Improving Disclosure for Investors Act of 2022

Equity market structure and trading regulation; systemic risk legislation; systemic risk regulation; e-delivery, including relevant provisions of H.R. 9570, the Improving Disclosure for Investors Act of 2022; digital assets; remote notarization, including relevant provisions of H.R. 3962, the Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2022; Environmental, Social, and Governance (ESG) legislation/regulation; fixed income market structure; remote inspections; regulatory relief related to COVID; H.R. 1996 and S. 910, the SAFE Banking Act, safe harbor provisions; money market fund regulation; data aggregation; licensing and supervision for remote work

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

Government targets: Commodity Futures Trading Commission (CFTC), Consumer Financial Protection Bureau (CFPB), 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. 7151- Ensuring Sound Guidance Act (Barr) H.R. 8521- INvestor Democracy is EXpected (INDEX) Act (Huizenga) H.R. 9089- Consumer Financial Choice and Capital Markets Protection Act of 2022 (Williams) H.R. 9408- Mandatory Materiality Requirement Act of 2022 (Huizenga) H.R. 9526- Review the Expansion of Government Act (Kim) H.R. 9527- Putting Investors First Act of 2022 (Steil) H.R. 9570- Improving Disclosure for Investors Act of 2022 (Huizenga) 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. 3948- Increasing Investor Opportunities Act (Daines) S. 4241- INvestor Democracy is EXpected (INDEX) Act (Sullivan) S. 5004- Alleviating Stress Test Burdents to Help Investors Act (Rounds) S. 5005- Mandatory Materiality Requirement Act of 2022 (Rounds) Diverse Investment Advisers Act (draft) Diversity and Inclusion in the Asset Management Industry Processing fees for delivering investment materials 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 SEC open-end fund liquidity rule, swing pricing, and hard close proposal SEC outsourcing by investment advisers proposal

ISSUEDiversity, Equity, and Inclusion Initiatives ISSUEPaid Medical and Family Leave ISSUENational Data Privacy Standard ISSUESystemic Risk/Capital Standards PL 111-203, Dodd-Frank Wall Street Reform and Consumer Protection Act - provide financial regulatory reform, to protect consumers and investors, to enhance federal understanding of insurance issues, and other purposes. ISSUEAutonomous Vehicles ISSUE Federal Pandemic Risk Programs ISSUE Insurance Underwriting HR 842/S 420, Protecting the Right to Organize (PRO) Act - amend the National Labor Relations Act, the Labor Management Relations Act, 1947, and the Labor-Management Reporting and Disclosure Act of 1959, and for other purposes. HR 528, Financial Stability Oversight Council (FSOC) Reform Act - place FSOC and the Office of Financial Research under the regular appropriations process and to provide for certain quarterly reporting and public notice and comment requirements for the Office of Financial Research. HR 1523/S 526, Modern Worker Empowerment Act - to amend the Fair Labor Standards Act of 1938 to harmonize the definition of employee with the common law. HR 5, Equality Act - prohibits discrimination based on sex, sexual orientation, and gender identity in areas including public accommodations and facilities, education, federal funding, employment, housing, credit, and the jury system. HR 1277/S 374, Improving Corporate Governance Through Diversity Act - prohibits an automobile insurer from considering specified factors when determining a consumer's insurance rates or eligibility. HR 1270, PAID Act - prohibits an automobile insurer from considering specified factors when determining a consumer's insurance rates or eligibility. HR 1255/S 377, Living Donor Protection Act - promote and protect from discrimination living organ do HR 1816, Information Transparency & Personal Data Control Act - require the Federal Trade Commission to promulgate regulations related to sensitive personal information, and for other purposes. HR 1512, CLEAN Future Act - build a clean future by addressing the climate crisis, protecting the health, and putting the Nation on the path to a net-zero greenhouse gas economy by 2050. S 524, Federal Insurance Abolishment Act - to eliminate the Federal Insurance Office. HR 1549/S 588, Addressing Climate Financial Risk Act - establish the Advisory Committee on Climate Risk on the Financial Stability Oversight Council. HR 1641/S 638, Promoting Infrastructure by Protecting Our Subcontractors and Taxpayers Act - to include a payment and performance security requirement for certain infrastructure financing. HR 1187, ESG Disclosure Simplification Act of 2021 - requires an issuer of securities to annually disclose to shareholders certain environmental, social, and governance metrics. S 653, Coordination of Medicare Payments and Workers Compensation (COMP) Act - provide for the application of MSP rules to certain workers' compensation settlement agreements and qualified Medicare set-aside provisions. HR 2068/S 862, CLAIM Act - safe harbor for insurers engaging in the business of insurance in connection with a cannabis-related legitimate business. HR 1996/S 910, SAFE Banking Act - create protections for financial institutions that provide financial services to cannabis-related legitimate businesses S 574, PROTECT Asbestos Victims Act - improve asbestos trust claim transparency. S 840, Litigation Funding Transparency Act - increase transparency and oversight of third-party litigation funding. HR 358, FRESH Trucking Act - modifies service hour requirements for drivers transporting perishable agricultural, horticultural, or floricultural commodities. HR 1799, PPP Extension Act of 2021 - extend deadlines for the Paycheck Protection Program. HR 2467 PFAS Action Act of 2021 -- require EPA to designate per- and polyfluoroalkyl substances as hazardous substances HR 2570/S 1217 Climate Risk Disclosure Act of 2021 -- directs SEC to require issuers to disclose information regarding climate change-related risks. HR 2001 Diversity Data Accountability Act - requires regulated entities to report to the Offices of Women and Minority Inclusion within specified financial agencies. HR 1087 Shareholder Political Transparency Act -- requires disclosure of information related to expenditures for political activities HR 3099 Primary Regulators of Insurance Vote Act -- To include the State insurance commissioner as a voting member of the FSOC. HR 3962/S 1625 SECURE Notarization Act -- To authorize notaries public to perform, and to establish minimum standards for, electronic notarizations and remote notarizations S 1805SHELTER Act -- allows a tax credit to individuals and businesses for disaster mitigation expenditures. S 1896Algorithmic Justice and Online Platform Transparency Act -- To prohibit the discriminatory use of personal information by online platforms in any algorithmic process HR 3571/S 1876 Climate Change Financial Risk Act of 2021 -- To require the Fed to develop and conduct financial risk analyses relating to climate change, and for other purposes. HR 3664 SMART Act -- to provide for an exception from patent infringement for certain component parts of motor vehicles. HR 3676 To amend title 23, United States Code, to establish national standards relating to sanctions for individuals who drive a motor vehicle, with a child passenger in the vehicle, while intoxicated or impaired, and for other purposes. HR 3711 SELF DRIVE Act -- to provide safety measures for over highly automated vehicles HR 1187 Corporate Governance Improvement and Investor Protection Act - to require annual disclosure of certain ESG metrics. HR 3675 Drug-Impaired Driving Education Act -- To establish a grant program to educate the public on the dangers of drug-impaired driving, and for other purposes. HR 3757/S 1999 Multiple Substance Impaired Driving Prevention Act -- To authorize the use of certain Federal funds for multiple substance impaired driving countermeasures HR 3899 Financial Stability Oversight Council Improvement Act of 2021 -- To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes. DRAFT Consumer Information Notification Requirement Act -- to provide a national standard for financial institution data security and breach notification. S 919 Data Care Act of 2021 -- imposes various duties on online service providers with respect to their handling of individual-identifying data 4614 Resilient Federal Forests Act of 2021 - improve forest management activities on National Forest System lands HR 4866 Federal Insurance Office Elimination Act - to abolish FIO HR 5823, Pandemic Risk Insurance Act (PRIA) 2022 - establish a Pandemic Risk Reinsurance Program HR 5736, Booster Seat Safety Act - direct the Secretary of Transportation to revise regulations relating to child restraint systems HR 5807/S 3065, DATA Privacy Act - establishes information security requirements for businesses that collect, process, store, or disclose information HR 963, Forced Arbitration Injustice Repeal Act - prohibits a pre-dispute arbitration agreement from being valid or enforceable if it requires arbitration of an employment, consumer, antitrust, or civil rights dispute HR 5734, Catastrophic Risk Transfer (CART) Act - to establish a system for the taxation of catastrophic risk transfer companies to ensure sufficient capital to cover catastrophic insurance losses HR 5689, Resilient AMERICA Act - improve the provision of Federal resources to help build capacity and fund risk-reducing, cost-effective mitigation projects HR 4006 Fair Repair Act -- requires an original equipment manufacturer (OEM) to make diagnostic, maintenance, and repair equipment available to independent repair providers HR 6580/S 3572 Algorithmic Accountability Act of 2022 -- direct the Federal Trade Commission to require impact assessments of automated decision systems and augmented critical decision processes HR 6570 REPAIR Act -- ensure consumers have access to data relating to their motor vehicles, critical repair information, and tools, and to provide them choices for the maintenance, service, and repair of their motor vehicles HR 4521 America COMPETES Act -- bill addresses U.S. technology and communications, foreign relations and national security, domestic manufacturing, education, trade, and other matters HR 4777/S 2497 Nondebtor Release Prohibition Act -- addresses the release by bankruptcy courts of creditor or other third-party claims against non-debtors S 3844Economic Continuity and Stability Act -- establish a clear and uniform process, on a nationwide basis, for replacing the London interbank offered rate in existing contracts S 3715E-SIGN Modernization Act -- repeals certain requirements regarding the use of electronic records in commerce S 3755Arbitration Fairness for Consumers Act -- amend the Consumer Financial Protection Act of 2010 with respect to arbitration HR 6027 Online Privacy Act -- establishes certain online privacy rights for personal information (including contents of communications) and certain requirements for data processors, service providers, and third parties S 3875, Community Disaster Resilience Zones Act -- require the President to develop and maintain products that show the risk of natural hazards across the United States DRAFT, Jumpstart our Business Startups Act of 2022 -- help accelerate economic growth and spur new business formation S 4110, Primary Regulators of Insurance Vote Act of 2022 -- establishes a state insurance commissioner as a voting member of the Financial Stability Oversight Council S 4299, Rebuilding Small Businesses After Disasters Act -- to repeal the sunset for collateral requirements for Small Business Administration disaster loans S 4274, National Wildland Fire Risk Reduction Program Act -- improve the Federal effort to reduce wildland fire risks ISSUE, SEC 144A/Rule 15c2-11 No Action Letter ISSUE, ESG, DEI, Climate-Related Financial Risk HR 8152, American Data Privacy and Protection Act - to create a federal privacy standard DRAFT, Rep. McHenry/Financial Services Privacy Draft - to amend GLBA HR 8063, RAMP Act - to improve MSP statute by eliminating the private right of action HR 8254 Financial Services and General Government Appropriations Act, 2023 - FY2023 appropriations for several federal departments and agencies HR 7900 National Defense Authorization Act for Fiscal Year 2023 - authorizes Department of Defense (DOD) activities for FY2023 HR 4346 CHIPS and Science Act of 2022 - funds to support the domestic production of semiconductors and authorizes various programs and activities of the federal science agencies. S 4619 Fair Access to Financial Services Act - provide that all persons shall be entitled to the full and equal enjoyment of the goods, services, facilities, privileges, and accommodations of financial institutions HR 8589 To prohibit the Securities and Exchange Commission from finalizing the proposed rule titled "The Enhancement and Standardization of Climate-Related Disclosures for Investors", and for other purposes - prevent finalization of SEC climate-risk disclosure rule HR 2123 D&I DATA Act - requires certain regulated entities to report to the Offices of Women and Minority Inclusion within specified financial agencies ISSUE SEC Rule 144A/15c2-11 HR 8483 Wildfire Insurance Coverage Study Act of 2022 - require studies regarding insurance coverage for damages from wildfires DRAFT Diverse Investment Advisers Act - require companies to consider diverse individual-owned and controlled firms when seeking the services of investment advisers DRAFT Minority and Women Inclusion in Insurance Act - require FIO to conduct an annual survey of insurers to determine the extent of diversity in the insurance industry DRAFT Diversify Insurers Workforce Study Act - require FIO to conduct a study regarding recruitment, retention, and attrition of employees in the insurance industry S 4826 Community Wildfire Protection Act- amend the Heathy Forests Restoration Act of 2003 to modify the definition of the term at-risk community HR 9570 Improving Disclosure for Investors Act of 2022 - direct the Securities and Exchange Commission to promulgate rules with respect to the electronic delivery of certain required disclosures HR 7776 James M. Inhofe National Defense Authorization Act for Fiscal year 2023 - National defense authorization for FY 23 HR 9588 Consumer Information Notification Requirement Act (CINRA) - amend the Gramm-Leach-Bliley Act to provide a national standard for financial institution data security and breach notification on behalf of all consumers