Investment Adviser Oversight Act of 2012

H.R. 4624 - Investment Adviser Oversight Act of 2012; regarding SROs. Issues and legislation related to taxes and carried interest.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 4624 - Investment Adviser Oversight Act of 2012; regarding SROs. Issues and legislation related to taxes and carried interest.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 4624 - Investment Adviser Oversight Act of 2012; regarding SROs. Issues and legislation related to taxes and carried interest.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to H.R. 4173, "The Dodd-Frank Wall Street Reform and Consumer Protection Act", H.R. 677 "Lifetime Income Disclosure Act", S. 267, "Lifetime Income Disclosure Act", H.R. 1062, "Burdensome Data Collection Relief Act", Issues related to H.R. 2308, The SEC Regulatory Accountability Act, Issues related to H.R. 2434, Financial Services and General Government Appropriations Act, 2012, H.R. 4624, The Investment Adviser Oversight Act of 2012Issues related to H.R. 3606, The Jumpstart our Business Startups Act

Client expense: $507,675 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to H.R. 4173, The Dodd-Frank Wall Street Reform and Consumer Protection Act, H.R. 677 Lifetime Income Disclosure Act, S. 267, Lifetime Income Disclosure Act, H.R. 1062, Burdensome Data Collection Relief Act, Issues related to H.R. 2308, The SEC Regulatory Accountability Act, Issues related to H.R. 2434, Financial Services and General Government Appropriations Act, 2012, H.R. 4624, The Investment Adviser Oversight Act of 2012 Issues related to H.R. 3606, The Jumpstart our Business Startups Act

Client expense: $526,607 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues pertaining to DFA Section 913 - fiduciary; issues pertaining to DFA Section 914 - SRO for investment advisors; issues pertaining to Department of Labor's proposed definition of fiduciary regulation; issues pertaining to Money Market Mutual Fund Regulation; HR 4624, Investment Adviser Oversight Act of 2012, all provisions.

Client expense: $1,500,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

Regulation of securities industry and markets; harmonization of regulation of broker-dealers and investment advisers; H.R. 4624

Client expense: Not reported · Firm income: $75,000

HR 4050, HR 4624 - Discussed the impact of proposed changes to the provision of investment advice, fee disclosure, an index fund mandate, target date funds and plan fiduciaries' responsibilities with respect to brokerage windows in 401(k)s.

Client expense: $3,160,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Defense, Dept of (DOD), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 4624 - Investment Adviser Oversight Act of 2012; regarding SROs. Issues and legislation related to taxes and carried interest.

Client expense: Not reported · Firm income: $60,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 4624 H.R. 6204 Investment Adviser Act of 1940 financial services legislation

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

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

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1053 (stock quote decimalization); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1341 (A bill to provide a point of order against consideration of any measure that would increase the statutory limit on the public debt above $14.294 trillion unless that measure has been publicly available for a full 7 calendar days before consideration on the floor of the Senate); H.R. 1438 (Regulation Moratorium and Jobs Preservation Act of 2011); H.R. 1532 (A bill to amend the Budget Control Act of 2011 to require the joint select committee of Congress to report findings and propose legislation to restore the Nation's workforce to full employment over the period of fiscal years 2012 and 2013); H.R. 1535 (Personal Data Protection and Breach Accountability Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1544 (Small Company Capital Formation Act of 2011); H.R. 1550 (National Infrastructure Bank Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1838 (To repeal a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibiting any Federal bailout of swap dealers or participants); H.R. 1840 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2167 (Private Company Flexibility Act); H.R. 2308 (SEC Regulatory Accountability Act); H.R. 2313 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); H.R. 2413 (Secondary Market Facility for Residential Mortgages Act of 2011); H.R. 2483 (Whistleblower Improvement Act); H.R. 2517 (Shareholder Protection Act of 2011); H.R. 2586 (Swap Execution Facility Clarification Act); H.R. 2603 (Maintaining Agency Direction on Financial Fraud Act); H.R. 2612 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Bureau of Consumer Financial Protection to prohibit certain acts or practices); H.R. 2651 (To require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes); H.R. 2682 (Business Risk Mitigation and Price Stabilization Act); H.R. 2779 (To exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act); H.R. 2827 (To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes); H.R. 2855 (Emergency Jobs Now Act); H.R. 2930 (Entrepreneur Access to Capital Act); H.R. 2931 (Full Faith and Credit Act); H.R. 2940 (Access to Capital for Job Creators Act); H.R. 2964 (Unfunded Mandates Accountability Act); H.R. 3010 (Regulatory Accountability Act of 2011); H.R. 3078 (United States-Colombia Trade Promotion Agreement Implementation Act); H.R. 3079 (United States-Panama Trade Promotion Agreement Implementation Act); H.R. 3080 (United States-Korea Free Trade Agreement Implementation Act); H.R. 3084 (Mortgage Credit Availability Act of 2011); H.R. 3128 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to adjust the date on which consolidated assets are determined for purposes of exempting certain instruments of exempting smaller institutions from capital deductions); H.R. 3213 (Small Company Job Growth and Regulatory Relief Act of 2011); H.R. 3283 (Swap Jurisdiction Certainty Act); H.R. 3313 (Wall Street Trading and Speculators Tax Act); H.R. 3318 (Growing Jobs Through Capital Act of 2011); H.R. 3336 (Small Business Credit Availability Act); H.R. 3527 (Protecting Main Street End-Users From Excessive Regulation); H.R. 3530 (Freddie Mac Debt Reduction Act of 2011); H.R. 3606 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); H.R. 3635 (Investing in America's Small Businesses Act of 2011); H.R. 3644 (Private Mortgage Market Investment Act); H.R. 3655 (Small Business Access to Capital Act of 2011); H.R. 3665 (Wall Street Accountability through Sustainable Funding Act); H.R. 3733 (Affordable Mortgage for Homeowners Act of 2011); H.R. 3871 (Proprietary Information Protection Act of 2012); H.R. 4088 (Capital Expansion Act); H.R. 4235 (To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to repeal the indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities under such Acts.); H.R. 4624 (Investment Advisor Oversight Act of 2012); H.R. 5973 (Commodity Futures Trading Commission (CFTC) appropriations bill); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 556 (A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1276 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); S. 1544 (Small Company Capital Formation Act of 2011); S. 1619 (The Currency Exchange Act); S. 1641 (A Bill to Implement the U.S.-Colombia Trade Promotion Agreement); S. 1642 (A Bill to Implement the U.S.-Korea Trade Promotion Agreement); S. 1643 (A Bill to Implement the U.S.-Panama Trade Promotion Agreement); S. 1650 (Dodd-Frank Improvement Act of 2011); S. 1787 (Wall Street Trading and Speculators Tax Act); S. 1791 (Democratizing Access to Capital Act of 2011); S. 1824 (Private Company Flexibility and Growth Act); S. 1831 (Access to Capital for Job Creators Act); S. 1835 (United States Covered Bond Act); S. 1907 (PCAOB Enforcement Transparency Act of 2011); S. 1933 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); S. 1941 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1962 (Startup Expansion and Investment Act); S. 1963 (Mortgage Finance Act of 2011); S. 1970 (CROWDFUND Act); S. 1975 (No More IMF Bailouts Act); S. 1997 (FHA Bailout Protection Act of 2011); S. 2033 (Closing the Derivatives Blended Rate Loophole Act); S. 2038 (STOCK Act); S. 2055 (A bill to amend the Federal Deposit Insurance Act with respect to the protection of certain information.); S. 2102 (Cybersecurity Information Sharing Act of 2012); S. 2105 (Cybersecurity Act of 2012); S. 3414 (A bill to enhance the security and resiliency of the cyber and communications infrastructure of the United States.); S. 3620 (A bill to amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes.); S. Amdt. 1818 to S. 1813 (offshore tax havens); SR-NASDAQ-2012-005 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Establish an Enhanced Display Distributor Fee); SR-NASDAQ-2012-042 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Re-organize NASDAQ's Rules Governing the Fees Applicable to NASDAQ's Depth-of-Book Market Data); SR-NASDAQ-2012-044 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify the Fees Applicable to Non-Display Usage of Certain NASDAQ Depth-of-Book Market Data); SR-NYSEArca-2011-96 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for the NYSE Arca Integrated Data Feed); FINRA Rule 4560 (short interest reporting); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Recordkeeping under Exchange Act Rule 17a-4(b)(4); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Asian Pacific Economic Council Privacy Issues; Bilateral Investment Treaties, India; Eminent domain; Russia Permanent Normal Trade Relations; Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; 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; Amendments to the 2012 Indian Finance Bill; Regulatory Capital Requirements; Single Platform/Government Sponsored Enterprises; SEC Regulation AB2; Trust Indenture Act; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; Tax-exemption for municipal bonds; Cross-border guidance; CFTC exemptive order on extraterritorial scope of Title VII; Tri-party repo; Computerized trading; Market Data Exchange Act Section 19 (and related rules); Legal entity identifier (LEI); Jumpstart our Business Startups (JOBS) Act implementation; Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) consultation paper on margin requirements for uncleared derivatives.

Client expense: $1,400,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), 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 4624, the Investment Adviser Oversight Act. HR 6204, the Investment Adviser Examination Improvement Act. HR 2308, the SEC Regulatory Accountability Act. S 1615, the Financial Regulatory Responsibility Act. S. 3637, a bill to temporarily extend the transaction account guarantee program. Regulatory proposals related to money market funds, including FSOC-2012-0003. Regulatory proposals related to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including consumer protection; systemic risk; market structure; orderly liquidation authority; and the "Volcker Rule."

Client expense: $1,120,000 · Firm income: Not reported

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

Issues pertaining to DFA Section 913 - fiduciary; issues pertaining to DFA Section 914 - SRO for investment advisors; issues pertaining to Department of Labor's proposed definition of fiduciary regulation; issues pertaining to Money Market Mutual Fund Regulation; HR 4624, Investment Adviser Oversight Act of 2012, all provisions.

Client expense: $1,500,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

H.R. 4624, INVESTMENT OVERSIGHT ACT OF 2012, OPPOSED LEGISLATION THAT WOULD DELEGATE GOVERNMENTAL AUTHORITY FOR OVERSIGHT OF INVESTMENT ADVISORS TO ONE OR MORE SELF-REGULATORY ORGANIZATION (SROs) H.R. 2483, WHISTLEBLOWER IMPROVEMENT ACT OF 2011, OPPOSEDREP. GRIMMS BILL THAT WOULD EVISCERATE THE SECS WHISTLEBLOWER PROGRAM (PASSED BY BY THE HOUSE FSCS SUBCOMMITTEE ON CAPITAL MARKETS 12/14/11) H.R. 6204, INVESTMENT ADVISER EXAMINATION IMPROVEMENT ACT OF 2012, OPPOSED EXPANDING SELF REGULATION OF INVESTMENT ADVISORS AND SUPPORTING OVERSIGHT BY THE SEC

Client expense: $10,000 · Firm income: Not reported

Government targets: Defense, Dept of (DOD), Energy, Dept of, Executive Office of the President (EOP), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Justice, Dept of (DOJ), Natl Archives & Records Administration (NARA), Office of Government Ethics (OGE), Office of Management & Budget (OMB), SENATE

Implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to broker-dealers and financial advisors. H.R. 2308, SEC Regulatory Accountability Act, provisions regarding cost benefit of Securities and Exchange Commission rules. Securities Investment Protection Corporation modernization. H.R. 4624, Investment Advisor Oversight Act of 2012, authorizing the establishment of a self-regulatory organization for investment advisors. H.R. 757, Equitable Treatment of Investors Act, all provisions.

Client expense: Not reported · Firm income: $37,500

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Discussed financial regulatory reforms, including consumer and investor protections. (no bill) Pub.Law 111-203, Dodd-Frank Wall Street Reform and Consumer Protection Act - Discussed implementation of legislation. H.R.677/S.267, the Lifetime Income Disclosure Act-Supported the original co-sponsors of the House and Senate versions of the Lifetime Income Disclosure Act. This legislation would provide individuals with a better understanding of the lifetime value of their 401(k) plan assets by including in a yearly benefit statement a conversion of their total accrued benefits into a monthly dollar amount as if they had opted to receive a lifetime annuity. Discussed pending DOL and SEC regulations on the definition of a fiduciary. (no bill) H.R. 1125, Debt free America Act - Discussed legislation to repeal after 2021 the individual income tax, refundable and non-refundable personal tax credits, and the alternative minimum tax (AMT) on individuals and impose a 1% fee on bank transactions for debt reduction purposes. H.R.2940/S.1831, Parts of the JOBS Act Package - Lobbied and wrote a letter in opposition to pairing back Regulation D protections in stock offerings. H.R.2930/S.1970/S.1791, Parts of JOBS Act Package - Lobbied to restore consumer protections regarding "crowd funding" of initial public offerings (IPO's) that the bill curtailed. H.R. 3606, JOBS Act - Lobbied and wrote in support of the Reid/Levin/Landrieu amendment in the nature of a substitute, and in favor of the "crowd funding" amendment. Presented testimony and worked with Staff of the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity, on Federal Housing Administration oversight of reverse mortgages. AARP seeks continuation of, and improvement to the program. (no bill) Discussed implications of H.R. 4624, the "Investment Advisor Oversight Act." Responded to SEC request for Comment on Financial Literacy and Disclosure. H.R. 6020/S.3301, Financial Services and General Government Appropriations Act for FY 2013 - Lobbied to protect new Consumer Financial Protection Bureau from annual appropriations scrutiny and to protect funding levels for SEC, CFTC, FTC and IRS Taxpayer Services programs. H.R. 4078, the Red Tape Reduction and Small Business Job Creation Act - sent letter to all members of the House opposing the title incorporating H.R. 2308, the SEC Regulatory Accountability Act. S. 3468, the Independent Agency Regulatory Analysis Act - Lobbied for Senate Homeland Security and Governmental Affairs Committee hearings and input from agencies before a committee mark up. Participated in August 1 roundtable at the Department of Treasury to discuss implementation of the JOBS Act. Wrote to the Securities and Exchange Commission recommending that they not move to an interim final rule on general solicitation and advertising under the JOBS Act without first receiving comment from the public. S. 3468, the "Independent Agency Regulatory Analysis Act," - Lobbied members of the Senate Homeland Security and Governmental Affairs Committee in opposition to the bill; discussed concerns with the bill and sent letter to members of the Homeland Security and Governmental Affairs Committee expressing concern with the bill. Submitted letter to the Securities and Exchange Commission expressing concern with proposed rulemaking on general solicitation and advertising in Rule 506 offerings under the JOBS Act. Discussed Dodd-Frank and JOBS Act implementation. H.R. 8, the American Taxpayer Relief Act of 2012 - Lobbied against inclusion of Social Security, Medicare and Medicaid legislation affecting benefit levels or service delivery in any end-of-the-session budget deal, and urged congress to not reduce spending levels below current services levels for various non-security discretionary programs, including Health Care (including Rx, medical research and premium support), Social Security (administrative expenses), Older Americans Act Supportive Service, Nutrition and Caregiver programs, Low Income Home Energy Assistance, Weatherization, Elderly Housing and Transit/Transportation, Legal and Taxpayer Assistance, Consumer and Worker Protections and Postal Services.

Client expense: $2,490,000 · Firm income: Not reported

Government targets: Administration on Aging, Agriculture, Dept of (USDA), Bureau of the Census, Centers For Medicare and Medicaid Services (CMS), Commodity Futures Trading Commission (CFTC), Equal Employment Opportunity Commission (EEOC), Executive Office of the President (EOP), Federal Communications Commission (FCC), Federal Energy Regulatory Commission (FERC), Federal Highway Administration (FHA), Federal Reserve System, Federal Trade Commission (FTC), Federal Transit Administration (FTA), Food & Drug Administration (FDA), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Health Resources & Services Administration (HRSA), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Medicare Payment Advisory Commission (MedPAC), Natl Highway Traffic Safety Administration (NHTSA), Office of Management & Budget (OMB), Office of Personnel Management (OPM), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Social Security Administration (SSA), Transportation, Dept of (DOT), Treasury, Dept of, White House Office

Dodd-Frank implementation. Self-regulatory Organizations and the regulation of broker-dealers. The operation and oversight of the National Market System. Proposals to enhance the regulation of investment advisors. H.R. 4624

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Implementation of H.R. 4173, Dodd-Frank Wall Street Reform and Consumer Protection Act;SEC Proposed Rule on "Mutual Fund Distribution Fees"; SEC study on Investment Advisers and Broker-Dealers, as required by Section 913 of the Dodd-Frank Wall Street Reform and Consumer Protection Act; study required under Dodd-Frank Act Section 914 oversight of investment advisers; HR 4624 A bill to amend the Investment Advisers Act of 1940 to provide for registration and oversight over national investment advisers assn's HR 6204 Investment Adviser Examination Improvement Act of 2012.

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

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

Implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to broker-dealers and financial advisors. H.R. 2308, SEC Regulatory Accountability Act, provisions regarding cost benefit of Securities and Exchange Commission rules. Securities Investment Protection Corporation modernization. H.R. 4624, Investment Advisor Oversight Act of 2012, authorizing the establishment of a self-regulatory organization for investment advisors. H.R. 757, Equitable Treatment of Investors Act, all provisions.

Client expense: Not reported · Firm income: $37,500

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 940 - United States Covered Bond Act of 2011; entire bill H.R. 2577 - SAFE Data Act; provisions applicable to financial institutions H.R. 2827 - To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes; provisions relating to broker dealers H.R. 3523 - Cyber Intelligence Sharing and Protection Act of 2011; entire bill H.R. 4624 - Investment Adviser Oversight Act of 2012; entire bill H.R. 6204 - Investment Adviser Examination Improvement Act of 2012; entire bill H.R. 6397 - Defending American Taxpayers From Abusive Government Takings Act of 2012; entire bill H.R. 6423 - Insurance Consumer Protection and Solvency Act of 2012; entire bill S. 1151 Personal Data Privacy and Security Act of 2011; provisions applicable to financial institutions S. 1207 Data Security and Breach Notification Act of 2011; provisions applicable to financial institutions S. 1434 Data Security Act of 2011; provisions applicable to financial institutions S. 1606 Regulatory Accountability Act of 2011; entire bill S. 1615 Financial Regulatory Responsibility Act of 2011; entire bill S. 3620 - A bill to amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors; entire bill Impact of the Volcker Rule on market liquidity and international competitiveness of U.S.-owned asset managers Implementation of Sections 913/914 of Dodd-Frank Wall Street Reform and Consumer Protection Act and its inter-relationship with the DoL ERISA fiduciary definition proposal Impact of DFA and mortgage settlement initiatives on investors/creditors interests Congressional inquiry on corporate cybersecurity practices.

Client expense: $380,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to H.R. 4173, "The Dodd-Frank Wall Street Reform and Consumer Protection Act", H.R. 677 "Lifetime Income Disclosure Act", S. 267, "Lifetime Income Disclosure Act", H.R. 1062, "Burdensome Data Collection Relief Act", Issues related to H.R. 2308, "The SEC Regulatory Accountability Act", Issues related to H.R. 2434, "Financial Services and General Government Appropriations Act, 2012", H.R. 4624, The Investment Adviser Oversight Act of 2012 Issues related to H.R. 3606, The Jumpstart our Business Startups Act

Client expense: $516,139 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Public Law 111-203, HR 4173 - Dodd-Frank Wall Street Reform and Consumer Protection Act implementation and regulatory reform. H.R.1610: To provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934. H.R. 1223 - To amend the Securities Exchange Act of 1934 to ensure mortgages held or securitized by Fannie Mae and Freddie Mac and asset-backed securities issued by such enterprises are treated similarly as other mortgages and asset-backed securities for purposes of the credit risk retention requirements under such Act. HR 2682: Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties is: (1) not a financial entity, and (2) is eligible for exception from clearing requirements for certain significant price discovery agreements, contracts, or transactions in a commodity exempt from regulation by the Commodity Futures Trading Commission (CFTC). Amends the Securities Exchange Act of 1934, with respect to registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization any security-based swap in which one of the counterparties is: (1) not a financial entity, and (2) is eligible for exception from clearing requirements. H.R. 3283: clarifies Dodd-Frank Act provisions to ensure the equal treatment of U.S. firms conducting transactions outside of the U.S. and foreign firms conducting similar activities. H.R. 4235: repeals the Dodd-Frank Act indemnification requirements for regulators to obtain data from SDRs H.R.4624: Investment Adviser Oversight Act of 2012 - Amends the Investment Advisers Act of 1940 to require investment advisers to register with a registered national investment adviser association, unless exempted according to specified criteria. S. 947 To provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934 S1615: Financial Regulatory Responsibility Act-Requires financial regulators to conduct consistent economic analysis on every new rule they propose, provide clear justification for the rules, and determine the economic impacts of proposed rulemakings, including their effects on growth and net job creation. HR940, S.1835: United States Covered Bond Act of 2011 - Directs the Secretary of the Treasury to establish a regulatory oversight program for specified recourse debt obligations of an eligible issuer (covered bonds) that provides for such bonds to be maintained in a manner consistent with safe and sound asset-liability management and other financial practices.

Client expense: $394,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

S. 1615 - Financial Regulatory Responsibility Act S. 1650 - Dodd-Frank Improvement Act of 2011 S. 1834 - Residential Mortgage Market Privatization and Standardization Act of 2011 S. 1835 - United States Covered Bond Act S. 3468 - Independent Agency Regulatory Analysis Act of 2012 S. 3497 - Terminating the Expansion of Too-Big-To-Fail Act of 2012 S. 3620 - Regulation of Municipal Advisors S. 3637 - Temporarily Extend the Transaction Account Guarantee Program S. 3709 - GAO Study of Too Big to Fail H.R. 940 - United States Covered Bond Act of 2011 H.R. 1182 - GSE Bailout Elimination and Taxpayer Protection Act H.R. 1539 - Asset-Backed Market Stabilization Act of 2011 H.R. 1573 - Delay Implementation of Title VII of Dodd-Frank H.R. 1838 - Repeal DFA provision prohibiting assistance to swap dealers or participants H.R. 1840 - Consideration by the CFTC of the costs and benefits of its regulations H.R. 2308 - SEC Regulatory Accountability Act H.R. 2483 - Whistleblower Improvement Act of 2011 H.R. 2577 - Secure and Fortify Electronic Data Act H.R. 2586 - Swap Execution Facility Clarification Act H.R. 2682 - Business Risk Mitigation and Price Stabilization Act of 2011 H.R. 2779 - To exempt inter-affiliate swaps from Dodd-Frank Act H.R. 2827 - Regulation of Municipal Advisors H.R. 3606 - JOBS Act H.R. 3644 - Private Mortgage Market Investment Act H.R. 3862 - Sunshine for Regulatory Decrees and Settlements Act of 2012 H.R. 4078 - Red Tape Reduction and Small Business Job Creation Act H.R. 4624 - Investment Adviser Oversight Act H.R. 5929 - Next Steps for Credit Availability Act H.R. 6127 - Liquidity Enhancement for Small Public Companies Act H.R. 6204 - Investment Adviser Examination Improvement Act of 2012 H.R. 6317 - Terminating the Expansion of Too-Big-to-Fail Act of 2012 Draft - SEC Modernization Act CFTC Rule 4.5 Money Market Mutual Funds SIFIs Volcker Rule Use of Commodities by Mutual Funds Exchange-Traded Funds Market Structure Mandatory Audit Firm Rotation Tri-Party Repo Market Mortgage Eminent Domain FX Forwards and FX Swaps Non-deliverable Forwards

Client expense: $1,001,729 · Firm income: Not reported

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

H.R. 4624, Investment Adviser Oversight Act of 2012; possible regulations on money market funds. .

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 4624, Investment Adviser Oversight Act of 2012; possible regulations on money market funds.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 4624, Investment Adviser Oversight Act of 2012; possible regulations on money market funds.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Equity Market Structure issues. Fiduciary Duty. Investment Advisor oversight (H.R. 4624)

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

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

H.R. 3606, the JOBS Act; issues affecting state investor protection laws; and H.R. 4624, Investment Oversight Act of 2012. Monitor Senate Banking and House Financial Services for issues impacting state securities regulation.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Insurance Regulatory Reform-Implementation of the "Dodd Frank Wall Street Reform & Consumer Protection Act" (Regulations) HR 4173 - "Dodd Frank Wall Street Reform & Consumer Protection Act" - overhauls regulation of federal markets HR 1573 - A bill to facilitate implementation of Title VII of the Dodd Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption - changes effective dates and studies Title VII of Dodd-Frank Act HR 1309 - "Flood Insurance Reform Act of 2011" - reauthorizes and reforms National Flood Insurance Program S. 1940 - "A Bill to amend the National Flood Insurance Act of 1968" would restore the financial solvency of the flood insurance fund and for other purposes S. 1548 - "National Flood Insurance Program Extension Act of 2011." Reauthorizes and changes National Flood Insurance Program HR 3559 - "The Insurance Data Protection Act "A bill to prohibit the Federal Insurance Office of the Department of the Treasury and other finanacial regulators from collecting data directly from an insurance company" HR 2779- Dodd-Frank Wall Street Reform and Consumer Protection Act - To exempt inter-affiliate swaps from certain regulatory requirements HR 1112 - "National Association of Registered Agents and Brokers Reform Act of 2011." A bill to reform the National Association of Registered Agents and Brokers, insurance licensing reform and for other purposes HR 3889 - "Promoting Automotive Repair, Trade and Sales (PARTS) Act" It would limit design patents for after market car repair parts to 30 months HR 5 - "Protecting Access to Healthcare Act" Would repeal portions of McCarran-Ferguson for health insurers S. 2048 -" A bill to amend the Internal Revenue Code of 1986 to clarify the tax treatment of certain life insurance contract transactions, and for other purposes" - amends Internal Revenue Code with respect to the tax treatment of certain life insurance contract transactions HR 4348 -"The Surface Transportation Act of 2012" Title II, the Biggert-Waters Flood Insurance Reform Act of 2012 -would reform and reauthorize the NFIP for five years HR 4624 - "The Investment Advisor Oversight Act" - regulation of investments advisors & broker dealers HR 2309- "Postal Reform Act" - would reform the United States Postal Service S 353 - "U.S. Postal Service Improvements Act of 2011" - would reform the U.S. Postal Service S 1010 - "Postal Operations Sustainment and Transformation Act of 2011" - would reform the U.S. Postal Service S 1789 - "The 21st Century Postal Service Act of 2012" - USPS sale of financial services Terrorism Risk Insurance Act (TRIA) - would allow the insurance industry time to protect against acts of terrorism (set to expire at the end of 2014) "currently not in bill form" HR 4369 - FACT Act - "Furthering Asbestos Claim Transparency (FACT) Act of 2012" -amends federal bankruptcy law concerning a trust formed under a plan of reorganization following the discharge in bankruptcy of a debtor corporation in order to assume the debtor's liability with respect to claims seeking recovery for personal injury, wrongful death, or property damage allegedly caused by the presence of, or exposure to, asbestos or asbestos-containing products

Client expense: $1,340,000 · Firm income: Not reported

Government targets: Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Labor, Dept of (DOL), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Copyright Office, U.S. Postal Service (USPS)

Dodd-Frank Wall Street reform and Consumer Protection Act- related studies (Sections 913, 914, 919) Investment Advisers Oversight Act of 2012 (HR 4624) Investment Adviser Examination Improvement Act of 2012 (HR 6204)

Client expense: $108,000 · Firm income: Not reported

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

Fiduciary Duty S. 1615 - Financial Regulatory Responsibility Act S. 1787 & H.R. 3313 - Wall Street Trading and Speculators Tax Act S. 3416 - A bill to enhance civil penalties under the Federal securities laws, and for other purposes. S. 3620 - A bill to amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes. H.R. 2483 - Whistleblower Improvement Act H. R. 2308 - SEC Regulatory Accountability Act H.R.2827 - To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes H.R. 4624 - Investment Adviser Oversight Act of 2012 H.R. 5050 - Social Networking Online Protection Act H.R. 757 - Equitable Treatment of Investors Act H.R. 4078 - Red Tape Reduction and Small Business Job Creation Act H.R. 6204 - Investment Adviser Examination Improvement Act of 2012

Client expense: $150,000 · Firm income: Not reported

Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC)

H.R. 4624 - Investment Adviser Oversight Act of 2012; regarding SROs. Issues and legislation related to taxes and carried interest.

Client expense: Not reported · Firm income: $60,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues pertaining to DFA Section 913 - fiduciary; issues pertaining to DFA Section 914 - SRO for investment advisors; issues pertaining to Department of Labor's proposed definition of fiduciary regulation; issues pertaining to Money Market Mutual Fund Regulation; HR 4624, Investment Adviser Oversight Act of 2012, all provisions.

Client expense: $1,500,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

HR 4050, HR 4624 - Discussed the impact of proposed changes to the provision of investment advice, fee disclosure, an index fund mandate, target date funds and plan fiduciaries' responsibilities with respect to brokerage windows in 401(k)s.

Client expense: $1,440,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Defense, Dept of (DOD), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 4624, INVESTMENT OVERSIGHT ACT OF 2012, OPPOSED LEGISLATION THAT WOULD DELEGATE GOVERNMENTAL AUTHORITY FOR OVERSIGHT OF INVESTMENT ADVISORS TO ONE OR MORE SELF-REGULATORY ORGANIZATION (SROs) H.R. 2483, WHISTLEBLOWER IMPROVEMENT ACT OF 2011, OPPOSEDREP. GRIMMS BILL THAT WOULD EVISCERATE THE SECS WHISTLEBLOWER PROGRAM (PASSED BY BY THE HOUSE FSCS SUBCOMMITTEE ON CAPITAL MARKETS 12/14/11) H.R. 6204, INVESTMENT ADVISER EXAMINATION IMPROVEMENT ACT OF 2012, OPPOSED EXPANDING SELF REGULATION OF INVESTMENT ADVISORS AND SUPPORTING OVERSIGHT BY THE SEC

Client expense: $10,000 · Firm income: Not reported

Government targets: Centers For Disease Control & Prevention (CDC), Defense, Dept of (DOD), Energy, Dept of, Executive Office of the President (EOP), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Natl Aeronautics & Space Administration (NASA), Natl Archives & Records Administration (NARA), Office of Government Ethics (OGE), Office of Management & Budget (OMB), SENATE

H.R. 4624 H.R. 6204 Investment Adviser Act of 1940 financial services legislation

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

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

Financial regulatory reform, including harmonization of regulation of broker-dealers and investment advisers. Regulation of securities industry. Implementation of H.R. 4173, Wall Street Reform & Consumer Protection Act of 2009. H.R. 4624, Investment Adviser Oversight Act of 2012.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1053 (stock quote decimalization); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1341 (A bill to provide a point of order against consideration of any measure that would increase the statutory limit on the public debt above $14.294 trillion unless that measure has been publicly available for a full 7 calendar days before consideration on the floor of the Senate); H.R. 1438 (Regulation Moratorium and Jobs Preservation Act of 2011); H.R. 1532 (A bill to amend the Budget Control Act of 2011 to require the joint select committee of Congress to report findings and propose legislation to restore the Nation's workforce to full employment over the period of fiscal years 2012 and 2013); H.R. 1535 (Personal Data Protection and Breach Accountability Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1544 (Small Company Capital Formation Act of 2011); H.R. 1550 (National Infrastructure Bank Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1838 (To repeal a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibiting any Federal bailout of swap dealers or participants); H.R. 1840 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2167 (Private Company Flexibility Act); H.R. 2308 (SEC Regulatory Accountability Act); H.R. 2313 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); H.R. 2413 (Secondary Market Facility for Residential Mortgages Act of 2011); H.R. 2483 (Whistleblower Improvement Act); H.R. 2517 (Shareholder Protection Act of 2011); H.R. 2586 (Swap Execution Facility Clarification Act); H.R. 2603 (Maintaining Agency Direction on Financial Fraud Act); H.R. 2612 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Bureau of Consumer Financial Protection to prohibit certain acts or practices); H.R. 2651 (To require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes); H.R. 2682 (Business Risk Mitigation and Price Stabilization Act); H.R. 2779 (To exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act); H.R. 2827 (To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes); H.R. 2855 (Emergency Jobs Now Act); H.R. 2930 (Entrepreneur Access to Capital Act); H.R. 2931 (Full Faith and Credit Act); H.R. 2940 (Access to Capital for Job Creators Act); H.R. 2964 (Unfunded Mandates Accountability Act); H.R. 3010 (Regulatory Accountability Act of 2011); H.R. 3078 (United States-Colombia Trade Promotion Agreement Implementation Act); H.R. 3079 (United States-Panama Trade Promotion Agreement Implementation Act); H.R. 3080 (United States-Korea Free Trade Agreement Implementation Act); H.R. 3084 (Mortgage Credit Availability Act of 2011); H.R. 3128 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to adjust the date on which consolidated assets are determined for purposes of exempting certain instruments of exempting smaller institutions from capital deductions); H.R. 3213 (Small Company Job Growth and Regulatory Relief Act of 2011); H.R. 3283 (Swap Jurisdiction Certainty Act); H.R. 3313 (Wall Street Trading and Speculators Tax Act); H.R. 3318 (Growing Jobs Through Capital Act of 2011); H.R. 3336 (Small Business Credit Availability Act); H.R. 3527 (Protecting Main Street End-Users From Excessive Regulation); H.R. 3530 (Freddie Mac Debt Reduction Act of 2011); H.R. 3606 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); H.R. 3635 (Investing in America's Small Businesses Act of 2011); H.R. 3644 (Private Mortgage Market Investment Act); H.R. 3655 (Small Business Access to Capital Act of 2011); H.R. 3665 (Wall Street Accountability through Sustainable Funding Act); H.R. 3733 (Affordable Mortgage for Homeowners Act of 2011); H.R. 3871 (Proprietary Information Protection Act of 2012); H.R. 4088 (Capital Expansion Act); H.R. 4235 (To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to repeal the indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities under such Acts.); H.R. 4624 (Investment Advisor Oversight Act of 2012); H.R. 6397 (Defending American Taxpayers from Abusive Government Takings Act of 2012); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 556 (A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1276 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); S. 1544 (Small Company Capital Formation Act of 2011); S. 1619 (The Currency Exchange Act); S. 1641 (A Bill to Implement the U.S.-Colombia Trade Promotion Agreement); S. 1642 (A Bill to Implement the U.S.-Korea Trade Promotion Agreement); S. 1643 (A Bill to Implement the U.S.-Panama Trade Promotion Agreement); S. 1650 (Dodd-Frank Improvement Act of 2011); S. 1787 (Wall Street Trading and Speculators Tax Act); S. 1791 (Democratizing Access to Capital Act of 2011); S. 1824 (Private Company Flexibility and Growth Act); S. 1831 (Access to Capital for Job Creators Act); S. 1835 (United States Covered Bond Act); S. 1907 (PCAOB Enforcement Transparency Act of 2011); S. 1933 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); S. 1941 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1962 (Startup Expansion and Investment Act); S. 1963 (Mortgage Finance Act of 2011); S. 1970 (CROWDFUND Act); S. 1975 (No More IMF Bailouts Act); S. 1997 (FHA Bailout Protection Act of 2011); S. 2033 (Closing the Derivatives Blended Rate Loophole Act); S. 2038 (STOCK Act); S. 2055 (A bill to amend the Federal Deposit Insurance Act with respect to the protection of certain information.); S. 2102 (Cybersecurity Information Sharing Act of 2012); S. 2105 (Cybersecurity Act of 2012); S. 3414 (A bill to enhance the security and resiliency of the cyber and communications infrastructure of the United States.); S. 3620 (A bill to amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes.); S. Amdt. 1818 to S. 1813 (offshore tax havens); SR-NASDAQ-2012-005 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Establish an Enhanced Display Distributor Fee); SR-NASDAQ-2012-042 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Re-organize NASDAQ's Rules Governing the Fees Applicable to NASDAQ's Depth-of-Book Market Data); SR-NASDAQ-2012-044 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify the Fees Applicable to Non-Display Usage of Certain NASDAQ Depth-of-Book Market Data); SR-NYSEArca-2011-96 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for the NYSE Arca Integrated Data Feed); FINRA Rule 4560 (short interest reporting); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Recordkeeping under Exchange Act Rule 17a-4(b)(4); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Asian Pacific Economic Council Privacy Issues; Bilateral Investment Treaties, India; Eminent domain; Russia Permanent Normal Trade Relations; Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; 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; Amendments to the 2012 Indian Finance Bill; Regulatory Capital Requirements; Single Platform/Government Sponsored Enterprises; SEC Regulation AB2; Trust Indenture Act; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; Tax-exemption for municipal bonds; Cross-border guidance; CFTC exemptive order on extraterritorial scope of Title VII; Tri-party repo; Computerized trading; Market Data Exchange Act Section 19 (and related rules).

Client expense: $1,530,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), 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)

Discussed financial regulatory reforms, including consumer and investor protections. (no bill) Pub.Law 111-203, Dodd-Frank Wall Street Reform and Consumer Protection Act - Discussed implementation of legislation. H.R.677/S.267, the Lifetime Income Disclosure Act-Supported the original co-sponsors of the House and Senate versions of the Lifetime Income Disclosure Act. This legislation would provide individuals with a better understanding of the lifetime value of their 401(k) plan assets by including in a yearly benefit statement a conversion of their total accrued benefits into a monthly dollar amount as if they had opted to receive a lifetime annuity. Discussed pending DOL and SEC regulations on the definition of a fiduciary. (no bill) H.R. 1125, Debt free America Act - Discussed legislation to repeal after 2021 the individual income tax, refundable and non-refundable personal tax credits, and the alternative minimum tax (AMT) on individuals and impose a 1% fee on bank transactions for debt reduction purposes. H.R.2940/S.1831, Parts of the JOBS Act Package - Lobbied and wrote a letter in opposition to pairing back Regulation D protections in stock offerings. H.R.2930/S.1970/S.1791, Parts of JOBS Act Package - Lobbied to restore consumer protections regarding "crowd funding" of initial public offerings (IPO's) that the bill curtailed. H.R. 3606, JOBS Act - Lobbied and wrote in support of the Reid/Levin/Landrieu amendment in the nature of a substitute, and in favor of the "crowd funding" amendment. Presented testimony and worked with Staff of the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity, on Federal Housing Administration oversight of reverse mortgages. AARP seeks continuation of, and improvement to the program. (no bill) Discussed implications of H.R. 4624, the "Investment Advisor Oversight Act." Responded to SEC request for Comment on Financial Literacy and Disclosure. H.R. 6020/S.3301, Financial Services and General Government Appropriations Act for FY 2013 - Lobbied to protect new Consumer Financial Protection Bureau from annual appropriations scrutiny and to protect funding levels for SEC, CFTC, FTC and IRS Taxpayer Services programs. H.R. 4078, the Red Tape Reduction and Small Business Job Creation Act - sent letter to all members of the House opposing the title incorporating H.R. 2308, the SEC Regulatory Accountability Act. S. 3468, the Independent Agency Regulatory Analysis Act - Lobbied for Senate Homeland Security and Governmental Affairs Committee hearings and input from agencies before a committee mark up. Participated in August 1 roundtable at the Department of Treasury to discuss implementation of the JOBS Act. Wrote to the Securities and Exchange Commission recommending that they not move to an interim final rule on general solicitation and advertising under the JOBS Act without first receiving comment from the public.

Client expense: $2,720,000 · Firm income: Not reported

Government targets: Administration on Aging, Agriculture, Dept of (USDA), Bureau of the Census, Centers For Medicare and Medicaid Services (CMS), Commodity Futures Trading Commission (CFTC), Equal Employment Opportunity Commission (EEOC), Executive Office of the President (EOP), Federal Communications Commission (FCC), Federal Energy Regulatory Commission (FERC), Federal Highway Administration (FHA), Federal Reserve System, Federal Trade Commission (FTC), Federal Transit Administration (FTA), Food & Drug Administration (FDA), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Health Resources & Services Administration (HRSA), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Medicare Payment Advisory Commission (MedPAC), Natl Highway Traffic Safety Administration (NHTSA), Office of Management & Budget (OMB), Office of Personnel Management (OPM), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Social Security Administration (SSA), Transportation, Dept of (DOT), Treasury, Dept of, White House Office

HR 4624, the Investment Adviser Oversight Act. HR 6204, the Investment Adviser Examination Improvement Act. HR 2308, the SEC Regulatory Accountability Act. S 1615, the Financial Regulatory Responsibility Act. HR 2434/HR 6020, the Financial Services and General Government Appropriations Act. HR 6317, the Terminating the Expansion of Too-Big-to-Fail Act. Regulatory proposals related to money market funds and to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including proposals related to harmonizing broker-dealers and investment advisers under similar standards of care; consumer protection; systemic risk; orderly liquidation authority; and the "Volcker Rule."

Client expense: $630,000 · Firm income: Not reported

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

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1341 (A bill to provide a point of order against consideration of any measure that would increase the statutory limit on the public debt above $14.294 trillion unless that measure has been publicly available for a full 7 calendar days before consideration on the floor of the Senate); H.R. 1438 (Regulation Moratorium and Jobs Preservation Act of 2011); H.R. 1532 (A bill to amend the Budget Control Act of 2011 to require the joint select committee of Congress to report findings and propose legislation to restore the Nation's workforce to full employment over the period of fiscal years 2012 and 2013); H.R. 1535 (Personal Data Protection and Breach Accountability Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1544 (Small Company Capital Formation Act of 2011); H.R. 1550 (National Infrastructure Bank Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1838 (To repeal a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibiting any Federal bailout of swap dealers or participants); H.R. 1840 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2167 (Private Company Flexibility Act); H.R. 2308 (SEC Regulatory Accountability Act); H.R. 2313 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); H.R. 2413 (Secondary Market Facility for Residential Mortgages Act of 2011); H.R. 2483 (Whistleblower Improvement Act); H.R. 2517 (Shareholder Protection Act of 2011); H.R. 2586 (Swap Execution Facility Clarification Act); H.R. 2603 (Maintaining Agency Direction on Financial Fraud Act); H.R. 2612 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Bureau of Consumer Financial Protection to prohibit certain acts or practices); H.R. 2651 (To require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes); H.R. 2682 (Business Risk Mitigation and Price Stabilization Act); H.R. 2779 (To exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act); H.R. 2827 (To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes); H.R. 2855 (Emergency Jobs Now Act); H.R. 2930 (Entrepreneur Access to Capital Act); H.R. 2931 (Full Faith and Credit Act); H.R. 2940 (Access to Capital for Job Creators Act); H.R. 2964 (Unfunded Mandates Accountability Act); H.R. 3010 (Regulatory Accountability Act of 2011); H.R. 3078 (United States-Colombia Trade Promotion Agreement Implementation Act); H.R. 3079 (United States-Panama Trade Promotion Agreement Implementation Act); H.R. 3080 (United States-Korea Free Trade Agreement Implementation Act); H.R. 3084 (Mortgage Credit Availability Act of 2011); H.R. 3128 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to adjust the date on which consolidated assets are determined for purposes of exempting certain instruments of exempting smaller institutions from capital deductions); H.R. 3213 (Small Company Job Growth and Regulatory Relief Act of 2011); H.R. 3283 (Swap Jurisdiction Certainty Act); H.R. 3313 (Wall Street Trading and Speculators Tax Act); H.R. 3318 (Growing Jobs Through Capital Act of 2011); H.R. 3336 (Small Business Credit Availability Act); H.R. 3527 (Protecting Main Street End-Users From Excessive Regulation); H.R. 3530 (Freddie Mac Debt Reduction Act of 2011); H.R. 3606 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); H.R. 3635 (Investing in America's Small Businesses Act of 2011); H.R. 3644 (Private Mortgage Market Investment Act); H.R. 3655 (Small Business Access to Capital Act of 2011); H.R. 3665 (Wall Street Accountability through Sustainable Funding Act); H.R. 3733 (Affordable Mortgage for Homeowners Act of 2011); H.R. 3871 (Proprietary Information Protection Act of 2012); H.R. 4088 (Capital Expansion Act); H.R. 4235 (To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to repeal the indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities under such Acts.); H.R. 4624 (Investment Advisor Oversight Act of 2012); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 556 (A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1276 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); S. 1544 (Small Company Capital Formation Act of 2011); S. 1619 (The Currency Exchange Act); S. 1641 (A Bill to Implement the U.S.-Colombia Trade Promotion Agreement); S. 1642 (A Bill to Implement the U.S.-Korea Trade Promotion Agreement); S. 1643 (A Bill to Implement the U.S.-Panama Trade Promotion Agreement); S. 1650 (Dodd-Frank Improvement Act of 2011); S. 1787 (Wall Street Trading and Speculators Tax Act); S. 1791 (Democratizing Access to Capital Act of 2011); S. 1824 (Private Company Flexibility and Growth Act); S. 1831 (Access to Capital for Job Creators Act); S. 1835 (United States Covered Bond Act); S. 1907 (PCAOB Enforcement Transparency Act of 2011); S. 1933 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); S. 1941 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1962 (Startup Expansion and Investment Act); S. 1963 (Mortgage Finance Act of 2011); S. 1970 (CROWDFUND Act); S. 1975 (No More IMF Bailouts Act); S. 1997 (FHA Bailout Protection Act of 2011); S. 2033 (Closing the Derivatives Blended Rate Loophole Act); S. 2038 (STOCK Act); S. 2055 (A bill to amend the Federal Deposit Insurance Act with respect to the protection of certain information.); S. Amdt. 1818 to S. 1813 (offshore tax havens); SR-NASDAQ-2012-005 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Establish an Enhanced Display Distributor Fee); SR-NASDAQ-2012-042 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Re-organize NASDAQ's Rules Governing the Fees Applicable to NASDAQ's Depth-of-Book Market Data); SR-NASDAQ-2012-044 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify the Fees Applicable to Non-Display Usage of Certain NASDAQ Depth-of-Book Market Data); SR-NYSEArca-2011-96 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for the NYSE Arca Integrated Data Feed); FINRA Rule 4560 (short interest reporting); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Recordkeeping under Exchange Act Rule 17a-4(b)(4); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Asian Pacific Economic Council Privacy Issues; Bilateral Investment Treaties, India; Eminent domain; Russia Permanent Normal Trade Relations; Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; 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; Amendments to the 2012 Indian Finance Bill; Regulatory Capital Requirements; Single Platform/Government Sponsored Enterprises; SEC Regulation AB2; Trust Indenture Act; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; Tax-exemption for municipal bonds.

Client expense: $1,380,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), 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)

Fiduciary Duty S. 1615 - Financial Regulatory Responsibility Act S. 1787 & H.R. 3313 - Wall Street Trading and Speculators Tax Act H.R. 2483 - Whistleblower Improvement Act H. R. 2308 - SEC Regulatory Accountability Act H.R.2827 - To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes H.R. 4624 - Investment Adviser Oversight Act of 2012 H.R. 5050 - Social Networking Online Protection Act H.R. 757 - Equitable Treatment of Investors Act H.R. 4078 - Red Tape Reduction and Small Business Job Creation Act H.R. 6204 - Investment Adviser Examination Improvement Act of 2012

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

Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC)

H.R. 3606, the JOBS Act; issues affecting state investor protection laws; and H.R. 4624, Investment Oversight Act of 2012.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Dodd-Frank implementation. Self-regulatory Organizations and the regulation of broker-dealers. The operation and oversight of the National Market System. Proposals to enhance the regulation of investment advisors. H.R. 4624

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Public Law 111-203, HR 4173 - Dodd-Frank Wall Street Reform and Consumer Protection Act implementation and regulatory reform. H.R.1610: To provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934. H.R. 1223 - To amend the Securities Exchange Act of 1934 to ensure mortgages held or securitized by Fannie Mae and Freddie Mac and asset-backed securities issued by such enterprises are treated similarly as other mortgages and asset-backed securities for purposes of the credit risk retention requirements under such Act. HR 2682: Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties is: (1) not a financial entity, and (2) is eligible for exception from clearing requirements for certain significant price discovery agreements, contracts, or transactions in a commodity exempt from regulation by the Commodity Futures Trading Commission (CFTC). Amends the Securities Exchange Act of 1934, with respect to registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization any security-based swap in which one of the counterparties is: (1) not a financial entity, and (2) is eligible for exception from clearing requirements. H.R. 3283: clarifies Dodd-Frank Act provisions to ensure the equal treatment of U.S. firms conducting transactions outside of the U.S. and foreign firms conducting similar activities. H.R. 4235: repeals the Dodd-Frank Act indemnification requirements for regulators to obtain data from SDRs H.R.4624: Investment Adviser Oversight Act of 2012 - Amends the Investment Advisers Act of 1940 to require investment advisers to register with a registered national investment adviser association, unless exempted according to specified criteria. S. 947 To provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934 S1615: Financial Regulatory Responsibility Act-Requires financial regulators to conduct consistent economic analysis on every new rule they propose, provide clear justification for the rules, and determine the economic impacts of proposed rulemakings, including their effects on growth and net job creation. HR940, S.1835: United States Covered Bond Act of 2011 - Directs the Secretary of the Treasury to establish a regulatory oversight program for specified recourse debt obligations of an eligible issuer (covered bonds) that provides for such bonds to be maintained in a manner consistent with safe and sound asset-liability management and other financial practices.

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

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)