Equitable Treatment of Investors Act

H.R.757, Equitable Treatment of Investors Act (All sections of full text) - Efforts in support of bill

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES

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)

Discussed HR 1987 Ponzi Scheme Investor Protection Act of 2011 that will amend the Securities Investor Protection Act of 1970 to provide insurance coverage for certain indirect investors caught in Ponzi schemes. Monitored and discussed HR 757 Equitable Treatment of Investors Act which would amend the Securities Investor Protection Act of 1970 to revise the definition of "net equity."

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES

Legislation affecting SIPC protection and reform (H.R. 5032, the Ponzi Scheme Investor Protection Act, and H.R. 757, Equitable Treatment of Investors Act), possible legislation to increase the SIPC fund, and possible Congressional oversight hearings on SIPC operations.

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

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).

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.

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)

Implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act as it relates 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.757, Equitable Treatment of Investors Act (All sections of full text) - Efforts in support of bill

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES

Discussed HR 1987 Ponzi Scheme Investor Protection Act of 2011 that will amend the Securities Investor Protection Act of 1970 to provide insurance coverage for certain indirect investors caught in Ponzi schemes. Monitored and discussed HR 757 Equitable Treatment of Investors Act which would amend the Securities Investor Protection Act of 1970 to revise the definition of "net equity."

Client expense: Not reported · Firm income: Not reported

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. 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.

H.R.757, Equitable Treatment of Investors Act (All sections of full text) - Efforts in support of bill

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES

Discussed HR 1987 Ponzi Scheme Investor Protection Act of 2011 that will amend the Securities Investor Protection Act of 1970 to provide insurance coverage for certain indirect investors caught in Ponzi schemes. Monitored and discussed HR 757 Equitable Treatment of Investors Act which would amend the Securities Investor Protection Act of 1970 to revise the definition of "net equity."

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES

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. 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.); 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); 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); 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; 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; 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.

H.R.757, Equitable Treatment of Investors Act (All sections of full text)

Client expense: Not reported · Firm income: Not reported

Legislation affecting SIPC protection and reform (H.R. 5032, the Ponzi Scheme Investor Protection Act, and H.R. 757, Equitable Treatment of Investors Act), possible legislation to increase the SIPC fund, and possible Congressional oversight hearings on SIPC operations.

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

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. 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. 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); 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); 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; 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; Regulatory Capital Requirements; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; 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.

H.R. 757 Equitable Treatment of Investors Act (All sections of full text)

Client expense: Not reported · Firm income: Not reported

Discussed HR 1987 Ponzi Scheme Investor Protection Act of 2011 that will amend the Securities Investor Protection Act of 1970 to provide insurance coverage for certain indirect investors caught in Ponzi schemes. Monitored and discussed HR 757 Equitable Treatment of Investors Act which would amend the Securities Investor Protection Act of 1970 to revise the definition of "net equity."

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES

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. 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. 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. 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. 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. 1619 (The Currency Exchange Act); 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); 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; Free trade agreements (Columbia; Panama; South Korea); 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; Regulatory Capital Requirements; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; 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.

Discussed HR 1987 Ponzi Scheme Investor Protection Act of 2011 that will amend the Securities Investor Protection Act of 1970 to provide insurance coverage for certain indirect investors caught in Ponzi schemes. Monitored and discussed HR 757 Equitable Treatment of Investors Act which would amend the Securities Investor Protection Act of 1970 to revise the definition of "net equity."

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES

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. 1539 (Asset-Backed Market Stabilization 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. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2517 (Shareholder Protection Act of 2011); 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. 694 (Fairness and Independence in Redistricting Act); 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); 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; Bilateral Investment Treaties, India; Asian Pacific Economic Council Privacy Issues; Free trade agreements (Columbia; Panama; South Korea); 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; Regulatory Capital Requirements; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking.

Discussed HR 1987 Ponzi Scheme Investor Protection Act of 2011 that will amend the Securities Investor Protection Act of 1970 to provide insurance coverage for certain indirect investors caught in Ponzi schemes. Monitored and discussed HR 757 Equitable Treatment of Investors Act which would amend the Securities Investor Protection Act of 1970 to revise the definition of "net equity."

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES

Monitoring and discussing legislation surrounding the Bernie Madoff Ponzi Scheme as it pertains to indirect investors. Working to amend HR 757, Equitable Treatment of Investors Act to provide relief for indirect investors.

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES