Swaps Regulatory Improvement Act

H.R. 1 (Tax Reform Act of 2014); H.R. 25 (Fair Tax Act of 2013); H.R. 30 (Small Business Investment Enhancement and Tax Relief Act); H.R. 122 (Creating Jobs From Innovative Small Businesses Act of 2013);H.R. 290 (Full Faith and Credit Act of 2013); H.R. 505 (Balancing Act); H.R. 613 (Systemic Risk Mitigation Act); H.R. 624 (Cyber Intelligence Sharing and Protection Act); H.R. 634 (Business Risk Mitigation and Price Stabilization Act); H.R. 677 (Inter-Affiliate Swap Classification Act); H.R. 694 (Corporate Tax Fairness Act); H.R. 701 (To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action); H.R. 719 (Capital Access for Small Businesses and Jobs Act); H.R. 742 (Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013); H.R. 756 (Cybersecurity Enhancement Act of 2013); H.R. 797 (Municipal Advisor Oversight Improvement Act of 2013); H.R. 807 (Full Faith and Credit Act); H.R. 815 (To amend the Internal Revenue Code of 1986 to make certain dividends and distributions paid to individuals from certain small businesses exempt from tax to the extent of the increased wages of the small business); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 889 (Unfunded Mandates Information and Transparency Act of 2013); H.R. 935 (Reducing Regulatory Burdens Act of 2013); H.R. 947 (Small Business Accounting and Tax Simplification Act); H.R. 992 (Swaps Regulatory Improvement Act); H.R. 1003 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1101 (Homeowners and Taxpayers Protection Act of 2013); H.R. 1105 (Small Business Capital Access and Job Preservation Act); H.R. 1062 (SEC Regulatory Accountability Act); H.R. 1064 (National Association of Registered Agents and Brokers Reform Act of 2013); H.R. 1115 (To amend the Securities Exchange Act of 1934 to prohibit any national securities exchange from effecting any transaction in a security issued by a corporation unless the corporation's registration with the exchange includes a certification that the corporation currently is in compliance with the provisions of the Federal Election Campaign Act of 1971 governing contributions and expenditures by corporations which were in effect with respect to elections held during 2008); H.R. 1135 (Burdensome Data Collection Relief Act); H.R. 1155 (National Association of Registered Agents and Brokers Reform Act of 2013); H.R. 1221 (Basel III Capital Impact Study Act); H.R. 1256 (Swap Jurisdiction Certainty Act); H.R.1335 (Short Sale Transparency Act of 2013); H.R.1341 (Financial Competitive Act of 2013)(Credit Valuation Adjustment (CVA)); H.R. 1627 (Investment Adviser Examination Improvement Act of 2013); H.R. 1844 (Arbitration Fairness Act of 2013); H.R. 2374 (Retail Investor Protection Act); H.R. 2998 (Investor Choice Act of 2013); H.R. 3482 (Restoring Main Street Investor Protection and Confidence Act); H.R. 3696 (National Cybersecurity and Critical Infrastructure Protection Act of 2013); H.R. 4167 (Restoring Proven Financing for American Employers Act); H.CON.RES.25 (Establishing the budget for the United States Government for fiscal year 2014 and setting forth appropriate budgetary levels for fiscal years 2015 through 2023); S. 1 (Immigration Reform that Works for America's Future Act); S. 8 (End Wasteful Tax Loopholes Act); S. 21 (Cybersecurity and American Cyber Competitiveness Act of 2013); S. 122 (Fair Tax Act of 2013); S. 169 (I-Squared Act of 2013)(Immigration reform); S. 173 (Simplified, Manageable, And Responsible Tax Act); S. 249 (Responsible Homeowner Refinancing Act of 2013);S. 277 (Job Preservation and Economic Certainty Act of 2013); S. 278 (Job Preservation and Sequester Replacement Act of 2013); S. 321 (Paying a Fair Share Act of 2013); S. 387 (American Infrastructure Investment Fund Act); S. 399 (American Job Protection Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 450 (Financial Regulatory Responsibility Act of 2013); S. 451 (Dodd-Frank Wall Street Reform and Consumer Protection Technical Corrections Act of 2013); S. 474 (Swaps Regulatory Improvement Act); S. 534 (National Association of Registered Agents and Brokers Reform Act of 2013); S. 798 (TBTF Act); S. 1725 (Restoring Main Street Investor Protection and Confidence Act); S. 1999 (SCRA Rights Protection Act of 2014); S. 2588 (Cybersecurity Information Sharing Act of 2014); S.AMDT.2006 (Amends H.CON.RES.25); FINRA Regulatory Notice 2013-002; Market data rule proposals (SR-NASDAQ-2012-042;SR-NASDAQ-2012-044;SR-NASDAQ-2012-005); SR-NYSEArca-2011-96; Market data (Exchange Act Section 19 and related rules); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; 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; Title I and Title II); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; 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; 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; Basel Securitization Framework; G-20; Amendments to the 2012 Indian Finance Bill; TransAtlantic Trade and Investment Partnership (TTIP); Trade Promotion Authority (TPA); India Financial Sector Reform; Regulatory Capital Requirements; Single Platform/Government Sponsored Enterprises; 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; 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; Commodity Pools and Securitization; Tick-size pilot program; EU Capital and Resolution; National Institute of Standards and Technology (NIST) Framework; Incentives for the adoption of the NIST Framework; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Fee pilot program for NASDAQ last sale (File no. SR-NASDAQ-2013-126); Office of Financial Research study (Asset Management and Financial Stability); Legal Entity Identifier; Financial Stability Board; OCC, FDIC, and Federal Reserve rule proposal on Basel III Liquidity Coverage Ratio; FSOC consideration of systemically important financial institutions (SIFIs); Prudential regulators; NASDAQ and NYSE market data fee proposals; SEC draft strategic plan; Leverage capital requirements; Cybersecurity issues (general); Release No. 34-71958, SBSD Recordkeeping; Bankruptcy code reform; Municipalities Continuing Disclosure Cooperation Initiative; Recordkeeping Requirements; Rules 17a-3, 17a-4 (Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority); Consumer Privacy Notices - Docket No. CFPB-2014-0010; Regulatory Notice 14019, BrokerCheck Hyperlink; Preserving America's Transit and Highways ("PATH") Act; Regulation AB II (asset backed securities - Securities and Exchange Commission, Consumer Financial Protection Bureau); CFTC proposed rule on margin requirements for uncleared swaps; Prudential Regulator's proposed rule on margin requirements for uncleared swaps; Securities and Exchange Commission proposed rule on margin requirements for uncleared swaps.

Client expense: $1,860,000 · 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 the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 83 (Consolidated and Further Continuing Appropriations Act, 2015); H.R. 634 (Business Risk Mitigation and Price Stabilization Act); H.R. 677 (Inter-Affiliate Swap Classification Act); H.R. 742 (Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013);H.R. 992 (Swaps Regulatory Improvement Act); H.R. 1003 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1038 (Public Power Risk Management Act of 2013); H.R. 1256 (Swaps Jurisdiction Certainty Act); H.R. 2146 (Terrorism Risk Insurance Program Reauthorization Act of 2013); H.R. 4167 (Restoring Proven Financing for American Employers Act); H.R. 4413 (The Customer Protection and End-User Relief Act); H.R. 5016 (Financial Services and General Government Appropriations Act, 2015); H.R. 5405 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 5461 (To clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to improve upon the definitions provided for points and fees in connection with a mortgage transaction, and for other purposes); S. 474 (Swaps Regulatory Improvement Act); S. 2244 (Terrorism Risk Insurance Program Reauthorization Act of 2014); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity pool operators amendments; Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); Cross-border Guidance and Exemptive Order; Banks in physical commodity markets; Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Jumpstart Our Business Startups (JOBS) Act implementation; IHS Global report on the Role of Banks in Physical Commodities; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; The Volcker Rule; Block trades; Insurance-linked securities; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; CFTC nominees; Commodities (general); CFTC no action relief for packaged trades; Security based swaps rules under Title VII; Dodd-Frank Title VII; Derivatives regulation (general); Federal Reserve commodities advance notice of proposed rulemaking (ANPR) and hearing.

Client expense: $1,860,000 · 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 the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 4060: Systemic Risk Designation Improvement Act of 2014: A bill to amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to specify when bank holding companies may be subject to certain enhanced supervision; Provisions related to bank regulation. S. 1720: Patent Transparency and Improvements Act of 2013: A bill to promote transparency in patent ownership and make other improvements to the patent system and for other purposes; Provisions related to patent reform. S. 1897: Personal Data Privacy and Security Act of 2014: A bill to prevent and mitigate identity theft, to ensure privacy, to provide notice of security breaches, and to enhance criminal penalties, law enforcement assistance, and other protections against security breaches, fraudulent access, and uses of personally identifiable information; Provisions related to cyber security/data breach. S. 1927: Data Security Act of 2014: A bill to protect information relating to consumers, to require notice of security breaches, and for other purposes; Provisions related to cyber security/data breach. S. 1976: Data Security and Breach Notification Act of 2014: A bill to protect consumers by requiring reasonable security policies and procedures to protect data containing personal information, and to provide for nationwide notice in the event of a breach of security; Provisions related to cyber security/data breach. H.R. 3036: A bill to amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to specify when bank holding companies may be subject to certain enhanced supervision; Provisions related to SIFI Designation. S. 21: Cybersecurity and American Cyber Competitiveness Act of 2013: A bill to secure the United States against cyber-attack, to improve communication and collaboration between the private sector and the Federal Government, to enhance American competitiveness and create jobs in the information technology industry, and to protect the identities and sensitive information of American citizens and businesses; Provisions related to cyber security. S. 474: Swaps Regulatory Improvement Act: A bill to amend provisions in section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to Federal assistance for swaps entities; Provisions related to derivatives regulation. S. 1353: Cybersecurity Act of 2013: To provide for an ongoing, voluntary public-private partnership to improve cybersecurity and to strengthen cybersecurity research and development, workforce development and education, and public awareness and preparedness, and for other purposes; Provisions related to cyber security. S. 1612: Patent Litigation Integrity Act of 2013: To deter abusive patent litigation by targeting the economic incentives that fuel frivolous lawsuits; Provisions related to patent reform. H.R. 992: Swaps Regulatory Improvement Act: A bill to amend provisions in section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to Federal assistance for swaps entities; Provisions related to derivatives regulation. H.R. 4986: End Operation Choke Point Act of 2014: A bill to amend certain banking statutes in response to Operation Choke Point; Provisions related to payments regulation. H.R. 3309: To amend Title 35, United States Code, and the Leahy-Smith America Invents Act to make improvements and technical corrections, and for other purposes; Provisions related to patent reform. H.R. 4532: To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to specify when bank holding companies may be subject to certain enhanced supervision; Provisions related to bank regulation. H.R. 5421: A bill to amend Title 11 of the United States Code in order to facilitate the resolution of an insolvent financial institution in bankruptcy; Provisions related to bank resolution. H.R. 83: Making consolidated appropriations for the fiscal year ending September 30, 2015; Provisions related to derivatives regulation. H.R. 3928: A bill to improve the accountability and transparency of the Board of Governors of the Federal Reserve System; Provisions related to bank regulation. H.R. 5758: A bill to provide requirements for the appropriate Federal banking agencies when requesting or ordering a depository institution to terminate a specific customer account, to provide for additional requirements related to subpoenas issued under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989; Provisions related to bank regulation. S. 2049: A bill to curb unfair and deceptive practices during assertion of patents; Provisions related to patent reform. S. 2588: An original bill to improve cybersecurity in the United States through enhanced sharing of information about cybersecurity threats, and for other purposes; Provisions related to cybersecurity. S. 1995: A bill to protect consumers by mitigating the vulnerability of personally identifiable information to theft through a security breach, providing notice and remedies to consumers in the wake of such a breach, holding companies accountable for preventable breaches, facilitating the sharing of post-breach technical information between companies, and enhancing criminal and civil penalties and other protections against the unauthorized collection or use of personally identifiable information; Provisions related to cybersecurity/data breach. - Issues related to the implementation of Title I of Dodd-Frank; Provisions related to bank resolution. - Issues related to the implementation of Title II of Dodd-Frank; Provisions related to bank resolution.

Client expense: $370,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Legislation affecting the regulation of financial services. General background on legislation and regulation pertaining to derivatives, particularly cross border regulation. Implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203): Title VII (Derivatives). H.R. 634, the Business Risk Mitigation and Price Stabilization Act of 2013. H.R. 677, the Inter-Affiliate Swap Clarification Act. H.R. 742, the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013.H.R. 992, the Swaps Regulatory Improvement Act. H.R. 1062, the SEC Regulatory Accountability Act. H.R. 1256, the Swap Jurisdiction Certainty Act. H.R. 1341, the Financial Competitive Act of 2013. Reauthorization of the Commodities Futures Trading Commission. H.R. 83, Consolidated and Further Continuing Appropriations Act, 2015, specifically the 'swap pushout' provision.

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

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE

Legislation affecting the regulation of financial services. General background on legislation and regulation pertaining to derivatives, particularly cross border regulation. Implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203): Title VII (Derivatives). H.R. 634, the Business Risk Mitigation and Price Stabilization Act of 2013. H.R. 677, the Inter-Affiliate Swap Clarification Act. H.R. 742, the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013.H.R. 992, the Swaps Regulatory Improvement Act. H.R. 1062, the SEC Regulatory Accountability Act. H.R. 1256, the Swap Jurisdiction Certainty Act. H.R. 1341, the Financial Competitive Act of 2013. Reauthorization of the Commodities Futures Trading Commission. H.R. 83, Consolidated and Further Continuing Appropriations Act, 2015, specifically the 'swap pushout' provision.

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

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE

Public Law 111-203, HR 4173 - Dodd-Frank Wall Street Reform and Consumer Protection Act implementation and regulatory reform. HR 634: Business Risk mitigation and Price-Stabilization Act of 2013 - 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 marginrequirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an 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); or (2) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. HR 992: To amend provisions in Section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection At relating to Federal assistance for swap entities. HR 1003: Amends the Commodity Exchange Act to revise the requirement that the Commodity Futures Trading Commission (CFTC), before promulgating a regulation or issuing an order, consider the costs and benefits of the action. Requires the CFTC, through the Office of the Chief Economist, to: (1) assess the costs and benefits, both qualitative and quantitative, of an intended regulation; and (2) propose or adopt a regulation only on a reasoned determination that the benefits justify the costs. HR 1256: Swap Jurisdiction Certainty Act - Directs the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to issue rules jointly governing the application of swaps requirements of the Securities Exchange Act of 1934 and the Commodity Exchange Act, respectively, in connection with swaps and security-based swaps transacted between U.S. persons and non-U.S. persons. HR 2374: Retail Investor Protection Act - To amend the Securities Exchange Act of 1934 to provide protections for retail customers, and for other purposes.

Client expense: $430,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR)

S.2588, Cyber Information Sharing Act of 2014, issues related to cybersecurity; HR614, American Discoveries and American Jobs Commission Act, issues related to cybersecurity; S1353, Cybersecurity Enhancement Act of 2014, issues related to cybersecurity; S2521, Federal Information Security Modernization Act, issues related to cybersecurity; S2519, National Cybersecurity Protection Act of 2014, issues related to cybersecurity; HR992, S474, Swaps Regulatory Improvement Act, issues related to derivatives; HR5016, Financial Services and General Government Appropriations Act, issues related to derivatives; HR5421, Financial Institution Bankruptcy Act of 2014, issues regarding Chapter 14 bankruptcy; HR3711, S1282, 21st Century Glass-Steagall Act of 2013, issues related to Glass-Steagall; HR624, Cyber Intelligence Sharing and Protection Act, issues regarding cyber security; S798, Terminating Bailouts for Taxpayer Fairness Act of 2013, issues regarding bank capital; General issues regarding data security; General issues related to privacy; General issues related to interchange; General issues related to Dodd-Frank Act.

Client expense: $1,200,000 · Firm income: Not reported

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

S.474, the Swaps Regulatory Improvement Act (all provisions) S. 710, the Municipal Advisors Relief Act of 2013 (all provisions to exempt commercial banks and savings and loan associations from the Dodd-Frank Act provisions requiring regulation of municipal advisors) S. 731, the Basel III CASE Act (all provisions) S. 737, the Basel III Impact Study Act (all provisions) S. 798, the Terminating Bailouts for Taxpayer Fairness Act of 2013 (all provisions) H.R. 634, Business Risk Mitigation and Price Stabilization Act of 2013 (provisions to clarify that end users would not be subject to margin requirements for un-cleared swaps) H.R. 677, the Inter-Affiliate Swap Clarification Act (all provisions H.R. 742, the Swap Data Repository and Clearinghouse Indemnification Correction Act H.R.797 , the Municipal Advisor Oversight Improvement Act of 2013 H.R. 992, the Swaps Regulatory Improvement Act (all provisions) H.R. 1003, to provide for a full assessment of the costs and benefits of Commodity Futures Trading Commission (CFTC) regulations H.R. 1062, the SEC Regulatory Accountability Act (all provisions to require the SEC to do a thorough cost-benefit analysis before proposing a new regulation) H.R. 1256, the Swap Jurisdiction Certainty Act Draft Senate legislation to exempt commercial banks from municipal advisor regulation Discussion Draft of the Swap Jurisdiction Certainty Act (all provisions) Draft legislation that would require the Treasury Department to determine which commercial banks, investment banks, hedge funds, and insurance companies are too-big-to-fail, and to break up those institutions within one year. Clarity in Regulations Discussion Draft S. 2976: Derivatives End-Users Clarification Act

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 605, Insurance Consumer Protection and Solvency Act of 2013 H.R. 634, Business Risk Mitigation and Price Stabilization Act of 2013 H.R. 677, Inter-Affiliate Swap Clarification Act H.R. 742, Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013 H.R. 801, Holding Company Registration Threshold Equalization Act of 2014 H.R. 992 / S. 474, Swaps Regulatory Improvement Act H.R. 1038, Public Power Risk Management Act of 2013 H.R. 1062, SEC Regulatory Accountability Act H.R. 1105, Small Business Capital Access and Job Preservation Act H.R. 1106 / S. 550, Small Business Investment Company Modernization Act of 2013 H.R. 1135, Burdensome Data Collection Relief Act H.R. 1221 / S. 737, Basel III Capital Impact Study Act H.R. 1256, Swap Jurisdiction Certainty Act H.R. 1341, Financial Competitive Act of 2013 H.R. 1564 / S. 1526, Audit Integrity and Jobs Protection Act H.R. 1800, Small Business Credit Availability Act H.R. 2122 / S. 1029, Regulatory Accountability Act of 2013 H.R. 2274, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2013 H.R. 2374, Retail Investor Protection Act H.R. 2446, Responsible Consumer Financial Protection Regulations Act of 2013 H.R. 2546 / S. 1257, Protect American Investments Act of 2013 H.R. 2733, Defending American Taxpayers From Abusive Government Takings Act of 2013 H.R. 3193, Consumer Financial Protection Safety and Soundness Improvement Act of 2013 H.R. 3211, Mortgage Choice Act of 2013 H.R. 3331, Incorporation Transparency and Law Enforcement Assistance Act H.R. 3448, Small Cap Liquidity Reform Act of 2014 H.R. 3519, Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013 H.R. 3623, Improving Access to Capital for Emerging Growth Companies Act H.R. 3701, U.S. Financial Services Global Viability Act H.R. 3928, Federal Reserve Accountability and Transparency Act of 2014 H.R. 4164, Small Company Disclosure Simplification Act H.R. 4167, Restoring Proven Financing for American Employers Act H.R. 4200, SBIC Advisers Relief Act of 2014 H.R. 4387, FSOC Transparency and Accountability Act H.R. 4413, Customer Protection and End User Relief Act H.R. 4466, Financial Regulatory Clarity Act of 2014 H.R. 4510 / S. 2270, Insurance Capital Standards Clarification Act of 2014 H.R. 4554, Restricted Securities Relief Act of 2014 H.R. 4565, Startup Capital Modernization Act of 2014 H.R. 4568, Small Business Freedom to Grow Act of 2014 H.R. 4569, Disclosure Modernization and Simplification Act of 2014 H.R. 4570, Private Placement Improvement Act of 2014 H.R. 4571, To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans H.R. 4662, Bureau Advisory Opinion Act H.R. 4684, Bureau Guidance Transparency Act H.R. 4697, Small-Cap Access to Capital Act H.R. 4804, Bureau Examination Fairness Act H.R. 5402, Standard Merger and Acquisition Reviews Through Equal Rules Act of 2014 H.R. 5405, Promoting Job Creation and Reducing Small Business Burdens Act H.R. 5461, To clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to improve upon the definitions provided for points and fees in connection with a mortgage transaction, and for other purposes H.R. 5471, To amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to specify how clearing requirements apply to certain affiliate transactions, and for other purposes S. 888, A bill to provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934 S. 1217, Housing Finance Reform and Taxpayer Protection Act of 2013 S. 1369, A bill to provide additional flexibility to the Board of Governors of the Federal Reserve System to establish capital standards that are properly tailored to the unique characteristics of the business of insurance, and for other purposes S. 1898, Truth in Settlements Act of 2014 S. 2244, Terrorism Risk Insurance Program Reauthorization Act of 2014 S. 2698, Regulatory Easement for Lending Institutions that Enable a Vibrant Economy Act of 2014 Draft legislation on conflict minerals disclosures Various issues relating to Private Securities Litigation Reform Act of 1995 (P.L. 104-67); implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203), including proposals to alter the derivatives provisions, 1502 relating to conflict minerals and resulting rule from the Securities Exchange Commission, and Volcker Rule - including trust preferred bonds and collateralized loan obligations; Moving Ahead for Progress in the 21st Century Act (MAP-21) (P.L. 112-141), including Sec. 40312, issues related to pension fund stabilization; implementation of the Jumpstart our Business Startups Act (P.L. 112-106); Securities Act of 1933 (P.L. 73-22), including amendments to Rule 701; Consumer Financial Protection Bureau reform; Securities and Exchange Commission reform; Financial Stability Oversight Council (FSOC) reform; Department of Labor definition of fiduciary duty rules; international capital standards for non-banks; systemic risk regulations for non-bank financial companies; financial reporting policies reform; proposed regulation of money market mutual funds; proposed risk retention rules and the collateralized loan obligations market; Commodity Futures Trading Commission's derivatives regulations; Basel III capital standards; reconciliation of merchant card and third-party payments; political spending disclosures; Federal Reserve Boards review of 2003 determination that certain commodity activities are complementary to financial activities and thus permissible for bank holding companies; reducing barriers to capital formation; capital requirements and systemically important financial institutions; oversight of proxy advisory firms; credit risk retention rules

Client expense: $21,250,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Consumer Product Safety Commission (CPSC), Council on Environmental Quality (CEQ), Defense, Dept of (DOD), Education, Dept of, Energy, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Executive Office of the President (EOP), Federal Bureau of Investigation (FBI), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), General Services Administration (GSA), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Economic Council (NEC), Natl Institute of Standards & Technology (NIST), Natl Labor Relations Board (NLRB), Natl Security Council (NSC), Occupational Safety & Health Administration (OSHA), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), Patent & Trademark Office (PTO), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), State, Dept of (DOS), Transportation Security Administration (TSA), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Copyright Office, U.S. Customs & Border Protection, U.S. Fish & Wildlife Service (USFWS), U.S. Forest Service, U.S. Trade Representative (USTR), White House Office

H.R. 677, Inter-Affiliate Swap Clarification Act H.R. 992 / S. 474, Swaps Regulatory Improvement Act H.R. 1003, To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders H.R. 1341, The Financial Competitive Act of 2013 H.R. 3191, Expanding Opportunities to Underserved Businesses Act H.R. 4413, Customer Protection and End User Relief Act S. 469, A bill to assist the Secretary of Housing and Urban Development in stabilizing the Home Equity Conversion Mortgage program S. 888, To provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934 Various issues relating to the implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203), all provisions and amendments relating to derivatives, corporate governance, and the Volcker Rule; the Financial Stability Oversight Council

Client expense: $21,250,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Consumer Product Safety Commission (CPSC), Council on Environmental Quality (CEQ), Defense, Dept of (DOD), Education, Dept of, Energy, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Executive Office of the President (EOP), Federal Bureau of Investigation (FBI), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), General Services Administration (GSA), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Economic Council (NEC), Natl Institute of Standards & Technology (NIST), Natl Labor Relations Board (NLRB), Natl Security Council (NSC), Occupational Safety & Health Administration (OSHA), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), Patent & Trademark Office (PTO), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), State, Dept of (DOS), Transportation Security Administration (TSA), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Copyright Office, U.S. Customs & Border Protection, U.S. Fish & Wildlife Service (USFWS), U.S. Forest Service, U.S. Trade Representative (USTR), White House Office

Rulemaking on Dodd-Frank (derivatives and foreign exchange); H.R. 742, the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013; H.R. 677, the Inter-Affiliate Swap Clarification Act; H.R. 992, the Swaps Regulatory Improvement Act; H.R. 1256, the Swap Jurisdiction Certainty Act.

Client expense: $1,190,818 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Council of Economic Advisers (CEA), Defense, Dept of (DOD), Education, Dept of, Federal Communications Commission (FCC), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Natl Economic Council (NEC), Natl Science Foundation (NSF), Office of Science & Technology Policy (OSTP), Patent & Trademark Office (PTO), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office

S. 474, the Swaps Regulatory Improvement Act (all provisions) S. 635, the Privacy Notice Modernization Act of 2013 (all provisions) S. 710, the Municipal Advisors Relief Act of 2013 (all provisions to exempt commercial banks and savings and loan associations from the Dodd-Frank Act provisions requiring regulation of municipal advisors) S. 731, the Basel III CASE Act (all provisions) S. 737, the Basel III Impact Study Act (all provisions) S. 798, the Terminating Bailouts for Taxpayer Fairness Act of 2013 (all provisions) S. 872, the Holding Company Registration Threshold Equalization Act of 2013 (provisions to extend to savings and loan holding companies the new SEC shareholder registration and deregistration thresholds under the JOBS Act) S. 968, the Small Business Lending Enhancement Act of 2013 (all provisions to increase credit union business lending limits) H.R. 613, the Systemic Risk Mitigation Act (all provisions) H.R. 634, Business Risk Mitigation and Price Stabilization Act of 2013 (provisions to clarify that end users would not be subject to margin requirements for un-cleared swaps) H.R. 677, the Inter-Affiliate Swap Clarification Act (all provisions H.R. 701, to amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action H.R. 742, the Swap Data Repository and Clearinghouse Indemnification Correction Act H.R. 749, the Eliminate Privacy Notice Confusion Act (all provisions) H.R.797, the Municipal Advisor Oversight Improvement Act of 2013 H.R. 801, the Holding Company Registration Threshold Equalization Act of 2013 (all provisions) H.R. 992, the Swaps Regulatory Improvement Act (all provisions) H.R. 1003, to provide for a full assessment of the costs and benefits of Commodity Futures Trading Commission (CFTC) regulations H.R. 1062, the SEC Regulatory Accountability Act (all provisions to require the SEC to do a thorough cost-benefit analysis before proposing a new regulation) H.R. 1256, the Swap Jurisdiction Certainty Act H.R. 1341, the Financial Competitive Act of 2013 (all provisions) H.R. 1553, the Financial Institutions Examination Fairness and Reform Act (all provisions) H.R. 1750, the Community Lending Enhancement and Regulatory Relief Act H.R. 2672, the CFPB Rural Designation Petition and Correction Act H.R. 3584, to amend the Federal Home Loan Bank Act to authorize privately insured credit unions to become members of a Federal home loan bank, and for other purposes H.R. 3329, to enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes. Draft Senate legislation to exempt commercial banks from municipal advisor regulation Discussion Draft of the Swap Jurisdiction Certainty Act (all provisions) Draft legislation that would require the Treasury Department to determine which commercial banks, investment banks, hedge funds, and insurance companies are too-big-to-fail, and to break up those institutions within one year. Clarity in Regulations Discussion Draft H. Res. 496, Recognizing the importance of savings to financial security. S. 1927, Data Security Act of 2014 S. 2114, Bond Transparency Act of 2014 H.R. 4252, Mutual Bank Choice and Continuity Act of 2014 H.R. 4569, Disclosure Modernization and Simplification Act of 2014 H.R. 4466, Financial Regulatory Clarity Act of 2014 S. 2698, Regulatory Easement for Lending Institutions that Enable a Vibrant Economy Act of 2014 H.R. 5758, Financial Institution Customer Protection Act of 2014 H.R. 5786, Small Financial Institutions Regulatory Relief Act of 2014 S. 2976, Derivatives End-Users Clarification Act

Client expense: $2,418,000 · Firm income: Not reported

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

H.R. 1450 Too-Big-to-Fail, Too-Big-to Exist Act; H.R. 1553 to improve the examination of Depository Institutions; S 685 Too-Big-to-Exist Act; S 727 A bill to improve the examination of depository institutions; S 731 and S 737 Basel III Study Bills; H.R. 508 Terrorism Risk Insurance Act of 202 Re-authorization Act of 2013; H.R. 613 Systemic Risk Mitigation Act; H.R. 677 Inter-affiliate Swap Clarification Act; H.R. 688 Credit Union Small Business Jobs Creation Act; H.R. 749 Eliminate privacy Notice Confusion Act; H.R. 992 Swaps Regulatory Improvement Act; H.R. 1221 Basel II Capital Impact Study Act; H.R. 1256 Swap Jurisdiction Certainty Act of 2013; S 474 Swaps Regulatory Improvement Act; S 635 Privacy Notice Modernization Act of 2013; S. 798-TBTF Act; H.R. 450 Bureau of Consumer Financial Protection Accountability Act; S. 1217 Housing Finance Reform and Taxpayer Protection Act of 2013; H.R. 2410 Agriculture Rural Development, Food and Drug Administration and Related Agencies Appropriations Act, 2014; H.R. 3211, the "Mortgage Choice Act of 2013"; H.R. 3036 "To Amend and the Dodd-Frank Wall Street Reform and Consumer Protection Act to specify when bank holding companies may be subject to certain enhanced supervision and for other purposes"; Homeowner Flood Insurance Affordability Act of 2014; H.R. 4060 Systemic Risk Designation Improvement Act of 2014; TRIA Re-authorized Bills, H.R. 4871 and S. 2244; "export-Import bank Re-authorization"; H.R. 2673, the Portfolio Lending and Mortgage Access Act; H.R. 5016, Financial Services and General Government Appropriations Act of 2015.

Client expense: $80,000 · Firm income: Not reported

Government targets: Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

H.R. 677 - Inter-Affiliate Swap Clarification Act - all aspects of the bill H.R. 634 - Business Risk Mitigation and Price Stabilization Act of 2013- all aspects of the bill H.R. 742 - Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013- all aspects of the billH.R. 1003 - a bill to improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders- all aspects of the bill H.R. 992 - Swaps Regulatory Improvement Act- all aspects of the bill H.R. 1038 - Public Power Risk Management Act of 2013- all aspects of the bill S. 888, a bill to provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities H.R. 4113 - Customer Protection and End User Relief Act - all aspects of the bill Exchange Act of 1934 - all aspects of the bill Draft Bill - Swap Jurisdiction Certainty Act- all aspects of the bill General discussion of tax reform legislation that would impose mark-to-market accounting on derivatives and commodity contracts General discussion of legislation regarding the scope of physical energy market transactions subject to CFTC regulation Rules regarding swap data recordkeeping and responsibility Rules regarding trade options for transactions involving embedded volumetric optimality. HR 4413 The Customer Protection and End User Relief Act all aspects of the bill Legislation to reauthorize the Commodities Futures Trading Commission

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

Government targets: Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Energy, Dept of, Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), SENATE, State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, White House Office

Issues pertaining to the Crop Insurance Standard Reinsurance Agreement and issues affecting the crop insurance industry in the 2014 Farm Bill, H.R. 2642, the Agricultural Act of 2014, and agricultural appropriations bills; H.R. 4413, the Customer Protection and End-User Relief Act of 2014, all provisions; H.R. 634, Business Risk Mitigation & Price Stabilization Act of 2013, all provisions; issues pertaining to DFA, Title VII derivatives regulation; H.R. 992, Swaps Regulatory Improvement Act of 2013, all provisions; H.R. 677, Inter-Affiliate Swap Clarification Act of 2013, all provisions; H.R. 1256, Swap Jurisdiction Certainty Act, all provisions; H.R. 83, the Consolidated and Further Continuing Appropriations Act, 2015.

Client expense: $1,650,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), HOUSE OF REPRESENTATIVES, Risk Management Agency, SENATE, Treasury, Dept of

HR 4060, Systemic Risk Designation Improvement Act of 2014 (all provisions). HR 992, Swaps Regulatory Improvement Act (all provisions). HR 5405, Promoting Job Creation and Reducing Small Business Burdens Act (all provisions). HR 5016, Financial Services and General Government Appropriations Act, 2015 (all provisions). HR 5461, to clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to improve upon the definitions provided for points and fees in connection with a mortgage transaction, and for other purposes (all provisions). HR 5421, Financial Institution Bankruptcy Act of 2014 (all provisions). HR 83, Consolidated and Further Continuing Appropriations Act, 2015 (provisions related to swaps push-out and banking). Draft legislation that amends the Financial Stability Act of 2010 to specify when bank holding companies may be subject to certain enhanced supervision and prudential standards, and for other purposes (no specific bill). General discussions related to employment and re-employment programs (NextJob program), unemployment insurance and covering a draft proposal (Unemployment Insurance Jumpstart Program) (no specific bill). Issues related to bank fees, card fees and rate caps, and credit card interchange and debit card interchange (Senator Durbin amendment, electronic debit card transactions) (no specific bill). General discussions and issues related to policy development, legislative and regulatory implementation, process, systems and structures, general discussions and issues related to product new development, Volcker rule, CCAR and capital planning, resolution planning and stress test, living wills, bank liquidity (LCR), CLO, end user margins, point/fees and Basel, SIFI designation, corporate governance and general banking matters (no specific bill). H.R. 4173 (111th Congress, P.L. 111-203): Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act); regulatory implementation discussions covering rules and regulations, including discussions with the Consumer Financial Protection Bureau (for which there is no CFPB listing on Line 17 available), on structure, regulatory implementation, oversight, process, enforcement and compliant handling. General discussions covering the Dodd-Frank Act and provisions (Act repeal, amending and technical fixes), Volcker rule, Financial Stability Oversight Council, Office of Financial Research, systemically important financial institutions designations, prudential regulations, mortgage regulations (qualified mortgages, qualified residential mortgages), corporate governance, enhanced prudential standards (165/166), stress testing, capital planning, living will, remittance, 716, push-out, Title VII (swaps/derivatives), Title II, section 1071, overdraft, pre-paid cards, examinations and other banking and financial services related provisions. Issues related to cyber-security, data breach and privacy, protecting consumer information, general discussions (no specific bill).

Client expense: $200,000 · Firm income: Not reported

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE

Legislation to amend Title VII of the Dodd-Frank Act, H.R. 634/S. 888 and H.R. 992/S. 474; as well as bank ownership of physical commodities

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

Government targets: Commodity Futures Trading Commission (CFTC), Environmental Protection Agency (EPA), Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, White House Office

Legislation to amend Title VII of the Dodd-Frank Act, H.R. 634/S. 888 and H.R. 992/S. 474; as well as bank ownership of physical commodities

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

Government targets: Commodity Futures Trading Commission (CFTC), Environmental Protection Agency (EPA), Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, White House Office

Federal Regulatory Activity OCC guidance on derivatives under Dodd-Frank; CFPB Ability to Repay Rule and Qualified Mortgage Rule; CFPB mortgage servicing final rules (TILA and RESPA); CFPB escrow final rule under Dodd-Frank; CFPB loan originator and mortgage servicing rules; Basel Committee Liquidity Standard; FDIC appraisal requirements under Dodd-Frank; Federal Reserve proposed rule on enhanced prudential standards and early remediation requirements for large foreign banks under Dodd-Frank; Federal banking agency revisions to Call Report rules; FEMA/ National Flood Insurance; OCC lending limits rule; SEC municipal advisor rule, GSE repurchases; Section 619, Dodd-Frank Wall Street Reform and Consumer Protection Act. Final Rule, Volcker Rule, IRS Regulation 67(e), Federal Home Loan Bank membership requirements. Federal Legislative Activity Cybersecurity legislation: (H.R. 86, H.R.394, H.R.624, H.R.866, S.21); Credit Union Business Lending (H.R.588, S.968); Regulatory Reform (S.450, H.R. 719, H.R.1750, H.R. 1553); mortgage foreclosure legislation (H.R.736, S.249); Privacy: H.R. 749; Basel and Capital requirements: (H.R. 1221, H.R. 1341, S.731, S.798); GSE Reform (S.563, S.1217); Community banks: (H.R. 1603. H.R. 1693); derivatives: (H.R.992, H.R. 634, H.R. 1256); Flood insurance: (H.R.3547, S.1846); TRIA (S.2244, H.R.4871)

Client expense: $65,000 · Firm income: Not reported

Government targets: Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA)

Implementation issues related to the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203); H.R.701, To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action; H.R.801, Holding Company Registration Threshold Equalization Act of 2014; H.R.1341, Financial Competitive Act of 2013;H.R.634, Business Risk Mitigation and Price Stabilization Act of 2013; H.R.677, Inter-Affiliate Swap Clarification Act; H.R.992, Swaps Regulatory Improvement Act; H.R.1256, Swap Jurisdiction Certainty Act; S.1003, A bill to amend the Higher Education Act of 1965 to reset interest rates for new student loans; S.953, Student Loan Affordability Act; H.R.1979/S.897, Bank on Students Loan Fairness Act; H.R.1911, Smarter Solutions for Students Act; S.798, TBTF Act (Terminating Bailouts for Taxpayer Fairness Act of 2013); H.R.4167, Restoring Proven Financing for American Employers Act; H.R.4200, SBIC Advisers Relief Act; H.R.4554, Restricted Securities Relief Act; H.R.4568, Small Business Freedom to Grow Act; H.R.4571, To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans; H.R.4569, Disclosure Modernization and Simplification Act; H.R.4570, Private Placement Improvement Act; H.R.4565, Startup Capital Modernization Act; H.R.2673, Portfolio Lending and Mortgage Access Act; H.R.4466, Financial Regulatory Clarity Act; H.R.4881, a bill to place a 6-month moratorium on the authority of the Financial Stability Oversight Council to make financial stability determinations; H.R.4387, the FSOC Transparency and Accountability Act; H.R.5461, To clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to improve upon the definitions provided for points and fees in connection with a mortgage transaction, and for other purposes; financial services issues.

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

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE

H.R. 4173/Public Law 111-203 Dodd-Frank Wall Street Reform and Consumer Protection Act, implementation and regulatory reform H.R. 992, amends provisions in Section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to Federal assistance for swap entities.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 992, the Swaps Regulatory Improvement Act

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

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. HR 634: Business Risk mitigation and Price-Stabilization Act of 2013- 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: (1) Is eligible for an 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); or (2)satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. HR 992: To amend provisions in Section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to Federal Futures Trading Commission (CFCT), before promulgating a regulation or issuing an order, consider the cost and benefits of the action. Requires the CFCT, through the Office of the Chief Economist, to (1) assess the cost and benefits, both qualitative and quantitative, of an intended regulation; and (2) propose or adopt a regulation only on a reasoned determination that the benefits justify the cost. HR 1256: Swap Jurisdiction Certainty Act- Directs the Securities and determination on that the benefits justify the cost. HR 1256: Swap Jurisdiction Certainty Act- Directs the Securities and Exchange Commission (SEC) and the Commodity (CFCT) to issue rules jointly governing the application of swaps requirements of the Securities Exchange Act of 1934 and the Commodity Exchange Act, respectively, in connection with swaps and security-based swaps transacted between U.S. persons and non-U.S. persons. HR 2374: Retail Investor Protection Act- To amend the Securities Exchange Act of 1934 to provide protections for retail customers, and for other purposes.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 677, the Inter-Affiliate Swap Clarification Act; H.R. 1256, the Swap Jurisdiction Certainty Act; H.R. 1341, Financial Competitive Act of 2013; H.R. 992, the Swaps Regulatory Improvement Act; HR 4164, Restoring Proven Financing for American Employers Act; HR 4413, Consumer Protection and End User Relief Act

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 677, the Inter-Affiliate Swap Clarification Act; H.R. 1256, the Swap Jurisdiction Certainty Act; H.R. 1341, Financial Competitive Act of 2013; H.R. 992, the Swaps Regulatory Improvement Act; HR 4164, Restoring Proven Financing for American Employers Act; HR 4413, Consumer Protection and End User Relief Act

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 634 (Business Risk Mitigation and Price Stabilization Act); H.R. 677 (Inter-Affiliate Swap Classification Act); H.R. 742 (Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013); H.R. 992 (Swaps Regulatory Improvement Act);H.R. 1003 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1038 (Public Power Risk Management Act of 2013); H.R. 1256 (Swaps Jurisdiction Certainty Act); H.R. 4413 (The Customer Protection and End-User Relief Act); H.R. 5016 (Financial Services and General Government Appropriations Act, 2015) S. 474 (Swaps Regulatory Improvement Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity pool operators amendments; Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); Cross-border Guidance and Exemptive Order; Banks in physical commodity markets; Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Jumpstart Our Business Startups (JOBS) Act implementation; IHS Global report on the Role of Banks in Physical Commodities; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; The Volcker Rule; Block trades; Insurance-linked securities; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; CFTC nominees; Commodities (general); Highway Trust Fund legislation.

Client expense: $2,010,000 · 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 the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 25 (Fair Tax Act of 2013); H.R. 30 (Small Business Investment Enhancement and Tax Relief Act); H.R. 122 (Creating Jobs From Innovative Small Businesses Act of 2013); H.R. 290 (Full Faith and Credit Act of 2013);H.R. 505 (Balancing Act); H.R. 613 (Systemic Risk Mitigation Act); H.R. 624 (Cyber Intelligence Sharing and Protection Act); H.R. 634 (Business Risk Mitigation and Price Stabilization Act); H.R. 677 (Inter-Affiliate Swap Classification Act); H.R. 694 (Corporate Tax Fairness Act); H.R. 701 (To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action); H.R. 719 (Capital Access for Small Businesses and Jobs Act); H.R. 742 (Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013); H.R. 756 (Cybersecurity Enhancement Act of 2013); H.R. 807 (Full Faith and Credit Act); H.R. 815 (To amend the Internal Revenue Code of 1986 to make certain dividends and distributions paid to individuals from certain small businesses exempt from tax to the extent of the increased wages of the small business); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 889 (Unfunded Mandates Information and Transparency Act of 2013); H.R. 935 (Reducing Regulatory Burdens Act of 2013); H.R. 947 (Small Business Accounting and Tax Simplification Act); H.R. 992 (Swaps Regulatory Improvement Act); H.R. 1003 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1101 (Homeowners and Taxpayers Protection Act of 2013); H.R. 1105 (Small Business Capital Access and Job Preservation Act); H.R. 1062 (SEC Regulatory Accountability Act); H.R. 1064 (National Association of Registered Agents and Brokers Reform Act of 2013); H.R. 1115 (To amend the Securities Exchange Act of 1934 to prohibit any national securities exchange from effecting any transaction in a security issued by a corporation unless the corporation's registration with the exchange includes a certification that the corporation currently is in compliance with the provisions of the Federal Election Campaign Act of 1971 governing contributions and expenditures by corporations which were in effect with respect to elections held during 2008); H.R. 1135 (Burdensome Data Collection Relief Act); H.R. 1155 (National Association of Registered Agents and Brokers Reform Act of 2013); H.R. 1221 (Basel III Capital Impact Study Act); H.R. 1256 (Swap Jurisdiction Certainty Act); H.R.1335 (Short Sale Transparency Act of 2013); H.R.1341 (Financial Competitive Act of 2013)(Credit Valuation Adjustment (CVA)); H.R. 1844 (Arbitration Fairness Act of 2013); H.R. 2374 (Retail Investor Protection Act); H.R. 2998 (Investor Choice Act of 2013); H.R. 3482 (Restoring Main Street Investor Protection and Confidence Act); H.R. 3696 (National Cybersecurity and Critical Infrastructure Protection Act of 2013); H.R. 4167 (Restoring Proven Financing for American Employers Act); H.CON.RES.25 (Establishing the budget for the United States Government for fiscal year 2014 and setting forth appropriate budgetary levels for fiscal years 2015 through 2023); S. 1 (Immigration Reform that Works for America's Future Act); S. 8 (End Wasteful Tax Loopholes Act); S. 21 (Cybersecurity and American Cyber Competitiveness Act of 2013); S. 122 (Fair Tax Act of 2013); S. 169 (I-Squared Act of 2013)(Immigration reform); S. 173 (Simplified, Manageable, And Responsible Tax Act); S. 249 (Responsible Homeowner Refinancing Act of 2013); S. 277 (Job Preservation and Economic Certainty Act of 2013); S. 278 (Job Preservation and Sequester Replacement Act of 2013); S. 321 (Paying a Fair Share Act of 2013);S. 387 (American Infrastructure Investment Fund Act); S. 399 (American Job Protection Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 450 (Financial Regulatory Responsibility Act of 2013); S. 451 (Dodd-Frank Wall Street Reform and Consumer Protection Technical Corrections Act of 2013); S. 474 (Swaps Regulatory Improvement Act); S. 534 (National Association of Registered Agents and Brokers Reform Act of 2013); S. 798 (TBTF Act); S. 1725 (Restoring Main Street Investor Protection and Confidence Act); S. 1999 (SCRA Rights Protection Act of 2014); S. 2588 (Cybersecurity Information Sharing Act of 2014); S.AMDT.2006 (Amends H.CON.RES.25); FINRA Regulatory Notice 2013-002; Market data rule proposals (SR-NASDAQ-2012-042;SR-NASDAQ-2012-044;SR-NASDAQ-2012-005); SR-NYSEArca-2011-96; Market data (Exchange Act Section 19 and related rules); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; 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; Title I and Title II); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; 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; 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; Basel Securitization Framework; G-20; Amendments to the 2012 Indian Finance Bill; TransAtlantic Trade and Investment Partnership (TTIP); Trade Promotion Authority (TPA); India Financial Sector Reform; 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; 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; Commodity Pools and Securitization; Tick-size pilot program; EU Capital and Resolution; National Institute of Standards and Technology (NIST) Framework; Incentives for the adoption of the NIST Framework; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Fee pilot program for NASDAQ last sale (File no. SR-NASDAQ-2013-126); Office of Financial Research study (Asset Management and Financial Stability); Legal Entity Identifier; Financial Stability Board; OCC, FDIC, and Federal Reserve rule proposal on Basel III Liquidity Coverage Ratio; FSOC consideration of systemically important financial institutions (SIFIs); Prudential regulators; NASDAQ and NYSE market data fee proposals; SEC draft strategic plan; Leverage capital requirements; Basel capital and liquidity; Cybersecurity issues (general); Release No. 34-71958, SBSD Recordkeeping; Bankruptcy code reform; Municipalities Continuing Disclosure Cooperation Initiative; Regulation AB II; Recordkeeping Requirements; Rules 17a-3, 17a-4 (Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority); Consumer Privacy Notices - Docket No. CFPB-2014-0010; Regulatory Notice 14019, BrokerCheck Hyperlink; Preserving America's Transit and Highways ("PATH") Act; Regulation AB II (asset backed securities - Securities and Exchange Commission, Consumer Financial Protection Bureau).

Client expense: $2,010,000 · 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 the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 634 (Business Risk Mitigation and Price Stabilization Act); H.R. 677 (Inter-Affiliate Swap Classification Act); H.R. 742 (Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013); H.R. 992 (Swaps Regulatory Improvement Act);H.R. 1003 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1038 (Public Power Risk Management Act of 2013); H.R. 1256 (Swaps Jurisdiction Certainty Act); H.R. 4413 (The Customer Protection and End-User Relief Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity pool operators amendments; Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); Cross-border Guidance and Exemptive Order; Banks in physical commodity markets; Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Jumpstart Our Business Startups (JOBS) Act implementation; IHS Global report on the Role of Banks in Physical Commodities; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; The Volcker Rule; Block trades; Insurance-linked securities; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; CFTC nominees; Commodities (general).

Client expense: $1,770,000 · 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)

H.R. 25 (Fair Tax Act of 2013); H.R. 30 (Small Business Investment Enhancement and Tax Relief Act); H.R. 122 (Creating Jobs From Innovative Small Businesses Act of 2013); H.R. 290 (Full Faith and Credit Act of 2013);H.R. 505 (Balancing Act); H.R. 613 (Systemic Risk Mitigation Act); H.R. 624 (Cyber Intelligence Sharing and Protection Act); H.R. 634 (Business Risk Mitigation and Price Stabilization Act); H.R. 677 (Inter-Affiliate Swap Classification Act); H.R. 694 (Corporate Tax Fairness Act); H.R. 701 (To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action); H.R. 719 (Capital Access for Small Businesses and Jobs Act); H.R. 742 (Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013); H.R. 756 (Cybersecurity Enhancement Act of 2013); H.R. 807 (Full Faith and Credit Act); H.R. 815 (To amend the Internal Revenue Code of 1986 to make certain dividends and distributions paid to individuals from certain small businesses exempt from tax to the extent of the increased wages of the small business); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 889 (Unfunded Mandates Information and Transparency Act of 2013); H.R. 935 (Reducing Regulatory Burdens Act of 2013); H.R. 947 (Small Business Accounting and Tax Simplification Act); H.R. 992 (Swaps Regulatory Improvement Act); H.R. 1003 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1101 (Homeowners and Taxpayers Protection Act of 2013); H.R. 1105 (Small Business Capital Access and Job Preservation Act); H.R. 1062 (SEC Regulatory Accountability Act); H.R. 1064 (National Association of Registered Agents and Brokers Reform Act of 2013); H.R. 1115 (To amend the Securities Exchange Act of 1934 to prohibit any national securities exchange from effecting any transaction in a security issued by a corporation unless the corporation's registration with the exchange includes a certification that the corporation currently is in compliance with the provisions of the Federal Election Campaign Act of 1971 governing contributions and expenditures by corporations which were in effect with respect to elections held during 2008); H.R. 1135 (Burdensome Data Collection Relief Act); H.R. 1155 (National Association of Registered Agents and Brokers Reform Act of 2013); H.R. 1221 (Basel III Capital Impact Study Act); H.R. 1256 (Swap Jurisdiction Certainty Act); H.R.1335 (Short Sale Transparency Act of 2013); H.R.1341 (Financial Competitive Act of 2013)(Credit Valuation Adjustment (CVA)); H.R. 1844 (Arbitration Fairness Act of 2013); H.R. 2374 (Retail Investor Protection Act); H.R. 2998 (Investor Choice Act of 2013); H.R. 3482 (Restoring Main Street Investor Protection and Confidence Act); H.R. 3696 (National Cybersecurity and Critical Infrastructure Protection Act of 2013); H.R. 4167 (Restoring Proven Financing for American Employers Act); H.CON.RES.25 (Establishing the budget for the United States Government for fiscal year 2014 and setting forth appropriate budgetary levels for fiscal years 2015 through 2023); S. 1 (Immigration Reform that Works for America's Future Act); S. 8 (End Wasteful Tax Loopholes Act); S. 21 (Cybersecurity and American Cyber Competitiveness Act of 2013); S. 122 (Fair Tax Act of 2013); S. 169 (I-Squared Act of 2013)(Immigration reform); S. 173 (Simplified, Manageable, And Responsible Tax Act); S. 249 (Responsible Homeowner Refinancing Act of 2013); S. 277 (Job Preservation and Economic Certainty Act of 2013); S. 278 (Job Preservation and Sequester Replacement Act of 2013); S. 321 (Paying a Fair Share Act of 2013);S. 387 (American Infrastructure Investment Fund Act); S. 399 (American Job Protection Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 450 (Financial Regulatory Responsibility Act of 2013); S. 451 (Dodd-Frank Wall Street Reform and Consumer Protection Technical Corrections Act of 2013); S. 474 (Swaps Regulatory Improvement Act); S. 534 (National Association of Registered Agents and Brokers Reform Act of 2013); S. 798 (TBTF Act); S. 1725 (Restoring Main Street Investor Protection and Confidence Act); S. 1999 (SCRA Rights Protection Act of 2014); S.AMDT.2006 (Amends H.CON.RES.25); FINRA Regulatory Notice 2013-002; Market data rule proposals (SR-NASDAQ-2012-042;SR-NASDAQ-2012-044;SR-NASDAQ-2012-005); SR-NYSEArca-2011-96; Market data (Exchange Act Section 19 and related rules); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; 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; Title I and Title II); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; 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; 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; Basel Securitization Framework; G-20; Amendments to the 2012 Indian Finance Bill; TransAtlantic Trade and Investment Partnership (TTIP); Trade Promotion Authority (TPA); India Financial Sector Reform; 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; 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; Commodity Pools and Securitization; Tick-size pilot program; EU Capital and Resolution; National Institute of Standards and Technology (NIST) Framework; Incentives for the adoption of the NIST Framework; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Fee pilot program for NASDAQ last sale (File no. SR-NASDAQ-2013-126); Office of Financial Research study (Asset Management and Financial Stability); Legal Entity Identifier; Financial Stability Board; OCC, FDIC, and Federal Reserve rule proposal on Basel III Liquidity Coverage Ratio; FSOC consideration of systemically important financial institutions (SIFIs); Prudential regulators; NASDAQ and NYSE market data fee proposals; SEC draft strategic plan; Leverage capital requirements; Basel capital and liquidity; Senate Intel Committee Cybersecurity Bill (not yet introduced); Cybersecurity issues (general).

Client expense: $1,770,000 · 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)

S.474, the Swaps Regulatory Improvement Act (all provisions) S. 710, the Municipal Advisors Relief Act of 2013 (all provisions to exempt commercial banks and savings and loan associations from the Dodd-Frank Act provisions requiring regulation of municipal advisors)S. 731, the Basel III CASE Act (all provisions) S. 737, the Basel III Impact Study Act (all provisions) S. 798, the Terminating Bailouts for Taxpayer Fairness Act of 2013 (all provisions) H.R. 634, Business Risk Mitigation and Price Stabilization Act of 2013 (provisions to clarify that end users would not be subject to margin requirements for un-cleared swaps) H.R. 677, the Inter-Affiliate Swap Clarification Act (all provisions H.R. 742, the Swap Data Repository and Clearinghouse Indemnification Correction Act H.R.797 , the Municipal Advisor Oversight Improvement Act of 2013 H.R. 992, the Swaps Regulatory Improvement Act (all provisions) H.R. 1003, to provide for a full assessment of the costs and benefits of Commodity Futures Trading Commission (CFTC) regulations H.R. 1062, the SEC Regulatory Accountability Act (all provisions to require the SEC to do a thorough cost-benefit analysis before proposing a new regulation) H.R. 1256, the Swap Jurisdiction Certainty Act Draft Senate legislation to exempt commercial banks from municipal advisor regulation Discussion Draft of the Swap Jurisdiction Certainty Act (all provisions) Draft legislation that would require the Treasury Department to determine which commercial banks, investment banks, hedge funds, and insurance companies are too-big-to-fail, and to break up those institutions within one year.

Client expense: Not reported · Firm income: Not reported

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

H.R. 4060: Systemic Risk Designation Improvement Act of 2014: A bill to amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to specify when bank holding companies may be subject to certain enhanced supervision; Provisions related to bank regulation. S. 1720: Patent Transparency and Improvements Act of 2013: A bill to promote transparency in patent ownership and make other improvements to the patent system and for other purposes; Provisions related to patent reform. S. 1897: Personal Data Privacy and Security Act of 2014: A bill to prevent and mitigate identity theft, to ensure privacy, to provide notice of security breaches, and to enhance criminal penalties, law enforcement assistance, and other protections against security breaches, fraudulent access, and uses of personally identifiable information; Provisions related to cyber security/data breach. S. 1927: Data Security Act of 2014: A bill to protect information relating to consumers, to require notice of security breaches,and for other purposes; Provisions related to cyber security/data breach. S. 1976: Data Security and Breach Notification Act of 2014: A bill to protect consumers by requiring reasonable security policies and procedures to protect data containing personal information, and to provide for nationwide notice in the event of a breach of security; Provisions related to cyber security/data breach. H.R. 3036: A bill to amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to specify when bank holding companies may be subject to certain enhanced supervision; Provisions related to SIFI Designation. S. 21: Cybersecurity and American Cyber Competitiveness Act of 2013: A bill to secure the United States against cyber attack, to improve communication and collaboration between the private sector and the Federal Government, to enhance American competitiveness and create jobs in the information technology industry, and to protect the identities and sensitive information of American citizens and businesses; Provisions related to cyber security. S. 474: Swaps Regulatory Improvement Act: A bill to amend provisions in section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to Federal assistance for swaps entities; Provisons related to derivatives regulation. S. 1353: Cybersecurity Act of 2013: To provide for an ongoing, voluntary public-private partnership to improve cybersecurity,and to strengthen cybersecurity research and development, workforce development and education, and public awareness and preparedness, and for other purposes; Provisions related to cyber security. S. 1612: Patent Litigation Integrity Act of 2013: To deter abusive patent litigation by targeting the economic incentives that fuel frivolous lawsuits; Provisions related to patent reform. H.R. 992: Swaps Regulatory Improvement Act: A bill to amend provisions in section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to Federal assistance for swaps entities; Provisions related to derivatives regulation. H.R. 4986: End Operation Choke Point Act of 2014: A bill to amend certain banking statutes in response to Operation Choke Point; Provisions related to payments. H.R. 624: A bill to provide for the sharing of certain cyber threat intelligence and cyber threat information between the intelligence community and cyber security entities, and for other purposes; Provisions related to cybersecurity. H.R. 3309: To amend title 35, United States Code, and the Leahy-Smith America Invents Act to make improvements and technical corrections, and for other purposes; Provisions related to patent reform. H.R. 4532: To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to specify when bank holding companies may be subject to certain enhanced supervision; Provisions related to bank regulation. H.R. 5421: A bill to amend title 11 of the United States Code in order to facilitate the resolution of an insolvent financial institution in bankruptcy; Provisions related to bank resolution. S. 798: A bill to address equity capital requirements for financial institutions, bank holding companies, subsidiaries, and affiliates, and for other purposes; Provisions related to bank regulation. S. 2588: An original bill to improve cybersecurity in the United States through enhanced sharing of information about cybersecurity threats, and for other purposes; Provisions related to cybersecurity. H.R. 5461: A bill to clarify the application of certain leverage and risk-basked requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to improve upon the definitions provided for points and fees in connection with a mortgage transaction, and for other purposes; Provisions related to bank regulation. S. 1995: A bill to protect consumers by mitigating the vulnerability of personally identifiable information to theft through a security breach, providing notice and remedies to consumers in the wake of such a breach, holding companies accountable for preventable breaches, facilitating the sharing of post-breach technical information between companies, and enhancing criminal and civil penalties and other protections against the unauthorized collection or use of personally identifiable information; Provisions related to cybersecurity/data breach. - Issues related to the implementation of Title I of Dodd-Frank; Provisions related to bank resolution. - Issues related to the implementation of Title II of Dodd-Frank; Provisions related to bank resolution. - General AML / BSA compliance issues.

Client expense: $370,000 · Firm income: Not reported

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

Met with House and Senate on large bank issues Met with House and Senate on credit card issues Met with House and Senate staff on capital leverage matters Met with House and Senate staff on flood insurance issues Met with House and Senate issues related to data security and payments system integrity H.R.5461 - To clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to improve upon the definitions provided for points and fees in connection with a mortgage transaction, and for other purposes - all provisions H.R.5421 - The Financial Institution Bankruptcy Act of 2014 - all provisions H.R.613 - Systemic Risk Mitigation Act - all provisions H.R.677 - Inter-Affiliate Swap Clarification Act - all provisions H.R.992 - Swaps Regulatory Improvement Act - all provisions H.R.1256 - Swap Jurisdiction Certainty Act - all provisions H.R.1341 - Financial Competitive Act of 2013 - all provisions H.R.2767 - Protecting American Taxpayer and Homeowners (PATH) Act of 2013 - all provisions H.R.3448 - the Small Cap Liquidity Reform Act of 2013 - all provisions H.R.4167 - the Restoring Proven Financing for American Employers Act - all provisions H.R.4413 - Customer Protection and End User Relief Act - all provisions S.169 - I-Squared Act of 2013 - all provisions S.296 - Uniting American Families Act of 2013 - all provisions S.474 - Swaps Regulatory Improvement Act - all provisions S.798 - Terminating Bailouts for Taxpayer Fairness Act - all provisions S.1217 - Housing Finance Reform Act - all provisions S.1282 - 21st Century Glass-Steagall Act of 2013 - all provisions

Client expense: $1,290,000 · Firm income: Not reported

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

H.R. 677 - Inter-Affiliate Swap Clarification Act - all aspects of the bill H.R. 634 - Business Risk Mitigation and Price Stabilization Act of 2013- all aspects of the bill H.R. 742 - Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013- all aspects of the billH.R. 1003 - a bill to improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders- all aspects of the bill H.R. 992 - Swaps Regulatory Improvement Act- all aspects of the bill H.R. 1038 - Public Power Risk Management Act of 2013- all aspects of the bill S. 888, a bill to provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities H.R. 4113 - Customer Protection and End User Relief Act - all aspects of the bill Exchange Act of 1934 - all aspects of the bill Draft Bill - Swap Jurisdiction Certainty Act- all aspects of the bill General discussion of tax reform legislation that would impose mark-to-market accounting on derivatives and commodity contracts General discussion of legislation regarding the scope of physical energy market transactions subject to CFTC regulation Rules regarding swap data recordkeeping and responsibility Rules regarding trade options for transactions involving embedded volumetric optimality. HR 4413 The Customer Protection and End User Relief Act all aspects of the bill Legislation to reauthorize the Commodities Futures Trading Commission

Client expense: $470,000 · Firm income: Not reported

Government targets: Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Energy, Dept of, Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), SENATE, State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, White House Office

H.R. 25 (Fair Tax Act of 2013); H.R. 30 (Small Business Investment Enhancement and Tax Relief Act); H.R. 122 (Creating Jobs From Innovative Small Businesses Act of 2013); H.R. 290 (Full Faith and Credit Act of 2013);H.R. 505 (Balancing Act); H.R. 613 (Systemic Risk Mitigation Act); H.R. 624 (Cyber Intelligence Sharing and Protection Act); H.R. 634 (Business Risk Mitigation and Price Stabilization Act); H.R. 677 (Inter-Affiliate Swap Classification Act); H.R. 694 (Corporate Tax Fairness Act); H.R. 701 (To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action); H.R. 719 (Capital Access for Small Businesses and Jobs Act); H.R. 742 (Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013); H.R. 756 (Cybersecurity Enhancement Act of 2013); H.R. 807 (Full Faith and Credit Act); H.R. 815 (To amend the Internal Revenue Code of 1986 to make certain dividends and distributions paid to individuals from certain small businesses exempt from tax to the extent of the increased wages of the small business); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 889 (Unfunded Mandates Information and Transparency Act of 2013); H.R. 935 (Reducing Regulatory Burdens Act of 2013); H.R. 947 (Small Business Accounting and Tax Simplification Act); H.R. 992 (Swaps Regulatory Improvement Act); H.R. 1003 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1101 (Homeowners and Taxpayers Protection Act of 2013); H.R. 1105 (Small Business Capital Access and Job Preservation Act); H.R. 1062 (SEC Regulatory Accountability Act); H.R. 1064 (National Association of Registered Agents and Brokers Reform Act of 2013); H.R. 1115 (To amend the Securities Exchange Act of 1934 to prohibit any national securities exchange from effecting any transaction in a security issued by a corporation unless the corporation's registration with the exchange includes a certification that the corporation currently is in compliance with the provisions of the Federal Election Campaign Act of 1971 governing contributions and expenditures by corporations which were in effect with respect to elections held during 2008); H.R. 1135 (Burdensome Data Collection Relief Act); H.R. 1155 (National Association of Registered Agents and Brokers Reform Act of 2013); H.R. 1221 (Basel III Capital Impact Study Act); H.R. 1256 (Swap Jurisdiction Certainty Act); H.R.1335 (Short Sale Transparency Act of 2013); H.R.1341 (Financial Competitive Act of 2013)(Credit Valuation Adjustment (CVA)); H.R. 1627 (Investment Adviser Examination Improvement Act of 2013); H.R. 1844 (Arbitration Fairness Act of 2013); H.R. 2374 (Retail Investor Protection Act); H.R. 2998 (Investor Choice Act of 2013); H.R. 3482 (Restoring Main Street Investor Protection and Confidence Act); H.R. 3696 (National Cybersecurity and Critical Infrastructure Protection Act of 2013); H.R. 4167 (Restoring Proven Financing for American Employers Act); H.CON.RES.25 (Establishing the budget for the United States Government for fiscal year 2014 and setting forth appropriate budgetary levels for fiscal years 2015 through 2023); S. 1 (Immigration Reform that Works for America's Future Act); S. 8 (End Wasteful Tax Loopholes Act); S. 21 (Cybersecurity and American Cyber Competitiveness Act of 2013); S. 122 (Fair Tax Act of 2013); S. 169 (I-Squared Act of 2013)(Immigration reform); S. 173 (Simplified, Manageable, And Responsible Tax Act); S. 249 (Responsible Homeowner Refinancing Act of 2013); S. 277 (Job Preservation and Economic Certainty Act of 2013); S. 278 (Job Preservation and Sequester Replacement Act of 2013);S. 321 (Paying a Fair Share Act of 2013); S. 387 (American Infrastructure Investment Fund Act); S. 399 (American Job Protection Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 450 (Financial Regulatory Responsibility Act of 2013); S. 451 (Dodd-Frank Wall Street Reform and Consumer Protection Technical Corrections Act of 2013); S. 474 (Swaps Regulatory Improvement Act); S. 534 (National Association of Registered Agents and Brokers Reform Act of 2013); S. 798 (TBTF Act); S. 1725 (Restoring Main Street Investor Protection and Confidence Act); S. 1999 (SCRA Rights Protection Act of 2014); S. 2588 (Cybersecurity Information Sharing Act of 2014); S.AMDT.2006 (Amends H.CON.RES.25); FINRA Regulatory Notice 2013-002; Market data rule proposals (SR-NASDAQ-2012-042;SR-NASDAQ-2012-044;SR-NASDAQ-2012-005); SR-NYSEArca-2011-96; Market data (Exchange Act Section 19 and related rules); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; 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; Title I and Title II); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; 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; 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; Basel Securitization Framework; G-20; Amendments to the 2012 Indian Finance Bill; TransAtlantic Trade and Investment Partnership (TTIP); Trade Promotion Authority (TPA); India Financial Sector Reform; Regulatory Capital Requirements; Single Platform/Government Sponsored Enterprises; 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; 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; Commodity Pools and Securitization; Tick-size pilot program; EU Capital and Resolution; National Institute of Standards and Technology (NIST) Framework; Incentives for the adoption of the NIST Framework; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Fee pilot program for NASDAQ last sale (File no. SR-NASDAQ-2013-126); Office of Financial Research study (Asset Management and Financial Stability); Legal Entity Identifier; Financial Stability Board; OCC, FDIC, and Federal Reserve rule proposal on Basel III Liquidity Coverage Ratio; FSOC consideration of systemically important financial institutions (SIFIs); Prudential regulators; NASDAQ and NYSE market data fee proposals; SEC draft strategic plan; Leverage capital requirements; Cybersecurity issues (general); Release No. 34-71958, SBSD Recordkeeping; Bankruptcy code reform; Municipalities Continuing Disclosure Cooperation Initiative; Recordkeeping Requirements; Rules 17a-3, 17a-4 (Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority); Consumer Privacy Notices - Docket No. CFPB-2014-0010; Regulatory Notice 14019, BrokerCheck Hyperlink; Preserving America's Transit and Highways ("PATH") Act; Regulation AB II (asset backed securities - Securities and Exchange Commission, Consumer Financial Protection Bureau); CFTC proposed rule on margin requirements for uncleared swaps; Prudential Regulator's proposed rule on margin requirements for uncleared swaps.

Client expense: $1,790,000 · 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 the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 634 (Business Risk Mitigation and Price Stabilization Act); H.R. 677 (Inter-Affiliate Swap Classification Act); H.R. 742 (Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013); H.R. 992 (Swaps Regulatory Improvement Act);H.R. 1003 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1038 (Public Power Risk Management Act of 2013); H.R. 1256 (Swaps Jurisdiction Certainty Act); H.R. 4413 (The Customer Protection and End-User Relief Act); H.R. 5016 (Financial Services and General Government Appropriations Act, 2015); H.R. 5405 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 5461 (To clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to improve upon the definitions provided for points and fees in connection with a mortgage transaction, and for other purposes); S. 474 (Swaps Regulatory Improvement Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity pool operators amendments; Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); Cross-border Guidance and Exemptive Order; Banks in physical commodity markets; Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Jumpstart Our Business Startups (JOBS) Act implementation; IHS Global report on the Role of Banks in Physical Commodities; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; The Volcker Rule; Block trades; Insurance-linked securities; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; CFTC nominees; Commodities (general); Highway Trust Fund legislation; CFTC no action relief for packaged trades; Security based swaps rules under Title VII; Dodd-Frank Title VII.

Client expense: $1,790,000 · 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 the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 450, Bureau of Consumer Financial Protection Accountability Act H.R. 605, Insurance Consumer Protection and Solvency Act of 2013 H.R. 634, Business Risk Mitigation and Price Stabilization Act of 2013 H.R. 677, Inter-Affiliate Swap Clarification Act H.R. 742, Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013 H.R. 992 / S. 474, Swaps Regulatory Improvement Act H.R. 1038, Public Power Risk Management Act of 2013 H.R. 1062, SEC Regulatory Accountability Act H.R. 1105, Small Business Capital Access and Job Preservation Act H.R. 1106 / S. 550, Small Business Investment Company Modernization Act of 2013 H.R. 1135, Burdensome Data Collection Relief Act H.R. 1221 / S. 737, Basel III Capital Impact Study Act H.R. 1256, Swap Jurisdiction Certainty Act H.R. 1341, Financial Competitive Act of 2013 H.R. 1564 / S. 1526, Audit Integrity and Jobs Protection Act H.R. 1800, Small Business Credit Availability Act H.R. 2122 / S. 1029, Regulatory Accountability Act of 2013 H.R. 2140, Insurance Capital and Accounting Standards Act of 2013 H.R. 2274, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2013 H.R. 2374, Retail Investor Protection Act H.R. 2446, Responsible Consumer Financial Protection Regulations Act of 2013 H.R. 2546 / S. 1257, Protect American Investments Act of 2013 H.R. 2733, Defending American Taxpayers From Abusive Government Takings Act of 2013 H.R. 3193, Consumer Financial Protection Safety and Soundness Improvement Act of 2013 H.R. 3211, Mortgage Choice Act of 2013 H.R. 3448, Small Cap Liquidity Reform Act of 2014 H.R. 3519, Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013 H.R. 3623, Improving Access to Capital for Emerging Growth Companies Act H.R. 3701, U.S. Financial Services Global Viability Act H.R. 3770, Bureau of Consumer Financial Protection-Inspector General Reform Act of 2013 H.R. 3819 / S. 1907, Fairness for Community Job Creators Act H.R. 3928, Federal Reserve Accountability and Transparency Act of 2014 H.R. 4164, Small Company Disclosure Simplification Act H.R. 4167, Restoring Proven Financing for American Employers Act H.R. 4200, SBIC Advisers Relief Act of 2014 H.R. 4383, Bureau of Consumer Financial Protection Small Business Advisory Board Act H.R. 4387, FSOC Transparency and Accountability Act H.R. 4413, Customer Protection and End User Relief Act H.R. 4466, Financial Regulatory Clarity Act of 2014 H.R. 4510 / S. 2270, Insurance Capital Standards Clarification Act of 2014 H.R. 4554, Restricted Securities Relief Act of 2014 H.R. 4565, Startup Capital Modernization Act of 2014 H.R. 4568, Small Business Freedom to Grow Act of 2014 H.R. 4569, Disclosure Modernization and Simplification Act of 2014 H.R. 4570, Private Placement Improvement Act of 2014 H.R. 4571, To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans H.R. 4604, CFPB Data Collection Security Act H.R. 4662, Bureau Advisory Opinion Act H.R. 4684, Bureau Guidance Transparency Act H.R. 4697, Small-Cap Access to Capital Act H.R. 4804, Bureau Examination Fairness Act H.R. 4811, Bureau Guidance Transparency Act H.R. 4842, Business Supply Chain Transparency on Trafficking and Slavery Act of 2014 H.R. 5402, Standard Merger and Acquisition Reviews Through Equal Rules Act of 2014 H.R. 5405, Promoting Job Creation and Reducing Small Business Burdens Act H.R. 5461, To clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to improve upon the definitions provided for points and fees in connection with a mortgage transaction, and for other purposes S. 635, Privacy Notice Modernization Act of 2013 S. 888, A bill to provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934 S. 1217, Housing Finance Reform and Taxpayer Protection Act of 2013 S. 1369, A bill to provide additional flexibility to the Board of Governors of the Federal Reserve System to establish capital standards that are properly tailored to the unique characteristics of the business of insurance, and for other purposes S. 2244, Terrorism Risk Insurance Program Reauthorization Act of 2014 S. 2698, Regulatory Easement for Lending Institutions that Enable a Vibrant Economy Act of 2014 Draft legislation on conflict minerals disclosures Various issues relating to the Private Securites Litigation Reform Act (P.L. 104-67), securities litigation; implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203), including proposals to alter the derivatives provisions; Moving Ahead for Progress in the 21st Century Act (P.L. 112-140), including Sec. 40312, issues related to pension fund stabilization; implementation of the Jumpstart our Business Startups Act (P.L. 112-106); Consumer Financial Protection Bureau reform; Securities and Exchange Commission reform; Financial Stability Oversight Council (FSOC) reform; Department of Labor definition of fiduciary duty rules; international capital standards for non-banks; systemic risk regulations for non-bank financial companies; financial reporting policies reform; proposed regulation of money market mutual funds; proposed Volcker Rule, trust preferred bonds and collateralized loan obligations; proposed risk retention rules and the collateralized loan obligations market; Commodity Futures Trading Commission's derivatives regulations; amendments to Rule 701 under the Securities Act of 1933; Basel III capital standards; reconciliation of merchant card and third-party payments; political spending disclosures; transparent financial reporting; Federal Reserve Boards review of 2003 determination that certain commodity activities are complementary to financial activities and thus permissible for bank holding companies; reducing barriers to capital formation; capital requirements and systemically important financial institutions; oversight of proxy advisory firms; credit risk retention rules

Client expense: $28,350,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Consumer Product Safety Commission (CPSC), Council on Environmental Quality (CEQ), Defense, Dept of (DOD), Education, Dept of, Energy, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Executive Office of the President (EOP), Federal Bureau of Investigation (FBI), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), General Services Administration (GSA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Economic Council (NEC), Natl Institute of Standards & Technology (NIST), Natl Labor Relations Board (NLRB), Natl Security Council (NSC), Occupational Safety & Health Administration (OSHA), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), Patent & Trademark Office (PTO), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), State, Dept of (DOS), Transportation Security Administration (TSA), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Copyright Office, U.S. Customs & Border Protection, U.S. Fish & Wildlife Service (USFWS), U.S. Forest Service, U.S. Trade Representative (USTR), White House Office

H.R. 677, Inter-Affiliate Swap Clarification Act H.R. 992 / S. 474, Swaps Regulatory Improvement Act H.R. 1003, To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders H.R. 1341, The Financial Competitive Act of 2013 H.R. 3191, Expanding Opportunities to Underserved Businesses Act H.R. 4413, Customer Protection and End User Relief Act S. 469, A bill to assist the Secretary of Housing and Urban Development in stabilizing the Home Equity Conversion Mortgage program S. 888, To provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934 Various issues relating to the implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203), all provisions and amendments relating to derivatives, corporate governance, and the Volcker Rule; the Financial Stability Oversight Council

Client expense: $28,350,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Consumer Product Safety Commission (CPSC), Council on Environmental Quality (CEQ), Defense, Dept of (DOD), Education, Dept of, Energy, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Executive Office of the President (EOP), Federal Bureau of Investigation (FBI), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), General Services Administration (GSA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Economic Council (NEC), Natl Institute of Standards & Technology (NIST), Natl Labor Relations Board (NLRB), Natl Security Council (NSC), Occupational Safety & Health Administration (OSHA), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), Patent & Trademark Office (PTO), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), State, Dept of (DOS), Transportation Security Administration (TSA), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Copyright Office, U.S. Customs & Border Protection, U.S. Fish & Wildlife Service (USFWS), U.S. Forest Service, U.S. Trade Representative (USTR), White House Office

Issues relating to financial regulatory reform H.R. 3547, Consolidated Appropriations Act H.R. 1256, Swap Jurisdiction Certainty Act H.R. 992, Swaps and Regulatory Improvement Act H.R. 677, Inter-Affiliate Swap Clarification Act

Client expense: Not reported · Firm income: $80,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Legislation affecting the regulation of financial services. General background on legislation and regulation pertaining to derivatives, particularly cross border regulation. Implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203): Title VII (Derivatives). H.R. 634, the Business Risk Mitigation and Price Stabilization Act of 2013. H.R. 677, the Inter-Affiliate Swap Clarification Act. H.R. 742, the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013.H.R. 992, the Swaps Regulatory Improvement Act. H.R. 1062, the SEC Regulatory Accountability Act. H.R. 1256, the Swap Jurisdiction Certainty Act. H.R. 1341, the Financial Competitive Act of 2013. Reauthorization of the Commodities Futures Trading Commission.

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

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE

Legislation affecting the regulation of financial services. General background on legislation and regulation pertaining to derivatives, particularly cross border regulation. Implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203): Title VII (Derivatives). H.R. 634, the Business Risk Mitigation and Price Stabilization Act of 2013. H.R. 677, the Inter-Affiliate Swap Clarification Act. H.R. 742, the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013.H.R. 992, the Swaps Regulatory Improvement Act. H.R. 1062, the SEC Regulatory Accountability Act. H.R. 1256, the Swap Jurisdiction Certainty Act. H.R. 1341, the Financial Competitive Act of 2013. Reauthorization of the Commodities Futures Trading Commission.

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

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE

H.R. 4060 Systemic Risk Designation Improvement Act - Seeking changes to the Department of Education Student Loan Rule Proposal. H.R 992/H.R. 5016 Dodd-Frank Act Push Out Reform Legislation - seeking support for exemption from the Telephone Communications Protection act relating to fraud and data breach notification S.2244/H.R. 4871 Terrorism Risk Insurance Program Extension - discussing the requirements of the Anti-Money Laundering rules, the Patriot Act and the Bank Secrecy Act

Client expense: $27,500 · 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. HR 634: Business Risk mitigation and Price-Stabilization Act of 2013- 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 thecounterparties: (1) Is eligible for an 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); or (2)satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. HR 992: To amend provisions in Section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to Federal Futures Trading Commission (CFCT), before promulgating a regulation or issuing an order, consider the cost and benefits of the action. Requires the CFCT, through the Office of the Chief Economist, to (1) assess the cost and benefits, both qualitative and quantitative, of an intended regulation; and (2) propose or adopt a regulation only on a reasoned determination that the benefits justify the cost. HR 1256: Swap Jurisdiction Certainty Act- Directs the Securities and determination on that the benefits justify the cost. HR 1256: Swap Jurisdiction Certainty Act- Directs the Securities and Exchange Commission (SEC) and the Commodity (CFCT) to issue rules jointly governing the application of swaps requirements of the Securities Exchange Act of 1934 and the Commodity Exchange Act, respectively, in connection with swaps and security-based swaps transacted between U.S. persons and non-U.S. persons. HR 2374: Retail Investor Protection Act- To amend the Securities Exchange Act of 1934 to provide protections for retail customers, and for other purposes.

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

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of

HR 992, S 474, Swaps Regulatory Improvement Act, issues related to derivatives; HR 5016, Financial Services and General Government Appropriations Act, issues related to derivatives; HR 5461, To clarify the application of certain leverage and risk based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, issues regarding collateralized loan obligations; HR 4167, Restoring Proven Financing for American Employers Act, issues regarding business lending; S 1927, Data Security Act of 2014, issues regarding data security; HR 624, Cyber Intelligence Sharing and Protection Act, general issues regarding cyber security; HR 3211, Mortgage Choice Act, issues related to mortgages; S 1861, House draft Bill, Taxpayer Protection and Responsible Resolution Act, issues regarding bank bankruptcy; General issues related to interchange; General issues related to privacy; General issues related to Too Big to Fail; General issues related to data privacy; General issues related to cyber security; General issues related to Dodd-Frank Act; General issues related to bank capital.

Client expense: $430,000 · Firm income: Not reported

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

Issues pertaining to the Crop Insurance Standard Reinsurance Agreement and issues affecting the crop insurance industry in the 2014 Farm Bill, H.R. 2642, the Agricultural Act of 2014, and agricultural appropriations bills; H.R. 4413, the Customer Protection and End-User Relief Act of 2014, all provisions; H.R. 634, Business Risk Mitigation & Price Stabilization Act of 2013, all provisions; issues pertaining to DFA, Title VII derivatives regulation; H.R. 992, Swaps Regulatory Improvement Act of 2013, all provisions; H.R. 677, Inter-Affiliate Swap Clarification Act of 2013, all provisions; H.R. 1256, Swap Jurisdiction Certainty Act, all provisions.

Client expense: $1,580,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), HOUSE OF REPRESENTATIVES, Natl Economic Council (NEC), Risk Management Agency, SENATE, Treasury, Dept of

Public Law 111-203, HR 4173 - Dodd-Frank Wall Street Reform and Consumer Protection Act implementation and regulatory reform. HR 634: Business Risk mitigation and Price-Stabilization Act of 2013 - 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 marginrequirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an 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); or (2) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. HR 992: To amend provisions in Section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection At relating to Federal assistance for swap entities. HR 1003: Amends the Commodity Exchange Act to revise the requirement that the Commodity Futures Trading Commission (CFTC), before promulgating a regulation or issuing an order, consider the costs and benefits of the action. Requires the CFTC, through the Office of the Chief Economist, to: (1) assess the costs and benefits, both qualitative and quantitative, of an intended regulation; and (2) propose or adopt a regulation only on a reasoned determination that the benefits justify the costs. HR 1256: Swap Jurisdiction Certainty Act - Directs the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to issue rules jointly governing the application of swaps requirements of the Securities Exchange Act of 1934 and the Commodity Exchange Act, respectively, in connection with swaps and security-based swaps transacted between U.S. persons and non-U.S. persons. HR 2374: Retail Investor Protection Act - To amend the Securities Exchange Act of 1934 to provide protections for retail customers, and for other purposes.

Client expense: $445,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR)