Increasing Investor Opportunities Act

ESG Disclosure Simplification Act of 2021 (H.R. 1187) Diversity and Inclusion ESG Investing Closed End Funds Increasing Investor Opportunities Act (H.R. 4262/S. 3948) Inflation Reduction Act (HR 5376) Data Privacy

Client expense: $410,000 · Firm income: Not reported

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

Financial Stability Issues Hart Scott Rodino Rule Proposals Exchange Traded Products Increasing Investor Opportunities Act, HR 4262 Climate Risk ESG Disclosure Rule 15c2-11 Money Market Fund Reform Reg ATS U.S. Treasury Market Structure Form PF Private Fund Disclosure Short Sale Proposal Definition of Dealer S. 4241/HR 8521, INDEX Act S. 5064 Secure 2.0/EARN Act HR 2954 Secure 2.0 Digital Assets Equity Market Structure Investment Company Names Rule CCP Risk Swap Block Sizes Uncleared Margin Relief SEC Outsourcing Proposal SEC Open-End Fund Liquidity Risk Management and Swing Pricing Proposal

Client expense: $600,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act Senate bill (S.3948) titled "The Increasing Investor Opportunities Act.

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

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

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act Senate bill (S.3948) titled "The Increasing Investor Opportunities Act.

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

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

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act Senate bill (S.3948) titled "The Increasing Investor Opportunities Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602,Retirement Security Flexibility Act of 2021 - modifies the nondiscrimination requirements that apply to certain employer-sponsored 401(k) retirement plans that include automatic contribution arrangements HR 2265, Financial Exploitation Prevention Act - allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation HR 5723, Social Security 2100 Act: A Sacred Trust - protect our Social Security system and improve benefits for current and future generations HR 4865/S 3198, Registration for Index Linked Annuities (RILA) Act - direct SEC to revise any rules necessary to enable issuers of index-linked annuities to register on a form tailored specifically to registered index-linked annuities S 2583 Disaster Retirement Savings Act - amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters. S 2601Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021 -- allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages. HR 6746 Lifetime Income for Employees Act -- allows fiduciaries of pension plans to make default investment arrangements in annuity contracts HR 6782/S 3712 Auto Reenroll Act of 2022 -- allows sponsors of automatic contribution arrangements to reenroll their employees HR 5877/S 3746 Pension Risk Transfer Accountability Act of 2021 -- requires the Department of Labor to review pension risk transfer standards HR 6912 Pooled Employer Plan (PEP) Fix Act -- to require that named fiduciaries collect contributions to pooled employer plans HR 7107/S 2415 Long-Term Care Affordability Act -- allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance HR 7146/S 1870 Enhancing Emergency and Retirement Savings Act of 2022 -- permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year HR 2954 Securing a Strong Retirement of 2022 -- makes various changes with respect to employer-sponsored retirement plans, including providing for the automatic enrollment of employees in certain plans and increasing the age at which participants are required to begin receiving mandatory distributions. HR 7310, Protecting America's Retirement Security Act -- To protect Americas retirement security S 3955, Starter-K Act of 2022 -- allows employers who do not provide a retirement plan to establish a starter 401(k) deferral-only arrangement for plan years beginning after 2022 HR 7284, Informed Savers Act -- requires the Department of Labor to review the fee disclosure requirements associated with the administration of defined contribution retirement plans S 4086,Increasing Small Business Retirement Choices Act -- amend the Employee Retirement Income Security Act of 1974 to better enable plan sponsors to implement beneficial plan features S 4087, Information Needed for Financial Options Risk Mitigation (INFORM) Act -- require pension plans that offer participants and beneficiaries the option of receiving lifetime annuity payments as lump sum payments, to meet certain notice and disclosure requirements S 4103, Helping Parents Save for College Act of 2022 -- allows a retirement savings tax credit for contributions to any qualified tuition program (e.g., a 529 qualified tuition plan). It also permits a rollover of unused contributions to a ROTH IRA savings account S 4147, Financial Freedom Act -- prohibit the Secretary of Labor from constraining the range or type of investments that may be offered in individual retirement accounts S 4154, Simplifying Small Business Retirement Savings Act -- provide better access to retirement plans through small businesses S 4153, Incentivizing Small Business Retirement Savings Act -- allows eligible small employers an additional pension plan startup cost tax credit HR 7740/S 4219, Employee and Retiree Access to Justice Act - limit mandatory arbitration agreements under ERISA ISSUE, Davis-Bacon Benefits Proposed Rule DOL S 4241, INDEX Act -- to require investment advisers for passively managed funds to arrange for pass-through voting of proxies HR 7594/S 4097, Too Narrow to Succeed Act - instruct DOL to conduct a survey of best practices for increasing the diversity of the asset management firms that invest American workers retirement plan funds S 4310, Emergency Savings Act of 2022 -- allow employers to offer pension-linked emergency savings accounts for financial emergencies S 4353, RISE and SHINE Act -- amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to improve retirement plan provisions S 4361, Savvy Savers Act -- require reports to Congress on reporting and disclosure requirements related to retirement plans S 4102 SSI Savings Penalty Elimination Act - increases resource limits used to determine eligibility for the Supplemental Security Income (SSI) program HR 8521/S 4241 INDEX Act - guidelines for passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes S 4613 Maximize Americans Retirement Security Act - clarify the fiduciary duty of plan administrators to select and maintain investments based solely on pecuniary factors HR 8579 Retirement Protection Act of 2022 - increase retirement savings, simplify and clarify retirement plan rules S 4808 EARN Act - to reform retirement provisions S 4973 Retirement Savings Modernization Act - amend the Employee Retirement Income Security Act of 1974 to clarify the fiduciary duties regarding asset classes. HR 9252/ S 4406 Advancing Auto Portability Act - allows employees to transfer their retirement account upon terminating their employment to a similar account with a new employer. HR 9462/S 5271 Retirement Savings for Americans Act - establish the American Worker Retirement Plan HR 2617 Consolidated Appropriations Act, 2023 - to fund the government for through FY23, includes various retirement security provisions

Issues related to Crypto, digital assets regulation, S.4760 - the Digital Commodities Consumer Protection Act, Stablecoins legislation, MMF regulation, ESG investing, Retirement security legislation (SECURE 2.0), H.R. 4262 - the Increasing Opportunities Act, and retail investor access to alternative investments & private markets.

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

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

H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 8521- INvestor Democracy is EXpected (INDEX) Act (Huizenga) H.R. 9089- Consumer Financial Choice and Capital Markets Protection Act of 2022 (Williams) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) S. 3919- Reporting Requirements Reduction Act of 2022 (Tillis) S. 3945- Restoring Shareholder Transparency Act of 2022 (Haggerty) S. 3948- Increasing Investor Opportunities Act (Daines) S. 3961- Access to Small Business Investor Capital Act (Daines) S. 3965- Increasing Access to Adviser Information Act (Moran) S. 4241- INvestor Democracy is EXpected (INDEX) Act (Sullivan) Diverse Investment Advisers Act (draft) Diversity and Inclusion in the Asset Management Industry Improving Disclosure for Investors Act (draft) Processing fees for delivering investment materials Russia Sanctions/Executive Orders SEC data security/Consolidated Audit Trail breach notification SEC money market fund proposal SEC proposed amendments to the Fund Names Rule SEC proposed Investment Adviser and Fund Disclosures about ESG Investment Practices SEC public company climate disclosure proposal

Client expense: $1,230,000 · Firm income: Not reported

Financial Stability Issues Hart Scott Rodino Rule Proposals Exchange Traded Products Increasing Investor Opportunities Act, HR 4262 Climate Risk ESG Disclosure Rule 15c2-11 Securities Lending Money Market Fund Reform Reg ATS U.S. Treasury Market Structure Form PF Private Fund Disclosure Short Sale Proposal Definition of Dealer S. 4241/HR 8521, INDEX Act S. 5064 Secure 2.0/EARN Act HR 2954 Secure 2.0 Digital Assets Equity Market Structure Investment Company Names Rule CCP Risk Swap Block Sizes Uncleared Margin Relief

Client expense: $690,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act Senate bill (S.3948) titled "The Increasing Investor Opportunities Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act Senate bill (S.3948) titled "The Increasing Investor Opportunities Act.

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

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

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act Senate bill (S.3948) titled "The Increasing Investor Opportunities Act.

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

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

Issues related to Crypto, digital assets regulation, S.4760 - the Digital Commodities Consumer Protection Act, Stablecoins legislation, ESG investing, Retirement security legislation, H.R. 4262 - the Increasing Opportunities Act, and Retail investor access to private markets.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602,Retirement Security Flexibility Act of 2021 - modifies the nondiscrimination requirements that apply to certain employer-sponsored 401(k) retirement plans that include automatic contribution arrangements HR 2265, Financial Exploitation Prevention Act - allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation HR 5723, Social Security 2100 Act: A Sacred Trust - protect our Social Security system and improve benefits for current and future generations HR 4865/S 3198, Registration for Index Linked Annuities (RILA) Act - direct SEC to revise any rules necessary to enable issuers of index-linked annuities to register on a form tailored specifically to registered index-linked annuities S 2583 Disaster Retirement Savings Act - amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters. S 2601Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021 -- allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages. HR 6746 Lifetime Income for Employees Act -- allows fiduciaries of pension plans to make default investment arrangements in annuity contracts HR 6782/S 3712 Auto Reenroll Act of 2022 -- allows sponsors of automatic contribution arrangements to reenroll their employees HR 5877/S 3746 Pension Risk Transfer Accountability Act of 2021 -- requires the Department of Labor to review pension risk transfer standards HR 6912 Pooled Employer Plan (PEP) Fix Act -- to require that named fiduciaries collect contributions to pooled employer plans HR 7107/S 2415 Long-Term Care Affordability Act -- allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance HR 7146/S 1870 Enhancing Emergency and Retirement Savings Act of 2022 -- permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year HR 2954 Securing a Strong Retirement of 2022 -- makes various changes with respect to employer-sponsored retirement plans, including providing for the automatic enrollment of employees in certain plans and increasing the age at which participants are required to begin receiving mandatory distributions. HR 7310, Protecting America's Retirement Security Act -- To protect Americas retirement security S 3955, Starter-K Act of 2022 -- allows employers who do not provide a retirement plan to establish a starter 401(k) deferral-only arrangement for plan years beginning after 2022 HR 7284, Informed Savers Act -- requires the Department of Labor to review the fee disclosure requirements associated with the administration of defined contribution retirement plans S 4086,Increasing Small Business Retirement Choices Act -- amend the Employee Retirement Income Security Act of 1974 to better enable plan sponsors to implement beneficial plan features S 4087, Information Needed for Financial Options Risk Mitigation (INFORM) Act -- require pension plans that offer participants and beneficiaries the option of receiving lifetime annuity payments as lump sum payments, to meet certain notice and disclosure requirements S 4103, Helping Parents Save for College Act of 2022 -- allows a retirement savings tax credit for contributions to any qualified tuition program (e.g., a 529 qualified tuition plan). It also permits a rollover of unused contributions to a ROTH IRA savings account S 4147, Financial Freedom Act -- prohibit the Secretary of Labor from constraining the range or type of investments that may be offered in individual retirement accounts S 4154, Simplifying Small Business Retirement Savings Act -- provide better access to retirement plans through small businesses S 4153, Incentivizing Small Business Retirement Savings Act -- allows eligible small employers an additional pension plan startup cost tax credit HR 7740/S 4219, Employee and Retiree Access to Justice Act - limit mandatory arbitration agreements under ERISA ISSUE, Davis-Bacon Benefits Proposed Rule DOL S 4241, INDEX Act -- to require investment advisers for passively managed funds to arrange for pass-through voting of proxies HR 7594/S 4097, Too Narrow to Succeed Act - instruct DOL to conduct a survey of best practices for increasing the diversity of the asset management firms that invest American workers retirement plan funds S 4310, Emergency Savings Act of 2022 -- allow employers to offer pension-linked emergency savings accounts for financial emergencies S 4353, RISE and SHINE Act -- amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to improve retirement plan provisions S 4361, Savvy Savers Act -- require reports to Congress on reporting and disclosure requirements related to retirement plans S 4406,Advancing Auto Portability Act -- to provide incentives for the use of automatic portability arrangements under defined contribution plans S 4102 SSI Savings Penalty Elimination Act - increases resource limits used to determine eligibility for the Supplemental Security Income (SSI) program HR 8521/S 4241 INDEX Act - guidelines for passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes S 4613 Maximize Americans Retirement Security Act - clarify the fiduciary duty of plan administrators to select and maintain investments based solely on pecuniary factors HR 8579 Retirement Protection Act of 2022 - increase retirement savings, simplify and clarify retirement plan rules S 4808 EARN Act - to reform retirement provisions

ESG Disclosure Simplification Act of 2021 (H.R. 1187) Diversity and Inclusion ESG Investing Closed End Funds Increasing Investor Opportunities Act (H.R. 4262/S. 3948) Inflation Reduction Act (HR 5376)

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

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

Financial Stability Issues Hart Scott Rodino Rule Proposals Exchange Traded Products Increasing Investor Opportunities Act, HR 4262 Climate Risk ESG Disclosure Rule 15c2-11 Securities Lending Money Market Fund Reform Reg ATS U.S. Treasury Market Structure Form PF Private Fund Disclosure Short Sale Proposal Definition of Dealer S. 4241, INDEX Act S. 5064 Secure 2.0/EARN Act HR 2954 Secure 2.0

Client expense: $570,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 7066- Russia and Belarus Financial Sanctions Act (Sherman) H.R. 7151- Ensuring Sound Guidance Act (Barr) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) S. 3919- Reporting Requirements Reduction Act of 2022 (Tillis) S. 3945- Restoring Shareholder Transparency Act of 2022 (Haggerty) S. 3948- Increasing Investor Opportunities Act (Daines) S. 3961- Access to Small Business Investor Capital Act (Daines) S. 3965- Increasing Access to Adviser Information Act (Moran) S. 4241- INvestor Democracy is EXpected (INDEX) Act (Sullivan) Diverse Investment Advisers Act (draft) Diversity and Inclusion in the Asset Management Industry Improving Disclosure for Investors Act (draft) Length of comment period for SEC proposals Processing fees for delivering investment materials Russia Sanctions/Executive Orders SEC data security/Consolidated Audit Trail breach notification SEC money market fund proposal SEC proposed amendments to the Fund Names Rule SEC proposed Investment Adviser and Fund Disclosures about ESG Investment Practices SEC public company climate disclosure proposal

Client expense: $1,010,000 · Firm income: Not reported

ESG Disclosure Simplification Act of 2021 (H.R. 1187) Diversity and Inclusion ESG Investing Closed End Funds Increasing Investor Opportunities Act (H.R. 4262) Build Back Better Act (HR 5376)

Client expense: $620,000 · Firm income: Not reported

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

(1) H.R. 1277, S. 374, Improving Corporate Governance Through Diversity Act of 2021, To amend the Securities Exchange Act of 1934 to require the submission by issuers of data relating to diversity, and for other purposes. Referred to House Financial Services, Feb. 24, 2021 (2) H.R. 1187, ESG Disclosure Simplification Act of 2021. To provide for disclosure of additional material information about public companies and establish a Sustainable Finance Advisory Committee, and for other purposes. Introduced in the House, Feb. 18, 2021 Referred to House Financial Services. (3) H.R. 1087, S 530, Shareholder Political Transparency Act of 2021. To amend the Securities Exchange Act of 1934 to require reporting of certain expenditures for political activities, and for other purposes. (4) H.R. 2123, Diversity Data Accountability Act. To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require regulated entities to provide information necessary for the Offices of Women and Minority Inclusion to carry out their duties, and for other purposes. (5) H.R. 1549, S. 588, To establish the Advisory Committee on Climate Risk on the Financial Stability Oversight Council (6) H.R. ___, Diverse Investment Advisers Act. To require companies registered with the Securities and Exchange Commission, and companies registering securities with the Commission, to consider diverse individual-owned and controlled firms when seeking the services of investment advisers, and for other purposes. (7) H.R. ___, Diversity in Financial Regulatory Advisory Committees Act. To require Federal financial agencies to consider at least one gender-diverse candidate and one racially- or ethnically-diverse candidate when appointing members of advisory committees, and for other purposes. (8) H.R. ___, Promoting Diversity and Inclusion in Banking Act. To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require Federal banking regulators to include a diversity and inclusion component in the Uniform Financial Institutions Rating System, and for other purposes. (9) H.R. ___, Disclosure of Tax Havens and Offshoring Act. To require companies registered with the Securities and Exchange Commission, and companies registering securities with the Commission, to consider diverse individual-owned and controlled firms when seeking the services of investment advisers, and for other purposes. (10) H.R. ___, Climate Risk Disclosure Act. To amend the Securities Exchange Act of 1934 to require certain disclosures relating to climate change, and for other purposes. (11) H.R. ___, Greater Accountability in Pay Act. To amend the Securities Exchange Act of 1934 to require issuers to disclose information on pay raises made to executives and non-executive employees, and for other purposes. (12) H.R ___, Paris Climate Agreement Disclosure Act. To amend the Securities Exchange Act of 1934 to require disclosures related to the Paris Climate Agreement, and for other purposes. (13) S. 606, A bill to require the Board of Governors of the Federal Reserve System and the Securities and Exchange Commission to issue an annual report to Congress projecting and accounting for the economic costs directly and indirectly caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change, and for other purposes. Referred to the Committee on Homeland Security and Governmental Affairs, Mar. 4,2021 (14) H.R. 4262, the Increasing Investor Opportunities Act. The bill increases protections for closed-end funds (CEF) and provides retail investors access to private offerings with protections of the Investment Company Act of 1940. (15) H.R. 3899, FSOC nonbank SIFI designation (16) S.4241 INDEX Act, a bill that would require money managers to provide proxy voting options for share owners to vote at stockholder meetings.

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act Senate bill (S.3948) titled "The Increasing Investor Opportunities Act.

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

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

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act Senate bill (S.3948) titled "The Increasing Investor Opportunities Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act Senate bill (S.3948) titled "The Increasing Investor Opportunities Act.

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

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

(1) H.R. 1277, S. 374, Improving Corporate Governance Through Diversity Act of 2021, To amend the Securities Exchange Act of 1934 to require the submission by issuers of data relating to diversity, and for other purposes. Referred to House Financial Services, Feb. 24, 2021 (2) H.R. 1187, ESG Disclosure Simplification Act of 2021. To provide for disclosure of additional material information about public companies and establish a Sustainable Finance Advisory Committee, and for other purposes. Introduced in the House, Feb. 18, 2021 Referred to House Financial Services. (3) H.R. 1087, S 530, Shareholder Political Transparency Act of 2021. To amend the Securities Exchange Act of 1934 to require reporting of certain expenditures for political activities, and for other purposes. (4) H.R. 2123, Diversity Data Accountability Act. To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require regulated entities to provide information necessary for the Offices of Women and Minority Inclusion to carry out their duties, and for other purposes. (5) H.R. 1549, S. 588, To establish the Advisory Committee on Climate Risk on the Financial Stability Oversight Council (6) H.R. ___, Diverse Investment Advisers Act. To require companies registered with the Securities and Exchange Commission, and companies registering securities with the Commission, to consider diverse individual-owned and controlled firms when seeking the services of investment advisers, and for other purposes. (7) H.R. ___, Diversity in Financial Regulatory Advisory Committees Act. To require Federal financial agencies to consider at least one genderdiverse candidate and one racially- or ethnically-diverse candidate when appointing members of advisory committees, and for other purposes. (8) H.R. ___, Promoting Diversity and Inclusion in Banking Act. To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require Federal banking regulators to include a diversity and inclusion component in the Uniform Financial Institutions Rating System, and for other purposes. (9) H.R. ___, Disclosure of Tax Havens and Offshoring Act. To require companies registered with the Securities and Exchange Commission, and companies registering securities with the Commission, to consider diverse individual-owned and controlled firms when seeking the services of investment advisers, and for other purposes. (10) H.R. ___, Climate Risk Disclosure Act. To amend the Securities Exchange Act of 1934 to require certain disclosures relating to climate change, and for other purposes. (11) H.R. ___, Greater Accountability in Pay Act. To amend the Securities Exchange Act of 1934 to require issuers to disclose information on pay raises made to executives and non-executive employees, and for other purposes. (12) H.R ___, Paris Climate Agreement Disclosure Act. To amend the Securities Exchange Act of 1934 to require disclosures related to the Paris Climate Agreement, and for other purposes. (13) S. 606, A bill to require the Board of Governors of the Federal Reserve System and the Securities and Exchange Commission to issue an annual report to Congress projecting and accounting for the economic costs directly and indirectly caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change, and for other purposes. Referred to the Committee on Homeland Security and Governmental Affairs, Mar. 4,2021 (14) H.R. 4262, the Increasing Investor Opportunities Act. The bill increases protections for closed-end funds (CEF) and provides retail investors access to private offerings with protections of the Investment Company Act of 1940. (15) H.R. 3899, FSOC nonbank SIFI designation (16) S.4241 INDEX Act, a bill that would require money managers to provide proxy voting options for share owners to vote at stockholder meetings.

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602,Retirement Security Flexibility Act of 2021 - modifies the nondiscrimination requirements that apply to certain employer-sponsored 401(k) retirement plans that include automatic contribution arrangements HR 2265, Financial Exploitation Prevention Act - allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation HR 5723, Social Security 2100 Act: A Sacred Trust - protect our Social Security system and improve benefits for current and future generations HR 5891, Retirement Improvement and Savings Enhancement (RISE) Act - to improve and enhance retirement savings HR 4865/S 3198, Registration for Index Linked Annuities (RILA) Act - direct SEC to revise any rules necessary to enable issuers of index-linked annuities to register on a form tailored specifically to registered index-linked annuities S 2583 Disaster Retirement Savings Act - amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters. S 2601Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021 -- allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages. HR 6746 Lifetime Income for Employees Act -- allows fiduciaries of pension plans to make default investment arrangements in annuity contracts HR 6782/S 3712 Auto Reenroll Act of 2022 -- allows sponsors of automatic contribution arrangements to reenroll their employees HR 5877/S 3746 Pension Risk Transfer Accountability Act of 2021 -- requires the Department of Labor to review pension risk transfer standards HR 6912 Pooled Employer Plan (PEP) Fix Act -- to require that named fiduciaries collect contributions to pooled employer plans HR 7107/S 2415 Long-Term Care Affordability Act -- allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance HR 7146/S 1870 Enhancing Emergency and Retirement Savings Act of 2022 -- permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year HR 2954 Securing a Strong Retirement of 2022 -- makes various changes with respect to employer-sponsored retirement plans, including providing for the automatic enrollment of employees in certain plans and increasing the age at which participants are required to begin receiving mandatory distributions. HR 7310, Protecting America's Retirement Security Act -- To protect Americas retirement security S 3955, Starter-K Act of 2022 -- allows employers who do not provide a retirement plan to establish a starter 401(k) deferral-only arrangement for plan years beginning after 2022 HR 7284, Informed Savers Act -- requires the Department of Labor to review the fee disclosure requirements associated with the administration of defined contribution retirement plans S 4086,Increasing Small Business Retirement Choices Act -- amend the Employee Retirement Income Security Act of 1974 to better enable plan sponsors to implement beneficial plan features S 4087, Information Needed for Financial Options Risk Mitigation (INFORM) Act -- require pension plans that offer participants and beneficiaries the option of receiving lifetime annuity payments as lump sum payments, to meet certain notice and disclosure requirements S 4103, Helping Parents Save for College Act of 2022 -- allows a retirement savings tax credit for contributions to any qualified tuition program (e.g., a 529 qualified tuition plan). It also permits a rollover of unused contributions to a ROTH IRA savings account S 4147, Financial Freedom Act -- prohibit the Secretary of Labor from constraining the range or type of investments that may be offered in individual retirement accounts S 4154, Simplifying Small Business Retirement Savings Act -- provide better access to retirement plans through small businesses S 4153, Incentivizing Small Business Retirement Savings Act -- allows eligible small employers an additional pension plan startup cost tax credit HR 7740/S 4219, Employee and Retiree Access to Justice Act - limit mandatory arbitration agreements under ERISA ISSUE, Davis-Bacon Benefits Proposed Rule DOL S 4241, INDEX Act -- to require investment advisers for passively managed funds to arrange for pass-through voting of proxies HR 7594/S 4097, Too Narrow to Succeed Act - instruct DOL to conduct a survey of best practices for increasing the diversity of the asset management firms that invest American workers retirement plan funds S 4310, Emergency Savings Act of 2022 -- allow employers to offer pension-linked emergency savings accounts for financial emergencies S 4353, RISE and SHINE Act -- amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to improve retirement plan provisions S 4361, Savvy Savers Act -- require reports to Congress on reporting and disclosure requirements related to retirement plans DRAFT, Enhancing American Retirement Now (EARN) Act - to improve retirement security S 4406,Advancing Auto Portability Act -- to provide incentives for the use of automatic portability arrangements under defined contribution plans

H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 4616- Adjustable Interest Rate (LIBOR) Act of 2021 (Sherman) H.R. 4618- Short Sale Transparency and Market Fairness Act (Waters) H.R. 6285- Accelerating Holding Foreign Companies Accountable Act (Sherman) H.R. 7066- Russia and Belarus Financial Sanctions Act (Sherman) H.R. 7151- Ensuring Sound Guidance Act (Barr) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 2184- Accelerating Holding Foreign Companies Accountable Act (Kennedy) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) S. 3779- Adjustable Interest Rate (LIBOR) Act (Tester) S. 3948- Increasing Investor Opportunities Act (Daines) Improving Disclosure for Investors Act (draft) Processing fees for delivering investment materials Consolidated Audit Trail data security/breach notification Diverse Investment Advisers Act (draft) Diversity and Inclusion in the Asset Management Industry ESG Reporting Standards Proxy Voting by Asset Managers Russia Sanctions/Executive Orders SEC public company climate disclosure proposal SEC money market fund proposal Shorten US securities settlement cycle to trade date plus one day

Client expense: $950,000 · Firm income: Not reported

(1) H.R. 1277, S. 374, Improving Corporate Governance Through Diversity Act of 2021, To amend the Securities Exchange Act of 1934 to require the submission by issuers of data relating to diversity, and for other purposes. Referred to House Financial Services, Feb. 24, 2021 (2) H.R. 1187, ESG Disclosure Simplification Act of 2021. To provide for disclosure of additional material information about public companies and establish a Sustainable Finance Advisory Committee, and for other purposes. Introduced in the House, Feb. 18, 2021 Referred to House Financial Services. (3) H.R. 1087, S 530, Shareholder Political Transparency Act of 2021. To amend the Securities Exchange Act of 1934 to require reporting of certain expenditures for political activities, and for other purposes. (4) H.R. 2123, Diversity Data Accountability Act. To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require regulated entities to provide information necessary for the Offices of Women and Minority Inclusion to carry out their duties, and for other purposes. (5) H.R. 1549, S. 588, To establish the Advisory Committee on Climate Risk on the Financial Stability Oversight Council (6) H.R. ___, Diverse Investment Advisers Act. To require companies registered with the Securities and Exchange Commission, and companies registering securities with the Commission, to consider diverse individual-owned and controlled firms when seeking the services of investment advisers, and for other purposes. (7) H.R. ___, Diversity in Financial Regulatory Advisory Committees Act. To require Federal financial agencies to consider at least one gender-diverse candidate and one racially- or ethnically-diverse candidate when appointing members of advisory committees, and for other purposes. (8) H.R. ___, Promoting Diversity and Inclusion in Banking Act. To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require Federal banking regulators to include a diversity and inclusion component in the Uniform Financial Institutions Rating System, and for other purposes. (9) H.R. ___, Disclosure of Tax Havens and Offshoring Act. To require companies registered with the Securities and Exchange Commission, and companies registering securities with the Commission, to consider diverse individual-owned and controlled firms when seeking the services of investment advisers, and for other purposes. (10) H.R. ___, Climate Risk Disclosure Act. To amend the Securities Exchange Act of 1934 to require certain disclosures relating to climate change, and for other purposes. (11) H.R. ___, Greater Accountability in Pay Act. To amend the Securities Exchange Act of 1934 to require issuers to disclose information on pay raises made to executives and non-executive employees, and for other purposes. (12) H.R ___, Paris Climate Agreement Disclosure Act. To amend the Securities Exchange Act of 1934 to require disclosures related to the Paris Climate Agreement, and for other purposes. (13) S. 606, A bill to require the Board of Governors of the Federal Reserve System and the Securities and Exchange Commission to issue an annual report to Congress projecting and accounting for the economic costs directly and indirectly caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change, and for other purposes. Referred to the Committee on Homeland Security and Governmental Affairs, Mar. 4,2021 (14) H.R. 4262, the Increasing Investor Opportunities Act. The bill increases protections for closed-end funds (CEF) and provides retail investors access to private offerings with protections of the Investment Company Act of 1940. (15) H.R. 3899, FSOC nonbank SIFI designation

Financial Stability Issues Hart Scott Rodino Rule Proposals Exchange Traded Products Increasing Investor Opportunities Act, HR 4262 Climate Risk ESG Disclosure Rule 15c2-11 Securities Lending Money Market Fund Reform Reg ATS U.S. Treasury Market Structure Form PF Private Fund Disclosure Short Sale Proposal Definition of Dealer

Client expense: $520,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

ESG Disclosure Simplification Act of 2021 (H.R. 1187) Diversity and Inclusion ESG Investing Closed End Funds Increasing Investor Opportunities Act (H.R. 4262) Build Back Better Act (HR 5376) LIBOR

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

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

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act

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

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

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act

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

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

Asset management; depository institution issues; issues related to climate change; H.R. 4262, Increasing Investor Opportunities Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602,Retirement Security Flexibility Act of 2021 - modifies the nondiscrimination requirements that apply to certain employer-sponsored 401(k) retirement plans that include automatic contribution arrangements HR 2265, Financial Exploitation Prevention Act - allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation HR 5723, Social Security 2100 Act: A Sacred Trust - protect our Social Security system and improve benefits for current and future generations HR 5891, Retirement Improvement and Savings Enhancement (RISE) Act - to improve and enhance retirement savings HR 4865/S 3198, Registration for Index Linked Annuities (RILA) Act - direct SEC to revise any rules necessary to enable issuers of index-linked annuities to register on a form tailored specifically to registered index-linked annuities S 2583 Disaster Retirement Savings Act - amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters. S 2601Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021 -- allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages. HR 6746 Lifetime Income for Employees Act -- allows fiduciaries of pension plans to make default investment arrangements in annuity contracts HR 6782/S 3712 Auto Reenroll Act of 2022 -- allows sponsors of automatic contribution arrangements to reenroll their employees HR 5877/S 3746 Pension Risk Transfer Accountability Act of 2021 -- requires the Department of Labor to review pension risk transfer standards HR 6912 Pooled Employer Plan (PEP) Fix Act -- to require that named fiduciaries collect contributions to pooled employer plans DRAFT Emergency Savings Act of 2022 - to facilitate emergency savings options through employer provided accounts HR 7107/S 2415 Long-Term Care Affordability Act -- allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance HR 7146/S 1870 Enhancing Emergency and Retirement Savings Act of 2022 -- permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year HR 2954 Securing a Strong Retirement of 2022 -- makes various changes with respect to employer-sponsored retirement plans, including providing for the automatic enrollment of employees in certain plans and increasing the age at which participants are required to begin receiving mandatory distributions.

1) H.R. 1277, S. 374, Improving Corporate Governance Through Diversity Act of 2021, To amend the Securities Exchange Act of 1934 to require the submission by issuers of data relating to diversity, and for other purposes. Referred to House Financial Services, Feb. 24, 2021 (2) H.R. 1187, ESG Disclosure Simplification Act of 2021. To provide for disclosure of additional material information about public companies and establish a Sustainable Finance Advisory Committee, and for other purposes. Introduced in the House, Feb. 18, 2021 Referred to House Financial Services. (3) H.R. 1087, S 530, Shareholder Political Transparency Act of 2021. To amend the Securities Exchange Act of 1934 to require reporting of certain expenditures for political activities, and for other purposes. (4) H.R. 2123, Diversity Data Accountability Act. To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require regulated entities to provide information necessary for the Offices of Women and Minority Inclusion to carry out their duties, and for other purposes. (5) H.R. 1549, S. 588, To establish the Advisory Committee on Climate Risk on the Financial Stability Oversight Council (6) H.R. ___, Diverse Investment Advisers Act. To require companies registered with the Securities and Exchange Commission, and companies registering securities with the Commission, to consider diverse individual-owned and controlled firms when seeking the services of investment advisers, and for other purposes. (7) H.R. ___, Diversity in Financial Regulatory Advisory Committees Act. To require Federal financial agencies to consider at least one gender diverse candidate and one racially- or ethnically-diverse candidate when appointing members of advisory committees, and for other purposes. (8) H.R. ___, Promoting Diversity and Inclusion in Banking Act. To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require Federal banking regulators to include a diversity and inclusion component in the Uniform Financial Institutions Rating System, and for other purposes. (9) H.R. ___, Disclosure of Tax Havens and Offshoring Act. To require companies registered with the Securities and Exchange Commission, and companies registering securities with the Commission, to consider diverse individual-owned and controlled firms when seeking the services of investment advisers, and for other purposes. (10) H.R. ___, Climate Risk Disclosure Act. To amend the Securities Exchange Act of 1934 to require certain disclosures relating to climate change, and for other purposes. (11) H.R. ___, Greater Accountability in Pay Act. To amend the Securities Exchange Act of 1934 to require issuers to disclose information on pay raises made to executives and non-executive employees, and for other purposes. (12) H.R ___, Paris Climate Agreement Disclosure Act. To amend the Securities Exchange Act of 1934 to require disclosures related to the Paris Climate Agreement, and for other purposes. (13) S. 606, A bill to require the Board of Governors of the Federal Reserve System and the Securities and Exchange Commission to issue an annual report to Congress projecting and accounting for the economic costs directly and indirectly caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change, and for other purposes. Referred to the Committee on Homeland Security and Governmental Affairs, Mar. 4,2021 (14) H.R. 4262, the Increasing Investor Opportunities Act. The bill increases protections for closed-end funds (CEF) and provides retail investors access to private offerings with protections of the Investment Company Act of 1940. (15) H.R. 3899, FSOC nonbank SIFI designation

H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 1996- Secure and Fair Enforcement Banking Act of 2021 (Perlmutter) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 4616- Adjustable Interest Rate (LIBOR) Act of 2021 (Sherman) H.R. 4618- Short Sale Transparency and Market Fairness Act (Waters) H.R. 5598- Access to Small Business Investor Capital Act (Sherman) H.R. 6285- Accelerating Holding Foreign Companies Accountable Act (Sherman) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 910- Secure and Fair Enforcement Banking Act of 2021 (Merkley) S. 1605- National Defense Authorization Act for Fiscal Year 2022 S. 2184- Accelerating Holding Foreign Companies Accountable Act (Kennedy) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) Improving Disclosure for Investors Act Processing fees for delivering investment materials Adjustable Interest Rate (LIBOR) Act (Senate draft) Consolidated Audit Trail SEC Cybersecurity and Data Protection Diverse Investment Advisers Act (House draft) Diversity and Inclusion in the Asset Management Industry Enhanced ESG Disclosure SEC's proposed money market fund reforms Shorten US securities settlement cycle to trade date plus one day Stablecoins

Client expense: $840,000 · Firm income: Not reported

Federal Reserve Supervision of Savings and Loan Holding Companies Asset Manager SIFI Designation FDIC Treatment of Brokered Deposits Section 11 of the Home Owners Loan Act Proxy Advisory Firms/Corporate Governance Data Privacy Legislation Reg BI ESG Disclosure Simplification Act of 2021 (H.R. 1187) Housing Finance Reform Diversity and Inclusion CARES ACT American Rescue Plan (H.R. 1319) Paycheck Protection Program ESG Investing Form 13F E-SIGN Modernization Warehouse Lending Climate Change Closed End Funds Renewable Fuel Standard/Biofuels Increasing Investor Opportunities Act (H.R. 4262) Build Back Better Act LIBOR Sustainable Finance

Client expense: $550,000 · Firm income: Not reported

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

H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 1996- Secure and Fair Enforcement Banking Act of 2021 (Perlmutter) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 4616- Adjustable Interest Rate (LIBOR) Act of 2021 (Sherman) H.R. 4618- Short Sale Transparency and Market Fairness Act (Waters) H.R. 5598- Access to Small Business Investor Capital Act (Sherman) H.R. 6285- Accelerating Holding Foreign Companies Accountable Act (Sherman) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 910- Secure and Fair Enforcement Banking Act of 2021 (Merkley) S. 1605- National Defense Authorization Act for Fiscal Year 2022 S. 2184- Accelerating Holding Foreign Companies Accountable Act (Kennedy) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) Improving Disclosure for Investors Act Processing fees for delivering investment materials Adjustable Interest Rate (LIBOR) Act (Senate draft) Consolidated Audit Trail SEC Cybersecurity and Data Protection Diverse Investment Advisers Act (House draft) Diversity and Inclusion in the Asset Management Industry Enhanced ESG Disclosure SEC's proposed money market fund reforms Shorten US securities settlement cycle to trade date plus one day Stablecoins

Client expense: $840,000 · Firm income: Not reported

Financial Stability Issues Hart Scott Rodino Rule Proposals Exchange Traded Products Increasing Investor Opportunities Act, HR 4262 Climate Risk ESG Disclosure Rule 15c2-11

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

Government targets: Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Federal Reserve Supervision of Savings and Loan Holding Companies Asset Manager SIFI Designation FDIC Treatment of Brokered Deposits Section 11 of the Home Owners Loan Act Proxy Advisory Firms/Corporate Governance Data Privacy Legislation Reg BI ESG Disclosure Simplification Act of 2021 (H.R. 1187) Housing Finance Reform Diversity and Inclusion CARES ACT American Rescue Plan (H.R. 1319) Paycheck Protection Program ESG Investing Form 13F E-SIGN Modernization Warehouse Lending Climate Change Closed End Funds Renewable Fuel Standard/Biofuels Increasing Investor Opportunities Act (H.R. 4262) Build Back Better Act LIBOR Sustainable Finance

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

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

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act

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

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

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act

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

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

Activist hedge funds and closed end funds Investor protection H.R.4262 - Increasing Investor Opportunities Act

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

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

Asset management; depository institution issues; issues related to climate change; H.R. 4262, Increasing Investor Opportunities Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Federal Reserve Supervision of Savings and Loan Holding Companies Asset Manager SIFI Designation FDIC Treatment of Brokered Deposits Section 11 of the Home Owners Loan Act Proxy Advisory Firms/Corporate Governance Data Privacy Legislation Reg BI ESG Disclosure Simplification Act of 2021 (H.R. 1187) Housing Finance Reform Diversity and Inclusion CARES ACT American Rescue Plan (H.R. 1319) Paycheck Protection Program ESG Investing Form 13F E-SIGN Modernization Warehouse Lending Climate Change Closed End Funds Renewable Fuel Standard/Biofuels Increasing Investor Opportunities Act (H.R. 4262) Build Back Better Act

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

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

H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1187- Corporate Governance Improvement and Investor Protection Act H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 1996- Secure and Fair Enforcement Banking Act of 2021 (Perlmutter) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 2570- Climate Risk Disclosure Act of 2021 (Casten) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 4616- Adjustable Interest Rate (LIBOR) Act of 2021 (Sherman) H.R. 4618- Short Sale Transparency and Market Fairness Act (Waters) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 910- Secure and Fair Enforcement Banking Act of 2021 (Merkley) S. 2184- Accelerating Holding Foreign Companies Accountable Act (Kennedy) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) Improving Disclosure for Investors Act of 2021 Processing fees for delivering investment materials Consolidated Audit Trail SEC Cybersecurity and Data Protection Diverse Investment Advisers Act Enhanced ESG Disclosure by Corporate Issuers

Client expense: $1,720,000 · Firm income: Not reported

Asset management; depository institution issues; issues related to climate change; H.R. 4262, Increasing Investor Opportunities Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE