of 2010 (all provisions) Proposals to reform regulation of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks Proposals to restrict banks proprietary trading, hedge fund, and private equity fund activities.

Client expense: $1,800,000 · Firm income: Not reported

Financial Regulatory Reform and Modernization - The Forum supports modernization and reform of the financial regulatory system to ensure the safety and soundness of financial institutions, the stability of the U.S. financial system and the protection of the varied interests of depositors, consumers, and investors. H.R. 4173, "the Wall Street Reform and Consumer Protection Act" and S. 3217, "the Restoring American Financial Stability Act" (Committee Print) - The Forum supports financial regulatory reform that would: 1) establish resolution authority to end "too-big-to-fail", 2) enhance consumer protections; 3) regulate over-the-counter derivatives; and, 4) designate a "systemic supervisor." The Forum opposes legislation to preemptively dismantle or limit the activities of well-capitalized and well-managed financial institutions, believes that imposing haircuts on secured creditors to financial institutions in resolution would introduce systemic risk into the financial system, supports maintaining the establishment of uniform national banking to ensure an efficient banking system, opposes calculating risk based deposit assessments on an insured depository's total assets rather than total domestic deposits, supports retaining supervisory authority of the Federal Reserve and supports post-funding of a new systemic risk resolution fund. The Forum supports risk retention requirements for mortgage originators and securitizers and establishing a new Office of Insurance within the Treasury Department. The Forum supports enhancement of consumer protection and believes that it should be a part of the policy response to the financial crisis. The Forum supports working with policy makers to ensure that consumers, depositors, investors, and policyholders enjoy the world's most steadfast and effective protection of their interests. The Forum supports executive compensation policies that reward attention to risk management and aligns incentives with the long-term viability and safety and soundness of financial institutions. H.R. 4375 & S. 2886, "the Glass-Steagall Restoration Act" - The Forum supports retaining a provision in "the Gramm-Leach-Bliley Act" that allows for the creation of financial holding companies (FHC) in which the FHC serves as an umbrella corporation for other financial subsidiaries. The Glass-Stegall Restoration Act would repeal this provision. The financial holding company structure structure did not contribute to the financial crisis. The Forum believes the appropriate policy response is enhanced supervision to minimize financial instability, coupled with resolution authority to end "too-big-to-fail." H.R. 3795, the Over the Counter Derivatives Markets Act, H.R. 2454, "the American Clean Energy and Security Act," H.R. 2448 "the Prevent Unfair Manipulation of Prices Act," H.R. 977, "the Derivatives Markets Transparency and Accountability Act" - Derivatives are important tools that enable companies to minimize and manage their exposure to a wide range of risks, thereby freeing up vital capital for other uses. The Forum believes that financial derivatives should be subject to prudential supervision and supports the establishment of a systemic risk supervisor to monitor, assess and address systemic risk, in continuous interaction with functional regulators to address any threats to the financial system, including in the derivatives markets. APEC Privacy Framework - The Forum supports an APEC Privacy Framework that does not unduly restrict the global flow of data which is vital for financial institutions to meet customer needs and serve them efficiently. Capital Requirements - The Forum supports regulatory capital requirements that ensure safety, soundness and systemic stability while not undermining lending that stimulates economic growth and job creation. Capital Market Competitiveness generally - The Forum supports the free flow of capital and open and competitive U.S. markets. The Forum also supports maintaining the United States as an attractive place for investment and a continued leader in the global economy.

HR 4300 - Restoring America's Commitment to Consumers Act - Provisions that may outline new requirements for our credit card providers. S 2886 - Banking Integrity Act - Provisions prohibiting a depository institution from engaging in the business of insurance or any insurance-related activity. HR 4375 - Glass-Steagall Restoration Act - Provisions prohibiting a depository institution from engaging in the business of insurance or any insurance-related activity and the implications for our business. S 1700/HR 3904 - FAIR Overdraft Coverage Act - Regulations pertaining to marketing and overdraft coverage programs, limits on overdraft fees and ATM transaction requirements. HR 3763 - Review of which companies would be excluded from Red Flag Guidelines.

Client expense: $273,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Financial Oversight Commission Act of 2009 - H.R. 74, all provisions; Financial Product Safety Commission Act of 2009 - S. 566, all provisions; Consumer Financial Protection Agency - H.R. 3126, all provisions; Wall Street Reform and Consumer Protection Act of 2009 - H.R. 4173, all provisions; Banking Integrity Act of 2009 H.R. 4375/S. 2886, all provisions

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

S.344 Hedge Fund Transparency Act S.360, the Cap Executive Officer Pay Act of 2009 (all provisions) S. 605, A bill to require the Securities and Exchange Commission to reinstate the uptick rule and effectively regulate abusive short selling activities S. 651, the Compensation Fairness Act of 2009 (all provisions) S. 1540, the Resolution Reform Act of 2009 (all provisions) S.1074 : A bill to provide shareholders with enhanced authority over the nomination, election, and compensation of public company executives. S. 2886, the Banking Integrity Act of 2009 (all provisions) Draft Senate legislation to restructure financial services regulation (all provisions) H.R. 302, To require the Securities and Exchange Commission to reinstate the uptick rule on short sales of securities H.R.711, Hedge Fund Adviser Registration Act of 2009 H.R. 977, the Derivatives Markets Transparency Accountability Act H.R. 1406, To direct the Securities and Exchange Commission to reinstate the "uptick rule" on short sales of securities and to suspend the application of mark-to-market accounting principles H.R. 1575, the End Government Reimbursement of Excessive Executive Disbursements (End GREED) Act (all provisions) 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. H.R. 3068, the TARP for Main Street Act of 2009 (all provisions) H.R. 3126, the Consumer Financial Protection Agency Act (all provisions) H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act (all provisions) H.R. 3594, the TARP Recipient Ownership Trust Act of 2009 (all provisions) H.R. 3795, the Over-the-Counter Derivatives Markets Act of 2009 (all provisions) H.R. 3890, the Accountability and Transparency in Rating Agencies Act (all provisions) H.R. 3996, the Financial Stability Improvement Act of 2009 (all provisions) H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (all provisions) H.R. 4375, the Glass-Steagall Restoration Act (all provisions) Letter to express support for ABA letter regarding recommendations to help well-managed, viable banks address their capital needs. Auction Announcement, New Small banks capital program, ABA recommendations.

S.344 Hedge Fund Transparency Act S.360, the Cap Executive Officer Pay Act of 2009 (all provisions) S. 605, A bill to require the Securities and Exchange Commission to reinstate the uptick rule and effectively regulate abusive short selling activities S. 651, the Compensation Fairness Act of 2009 (all provisions) S. 1540, the Resolution Reform Act of 2009 (all provisions) S.1074 : A bill to provide shareholders with enhanced authority over the nomination, election, and compensation of public company executives. S. 2886, the Banking Integrity Act of 2009 (all provisions) Draft Senate legislation to restructure financial services regulation (all provisions) H.R. 302, To require the Securities and Exchange Commission to reinstate the uptick rule on short sales of securities H.R.711, Hedge Fund Adviser Registration Act of 2009 H.R. 977, the Derivatives Markets Transparency Accountability Act H.R. 1406, To direct the Securities and Exchange Commission to reinstate the "uptick rule" on short sales of securities and to suspend the application of mark-to-market accounting principles H.R. 1575, the End Government Reimbursement of Excessive Executive Disbursements (End GREED) Act (all provisions) 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. H.R. 3068, the TARP for Main Street Act of 2009 (all provisions) H.R. 3126, the Consumer Financial Protection Agency Act (all provisions) H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act (all provisions) H.R. 3594, the TARP Recipient Ownership Trust Act of 2009 (all provisions) H.R. 3795, the Over-the-Counter Derivatives Markets Act of 2009 (all provisions) H.R. 3890, the Accountability and Transparency in Rating Agencies Act (all provisions) H.R. 3996, the Financial Stability Improvement Act of 2009 (all provisions) H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (all provisions) H.R. 4375, the Glass-Steagall Restoration Act (all provisions) Letter to express support for ABA letter regarding recommendations to help well-managed, viable banks address their capital needs. Auction Announcement, New Small banks capital program, ABA recommendations.

Financial Regulatory Reform and Modernization - The Forum supports modernization and reform of the financial regulatory system to ensure the safety and soundness of financial institutions, the stability of the U.S. financial system and the protection of the varied interests of depositors, consumers, and investors. H.R. 4173, "the Wall Street Reform and Consumer Protection Act" and "the Restoring American Financial Stability Act" (Committee Print) - The Forum supports financial regulatory reform that would: 1) establish resolution authority to end "too-big-to- fail" 2) enhance consumer protections; 3) regulate over-the-counter derivatives; and, 4) designate a systemic supervisor. The Forum opposes legislation to preemptively dismantle or limit the activities of well-capitalized and well-managed financial institutions, believes that imposing haircuts on secured creditors to financial institutions in resolution would introduce systemic risk into the financial system, opposes limits on ownership of clearinghouses, exchanges and swap execution facilitations, supports maintaining the establishment of uniform national banking to ensure an efficient banking system, opposes calculating risk based deposit assessments on an insured depository's total assets rather than total domestic deposits, retaining supervisory authority of the Federal Reserve and opposes prefunding of a new systemic risk resolution fund. The Forum supports risk retention requirements for mortgage originators and securitizers and establishing a new Office of Insurance within the Treasury Department. The Forum supports enhancement of consumer protection and believes that it should be a part of the policy response to the financial crisis. The Forum supports working with policy makers to ensure that consumers, depositors, investors, and policyholders enjoy the world's most steadfast and effective protection of their interests. The Forum supports executive compensation policies that reward attention to risk management and aligns incentives with the long-term viability and safety and soundness of financial institutions. H.R. 4375 & S. 2886, "the Glass-Steagall Restoration Act" - The Forum supports retaining a provision in "the Gramm-Leach-Bliley Act" that allows for the creation of financial holding companies (FHC) in which the FHC serves as an umbrella corporation for other financial subsidiaries. The Glass-Stegall Restoration Act would repeal this provision. The Forum opposes the legislation because this corporate structure did not contribute to the financial crisis. The Forum believes the appropriate policy response is enhanced supervision to minimize financial instability, coupled with resolution authority to end "too-big-to-fail." H.R. 3795, the Over the Counter Derivatives Markets Act, H.R. 2454, "the American Clean Energy and Security Act," H.R. 2448 "the Prevent Unfair Manipulation of Prices Act," H.R. 977, "the Derivatives Markets Transparency and Accountability Act" - Derivatives are important tools that enable companies to minimize and manage their exposure to a wide range of risks, thereby freeing up vital capital for other uses. The Forum believes that financial derivatives should be subject to prudential supervision and supports the establishment of a systemic risk supervisor to monitor, assess and address systemic risk, in continuous interaction with functional regulators to address any threats to the financial system, including in the derivatives markets. APEC Privacy Framework - The Forum supports an APEC Privacy Framework that does not unduly restrict the global flow of data which is vital for financial institutions to meet customer needs and serve them efficiently. Capital Requirements - The Forum supports regulatory capital requirements that ensure safety, soundness and systemic stability while not undermining lending that stimulates economic growth and job creation. Capital Market Competitiveness generally - The Forum supports the free flow of capital and open and competitive U.S. markets. The Forum also supports maintaining the United States as an attractive place for investment and a continued leader in the global economy.

S.344 Hedge Fund Transparency Act S. 360, the Cap Executive Officer Pay Act of 2009 (all provisions) S. 605, A bill to require the Securities and Exchange Commission to reinstate the uptick rule and effectively regulate abusive short selling activities S. 651, the Compensation Fairness Act of 2009 (all provisions) S. 1540, the Resolution Reform Act of 2009 (all provisions) S.1074 : A bill to provide shareholders with enhanced authority over the nomination, election, and compensation of public company executives. S. 2886, the Banking Integrity Act of 2009 (all provisions) Draft Senate legislation to restructure financial services regulation (all provisions) H.R. 302, To require the Securities and Exchange Commission to reinstate the uptick rule on short sales of securities H.R.711, Hedge Fund Adviser Registration Act of 2009 H.R. 977, the Derivatives Markets Transparency Accountability Act H.R. 1406, To direct the Securities and Exchange Commission to reinstate the "uptick rule" on short sales of securities and to suspend the application of mark-to-market accounting principles H.R. 1575, the End Government Reimbursement of Excessive Executive Disbursements (End GREED) Act (all provisions) 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. H.R. 3068, the TARP for Main Street Act of 2009 (all provisions) H.R. 3126, the Consumer Financial Protection Agency Act (all provisions) H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act (all provisions) H.R. 3594, the TARP Recipient Ownership Trust Act of 2009 (all provisions) H.R. 3795, the Over-the-Counter Derivatives Markets Act of 2009 (all provisions) H.R. 3890, the Accountability and Transparency in Rating Agencies Act (all provisions) H.R. 3996, the Financial Stability Improvement Act of 2009 (all provisions) H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (all provisions) H.R. 4375, the Glass-Steagall Restoration Act (all provisions)

Financial Oversight Commission Act of 2009 - H.R. 74, all provisions; Financial Product Safety Commission Act of 2009 - S. 566, all provisions; Consumer Financial Protection Agency - H.R. 3126, all provisions; Wall Street Reform and Consumer Protection Act of 2009 - H.R. 4173, all provisions; Banking Integrity Act of 2009 H.R. 4375/S. 2886, all provisions

Client expense: $250,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Insurance Regulatory Reform HR 1880 - "The National Insurance Consumer Protection Act" - Creates a federal insurance regulator HR 1479 - "Community Reinvestment Modernization Act of 2009" - Modifies and expands CRA to include non-bank institutions such as insurers HR 83 - "Homeowners Insurance Protection Act" - Creates a national catastrophic insurance fund to sell low-cost reinsurance contracts to state catastrophe funds, as well as set up a natural catastrophe commission HR 998 - "Policyholder Disaster Protection Act of 2009" - Amends the IRS Code of 1986 to provide for the creation of disaster protection funds by property and casualty insurance companies for the payment of policyholders' claims arising from future catastrophic events HR 1264 - "Multiple Peril Insurance Act of 2009" - Expands National Flood Insurance Program to include wind coverage HR 3059/S1368 - "Access to Repair Parts Act of 2009" - Amends patent law to allow for the use of after-market replacement auto crash parts HR 2571/S1363 - "Non-Admitted and Reinsurance Reform Act of 2009" - Reforms the surplus lines and reinsurance industries HR 2554 - "National Association of Registered Agents and Brokers Reform Act of 2009" - Creates national standards for insurance agents and brokers HR 3126 - "Consumer Financial Protection Agency Act of 2009" - Creates new agency to regulate various financial products Financial Regulatory Reform - Treasury White Paper and draft legislative titles, not yet introduced in Congress - Restructures financial services regulatory framework HR 2592 - "Safe Building Code Incentive Act of 2009" - Provides for incentives to states for passing and enforcing strict building codes S 886 - "Catastrophe Obligation Guarantee Act" - Establishes bond guarantees for states involved in earthquakes and hurricanes HR 3139 - (No Title) - Extends the National Flood Insurance Program (NFIP) through March 31, 2010 HR 3795 - "Over-the-Counter Derivatives Markets Act of 2009" - Regulations for OTC derivatives products /usage HR 3818 - "Private Fund Investment Advisers Registration Act of 2009" - Regulations on hedge funds/usage HR 3890 - "Accountability and Transparency in Rating Agencies Act" - Regulations on credit rating agencies HR 3817 - "Investor Protection Act of 2009" - Regulations on securities broker-dealers HR 2609 - Federal Insurance Office Act of 2009 - Establishes an office in Treasury Department to educate and collect data on insurance HR 3996 - "Financial Stability Improvement Act of 2009" - Systemic risk legislation HR 4173 - "The Wall Street Reform and Consumer Protection Act" - Combined legislation of bills listed above HR 4375/S 2886 - "The Banking Integrity Act of 2009" - Repeals Glass-Steagall Act