To amend the Internal Revenue Code of 1986 to expand and make permanent rules related to investment by nonresident aliens in domestic mutual funds.

Derivatives: Monitor new rules and changes of regulation for derivatives and commodity indexed funds and activity within Congress, especially in the context of H.R. 4173, the Wall Street Reform and Consumer Protection Act and implementation by the CFTC. Systemic Risk: Argue that asset managers should not be designated as systemically important financial institutions under sec.133 of Dodd-Frank. Also track international developments regarding systemic risk designation. Consumer Financial Protection Bureau: Monitor inclusion of this new agency in H.R. 4173, the Wall Street Reform and Consumer Protection Act and its implementation. Target Date Funds: Monitor possible legislation and SEC as well as Department of Labor regulatory activities. SEC and Money Markets: Monitor and see proposed SEC regulations. Mutual Funds: Advocate for the ability to defer annual capital gains taxation of dividends that are reinvested in mutual funds. Lobby in favor of H.R. 4623, to make permanent rules related to investment by nonresident aliens in domestic Mutual Funds. Fiduciary Duty: Monitor the SEC's efforts to establish a uniform fiduciary duty standard of investment advisers and broker-dealers. Monitor the DOL's efforts to change the fiduciary standard under ERISA. Whistleblower Program: Monitor and oppose SEC rulemaking implementing a provision in the Dodd-Frank Act that creates a new Whistleblower program with the agency. CFTC: Argue against rule that would impose position limits on commodity index mutual funds.

Client expense: $560,000 · Firm income: Not reported

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

FCC regulations related to Federal Universal Service Fund and intercarrier compensation; HR 3675 and S. 2008, the Next Generation Television Marketplace Act; HR 4623, the SECURE IT Act; S. 3414, the Cybersecurity Act of 2012; FCC oversight of Verizon-SpectrumCo commercial agreements; GSA policies on federal procurement of cloud computing services;

Client expense: $450,000 · Firm income: Not reported

Government targets: Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, SENATE

S. 1346 - Stop Tax Haven Abuse Act S. 1787 - Wall Street Trading and Speculators Tax Act S. 2033 - Closing the Derivatives Blended Rate Loophole Act S. 2075 - CUT Loopholes Act S. 1647 - Tax Hike Prevention and Business Certainty Act S. 3412 - Middle Class Tax Cut Act S. 3521 - Family and Business Tax Cut Certainty Act of 2012 H.R. 8 - Job Protection and Recession Prevention Act of 2012 H.R. 2669 - Stop Tax Haven Abuse Act H.R. 3091 - Tax Hike Prevention and Business Certainity Act H.R. 4623 - Make Permanent the Exemption for Certain Dividents Paid by RICs to Nonresident Aliens Capital Gains/Dividends Tax Rate Extension Comprehensive Tax-Reform Flow-through/Tax Extenders Annual Deferral Limits for Retirement Plans Foreign Account Tax Compliance Act International Regulated Investment Company Tax-Exemption for Municipal Bonds Tax Treatment of Financial Products/ETNs RIC Modernization Act Technical Corrections

Client expense: $1,556,769 · Firm income: Not reported

Issues related to foreign reinsurance taxation (H.R. 3157); issues related to IRC 162(m); issues related to treatment of insurance under the Foreign Account Tax Compliance Act, issues related to IRC 871(k) (H.R. 4623, S. 3521).

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

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

Modification and extension of withholding tax provision for foreign persons investing in U.S. mutual funds (IRC section 871(k)) (H.R. 4623, S 3521); taxation of carried interest; issues related to tax treaties.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Derivatives: Monitor new rules and changes of regulation for derivatives and commodity indexed funds and activity within Congress, especially in the context of H.R. 4173, the Wall Street Reform and Consumer Protection Act and implementation by the CFTC. Systemic Risk: Argue that asset managers should not be designated as systemically important financial institutions under sec. 113 of Dodd-Frank. Also track international developments regarding systemic risk designation. Consumer Financial Protection Bureau: Monitor inclusion of this new agency in H.R. 4173, the Wall Street Reform and Consumer Protection Act and its implementation. Target Date Funds: Monitor possible legislation and SEC as well as Department of Labor regulatory activities. SEC and Money Markets: Monitor and see proposed SEC regulations. Mutual Funds: Advocate for the ability to defer annual capital gains taxation of dividends that are reinvested in mutual funds. Lobby in favor of H.R. 4623, to make permanent rules related to investment by nonresident aliens in domestic Mutual Funds. Fiduciary Duty: Monitor the SEC's efforts to establish a uniform fiduciary duty standard of investment advisers and broker-dealers. Monitor the DOL's efforts to change the fiduciary standard under ERISA. Whistleblower Program: Monitor and oppose SEC rulemaking implementing a provision in the Dodd-Frank Act that creates a new Whistleblower program with the agency. CFTC: Argue against rule that would impose position limits on commodity index mutual funds.

Client expense: $560,000 · Firm income: Not reported

FCC regulations relating to federal Universal Service Fund and intercarrier compensation policies; HR 3675 and S. 2008, the Next Generation Television Marketplace Act; HR 3523, the Cybersecurity Intelligence Sharing and Protection Act (CISPA); HR 3674, teh Promoting and Enhancing Cybersecurity Information Sharing and Effectiveness ("PRECISE") Act; S. 2151 and HR 4623, the Strengthening and Enhancing Cybersecurity by Using Research, Education and Information Technology ("SECURE IT") Act; S. 2105, the Cybersecurity Act of 2012; Policies to avoid "cramming" of unauthorized charges on consumer phone bills; Online consumer privacy

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

Government targets: Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, SENATE

Issues related to foreign reinsurance taxation (H.R. 3157); issues related to IRC 162(m); issues related to treatment of insurance under the Foreign Account Tax Compliance Act, issues related to IRC 871(k) (H.R. 4623).

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

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

Modification and extension of withholding tax provision for foreign persons investing in U.S. mutual funds (IRC section 871(k)) (H.R. 4623); taxation of carried interest; issues related to tax treaties.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Derivatives: Monitor new rules and changes of regulation for derivatives and commodity indexed funds, and activity within Congress, especially in the context of H.R. 4173, the Wall Street Reform and Consumer Protection Act and implementation by the CFTC. Systemic Risk: Argue that asset managers should not be designated as systemically important financial institutions under sec. 113 of Dodd-Frank. Also track international developments regarding systemic risk designation. Consumer Financial Protection Bureau: Monitor inclusion of this new agency in H.R. 4173, the Wall Street Reform and Consumer Protection Act and its implementation. Target Date Funds: Monitor possible legislation and SEC as well as Department of Labor regulatory activities. SEC and Money Markets: Monitor and see proposed SEC regulations Mutual Funds: Advocate for the ability to defer annual capital gains taxation of dividends that are reinvested in mutual funds. Lobby in favor of H.R. 4623, to make permanent rules related to investment by nonresident aliens in domestic Mutual Funds. Fiduciary Duty: Monitor the SEC's efforts to establish a uniform fiduciary duty standard of investment advisers and broker-dealers. Monitor the DOL's efforts to change the fiduciary standard under ERISA. Whistleblower Program: Monitor and oppose SEC rulemaking implementing a provision in the Dodd-Frank Act that creates a new Whistleblower program with the agency. CFTC: Argue against rule that would impose position limits on commodity index mutual funds.

Client expense: $560,000 · Firm income: Not reported