Putting Investors First Act of 2023

H.R. 145, Risk Disclosure and Investor Attestation Act H.R. 654, Taking Account of Bureaucrats Spending (TABS) Act of 2025 H.R. 1013/S. 424, Retirement Fairness for Charities and Educational Institutions Act of 2025 H.R. 1109, Litigation Transparency Act of 2025 H.R. 1190/S. 577, Expanding Access to Capital for Rural Job Creators Act H.R. 1827/S. 847, Child Care Availability and Affordability Act H.R. 1900, Bank Failure Prevention Act of 2025 H.R. 2225/S. 1808, Access to Small Business Investor Capital Act H.R. 2441/S. 1877, the Improving Disclosure for Investors Act of 2025 H.R. 2675, Protecting Our Courts From Foreign Manipulation Act of 2025 H.R. 2702/S. 875, Financial Integrity and Regulation Management (FIRM) Act H.R. 3230, Financial Institution Regulatory Tailoring Enhancement Act H.R. 3301, ELEVATE Act of 2025 H.R. 3323, Helping Startups Continue to Grow Act H.R. 3339, Equal Opportunity for Investors Act of 2025 H.R. 3343, Greenlighting Growth Act of 2025 H.R. 3348, Accredited Investor Definition Review Act H.R. 3351, Improving Access to Small Business Information Act H.R. 3352, HALOS Act of 2025 H.R. 3357, Enhancing Multi-Class Share Disclosures Act H.R. 3379, HUMPS Act of 2025 H.R. 3380, TAILOR Act of 2025 H.R. 3381, Encouraging Public Offerings Act of 2025 H.R. 3382, Small Entity Update Act H.R. 3383, Increasing Investor Opportunities Act H.R. 3390, Bringing the Discount Window into the 21st Century Act H.R. 3394, Fair Investment Opportunities for Professional Experts Act H.R. 3395, Middle Market IPO Cost Act H.R. 3422, Promoting Opportunities for Non-Traditional Capital Formation Act H.R. 3446, The FDIC Board Accountability Act H.R. 3645, ACCESS Act of 2025 H.R. 3672, Securities Research Modernization Act H.R. 3673, Small Business Investor Capital Access Act H.R. 3682, Financial Stability Oversight Council Improvement Act of 2025 H.R. 3959, Protecting Private Job Creators Act H.R. 4429, Developing and Empowering Our Aspiring Leaders (DEAL) Act H.R. 4430, Expanding WKSI Eligibility Act H.R. 4431, Improving Capital Formation for Newcomers (ICAN) Act H.R. 4429, Developing and Empowering Our Aspiring Leaders (DEAL) Act H.R. 4437, Supervisory Modifications for Appropriate Risk-based Testing (SMART) Act of 2025 H.R. 4478, Tailored Regulatory Updates for Supervisory Testing (TRUST) Act of 2025 H.R. 5291/S. 2663, Merchant Banking Modernization Act S. 985, PROTECT USA Act S. 1605, International Competition for American Jobs Act H.J. Res. 74/S.J. Res. 36, A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V)" Potential legislation similar to H.R. 448, Putting Investors First Act Potential legislation similar to H.R. 2590, Unlocking Capital for Small Business Act of 2023 Potential legislation similar to H.R. 2607, Improving Crowdfunding Opportunities Act, 2023 Potential legislation similar to H.R. 2609, Small Entrepreneur Empowerment and Development Act of 2023 Potential legislation similar to H.R. 2622, to amend the Investment Advisers Act of 1940 to codify certain Securities and Exchange Commission no-action letters that exclude brokers and dealers compensated for certain research services from the definition of investment adviser Potential legislation similar to H.R. 2651, Regulation A+ Improvement Act of 2023 Potential legislation similar to H.R. 2790, the Improving Capital Allocation for Newcomers Act of 2021 Potential legislation similar to H.R. 2799, the Investment Opportunity Expansion Act, 2023 Potential legislation similar to H.R. 4168/S. 2005, Mandatory Materiality Act Potential legislation similar to H.R. 5488/S. 2805, Protecting Our Courts from Foreign Manipulation Act of 2023 Potential legislation similar to H.R. 6623/S. 2068, Main Street Growth Act Potential legislation to repeal the SECs Universal Proxy Rule of 2021 Potential legislation to amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal certain rulemaking requirements SEC Proposed Rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors (87 Fed. Reg. 21,334-21,473, April 11, 2022) Proposed Rule, Consumer Financial Protection Bureau; Protecting Americans from Harmful Data Broker Practices (Regulation V) (89 Fed. Reg. 101,402, December 13, 2024) Various issues relating to SEC Best Interest and Enhancing Investment Adviser Regulation relating to broker-dealers, registered investment advisers, conflicts of interest; potential federal preemption of state fiduciary standards; CFTCs de minimis Exception for Swap Dealers; Securities and Exchange Commission amendments to the Commissioners whistleblower rules file no. S7-16-18; proxy process, proxy advisory firms, and other related aspects of corporate governance; corporate common ownership; adoption of the current expected credit loss (CECL) accounting standard; role of credit reporting agencies (CRAs) in the U.S. economy; debt collection practices (regulation F) under the Fair Debt Collection Practices Act (P.L. 95-109); qualified mortgage definition under the Truth in Lending Act (P.L. 90-321) (Regulation Z); Financial Stability Oversight Council activities, including the approach to and designation of systemic importance and risk of nonbank financial companies and firms; Federal Reserve Systems Large Institution Supervision Coordinating Committee; potential housing finance reform legislation; enforcement of Securities and Exchange Commission penalties; federal interest rate authority; Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) reform; electronic consent-based SSN Verification Service (eCBSV); environmental, social, and governance (ESG) enforcement; information collection under the Community Reinvestment Act (CRA) (P.L. 95-128); potential Financial Transaction Tax (FTT); potential Treasury Department proposal relating to tax reporting by banks; investment company cross trading; potential money market fund reform measures; transition to the secured overnight financing rate; implementation of SEC Rule 15c2-11; Department of Labor fiduciary advice exemption: PTE 2020-02; modernization of the Credit Repair Organizations Act (enacted as Title IV of the Consumer Credit Protection Act, P.L. 90-321); Internal Revenue Service Priority Guidance Plan; Financial Accounting Standards Board improvements to income tax disclosures; Climate-Related Financial Risk Management for Large Banks; Consumer Financial Protection Bureau (CFPB) regulatory sandbox for disclosures; CFPB Policy Fellowship program; CFPB amendment of its Supervision and Examination Manual; CFPB conflation of Distinct Statutory Concepts of Unfairness and Discrimination; CFPB Small Business Advisory Review Panels Rulemaking on Personal Financial Data Rights; CFPB implementation of the Small Business Lending Data Collection Rule (the 1071 Rule); SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (File Number S7-26-22); Federal Deposit Insurance Corporation Proposal on Corporate Governance and Risk Management; Basel III Endgame Rule; FDIC Monitoring of Investment Funds Passivity Agreements; issues related to the Export-Import Bank of the United States; European Unions (EU) Corporate Sustainability Due Diligence Directive (CSDDD); Consumer Financial Protection Circular 2024-05, Improper Overdraft Opt-In Practices; Executive Order 14036, Promoting Competition in the American Economy; recommendations for Securities and Exchange Commission regulatory agenda; Reforming SEC Rule 14a-8; FSOC restoration of 2019 Guidance governing the designation of nonbank financial institutions; reauthorization of the U.S. International Development Finance Corporation; implementation of the One Big Beautiful Bill Act, (P.L. 119-21); implementation of Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions" (P.L. No: 119-10); implementation of a joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications" (P.L. No: 119-11); proxy process and shareholder proposal system overseen by SEC; FSOC Nonbank Guidance - request to restore the 2019 Guidance (July 14, 2025, letter to Treasury); reporting metrics of American companies under the EUs Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive; index fund passivity; reform to the function of the Public Company Accounting Oversight Board; rulemaking regarding corporate exemptions for shareholder proposals under SEC Rule 14a-8; rulemaking regarding reform to the proxy voting advice industry at the SEC; request for comment from SEC on potential revisions to executive compensation disclosure; request for comment from SEC on potential revisions to definition of Foreign Private Issuer; SEC Compliance and Disclosure Interpretations: Regulation 13D-G (February 11, 2025); potential policy affirming materiality as the standard for corporate disclosure at the SEC; Executive Order 14330, Democratizing Access to Alternative Assets for 401(K) Investors; SEC Staff Review ADI 2025-16 on Registered Closed-End Funds of Private Funds (August 15, 2025); acquired fund fees and expenses mandate under Rule 12d1-4 (impact of AFFE on BDCs and inclusion of alternative assets in 401(K)s); oversight issues and potential legislation on third party litigation funding, including its national security implications

Client expense: $13,650,000 · Firm income: Not reported

Government targets: Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 1, One Big Beautiful Bill Act H.R. 145, Risk Disclosure and Investor Attestation Act H.R. 654, Taking Account of Bureaucrats Spending (TABS) Act of 2025 H.R. 1013, Retirement Fairness for Charities and Educational Institutions Act of 2025 H.R. 1109, Litigation Transparency Act of 2025 H.R. 1190, Expanding Access to Capital for Rural Job Creators Act H.R. 1827/S. 847, Child Care Availability and Affordability Act H.R. 1900, Bank Failure Prevention Act of 2025 H.R. 2225, Access to Small Business Investor Capital Act H.R. 2441/S. 1877, the Improving Disclosures for Investors Act of 2025 H.R. 2675 Protecting Our Courts From Foreign Manipulation Act of 2025 H.R. 2702/S. 875, Financial Integrity and Regulation Management (FIRM) Act H.R. 3230, Financial Institution Regulatory Tailoring Enhancement Act H.R. 3301, ELEVATE Act of 2025 H.R. 3323, Helping Startups Continue to Grow Act H.R. 3339, Equal Opportunity for Investors Act of 2025 H.R. 3343, Greenlighting Growth Act of 2025 H.R. 3348, Accredited Investor Definition Review Act H.R. 3351, Improving Access to Small Business Information Act H.R. 3352, HALOS Act of 2025 H.R. 3357, Enhancing Multi-Class Share Disclosures Act H.R. 3379, HUMPS Act of 2025 H.R. 3380, TAILOR Act of 2025 H.R. 3381, Encouraging Public Offerings Act of 2025 H.R. 3382, Small Entity Update Act H.R. 3383, Increasing Investor Opportunities Act H.R. 3394, Fair Investment Opportunities for Professional Experts Act H.R. 3395, Middle Market IPO Underwriting Cost Act H.R. 3422, Promoting Opportunities for Non-Traditional Capital Formation Act H.R. 3645, ACCESS Act of 2025 H.R. 3672, Securities Research Modernization Act H.R. 3673, Small Business Investor Capital Access Act H.R. 3682, Financial Stability Oversight Council Improvement Act of 2025 H.R. 3959, Protecting Private Job Creators Act S. 985, PROTECT USA Act S. 1605, International Competition for American Jobs Act H.J.Res. 59/S.J.Res. 18, Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions" S.J.Res. 28, A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications" Potential legislation to use the Congressional Review Act to overturn a Consumer Financial Protection Bureau (CFPB) rule that removes medical debt from credit reports Potential legislation similar to H.R. 448, Putting Investors First Act Potential legislation similar to H.R. 2025/S. 840, Litigation Funding Transparency Act Potential legislation similar to H.R. 2579, the Developing and Empowering our Aspiring Leaders Act of 2023 Potential legislation similar to H.R. 2590, Unlocking Capital for Small Business Act of 2023 Potential legislation similar to H.R. 2607, Improving Crowdfunding Opportunities Act, 2023 Potential legislation similar to H.R. 2609, Small Entrepreneur Empowerment and Development Act of 2023 Potential legislation similar to H.R. 2651, Regulation A+ Improvement Act of 2023 Potential legislation similar to H.R. 2622, to amend the Investment Advisers Act of 1940 to codify certain Securities and Exchange Commission no-action letters that exclude brokers and dealers compensated for certain research services from the definition of investment adviser Potential legislation similar to H.R. 2799, the Investment Opportunity Expansion Act, 2023 Potential legislation similar to H.R. 2790, the Improving Capital Allocation for Newcomers Act of 2021 Potential legislation similar to H.R. 4168/S. 2005, Mandatory Materiality Act Potential legislation similar to H.R. 5488/S. 2805, Protecting Our Courts from Foreign Manipulation Act of 2023 Potential legislation similar to H.R. 6623/S. 2068, Main Street Growth Act Potential legislation similar to H.R. 9924, Litigation Transparency Act of 2024 Potential legislation to repeal the SECs Universal Proxy Rule of 2021 Potential legislation to expand Well Known Seasoned Issuer eligibility Potential legislation to amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal certain rulemaking requirements Nomination of Jonathan Gould to be the Comptroller of the Currency (OCC) Nomination of Michelle Bowman as Vice Chair of Supervision for the Federal Reserve Board of Governors Nomination of Paul Atkins to be Chairman of the Securities and Exchange Commission (SEC) SEC Proposed Rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors (87 Fed. Reg. 21,334-21,473, April 11, 2022) Final Rule, Securities Exchange Commission, on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure (88 Fed. Reg. 51,896-51,945, September 5, 2023) Proposed Rule, Consumer Financial Protection Bureau; Protecting Americans from Harmful Data Broker Practices (Regulation V) (89 Fed. Reg. 101,402, December 13, 2024) Various issues relating to SEC Best Interest and Enhancing Investment Adviser Regulation relating to broker-dealers, registered investment advisers, conflicts of interest; potential federal preemption of state fiduciary standards; CFTCs de minimis Exception for Swap Dealers; Securities and Exchange Commission amendments to the Commissioners whistleblower rules file no. S7-16-18; proxy process, proxy advisory firms, and other related aspects of corporate governance; corporate common ownership; adoption of the current expected credit loss (CECL) accounting standard; role of credit reporting agencies (CRAs) in the U.S. economy; debt collection practices (regulation F) under the Fair Debt Collection Practices Act (P.L. 95-109); qualified mortgage definition under the Truth in Lending Act (P.L. 90-321) (Regulation Z); Financial Stability Oversight Council activities, including the approach to and designation of systemic importance and risk of nonbank financial companies and firms; Federal Reserve Systems Large Institution Supervision Coordinating Committee; potential housing finance reform legislation; enforcement of Securities and Exchange Commission penalties; federal interest rate authority; Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) reform; electronic consent-based SSN Verification Service (eCBSV); environmental, social, and governance (ESG) enforcement; information collection under the Community Reinvestment Act (CRA) (P.L. 95-128); potential Financial Transaction Tax (FTT); potential Treasury Department proposal relating to tax reporting by banks; investment company cross trading; potential money market fund reform measures; transition to the secured overnight financing rate; implementation of SEC Rule 15c2-11; Department of Labor fiduciary advice exemption: PTE 2020-02; benefits of risk-based pricing; mobile disclosures; modernization of the Credit Repair Organizations Act (enacted as Title IV of the Consumer Credit Protection Act, P.L. 90-321); Internal Revenue Service Priority Guidance Plan; Financial Accounting Standards Board improvements to income tax disclosures; Climate-Related Financial Risk Management for Large Banks; Consumer Financial Protection Bureau (CFPB) regulatory sandbox for disclosures; CFPB Policy Fellowship program; CFPB amendment of its Supervision and Examination Manual; CFPB conflation of Distinct Statutory Concepts of Unfairness and Discrimination; CFPB Small Business Advisory Review Panels Rulemaking on Personal Financial Data Rights; CFPB implementation of the Small Business Lending Data Collection Rule (the 1071 Rule); SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (File Number S7-26-22); Federal Deposit Insurance Corporation Proposal on Corporate Governance and Risk Management; Basel III Endgame Rule; FDIC Monitoring of Investment Funds Passivity Agreements; issues related to the Export-Import Bank of the United States; European Unions (EU) Corporate Sustainability Due Diligence Directive (CSDDD); Consumer Financial Protection Circular 2024-05, Improper Overdraft Opt-In Practices; Executive Order 14036, Promoting Competition in the American Economy; recommendations for Securities and Exchange Commission regulatory agenda; EU sustainable finance action plan and incorporating ESG factors into financial services; reporting metrics of American companies under the EUs Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive; reform to the function of the Public Company Accounting Oversight Board; rulemaking regarding corporate exemptions for shareholder proposals under SEC Rule 14a-8; index fund passivity; rulemaking regarding reform to the proxy voting advice industry at the SEC; request for comment from SEC on potential revisions to executive compensation disclosure; request for comment from SEC on potential revisions to definition of Foreign Private Issuer; SEC Compliance and Disclosure Interpretations: Regulation 13D-G (February 11, 2025); potential policy affirming materiality as the standard for corporate disclosure at the SEC; draft report language proposed for Appropriations FSGG to direct the SEC to update regulations to promote e-delivery of information to investors; draft report language proposed for Appropriations FSGG to restore the 2019 Guidance regarding the designation of nonbank financial firms as systemically important institutions; oversight issues and potential legislation on third party litigation funding, including its national security implications

Client expense: $19,340,000 · Firm income: Not reported

Government targets: Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Justice, Dept of (DOJ), Labor, Dept of (DOL), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 448 Proxy Advisory Firms **Issues lobbied without specific bill number: Climate Change Disclosures S. 1799 Proxy Advisory Firms H.R. 4589 Proxy Advisor Registration H.R. 4590 Proxy Advisor Firms H.R. 4628 Proxy Advisor Disclosure H.R. 4640 Proxy Advisor Disclosure H.R. 4641 Shareholder Proposals H.R. 4645 Proxy Voting H.R. 4662 Proxy Advisor Firm Study H.R. 4767 Proxy Advisor Firms H.R. 4790 Financial Disclosure H.R. 4655 Shareholder Proposals S. 3179 Shareholder Proposals H.R. 7030 Securities and Exchange Commission Rulemaking H.R. 10020 Shareholder Proposals

Client expense: $1,140,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Banking Policy Impacting Emerging Companies Capital Formation Incentives ---H.R.368: American Innovation Act of 2023 ---H.R.448: Putting Investors First Act of 2023 ---H.R.835: Fair Investment Opportunities for Professional Experts Act ---H.R.1579: Accredited Investor Definition Review Act ---H.R.2608: To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes. ---H.R.2610: To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. ---H.R.2624: Helping Startups Continue to Grow Act ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.2792: Small Entity Update Act ---H.R.2797: Equal Opportunity for All Investors Act of 2023 ---H.R.2799: Expanding Access to Capital Act of 2023 ---H.R.7515: Infectious Disease Therapies Research and Innovation Act ---S.866: American Innovation and Jobs Act ---H.R.9562 Adjusting the well known seasoned issuers definition to allow for a larger financing round using ---Net Operating Loss Advance Refunds Capital Market Enhancements ---Accredited Investor Definition ---Amended Definition of Smaller Reporting Company ---Market Liquidity Proposals ---Public Float Threshold Update ---SEC Small Business Forum Small Business Innovation Research (SBIR) Program ---Reauthorization of SBIR and STTR ---Implementation of the SBIR and STTR Extension Act of 2022

Client expense: $1,460,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Natl Institutes of Health (NIH), SENATE, Securities & Exchange Commission (SEC)

H.R. 448, Putting Investors First Act of 2023 H.R. 758, Promoting Access to Capital in Underbanked Communities Act of 2023 H.R. 835, Fair Investment Opportunities for Professional Experts Act H.R. 1010/S. 453, Prohibiting IRS Financial Surveillance Act H.R. 1410, Consumer Financial Protection Commission Act H.R. 1548, Improving Access to Small Business Information Act H.R. 1553, Helping Angels Lead our Startups (HALOS) Act H.R. 1579, Accredited Investor Definition Review Act H.R. 1807/S 3815, Improving Disclosures for Investors Act H.R. 2608, To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes H.R. 2610, To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes H.R. 2612, Gig Worker Equity Compensation Act H.R. 2627, Increasing Investor Opportunities Act H.R. 2652, Investment Opportunity Expansion Act H.R. 2792, Small Entity Update Act H.R. 2793, Encouraging Public Offerings Act of 2023 H.R. 2795, Enhancing Multi-Class Share Disclosures Act H.R. 2796, Promoting Opportunities for Non-Traditional Capital Formation Act H.R. 2797, Equal Opportunity for All Investors Act H.R. 2798, CFPB Transparency and Accountability Reform Act H.R. 2799/S. 3815, Expanding Access to Capital Act of 2023 H.R. 2812, Middle Market IPO Underwriting Cost Act H.R. 3063/S. 4917, Retirement Fairness for Charities and Educational Institutions Act H.R. 3161, CDFI Fund Transparency Act H.R. 4035, Protecting Small Business Information Act of 2023 H.R. 4168/S. 2005, Mandatory Materiality Requirement Act of 2023 H.R. 4177/S. 2007, Improving Corporate Governance Through Diversity Act of 2023 H.R. 4366, Consolidated Appropriations Act, 2024, including provisions related to Senate Amendments 1092 and 1217 H.R. 4664/S. 2309, Making appropriations for financial services and general government for the fiscal year ending September 30, 2024, and for other purposes H.R. 4790, Prioritizing Economic Growth Over Woke Policies Act H.R. 4823, American Financial Institution Regulator Sovereignty and Transparency Act H.R. 5488/S. 2805, Protecting Our Courts from Foreign Manipulation Act of 2023 H.R. 7000/S. 3592, Business of Insurance Regulatory Reform Act of 2024 H.R. 7092/S. 3676, Protecting Private Job Creators Act H.R. 7470/S.3823, Secure U.S. Leadership in Space Act of 2024 H.R. 8337, Bank Resilience and Regulatory Improvement Act H.R. 8338, Clarity in Lending Act H.R. 8339, SEC Reform and Restructuring Act H.R. 8773, Financial Services and General Government Appropriations Act, 2025 H.R. 9512, Congressional Banking Regulation Priorities and Accountability Act of 2024 H.R. 9922, Litigation Transparency Act of 2024 S. 638, Disclosure of Tax Havens and Offshoring Act S. 3541, Fair Audits and Inspections for Regulators Exams Act S. 5139, Empowering Main Street in America Act of 2024 S. 5254, Child Care for American Families Act H.J.Res. 100/S.J.Res. 50, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure" H.J.Res. 120, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Financial Stability Oversight Council related to "Guidance on Nonbank Financial Company Determinations" H.J.Res. 122/H.J.Res. 121/S.J.Res. 70, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)" H.J.Res. 201, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders" SEC Proposed Rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors (87 Fed. Reg. 21,334-21,473, April 11, 2022) Proposed Rule, Securities and Exchange Commission; Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (87 Fed. Reg. 77,172-77,296, December 16, 2022) Proposed Rule, Public Company Accounting Oversight Board; Amendments to Reporting Requirements for Registered Firms (PCAOB Release No. 2024-003, April 9, 2024; PCAOB Rulemaking Docket Matter No. 055) Proposed Rule, Public Company Accounting Oversight Board; Amendments to Firm and Engagement Metrics (PCAOB Release No. 2024-002, April 9, 2024; PCAOB Rulemaking Docket Matter No. 041) Adopting Order of the Securities and Exchange Commission: Public Company Accounting Oversight Board Amendments to QC 1000, A Firms System of Quality Control and Related Amendments to PCAOB Standards, Rules, and Forms (SEC Release No. 34-100968; PCAOB File No. PCAOB-2024-002) Request for Information, U.S. Treasury, Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector (TREAS-DO-2024-0011, June 12, 2024) Request for Comment, Commodity Futures Trading Commission (CFTC), The Use of Artificial Intelligence (AI) in CFTC-regulated derivatives markets (89 Fed. Reg. 65,606, August 12, 2024) Final Rule, Securities Exchange Commission, on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure (88 Fed. Reg. 51,896-51,945, September 5, 2023) Proposed Rule, Securities Exchange Commission, on Changes to 14a-8 (87 Fed. Reg. 45,052-45,075, July 27, 2022) Proposed Rule, Securities and Exchange Commission, Enhanced Disclosures by Certain Investment Advisers and Investment Companies About Environmental, Social, and Governance Investment Practices (87 Fed. Reg. 63,016-63,017, October 18, 2022) Proposed Rule, Securities and Exchange Commission, Outsourcing by Investment Advisers (87 Fed. Reg. 68,816-68,883, November 16, 2022) Proposed Rule, Securities and Exchange Commission; Conflicts of Interest Associated with the use of Predictive Data Analytics by Broker-Dealers and Investment Advisers (88 Fed. Reg. 53,960-54,024, August 9, 2023) Proposed Rule, Securities Exchange Commission, on Safeguarding Advisory Client Assets (88 Fed. Reg 14,672-14,792, March 9, 2023) Proposed Rule, Public Company Accounting Oversight Board; Amendments to PCAOB Auditing Standards related to a Companys Noncompliance with Laws and Regulations (PCAOB Release No. 2023-003/PCAOB Rulemaking Docket Matter No. 051, June 6, 2023) Various issues relating to SEC Best Interest and Enhancing Investment Adviser Regulation relating to broker-dealers, registered investment advisers, conflicts of interest; potential federal preemption of state fiduciary standards; CFTCs de minimis exception for swap dealers; Securities and Exchange Commission amendments to the Commissioners whistleblower rules file no. S7-16-18; proxy process, proxy advisory firms, and other related aspects of corporate governance; corporate common ownership; adoption of the current expected credit loss (CECL) accounting standard; role of credit reporting agencies (CRAs) in the U.S. economy; debt collection practices (regulation F) under the Fair Debt Collection Practices Act (P.L. 95-109); qualified mortgage definition under the Truth in Lending Act (P.L. 90-321) (Regulation Z); Financial Stability Oversight Council activities, including the approach to and designation of systemic importance and risk of nonbank financial companies and firms; Federal Reserve Systems Large Institution Supervision Coordinating Committee; potential housing finance reform legislation; enforcement of Securities and Exchange Commission penalties; federal interest rate authority; Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) reform; electronic consent-based SSN Verification Service (eCBSV); environmental, social, and governance (ESG) enforcement; information collection under the Community Reinvestment Act (CRA) (P.L. 95-128); potential Financial Transaction Tax (FTT); potential Treasury Department proposal relating to tax reporting by banks; investment company cross trading; potential money market fund reform measures; transition to the secured overnight financing rate; implementation of SEC Rule 15c2-11; Department of Labor fiduciary advice exemption: PTE 2020-02; benefits of risk-based pricing; mobile disclosures; modernization of the Credit Repair Organizations Act (enacted as Title IV of the Consumer Credit Protection Act, P.L. 90-321); Internal Revenue Service Priority Guidance Plan; Financial Accounting Standards Board improvements to income tax disclosures; Climate-Related Financial Risk Management for Large Banks; Consumer Financial Protection Bureau (CFPB) regulatory sandbox for disclosures; CFPB Policy Fellowship program; CFPB amendment of its Supervision and Examination Manual; CFPB conflation of Distinct Statutory Concepts of Unfairness and Discrimination; CFPB Small Business Advisory Review Panels Rulemaking on Personal Financial Data Rights; CFPB implementation of the Small Business Lending Data Collection Rule (the 1071 Rule); SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (File Number S7-26-22); Federal Deposit Insurance Corporation Proposal on Corporate Governance and Risk Management; Basel III Endgame Rule; FDIC Monitoring of Investment Funds Passivity Agreements; the Export-Import Bank of the United States; Consumer Financial Protection Circular 2024-05, Improper Overdraft Opt-In Practices; European Unions Corporate Sustainability Due Diligence Directive (CSDDD); EU sustainable finance action plan and incorporating ESG factors into financial services; reporting metrics of American companies under the EUs Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive; reporting metrics for private companies under Securities and Exchange Commission rules; reform to the function of the Public Company Accounting Oversight Board; potential rulemaking regarding Section 956 of the Dodd-Frank Act (P.L. 111-203); SEC Staff Report Review of the Accredited Investor Definition under the Dodd Frank Act; index fund passivity; oversight issues and potential legislation on third party litigation funding (including its national security implications)

Client expense: $22,410,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R.448, Putting Investors First Act of 2023 General discussions related to export controls international trade and sanctions. National Defense Authorization Act for Fiscal Year 2020, (P.L. 116-92), including provisions relating to sanctions. Discussions related to proposals to facilitate and promote competitive financial services markets. Discussions on insourcing and foreign direct investment. Support of House Global Investment Caucus. General discussions in support of covered agreements. General discussions related to a U.S. Swiss FTA. General discussions related to rebuilding Ukraine. Monitored developments related to U.S. sanctions activity.

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

Government targets: Commerce, Dept of (DOC), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

H.R. 448 Proxy Advisory Firms **Issues lobbied without specific bill number: Climate Change Disclosures S. 1799 Proxy Advisory Firms H.R. 4589 Proxy Advisor Registration H.R. 4590 Proxy Advisor Firms H.R. 4628 Proxy Advisor Disclosure H.R. 4640 Proxy Advisor Disclosure H.R. 4641 Shareholder Proposals H.R. 4645 Proxy Voting H.R. 4662 Proxy Advisor Firm Study H.R. 4767 Proxy Advisor Firms H.R. 4790 Financial Disclosure H.R. 4655 Shareholder Proposals S. 3179 Shareholder Proposals H.R. 7030 Securities and Exchange Commission Rulemaking

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to regulation and oversight of proxy advisory firms and ESG investing; H.R. 4767 Protecting Americans' Retirement Savings from Politics Act; H.R. 448 Putting Investors First Act; S. 1799 Putting Investors First Act; H.R. 4664 The Financial Services and General Government Appropriations Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to regulation and oversight of proxy advisory firms and ESG investing; H.R. 4767 Protecting Americans' Retirement Savings from Politics Act; H.R. 448 Putting Investors First Act; S. 1799 Putting Investors First Act; H.R. 4664 The Financial Services and General Government Appropriations Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

PL 111-203 Dodd-Frank Wall Street Reform and Consumer Protection Act - various financial reforms HR 448 Putting Investors First Act - requires a proxy advisory firm to register with the SEC and other restrictions HR 500 Financial Exploitation Prevention Act - allows for the delay of the redemption of a security if it is reasonably believed the redemption involves the financial exploitation HR 8521 (117th) Investor Democracy is Expected (INDEX) Act - guidelines for passively index funds that vote shares on behalf of fund investors HR 9408/S 5005 (117th) Mandatory Materiality Requirement Act - limits additional disclosure requirements applicable to issuers of securities Issue Mutual Fund Swing Pricing/Hard Close Requirements Issue Insurance Capital Standards and Systemic Risk Issue SEC Rule 15c2-11/144A Securities Issue Environmental, Social, Governance Issue Federal Home Loan Bank Issues HR 1807 Improving Disclosure for Investors Act - Direct SEC to promulgate rules with respect to the electronic delivery of certain required disclosures DRAFT To except quotations of Rule 144A fixed-income securities from certain regulatory requirements HR 2891/S 1323 SAFE Banking Act -- To create protections for financial institutions that provide financial services to cannabis-related legitimate businesses and service providers for such businesses HR 835Fair Investment Opportunities for Professional Experts Act -- expands the eligibility criteria for an accredited investor HR 1579 Accredited Investor Definition Review Act -- expands the eligibility criteria for an accredited investor HR 3746 Fiscal Responsibility Act of 2023 - increases the federal debt limit, establishes new discretionary spending limits, rescinds unobligated funds, expands work requirements for federal programs, and modifies other requirements related to the federal budget process. HR 3812 FSOC Improvement Act -- 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 HR 2891/S 1323 SAFER Banking Act - prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business S 3815-Improving Disclosures for Investors Act of 2024 S 3815 - Improving Disclosures for Investors Act of 2024 S 4371 - Empowering States to Protect Seniors from Bad Actors Act S 4917 - Retirement Fairness for Charities and Educational Institutions Act of 2024 - to amend the Federal securities laws to enhance 403(b) plans HR 10545 American Relief Act, 2025 Draft - CDA Registration Streamlining

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

Government targets: Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Issues relating to shareholder proposals. SEC rules, proposals and guidance concerning governance, proxy and shareholder issues. Issues relating to Environmental, Social, and Governance (ESG) factors in investing and corporate governance. H.R. 448, Putting Investors First Act of 2023, all provisions.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR.448 - Putting Investors First Act of 2023 DOL Final Rule updating the definition of an investment advice fiduciary under ERISA

Client expense: $170,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R.448: Putting Investors First Act H.R.4589 -To amend the Securities Exchange Act of 1934 to provide for the registration of proxy advisory firms H.R.4645 - To amend the Investment Advisers Act of 1940 with respect to proxy voting of passively managed funds, and for other purposes Investment policy related to surety bonding U.S. Securities and Exchange Commission (SEC) public company disclosure proposal including climate risk, cybersecurity, and stock buybacks Issues related to greenhouse gas emissions, net zero, and corporate climate policy Department of Labor Fiduciary Duty Rule

Client expense: $390,000 · Firm income: Not reported

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

H.R. 448 Proxy Advisory Firms **Issues lobbied without specific bill number: Climate Change Disclosures S. 1799 Proxy Advisory Firms H.R. 4589 Proxy Advisor Registration H.R. 4590 Proxy Advisor Firms H.R. 4628 Proxy Advisor Disclosure H.R. 4640 Proxy Advisor Disclosure H.R. 4641 Shareholder Proposals H.R. 4645 Proxy Voting H.R. 4662 Proxy Advisor Firm Study H.R. 4767 Proxy Advisor Firms H.R. 4790 Financial Disclosure H.R. 4655 Shareholder Proposals S. 3179 Shareholder Proposals H.R. 7030 Securities and Exchange Commission Rulemaking

Client expense: $1,370,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Banking Policy Impacting Emerging Companies ---Regulatory Burden Capital Formation Incentives ---H.R.368: American Innovation Act of 2023 ---H.R.448: Putting Investors First Act of 2023 ---H.R.835: Fair Investment Opportunities for Professional Experts Act ---H.R.1579: Accredited Investor Definition Review Act ---H.R.2608: To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes. ---H.R.2610: To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. ---H.R.2624: Helping Startups Continue to Grow Act ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.2792: Small Entity Update Act ---H.R.2797: Equal Opportunity for All Investors Act of 2023 ---H.R.2799: Expanding Access to Capital Act of 2023 ---H.R.7515: Infectious Disease Therapies Research and Innovation Act ---S.866: American Innovation and Jobs Act ---H.R.9562 Adjusting the well known seasoned issuers definition to allow for a larger financing round using ---Implementation of the Inflation Reduction Act (IRA) of 2022 ---Convert public float thresholds to soft triggers from hard triggers to avoid surprise expenses by implementing a rolling average window ---Net Operating Loss Advance Refunds ---Update Form S-3 holding period from 12 months to six months to reflect Wall Street standards ---Update public float threshold triggers to align with current market conditions Capital Market Enhancements ---Accredited Investor Definition ---Amended Definition of Smaller Reporting Company ---JOBS Act 4.0 ---Market Liquidity Proposals ---Public Float Threshold Update ---SEC Small Business Forum ---Small Business Capital Formation Enhancement Act Mergers and Acquisitions Reform of SEC Regulation D ---Accredited Investor Certification Sarbanes Oxley Section 404 (b) ---Small Issuer Exemption Small Business Innovation Research (SBIR) Program ---Reauthorization of SBIR and STTR ---Implementation of the SBIR and STTR Extension Act of 2022

Client expense: $1,680,000 · Firm income: Not reported

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

H.R. 448 Proxy Advisory Firms **Issues lobbied without specific bill number: Climate Change Disclosures S. 1799 Proxy Advisory Firms H.R. 4589 Proxy Advisor Registration H.R. 4590 Proxy Advisor Firms H.R. 4628 Proxy Advisor Disclosure H.R. 4640 Proxy Advisor Disclosure H.R. 4641 Shareholder Proposals H.R. 4645 Proxy Voting H.R. 4662 Proxy Advisor Firm Study H.R. 4767 Proxy Advisor Firms H.R. 4790 Financial Disclosure H.R. 4655 Shareholder Proposals S. 3179 Shareholder Proposals H.R. 7030 Securities and Exchange Commission Rulemaking

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 448, Putting Investors First Act of 2023 H.R. 758, Promoting Access to Capital in Underbanked Communities Act of 2023 H.R. 835, Fair Investment Opportunities for Professional Experts Act H.R. 1010/S. 453, Prohibiting IRS Financial Surveillance Act H.R. 1410, Consumer Financial Protection Commission Act H.R. 1548, Improving Access to Small Business Information Act H.R. 1553, Helping Angels Lead our Startups (HALOS) Act H.R. 1579, Accredited Investor Definition Review Act H.R. 2608, To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes H.R. 2610, To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes H.R. 2612, Gig Worker Equity Compensation Act H.R. 2627, Increasing Investor Opportunities Act H.R. 2652, Investment Opportunity Expansion Act H.R. 2792, Small Entity Update Act H.R. 2793, Encouraging Public Offerings Act of 2023 H.R. 2795, Enhancing Multi-Class Share Disclosures Act H.R. 2796, Promoting Opportunities for Non-Traditional Capital Formation Act H.R. 2797, Equal Opportunity for All Investors Act H.R. 2798, CFPB Transparency and Accountability Reform Act H.R. 2799/S. 3815, Expanding Access to Capital Act of 2023 H.R. 2812, Middle Market IPO Underwriting Cost Act H.R. 3063, Retirement Fairness for Charities and Educational Institutions Act H.R. 3161, CDFI Fund Transparency Act H.R. 4035, Protecting Small Business Information Act of 2023 H.R. 4168/S. 2005, Mandatory Materiality Requirement Act of 2023 H.R. 4177/S. 2007, Improving Corporate Governance Through Diversity Act of 2023 H.R. 4366, Consolidated Appropriations Act, 2024, including provisions related to Senate Amendment 1217 and Senate Amendments 1092 H.R. 4664/S. 2309, Making appropriations for financial services and general government for the fiscal year ending September 30, 2024, and for other purposes H.R. 4790, Prioritizing Economic Growth Over Woke Policies Act H.R. 4823, American Financial Institution Regulator Sovereignty and Transparency Act H.R. 5488/S. 2805, Protecting Our Courts from Foreign Manipulation Act of 2023 H.R. 7000/S. 3592, Business of Insurance Regulatory Reform Act of 2024 H.R. 7092/S. 3676, Protecting Private Job Creators Act H.R. 7470/S.3823, Secure U.S. Leadership in Space Act of 2024 H.R. 8337, Bank Resilience and Regulatory Improvement Act H.R. 8338, Clarity in Lending Act H.R. 8339, SEC Reform and Restructuring Act H.R. 8773, Financial Services and General Government Appropriations Act, 2025 S. 638, Disclosure of Tax Havens and Offshoring Act S. 3541, Fair Audits and Inspections for Regulators Exams Act S. 5139, Empowering Main Street in America Act of 2024 H.J.Res. 100/S.J.Res. 50, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure" H.J.Res. 120, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Financial Stability Oversight Council related to "Guidance on Nonbank Financial Company Determinations" H.J.Res. 122/H.J.Res.121/S.J.Res.70, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)" H.J.Res. 201, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders" Potential legislation similar to H.R. 5598, Access to Small Business Investor Capital Act Potential legislation similar to H.R. 2025/S. 840, Litigation Funding Transparency Act SEC Proposed Rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors (87 Fed. Reg. 21,334-21,473, April 11, 2022) Proposed Rule, Securities and Exchange Commission; Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (87 Fed. Reg. 77,172-77,296, December 16, 2022) Proposed Rule, Public Company Accounting Oversight Board; Amendments to Reporting Requirements for Registered Firms (PCAOB Release No. 2024-003, April 9, 2024; PCAOB Rulemaking Docket Matter No. 055) Proposed Rule, Public Company Accounting Oversight Board; Amendments to False or Misleading Statements Concerning PCAOB Registration and Oversight and Constructive Requests to Withdraw from Registration (PCAOB Release No. 2024-001, February 27, 2024; PCAOB Rulemaking Docket Matter No. 054) Proposed Rule, Public Company Accounting Oversight Board; Amendments to Firm and Engagement Metrics (PCAOB Release No. 2024-002, April 9, 2024; PCAOB Rulemaking Docket Matter No. 041) Adopting Order of the Securities and Exchange Commission: Public Company Accounting Oversight Board Amendments to QC 1000, A Firms System of Quality Control and Related Amendments to PCAOB Standards, Rules, and Forms (SEC Release No 34-100968; PCAOB File No. PCAOB-2024-002) Request for Information, U.S. Treasury, Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector (TREAS-DO-2024-0011, June 12, 2024) Request for Comment, Commodity Futures Trading Commission (CFTC), The Use of Artificial Intelligence (AI) in CFTC-regulated derivatives markets (Fed. Reg. 89, 65,606, August 12, 2024) Final Rule, Security Exchange Commission, on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure (88 Fed. Reg. 51,896-51,945, September 5, 2023) Proposed Rule, Security Exchange Commission, on Changes to 14a-8 (87 Fed. Reg. 45,052-45,075, July 27, 2022) Final Rule, Security Exchange Commission, on Share Repurchase Disclosure Modernization (88 Fed. Reg. 36,002-36,063, July 31, 2023) Proposed Rule, Securities and Exchange Commission, Enhanced Disclosures by Certain Investment Advisers and Investment Companies About Environmental, Social, and Governance Investment Practices (87 Fed. Reg. 63,016-63,017, October 18, 2022) Proposed Rule, Securities and Exchange Commission, Outsourcing by Investment Advisers (87 Fed. Reg. 68,816-68,883, November 16, 2022) Proposed Rule, Securities and Exchange Commission; Conflicts of Interest Associated with the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers (88 Fed. Reg. 53,960- 54,024, August 9, 2023) Proposed Rule, Security Exchange Commission, on Private Fund Advisers (87 FR 16,886, February 9, 2022) Proposed Rule, Security Exchange Commission, on Safeguarding Advisory Client Assets (88 Fed. Reg 14,672-14,792, March 9, 2023) Proposed Rule, Public Company Accounting Oversight Board; Amendments to PCAOB Auditing Standards related to a Companys Noncompliance with Laws and Regulations (PCAOB Release No. 2023-003/PCAOB Rulemaking Docket Matter No. 051, June 6, 2023) Various issues relating to SEC Best Interest and Enhancing Investment Adviser Regulation relating to broker-dealers, registered investment advisers, conflicts of interest; potential federal preemption of state fiduciary standards; CFTCs de minimis Exception for Swap Dealers; Securities and Exchange Commission amendments to the Commissioners whistleblower rules file no. S7-16-18; proxy process, proxy advisory firms, and other related aspects of corporate governance; corporate common ownership; adoption of the current expected credit loss (CECL) accounting standard; role of credit reporting agencies (CRAs) in the U.S. economy; debt collection practices (regulation F) under the Fair Debt Collection Practices Act (P.L. 95-109); qualified mortgage definition under the Truth in Lending Act (P.L. 90-321) (Regulation Z); Financial Stability Oversight Council activities, including the approach to and designation of systemic importance and risk of nonbank financial companies and firms; Federal Reserve Systems Large Institution Supervision Coordinating Committee; potential housing finance reform legislation; enforcement of Securities and Exchange Commission penalties; federal interest rate authority; Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) reform; electronic consent-based SSN Verification Service (eCBSV); environmental, social, and governance (ESG) enforcement; information collection under the Community Reinvestment Act (CRA) (P.L. 95-128); potential Financial Transaction Tax (FTT); potential Treasury Department proposal relating to tax reporting by banks; investment company cross trading; potential money market fund reform measures; transition to the secured overnight financing rate; implementation of SEC Rule 15c2-11; Department of Labor fiduciary advice exemption: PTE 2020-02; benefits of risk-based pricing; mobile disclosures; modernization of the Credit Repair Organizations Act (enacted as Title IV of the Consumer Credit Protection Act, P.L. 90-321); Internal Revenue Service Priority Guidance Plan; Financial Accounting Standards Board improvements to income tax disclosures; climate-related financial risk management for large banks; Consumer Financial Protection Bureau (CFPB) regulatory sandbox for disclosures; CFPB Policy Fellowship program; CFPB amendment of its Supervision and Examination Manual; CFPB conflation of Distinct Statutory Concepts of Unfairness and Discrimination; CFPB Small Business Advisory Review Panels Rulemaking on Personal Financial Data Rights; CFPB implementation of the Small Business Lending Data Collection Rule (the 1071 Rule); SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (File Number S7-26-22); Federal Deposit Insurance Corporation Proposal on Corporate Governance and Risk Management; Basel III Endgame Rule; FDIC Monitoring of Investment Funds Passivity Agreements; issues related to the Export-Import Bank of the United States; European Commission debates over stricter rules on third-party delegation; European Union Capital Markets Union; retail participation in capital markets; United Kingdom pensions reform; European Unions Corporate Sustainability Due Diligence Directive (CSDDD); EU sustainable finance action plan and incorporating ESG factors into financial services; reporting metrics of American companies under the EUs Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive; reporting metrics of American companies under the California climate disclosure laws; reporting metrics of American companies on diversity, equity, and inclusion; reporting metrics of American companies on executive compensation; reporting metrics for private companies under Securities and Exchange Commission rules; reform to the function of the Public Company Accounting Oversight Board; interconnectedness of the SECs rulemaking agenda; potential rulemaking regarding Section 956 of the Dodd-Frank Act (P.L. 111-203); SEC Staff Report Review of the Accredited Investor Definition under the Dodd Frank Act; index fund passivity; oversight issues and potential legislation on third party litigation funding (including its national security implications)

Client expense: $14,750,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R.448, Putting Investors First Act of 2023 General discussions related to export controls international trade and sanctions. National Defense Authorization Act for Fiscal Year 2020, (P.L. 116-92), including provisions relating to sanctions. Discussions related to proposals to facilitate and promote competitive financial services markets. Discussions on insourcing and foreign direct investment. Support of House Global Investment Caucus. General discussions in support of covered agreements. General discussions related to a U.S. Swiss FTA. General discussions related to rebuilding Ukraine. Monitored developments related to U.S. sanctions activity.

Client expense: $320,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

HR.448 - Putting Investors First Act of 2023 DOL Final Rule updating the definition of an investment advice fiduciary under ERISA

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R.448: Putting Investors First Act H.R.4589 -To amend the Securities Exchange Act of 1934 to provide for the registration of proxy advisory firms H.R.4645 - To amend the Investment Advisers Act of 1940 with respect to proxy voting of passively managed funds, and for other purposes Investment policy related to surety bonding U.S. Securities and Exchange Commission (SEC) public company disclosure proposal including climate risk, cybersecurity, and stock buybacks Issues related to greenhouse gas emissions, net zero, and corporate climate policy Department of Labor Fiduciary Duty Rule

Client expense: $610,000 · Firm income: Not reported

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

PL 111-203 Dodd-Frank Wall Street Reform and Consumer Protection Act - various financial reforms HR 448 Putting Investors First Act - requires a proxy advisory firm to register with the SEC and other restrictions HR 500 Financial Exploitation Prevention Act - allows for the delay of the redemption of a security if it is reasonably believed the redemption involves the financial exploitation HR 8521 (117th) Investor Democracy is Expected (INDEX) Act - guidelines for passively index funds that vote shares on behalf of fund investors HR 9408/S 5005 (117th) Mandatory Materiality Requirement Act - limits additional disclosure requirements applicable to issuers of securities Issue Mutual Fund Swing Pricing/Hard Close Requirements Issue Insurance Capital Standards and Systemic Risk Issue SEC Rule 15c2-11/144A Securities Issue Environmental, Social, Governance Issue Federal Home Loan Bank Issues HR 1807 Improving Disclosure for Investors Act - Direct SEC to promulgate rules with respect to the electronic delivery of certain required disclosures DRAFT To except quotations of Rule 144A fixed-income securities from certain regulatory requirements HR 2891/S 1323 SAFE Banking Act -- To create protections for financial institutions that provide financial services to cannabis-related legitimate businesses and service providers for such businesses HR 835Fair Investment Opportunities for Professional Experts Act -- expands the eligibility criteria for an accredited investor HR 1579 Accredited Investor Definition Review Act -- expands the eligibility criteria for an accredited investor HR 3746 Fiscal Responsibility Act of 2023 - increases the federal debt limit, establishes new discretionary spending limits, rescinds unobligated funds, expands work requirements for federal programs, and modifies other requirements related to the federal budget process. HR 3812 FSOC Improvement Act -- 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 HR 2891/S 1323 SAFER Banking Act - prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business S 3815-Improving Disclosures for Investors Act of 2024 S 3815 - Improving Disclosures for Investors Act of 2024 S 4371 - Empowering States to Protect Seniors from Bad Actors Act S 4917 - Retirement Fairness for Charities and Educational Institutions Act of 2024 - to amend the Federal securities laws to enhance 403(b) plans

Client expense: $700,000 · Firm income: Not reported

Government targets: Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Issues relating to shareholder proposals. SEC rules, proposals and guidance concerning governance, proxy and shareholder issues. Issues relating to Environmental, Social, and Governance (ESG) factors in investing and corporate governance. H.R. 448, Putting Investors First Act of 2023, all provisions.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to regulation and oversight of proxy advisory firms and ESG investing; H.R. 4767 Protecting Americans' Retirement Savings from Politics Act; H.R. 448 Putting Investors First Act; S. 1799 Putting Investors First Act; H.R. 4664 The Financial Services and General Government Appropriations Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to regulation and oversight of proxy advisory firms and ESG investing; H.R. 4767 Protecting Americans' Retirement Savings from Politics Act; H.R. 448 Putting Investors First Act; S. 1799 Putting Investors First Act; H.R. 4664 The Financial Services and General Government Appropriations Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 448 Proxy Advisory Firms **Issues lobbied without specific bill number: Climate Change Disclosures S. 1799 Proxy Advisory Firms H.R. 4589 Proxy Advisor Registration H.R. 4590 Proxy Advisor Firms H.R. 4628 Proxy Advisor Disclosure H.R. 4640 Proxy Advisor Disclosure H.R. 4641 Shareholder Proposals H.R. 4645 Proxy Voting H.R. 4662 Proxy Advisor Firm Study H.R. 4767 Proxy Advisor Firms H.R. 4790 Financial Disclosure H.R. 4655 Shareholder Proposals S. 3179 Shareholder Proposals H.R. 7030 Securities and Exchange Commission Rulemaking

Client expense: $1,600,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 448, Putting Investors First Act of 2023 H.R. 758, Promoting Access to Capital in Underbanked Communities Act of 2023 H.R. 835, Fair Investment Opportunities for Professional Experts Act H.R. 1010/S. 453, Prohibiting IRS Financial Surveillance Act H.R. 1410, Consumer Financial Protection Commission Act H.R. 1548, Improving Access to Small Business Information Act H.R. 1553, Helping Angels Lead our Startups (HALOS) Act H.R. 1579, Accredited Investor Definition Review Act H.R. 2608, To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes H.R. 2610, To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes H.R. 2612, Gig Worker Equity Compensation Act H.R. 2627, Increasing Investor Opportunities Act H.R. 2652, Investment Opportunity Expansion Act H.R. 2792, Small Entity Update Act H.R. 2793, Encouraging Public Offerings Act of 2023 H.R. 2795, Enhancing Multi-Class Share Disclosures Act H.R. 2796, Promoting Opportunities for Non-Traditional Capital Formation Act H.R. 2797, Equal Opportunity for All Investors Act H.R. 2798, CFPB Transparency and Accountability Reform Act H.R. 2799/S. 3815, Expanding Access to Capital Act of 2023 H.R. 2812, Middle Market IPO Underwriting Cost Act H.R. 3063, Retirement Fairness for Charities and Educational Institutions Act H.R. 3161, CDFI Fund Transparency Act H.R. 4035, Protecting Small Business Information Act of 2023 H.R. 4168/S. 2005, Mandatory Materiality Requirement Act of 2023 H.R. 4177/S. 2007, Improving Corporate Governance Through Diversity Act of 2023 H.R. 4366, Consolidated Appropriations Act, 2024, including provisions related to Senate Amendment 1217 and Senate Amendment 1092 H.R. 4664/S. 2309, Making appropriations for financial services and general government for the fiscal year ending September 30, 2024, and for other purposes H.R. 4823, American Financial Institution Regulator Sovereignty and Transparency Act H.R. 5488/S. 2805, Protecting Our Courts from Foreign Manipulation Act of 2023 H.R. 7000/S. 3592, Business of Insurance Regulatory Reform Act of 2024 H.R. 7092/S. 3676, Protecting Private Job Creators Act H.R. 7470/S.3823, Secure U.S. Leadership in Space Act of 2024 H.R. 8070, Service Member Quality of Life Improvement and National Defense Authorization for Fiscal Year 2025 H.R. 8337, Bank Resilience and Regulatory Improvement Act H.R. 8338, Clarity in Lending Act H.R. 8339, SEC Reform and Restructuring Act H.R. 8773, Financial Services and General Government Appropriations Act, 2025 S. 638, Disclosure of Tax Havens and Offshoring Act S. 3541, Fair Audits and Inspections for Regulators Exams Act H.J.Res. 100 / S.J.Res. 50, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure" H.J.Res. 120, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Financial Stability Oversight Council related to "Guidance on Nonbank Financial Company Determinations" H.J.Res. 122/H.J.Res.121/S.J.Res.70, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)" Draft legislation titled Accredited Investor Self-Certification Act Potential legislation on environmental, social, and governance issues Potential legislation to reform the Securities and Exchange Commission Potential legislation similar to H.R. 5598, Access to Small Business Investor Capital Act Potential legislation similar to H.R. 2025/S. 840, Litigation Funding Transparency Act SEC Proposed Rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors (87 Fed. Reg. 21,334-21,473, April 11, 2022) Proposed Rule, Securities and Exchange Commission; Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (87 Fed. Reg. 77,172-77,296, December 16, 2022) Notice of Proposed Rulemaking, Internal Revenue Service (IRS), Treasury; Excise Tax on Repurchase of Corporate Stock-Procedure and Administration (89 Fed. Reg. 25,829-25,834, April 12, 2024) Notice of Proposed Rulemaking, Section 45V Credit for Production of Clean Hydrogen; Section 48(a)(15) Election To Treat Clean Hydrogen Production Facilities as Energy Property (89 Fed. Reg. 25,551-25,553, April 11, 2024) Proposed Rule, Public Company Accounting Oversight Board; Amendments to Reporting Requirements for Registered Firms (PCAOB Release No. 2024-003, April 9, 2024; PCAOB Rulemaking Docket Matter No. 055) Proposed Rule, Public Company Accounting Oversight Board; Amendments to False or Misleading Statements Concerning PCAOB Registration and Oversight and Constructive Requests to Withdraw from Registration (PCAOB Release No. 2024-001, February 27, 2024; PCAOB Rulemaking Docket Matter No. 054) Proposed Rule, Public Company Accounting Oversight Board; Amendments to Firm and Engagement Metrics (PCAOB Release No. 2024-002, April 9, 2024; PCAOB Rulemaking Docket Matter No. 041) Final Rule, Security Exchange Commission on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure (88 Fed. Reg. 51,896-51,945, September 5, 2023) Proposed Rule, Security Exchange Commission on Changes to 14a-8 (87 Fed. Reg. 45,052-45,075, July 27, 2022) Proposed Rule, Consumer Financial Protection Bureau; Overdraft Lending: Very Large Financial Institutions (89 Fed. Reg. 13,852-13,908, February 23, 2024) Final Rule, Security Exchange Commission on Share Repurchase Disclosure Modernization (88 Fed. Reg. 36,002-36,063, July 31, 2023) Proposed Rule, FSOC Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies, Proposed Interpretive Guidance (88 Fed. Reg. 26,234-26,244, April 28, 2023) Proposed Rule, FSOC Analytic Framework for Financial Stability Risk Identification, Assessment, and Response, Proposed Analytic Framework (88 Fed. Reg. 26,305-26,311, April 28, 2023) Proposed Rule, Securities and Exchange Commission; Conflicts of Interest Associated with the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers (88 Fed. Reg. 53,960- 54,024, August 9, 2023) Proposed Rule, Security Exchange Commission on Private Fund Advisers (87 FR 16,886, February 9, 2022) Proposed Rule, Security Exchange Commission on Safeguarding Advisory Client Assets (88 Fed. Reg 14,672-14,792, March 9, 2023) Proposed Rule, Federal Deposit Insurance Corporation; Request for Comment on Proposed Statement of Policy on Bank Merger Transactions (89 Fed. Reg. 29,222-29,244, April 19, 2024) Proposed Rule, Public Company Accounting Oversight Board; Amendments to PCAOB Auditing Standards related to a Companys Noncompliance with Laws and Regulations (PCAOB Release No. 2023-003/PCAOB Rulemaking Docket Matter No. 051, June 6, 2023) Notice and Request for Comment, Consumer Financial Protection Bureau; Agency Information Collection Activities (89 Fed. Reg 4,281-4,282, January 23, 2024) Proposed Rule, Consumer Financial Protection Bureau; Defining Larger Participants of a Market for General Use Digital Consumer Payment Applications (88 Fed. Reg. 80,197-80,216, November 17, 2023) Various issues relating to SEC Best Interest and Enhancing Investment Adviser Regulation relating to broker-dealers, registered investment advisers, conflicts of interest; potential federal preemption of state fiduciary standards; CFTCs de minimis Exception for Swap Dealers; Securities and Exchange Commission amendments to the Commissioners whistleblower rules file no. S7-16-18; proxy process, proxy advisory firms, and other related aspects of corporate governance corporate common ownership; adoption of the current expected credit loss (CECL) accounting standard; role of credit reporting agencies (CRAs) in the U.S. economy; debt collection practices (regulation F) under the Fair Debt Collection Practices Act (P.L. 95-109); qualified mortgage definition under the Truth in Lending Act (P.L. 90-321) (Regulation Z); Financial Stability Oversight Council activities, including the approach to and designation of systemic importance and risk of nonbank financial companies and firms; Federal Reserve Systems Large Institution Supervision Coordinating Committee; potential housing finance reform legislation; enforcement of Securities and Exchange Commission penalties; federal interest rate authority; Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) reform; electronic consent-based SSN Verification Service (eCBSV); environmental, social, and governance (ESG) enforcement; information collection under the Community Reinvestment Act (CRA) (P.L. 95-128); potential Financial Transaction Tax (FTT); potential Treasury Department proposal relating to tax reporting by banks; investment company cross trading; potential money market fund reform measures; transition to the secured overnight financing rate; implementation of SEC Rule 15c2-11; Department of Labor fiduciary advice exemption: PTE 2020-02; benefits of risk-based pricing; mobile disclosures; modernization of the Credit Repair Organizations Act (enacted as Title IV of the Consumer Credit Protection Act, P.L. 90-321); Internal Revenue Service Priority Guidance Plan; Federal Trade Commission issues: Freedom of Information Act Requests, Penalty Offense Authority, Zombie Voting, and overall direction of the Commission under Chair Lina Khan; Financial Accounting Standards Board improvements to income tax disclosures; Climate-Related Financial Risk Management for Large Banks; CFPB regulatory sandbox for disclosures; CFPB Policy Fellowship program; CFPB amendment of its Supervision and Examination Manual; CFPB conflation of Distinct Statutory Concepts of Unfairness and Discrimination; CFPB Small Business Advisory Review Panels Rulemaking on Personal Financial Data Rights; CFPB implementation of the Small Business Lending Data Collection Rule (the 1071 Rule); SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (File Number S7-26-22); Federal Deposit Insurance Corporation Proposal on Corporate Governance and Risk Management; Basel III Endgame Rule; FDIC Monitoring of Investment Funds Passivity Agreements; issues related to the Export-Import Bank of the United States; EU sustainable finance action plan and incorporating ESG factors into financial services; reporting metrics of American companies under the EUs Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive; reporting metrics of American companies under the California climate disclosure laws; interconnectedness of the SECs rulemaking agenda; potential rulemaking regarding Section 956 of the Dodd-Frank Act (P.L. 111-203); SEC Staff Report Review of the Accredited Investor Definition under the Dodd Frank Act index fund passivity; oversight issues and potential legislation on third party litigation funding (including its national security implications)

Client expense: $13,930,000 · Firm income: Not reported

Government targets: Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Justice, Dept of (DOJ), Labor, Dept of (DOL), Office of Management & Budget (OMB), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

HR.448 - Putting Investors First Act of 2023 DOL Proposed Rule updating the definition of an investment advice fiduciary under ERISA DOL Final Rule updating the definition of an investment advice fiduciary under ERISA;

Client expense: $240,000 · Firm income: Not reported

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

Banking Policy Impacting Emerging Companies ---Regulatory Burden Capital Formation Incentives ---H.R.368: American Innovation Act of 2023 ---H.R.448: Putting Investors First Act of 2023 ---H.R.835: Fair Investment Opportunities for Professional Experts Act ---H.R.1579: Accredited Investor Definition Review Act ---H.R.2608: To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes. ---H.R.2610: To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. ---H.R.2624: Helping Startups Continue to Grow Act ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.2792: Small Entity Update Act ---H.R.2797: Equal Opportunity for All Investors Act of 2023 ---H.R.2799: Expanding Access to Capital Act of 2023 ---H.R.7515: Infectious Disease Therapies Research and Innovation Act ---S.866: American Innovation and Jobs Act ---H.R.9562 Adjusting the well known seasoned issuers definition to allow for a larger financing round using ---Implementation of the Inflation Reduction Act (IRA) of 2022 ---Convert public float thresholds to soft triggers from hard triggers to avoid surprise expenses by implementing a rolling average window ---Net Operating Loss Advance Refunds ---Update Form S-3 holding period from 12 months to six months to reflect Wall Street standards ---Update public float threshold triggers to align with current market conditions Capital Market Enhancements ---Accredited Investor Definition ---Amended Definition of Smaller Reporting Company ---JOBS Act 4.0 ---Market Liquidity Proposals ---Public Float Threshold Update ---SEC Small Business Forum ---Small Business Capital Formation Enhancement Act Mergers and Acquisitions Reform of SEC Regulation D ---Accredited Investor Certification Sarbanes Oxley Section 404 (b) ---Small Issuer Exemption Small Business Innovation Research (SBIR) Program ---Reauthorization of SBIR and STTR ---Implementation of the SBIR and STTR Extension Act of 2022

Client expense: $1,790,000 · Firm income: Not reported

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

Biofuels (Non-Funding) ---Incentives for Sustainable Aviation Fuels ---Sustainable Aviation Fuels Tax Credit Capital Formation Incentives ---H.R.368: American Innovation Act of 2023 ---H.R.448: Putting Investors First Act of 2023 ---H.R.835: Fair Investment Opportunities for Professional Experts Act ---H.R.1579: Accredited Investor Definition Review Act ---H.R.2608: To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes. ---H.R.2610: To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. ---H.R.2624: Helping Startups Continue to Grow Act ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.2792: Small Entity Update Act ---H.R.2799: Expanding Access to Capital Act of 2023 ---H.R.2797: Equal Opportunity for All Investors Act of 2023 ---H.R.7515: Infectious Disease Therapies Research and Innovation Act ---H.R. 9562 Adjusting the well-known seasoned issues definition to allow for a larger financing round using ---S.866: American Innovation and Jobs Act ---Convert public float thresholds to soft triggers from hard triggers to avoid surprise expenses by implementing a rolling average window ---Implementation of the Inflation Reduction Act (IRA) of 2022 ---Net Operating Loss Advance Refunds ---Update Form S-3 holding period from 12 months to six months to reflect Wall Street standards ---Update public float threshold triggers to align with current market conditions Orphan Drug Issues Pandemic Preparedness Renewable Chemicals/Bio-based Products (Non-Funding) ---Climate Issues & impact on the agriculture and food sectors Research & Development Tax Credit Reforms ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.7024: Tax Relief for American Families and Workers Act of 2024 ---S.866: American Innovation and Jobs Act ---Expensing of R&D Expenditures ---NOL ---R&D Payroll Credit Vaccine Injury Compensation Program ---FY 2025 Appropriations ---H.R.7551: Let Injured Americans Be Legally Empowered (LIABLE) Act ---S.3810: Countermeasure Injury Compensation Fund Amendment Act ---H.R.5142: Vaccine Injury Compensation Modernization Act of 2023 ---H.R.5143: Vaccine Access Improvement Act of 2023 ---VICP CICP (Discussion Draft)

Client expense: $1,790,000 · Firm income: Not reported

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

H.R.448, Putting Investors First Act of 2023 General discussions related to export controls international trade and sanctions. National Defense Authorization Act for Fiscal Year 2020, (P.L. 116-92), including provisions relating to sanctions. Discussions related to proposals to facilitate and promote competitive financial services markets. Discussions on insourcing and foreign direct investment. Support of House Global Investment Caucus. General discussions in support of covered agreements. General discussions related to a U.S. Swiss FTA. General discussions related to rebuilding Ukraine. Monitored developments related to U.S. sanctions activity.

Client expense: $390,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

PL 111-203 Dodd-Frank Wall Street Reform and Consumer Protection Act - various financial reforms HR 448 Putting Investors First Act - requires a proxy advisory firm to register with the SEC and other restrictions HR 500 Financial Exploitation Prevention Act - allows for the delay of the redemption of a security if it is reasonably believed the redemption involves the financial exploitation HR 8521 (117th) Investor Democracy is Expected (INDEX) Act - guidelines for passively index funds that vote shares on behalf of fund investors HR 9408/S 5005 (117th) Mandatory Materiality Requirement Act - limits additional disclosure requirements applicable to issuers of securities Issue Mutual Fund Swing Pricing/Hard Close Requirements Issue Insurance Capital Standards and Systemic Risk Issue SEC Rule 15c2-11/144A Securities Issue Environmental, Social, Governance Issue Federal Home Loan Bank Issues HR 1807 Improving Disclosure for Investors Act - Direct SEC to promulgate rules with respect to the electronic delivery of certain required disclosures DRAFT To except quotations of Rule 144A fixed-income securities from certain regulatory requirements HR 2891/S 1323 SAFE Banking Act -- To create protections for financial institutions that provide financial services to cannabis-related legitimate businesses and service providers for such businesses HR 835Fair Investment Opportunities for Professional Experts Act -- expands the eligibility criteria for an accredited investor HR 1579 Accredited Investor Definition Review Act -- expands the eligibility criteria for an accredited investor HR 3746 Fiscal Responsibility Act of 2023 - increases the federal debt limit, establishes new discretionary spending limits, rescinds unobligated funds, expands work requirements for federal programs, and modifies other requirements related to the federal budget process. HR 3812 FSOC Improvement Act -- 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 HR 2891/S 1323 SAFER Banking Act - prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business S 3815-Improving Disclosures for Investors Act of 2024 S 3815 - Improving Disclosures for Investors Act of 2024 S 4371 - Empowering States to Protect Seniors from Bad Actors Act

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

Government targets: Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R.448: Putting Investors First Act H.R.4589 -To amend the Securities Exchange Act of 1934 to provide for the registration of proxy advisory firms H.R.4645 - To amend the Investment Advisers Act of 1940 with respect to proxy voting of passively managed funds, and for other purposes Investment policy related to surety bonding U.S. Securities and Exchange Commission (SEC) public company disclosure proposal including climate risk, cybersecurity, and stock buybacks Issues related to greenhouse gas emissions, net zero, and corporate climate policy Department of Labor Fiduciary Duty Rule

Client expense: $420,000 · Firm income: Not reported

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

Issues relating to shareholder proposals. SEC rules, proposals and guidance concerning governance, proxy and shareholder issues. Issues relating to Environmental, Social, and Governance (ESG) factors in investing and corporate governance. H.R. 448, Putting Investors First Act of 2023, all provisions.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 448 Proxy Advisory Firms **Issues lobbied without specific bill number: Climate Change Disclosures S. 1799 Proxy Advisory Firms H.R. 4589 Proxy Advisor Registration H.R. 4590 Proxy Advisor Firms H.R. 4628 Proxy Advisor Disclosure H.R. 4640 Proxy Advisor Disclosure H.R. 4641 Shareholder Proposals H.R. 4645 Proxy Voting H.R. 4662 Proxy Advisor Firm Study H.R. 4767 Proxy Advisor Firms H.R. 4790 Financial Disclosure H.R. 4655 Shareholder Proposals S. 3179 Shareholder Proposals H.R. 7030 Securities and Exchange Commission Rulemaking

Client expense: Not reported · Firm income: $44,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to regulation and oversight of proxy advisory firms and ESG investing; H.R. 4767 Protecting Americans' Retirement Savings from Politics Act; H.R. 448 Putting Investors First Act; S. 1799 Putting Investors First Act; H.R. 4664 The Financial Services and General Government Appropriations Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to regulation and oversight of proxy advisory firms and ESG investing; H.R. 4767 Protecting Americans' Retirement Savings from Politics Act; H.R. 448 Putting Investors First Act; S. 1799 Putting Investors First Act; H.R. 4664 The Financial Services and General Government Appropriations Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Banking Policy Impacting Emerging Companies Capital Formation Incentives ---H.R.368: American Innovation Act of 2023 ---H.R.448: Putting Investors First Act of 2023 ---H.R.835: Fair Investment Opportunities for Professional Experts Act ---H.R.1579: Accredited Investor Definition Review Act ---H.R.2608: To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes. ---H.R.2610: To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. ---H.R.2624: Helping Startups Continue to Grow Act ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.2792: Small Entity Update Act ---H.R.2797: Equal Opportunity for All Investors Act of 2023 ---H.R.2799: Expanding Access to Capital Act of 2023 ---H.R.7515: Infectious Disease Therapies Research and Innovation Act ---S.866: American Innovation and Jobs Act ---Implementation of the Inflation Reduction Act (IRA) of 2022 ---Net Operating Loss Advance Refunds Capital Market Enhancements ---Accredited Investor Definition ---Amended Definition of Smaller Reporting Company ---Market Liquidity Proposals ---Public Float Threshold Update ---SEC Small Business Forum Reform of SEC Regulation D ---Accredited Investor Certification Sarbanes Oxley Section 404 (b) ---Small Issuer Exemption Small Business Innovation Research (SBIR) Program ---Reauthorization of SBIR and STTR

Client expense: $1,760,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Biofuels (Non-Funding) ---Incentives for Sustainable Aviation Fuels ---Sustainable Aviation Fuels Tax Credit Capital Formation Incentives ---H.R.368: American Innovation Act of 2023 ---H.R.448: Putting Investors First Act of 2023 ---H.R.835: Fair Investment Opportunities for Professional Experts Act ---H.R.1579: Accredited Investor Definition Review Act ---H.R.2608: To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes. ---H.R.2610: To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. ---H.R.2624: Helping Startups Continue to Grow Act ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.2792: Small Entity Update Act ---H.R.2797: Equal Opportunity for All Investors Act of 2023 ---H.R.2799: Expanding Access to Capital Act of 2023 ---H.R.7515: Infectious Disease Therapies Research and Innovation Act ---S.866: American Innovation and Jobs Act ---Implementation of the Inflation Reduction Act (IRA) of 2022 ---Net Operating Loss Advance Refunds Coronavirus (COVID-19) Pandemic Orphan Drug Issues Qualified Small Business Stock (QSBS) Renewable Chemicals/Bio-based Products (Non-Funding) ---Climate Issues & impact on the agriculture, food, and forestry sectors ---Investment Tax Credit ---Production Tax Credit Research & Development Tax Credit Reforms ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.7024: Tax Relief for American Families and Workers Act of 2024 ---S.866: American Innovation and Jobs Act ---Expensing of R&D Expenditures Vaccine Injury Compensation Program ---FY 2024 Appropriations ---FY 2025 Appropriations ---H.R.7551: Let Injured Americans Be Legally Empowered (LIABLE) Act ---S.3810: Countermeasure Injury Compensation Fund Amendment Act ---H.R.5142: Vaccine Injury Compensation Modernization Act of 2023 ---H.R.5143: Vaccine Access Improvement Act of 2023 ---VICP CICP (Discussion Draft)

Client expense: $1,760,000 · Firm income: Not reported

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

Biofuels (Non-Funding) ---Incentives for Sustainable Aviation Fuels ---Sustainable Aviation Fuels Tax Credit Capital Formation Incentives ---H.R.368: American Innovation Act of 2023 ---H.R.448: Putting Investors First Act of 2023 ---H.R.835: Fair Investment Opportunities for Professional Experts Act ---H.R.1579: Accredited Investor Definition Review Act ---H.R.2608: To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes. ---H.R.2610: To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. ---H.R.2624: Helping Startups Continue to Grow Act ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.2792: Small Entity Update Act ---H.R.2797: Equal Opportunity for All Investors Act of 2023 ---H.R.2799: Expanding Access to Capital Act of 2023 ---H.R.7515: Infectious Disease Therapies Research and Innovation Act ---S.866: American Innovation and Jobs Act ---Implementation of the Inflation Reduction Act (IRA) of 2022 ---Net Operating Loss Advance Refunds Coronavirus (COVID-19) Pandemic Orphan Drug Issues Qualified Small Business Stock (QSBS) Renewable Chemicals/Bio-based Products (Non-Funding) ---Climate Issues & impact on the agriculture, food, and forestry sectors ---Investment Tax Credit ---Production Tax Credit Research & Development Tax Credit Reforms ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.7024: Tax Relief for American Families and Workers Act of 2024 ---S.866: American Innovation and Jobs Act ---Expensing of R&D Expenditures Vaccine Injury Compensation Program ---FY 2024 Appropriations ---FY 2025 Appropriations ---H.R.7551: Let Injured Americans Be Legally Empowered (LIABLE) Act ---S.3810: Countermeasure Injury Compensation Fund Amendment Act ---H.R.5142: Vaccine Injury Compensation Modernization Act of 2023 ---H.R.5143: Vaccine Access Improvement Act of 2023 ---VICP CICP (Discussion Draft)

Client expense: $1,760,000 · Firm income: Not reported

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

Banking Policy Impacting Emerging Companies Capital Formation Incentives ---H.R.368: American Innovation Act of 2023 ---H.R.448: Putting Investors First Act of 2023 ---H.R.835: Fair Investment Opportunities for Professional Experts Act ---H.R.1579: Accredited Investor Definition Review Act ---H.R.2608: To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes. ---H.R.2610: To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. ---H.R.2624: Helping Startups Continue to Grow Act ---H.R.2673: American Innovation and R&D Competitiveness Act ---H.R.2792: Small Entity Update Act ---H.R.2797: Equal Opportunity for All Investors Act of 2023 ---H.R.2799: Expanding Access to Capital Act of 2023 ---H.R.7515: Infectious Disease Therapies Research and Innovation Act ---S.866: American Innovation and Jobs Act ---Implementation of the Inflation Reduction Act (IRA) of 2022 ---Net Operating Loss Advance Refunds Capital Market Enhancements ---Accredited Investor Definition ---Amended Definition of Smaller Reporting Company ---Market Liquidity Proposals ---Public Float Threshold Update ---SEC Small Business Forum Reform of SEC Regulation D ---Accredited Investor Certification Sarbanes Oxley Section 404 (b) ---Small Issuer Exemption Small Business Innovation Research (SBIR) Program ---Reauthorization of SBIR and STTR

Client expense: $1,760,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 448, Putting Investors First Act of 2023 H.R. 500, Financial Exploitation Prevention Act of 2023 H.R. 760, Chinese Military and Surveillance Company Sanctions Act of 2023 H.R. 1807, Improving Disclosure for Investors Act of 2023 H.R. 2627, Increasing Investor Opportunities Act H.R. 2799, Expanding Access to Capital Act of 2023 H.R. 3063, Retirement Fairness for Charities and Educational Institutions Act of 2023 H.R. 3812, Financial Stability Oversight Council Improvement Act of 2023 H.R. 4168, Mandatory Materiality Requirement Act of 2023 H.R. 4237, Ensuring Sound Guidance Act H.R. 4600, Protecting Retail Investors Savings Act H.R. 4645, Empowering Shareholders Act of 2023 H.R. 4767, Protecting Americans Retirement Savings from Politics Act H.R. 4790, GUARDRAIL Act of 2023 H.R. 6783, Capital Markets Financing and Economic Growth Investments Act of 2023 H.R. 7030, Review the Expansion of Government Act of 2024 SEC Regulatory Accountability Act S. 1481, Financial Exploitation Prevention Act of 2023 S. 1799, Putting Investors First Act of 2023 S. 2005, Mandatory Materiality Requirement Act of 2023 S. 2700, INDEX Act S. 3601, Financial Stability Oversight Council Improvement Act of 2024 S. 3735, Protecting Innovation in Investment Act S. 3815, Improving Disclosure for Investors Act of 2024 General concerns regarding the volume, interconnectedness, and length of comment periods of SEC proposals SEC mandatory swing pricing, hard close, and liquidity risk management proposal SEC predictive data analytics proposal Streamline and modernize the SEC staff no-action letter/guidance and exemptive order process

Client expense: $1,320,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 448, Putting Investors First Act of 2023 H.R. 835, Fair Investment Opportunities for Professional Experts Act H.R. 1010/S. 453, Prohibiting IRS Financial Surveillance Act H.R. 1410, Consumer Financial Protection Commission Act H.R. 1548, Improving Access to Small Business Information Act H.R. 1553, Helping Angels Lead our Startups (HALOS) Act H.R. 1579, Accredited Investor Definition Review Act H.R. 2608, To amend the Federal securities laws to specify the periods for which financial statements are required to be provided by an emerging growth company, and for other purposes H.R. 2610, To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes H.R. 2612, Gig Worker Equity Compensation Act H.R. 2627, Increasing Investor Opportunities Act H.R. 2652, Investment Opportunity Expansion Act H.R. 2792, Small Entity Update Act H.R. 2793, Encouraging Public Offerings Act of 2023 H.R. 2795, Enhancing Multi-Class Share Disclosures Act H.R. 2796, Promoting Opportunities for Non-Traditional Capital Formation Act H.R. 2797, Equal Opportunity for All Investors Act H.R. 2798, CFPB Transparency and Accountability Reform Act H.R. 2799, Expanding Access to Capital Act of 2023, H.R. 2812, Middle Market IPO Underwriting Cost Act H.R. 3063, Retirement Fairness for Charities and Educational Institutions Act H.R. 3466, To enhance Financial Stability Oversight Council transparency H.R. 3812/S. 3601, Financial Stability Oversight Council Improvement Act of 2023 H.R. 4035, Protecting Small Business Information Act of 2023 H.R. 4168/S. 2005, Mandatory Materiality Requirement Act of 2023 H.R. 4177/S. 2007, Improving Corporate Governance Through Diversity Act of 2023 H.R. 4366, Consolidated Appropriations Act, 2024, including provisions related to Senate Amendment 1217 and Senate Amendment 1092 H.R. 4664/S. 2309, Making appropriations for financial services and general government for the fiscal year ending September 30, 2024, and for other purposes H.R. 4823, American Financial Institution Regulator Sovereignty and Transparency Act H.R. 5488/S. 2805, Protecting Our Courts from Foreign Manipulation Act of 2023 H.R. 7000/S. 3592, Business of Insurance Regulatory Reform Act of 2024 H.R. 7092/S. 3676, Protecting Private Job Creators Act S. 638, Disclosure of Tax Havens and Offshoring Act S. 3735, Protecting Innovation in Investment Act H.J.Res.100 / S.J.Res.50, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure" Draft legislation titled Accredited Investor Self-Certification Act Potential legislation on environmental, social, and governance Potential legislation to reform the Securities and Exchange Commission Potential legislation related to the Foreign Agents Registration Act Potential legislation similar to H.R. 5598, Access to Small Business Investor Capital Act Potential legislation similar to H.R. 2025/S. 840, Litigation Funding Transparency Act SEC Proposed Rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors (87 Fed. Reg. 21,334-21,473, April 11, 2022) Proposed Rule, Securities and Exchange Commission; Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (87 Fed. Reg. 77,172-77,296, December 16, 2022) SEC Final Rule on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure (88 Fed. Reg. 51,896-51,945, September 5, 2023) SEC Proposed Rule on Changes to 14a-8 (87 Fed. Reg. 45,052-45,075, July 27, 2022) SEC Final Rule on Share Repurchase Disclosure Modernization (88 Fed. Reg. 36,002-36,063, July 31, 2023) Proposed Rule, FSOC Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies, Proposed Interpretive Guidance (88 Fed. Reg. 26,234-26,244, April 28, 2023) Proposed Rule, FSOC Analytic Framework for Financial Stability Risk Identification, Assessment, and Response, Proposed Analytic Framework (88 Fed. Reg. 26,305-26,311, April 28, 2023) Proposed Rule, Securities and Exchange Commission; Conflicts of Interest Associated with the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers (88 Fed. Reg. 53,960- 54,024, August 9, 2023) Proposed Rule, Public Company Accounting Oversight Board; Amendments to PCAOB Auditing Standards related to a Companys Noncompliance with Laws and Regulations (PCAOB Release No. 2023-003/PCAOB Rulemaking Docket Matter No. 051, June 6, 2023) Notice and Request for Comment, Consumer Financial Protection Bureau; Agency Information Collection Activities (89 Fed. Reg 4,281-4,282, January 23, 2024) Proposed Rule, Consumer Financial Protection Bureau; Defining Larger Participants of a Market for General Use Digital Consumer Payment Applications (88 Fed. Reg. 80,197-80,216, November 17, 2023) Various issues relating to SEC Best Interest and Enhancing Investment Adviser Regulation relating to broker-dealers, registered investment advisers, conflicts of interest; potential federal preemption of state fiduciary standards; CFTCs de minimis Exception for Swap Dealers; Securities and Exchange Commission amendments to the Commissioners whistleblower rules file no. S7-16-18; proxy process, proxy advisory firms, and other related aspects of corporate governance; corporate common ownership; adoption of the current expected credit loss (CECL) accounting standard; role of credit reporting agencies (CRAs) in the U.S. economy; debt collection practices (regulation F) under the Fair Debt Collection Practices Act (P.L. 95-109); qualified mortgage definition under the Truth in Lending Act (P.L. 90-321) (Regulation Z); Financial Stability Oversight Council activities, including the approach to and designation of systemic importance and risk of nonbank financial companies and firms; Federal Reserve Systems Large Institution Supervision Coordinating Committee; potential housing finance reform legislation; enforcement of Securities and Exchange Commission penalties; federal interest rate authority; Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) reform; electronic consent-based SSN Verification Service (eCBSV); environmental, social, and governance (ESG) enforcement; information collection under the Community Reinvestment Act (CRA) (P.L. 95-128); potential Financial Transaction Tax (FTT); potential Treasury Department proposal relating to tax reporting by banks; investment company cross trading; potential money market fund reform measures; transition to the secured overnight financing rate; implementation of SEC Rule 15c2-11; Department of Labor fiduciary advice exemption: PTE 2020-02; benefits of risk-based pricing; mobile disclosures; modernization of the Credit Repair Organizations Act (enacted as Title IV of the Consumer Credit Protection Act, P.L. 90-321); Internal Revenue Service Priority Guidance Plan; Federal Trade Commission issues: Freedom of Information Act Requests, Penalty Offense Authority, Zombie Voting, and overall direction of the Commission under Chair Lina Khan; Financial Accounting Standards Board improvements to income tax disclosures; Climate-Related Financial Risk Management for Large Banks; Consumer Financial Protection Bureau (CFPB) regulatory sandbox for disclosures; CFPB Policy Fellowship program; CFPB amendment of its Supervision and Examination Manual; CFPB conflation of Distinct Statutory Concepts of Unfairness and Discrimination; CFPB Small Business Advisory Review Panels Rulemaking on Personal Financial Data Rights; CFPB implementation of the Small Business Lending Data Collection Rule (the 1071 Rule); SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting (File Number S7-26-22); Proposed Rule, Securities and Exchange Commission; Conflicts of Interest Associated with the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers (SEC Rel. Nos. 34-97990; IA-6353; File No. S7-12-23, July 26, 2023); Proposing Release: Amendments to PCAOB Auditing Standards related to a Companys Noncompliance with Laws and Regulations; Federal Deposit Insurance Corporation Proposal on Corporate Governance and Risk Management; Basel III Endgame Rule; EU sustainable finance action plan and incorporating ESG factors into financial services; potential regulations to require public companies to disclose information related to human capital management; reporting metrics of American companies under the EUs Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive; reporting metrics of American companies under the California climate disclosure laws; interconnectedness of the SECs rulemaking agenda; potential rulemaking regarding Section 956 of the Dodd-Frank Act (P.L. 111-203); SEC Staff Report Review of the Accredited Investor Definition under the Dodd Frank Act; oversight issues and potential legislation on third party litigation funding (including its national security implications)

Client expense: $23,370,000 · Firm income: Not reported

Government targets: Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 448 Proxy Advisory Firms **Issues lobbied without specific bill number: Climate Change Disclosures S. 1799 Proxy Advisory Firms H.R. 4589 Proxy Advisor Registration H.R. 4590 Proxy Advisor Firms H.R. 4628 Proxy Advisor Disclosure H.R. 4640 Proxy Advisor Disclosure H.R. 4641 Shareholder Proposals H.R. 4645 Proxy Voting H.R. 4662 Proxy Advisor Firm Study H.R. 4767 Proxy Advisor Firms H.R. 4790 Financial Disclosure H.R. 4655 Shareholder Proposals S. 3179 Shareholder Proposals H.R. 7030 Securities and Exchange Commission Rulemaking

Client expense: $1,490,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R.448, Putting Investors First Act of 2023 General discussions related to export controls international trade and sanctions. National Defense Authorization Act for Fiscal Year 2020, (P.L. 116-92), including provisions relating to sanctions. Discussions related to proposals to facilitate and promote competitive financial services markets. Discussions on insourcing and foreign direct investment. Support of House Global Investment Caucus. General discussions in support of covered agreements. General discussions related to a U.S. Swiss FTA. General discussions related to rebuilding Ukraine. Monitored developments related to U.S. sanctions activity.

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

Government targets: Commerce, Dept of (DOC), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

H.R. 448 Proxy Advisory Firms **Issues lobbied without specific bill number: Climate Change Disclosures S. 1799 Proxy Advisory Firms H.R. 4589 Proxy Advisor Registration H.R. 4590 Proxy Advisor Firms H.R. 4628 Proxy Advisor Disclosure H.R. 4640 Proxy Advisor Disclosure H.R. 4641 Shareholder Proposals H.R. 4645 Proxy Voting H.R. 4662 Proxy Advisor Firm Study H.R. 4767 Proxy Advisor Firms H.R. 4790 Financial Disclosure H.R. 4655 Shareholder Proposals S. 3179 Shareholder Proposals H.R. 7030 Securities and Exchange Commission Rulemaking

Client expense: Not reported · Firm income: $44,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE