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Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
95pct
215d open
vs 10,940 other HR bills in the 119th — cohort avg 30d
Increasing Investor Opportunities Act This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase its investment in private investment funds. Specifically, the Securities and Exchange Commission is prohibited from limiting the sale or listing of securities of a closed-end fund that invests in private investment funds. This bill also apples to a closed-end company treated as a business development company.
Yes
781
No
931
Present
0
Not Voting
36
Party Breakdown
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by recorded vote: 302 - 123 (Roll no. 328).
HousePassed/agreed to in House: On passage Passed by recorded vote: 302 - 123 (Roll no. 328).
HouseThe House adopted the amendments en gros as agreed to by the Committee of the Whole House on the state of the Union.
The previous question was ordered pursuant to the rule.
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3383.
The House resolved into Committee of the Whole House on the state of the Union for further consideration.
Considered as unfinished business. (consideration: CR H5790-5793)
Bills with similar content found using semantic analysis.
Sources: Congress.gov · House Clerk roll-call votes
| #326 | house | On Agreeing to the Amendment | Failed | December 11, 2025 |
| #325 | house | On Agreeing to the Amendment | Failed | December 11, 2025 |
| #328 | house | On Passage | Passed | December 11, 2025 |
| #327 | house | On Agreeing to the Amendment | Failed | December 11, 2025 |
2026 · third_quarter · Financial Institutions/Investments/Securities
S. 1877/H.R. 2441 - Improving Disclosures for Investors Act of 2025 H.R. 4538 - the Paper Act H.R. 3383 the INVEST Act
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)
2026 · third_quarter · Retirement
H.R. 2696 - Retirement Savings for Americans Act of 2025 H.R. 3383 - Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 H.R. 4548 - Small Nonprofit Retirement Security Act H.R. 8837 - Retirement Investment in Small Employers Act S. 424 - Retirement Fairness for Charities and Educational Institutions Act of 2025 S. 1526 - Retirement Savings for Americans Act of 2025 S. 1840 - Retirement Investment in Small Employers Act
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Issues related to retirement security and savings matters; issues related to SEC and DOL rulemaking, including standards of conduct and associated regulatory activity; issues related to modernization of the accredits investor definition, e delivery reforms, and the firm's broader support for the Invest Act; issues related to the Edward Jones ILC and banking services matters; issues related to senior investor protection and initiatives aimed at improving financial education; H.R. 3383 - Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025.
Client expense: $690,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Retirement
HR 3383 -- Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025 -- expand access to capital and investment opportunities HR 10039/S 5204 -- SMART Savings Act -- modernize Individual Retirement Account (IRA) regulations and remove IRAs from Department of Labor (DOL) prohibited transaction rules HR 1013/S 424 -- Retirement Fairness for Charities and Educational Institutions Act of 2025 - allow 403b plans to invest in CITs and insurance separate account products HR 2696 -- Retirement Savings for Americans Act -- establish federally supported retirement savings accounts for workers who lack access to employer-sponsored retirement plans. HR 9515 (117th) -- General Accounts Product Clarifications Act -- specifies requirements for the application of the ERISA to general account policies that receive contributions from employee benefit plans HR 3942 (118th) -- Lifetime Income for Employees Act - enable use of lifetime income options within workplace retirement plans HR 6324/S 5156 -- Retirement Simplification and Clarity Act -- expand in-service rollover options by allowing individuals aged 50 and older to roll over their employee-sponsored 401(k) savings into an annuity. Issue -- Proposed Rule -- DOL Fiduciary Duties In Selecting Designated Investment Alternatives Monitoring Department of Labor -- guidance affecting fiduciary responsibilities when selecting retirement plan investment options HR 6450/S 3352 -- Retirement Rollover Flexibility Act -- allow workers to roll over savings from a Roth IRA directly into a designated Roth account within a workplace retirement plan HR 6722 -- Automatic IRA Act of 2025 -- require employers without retirement plans to facilitate automatic payroll-deduction IRAs for employees.
Client expense: $380,000 · Firm income: Not reported
2026 · third_quarter · Financial Institutions/Investments/Securities
Issues related to asset management and money market funds. P.L. 119-25, GENIUS Act. H.R. 3633, Digital Asset Market Clarity Act of 2025. H.R. 2089, Generating Retirement Ownership through Long-Term Holding. H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025.
Client expense: Not reported · Firm income: $40,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Committee of the Whole House on the state of the Union rises leaving H.R. 3383 as unfinished business.
On motion that the committee rise Agreed to by voice vote.
Mrs. Wagner moved that the committee rise.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment No. 5, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Ms. Waters demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 5.
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 4.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment No. 3, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Ms. Waters demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 3.
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Self amendment No. 2.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Self amendment No. 1, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Mr. Self demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Self amendment No. 1.
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3383.
The Speaker designated the Honorable James C. Moylan to act as Chairman of the Committee.
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 936 and Rule XVIII.
Rule provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, H.R. 3668 and S. 1071. The resolution provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, and H.R. 3628 under a structured rule; and H.R. 3668 and S. 1071 under a closed rule. The resolution provides for one motion to recommit on H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, and H.R. 3668; and one motion to commit on S. 1071.
Considered under the provisions of rule H. Res. 936. (consideration: CR H5534-5555; text: CR H5540-5546)
Rules Committee Resolution H. Res. 936 Reported to House. Rule provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, H.R. 3668 and S. 1071. The resolution provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, and H.R. 3628 under a structured rule; and H.R. 3668 and S. 1071 under a closed rule. The resolution provides for one motion to recommit on H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, and H.R. 3668; and one motion to commit on S. 1071.
Placed on the Union Calendar, Calendar No. 135.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-169.
Congress.gov source codes: 5000, H12200
Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 10.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Congress.gov source codes: 1000, Intro-H
| House |
| Referred To |
| May 14, 2025 |
| May 14, 2025 |
| Democratic |
| NY |
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
H.R. 2225/S. 1808, Access to Small Business Investor Capital Act, all provisions. H.R 3383, Increasing Investor Opportunities Act, provisions related to BDCs, closed-end funds and accredited investor expansion. Issues related to Interval Fund Modernization, private credit and private equity funds
Client expense: $110,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)
2026 · third_quarter · Financial Institutions/Investments/Securities
Issues related to investment management regulation including exchange-traded funds, mutual funds, money market funds, private markets, digital assets and proxy voting. Retirement and savings reform. Retirement Fairness for Charities and Educational Institutions Act (H.R. 3063 /S.4917) and Increasing Investor Opportunities Act (H.R. 2627). Incentivizing New Ventures and Economic Strength Through (INVEST) Capital Formation Act (H.R.3383).
Client expense: $390,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)
2026 · third_quarter · Financial Institutions/Investments/Securities
H.R. 1483 - Protecting Investors Personally Identifiable Information Act; entire bill H.R. 2441 - Improving Disclosures for Investors Act; entire bill H.R. 2689 - Restoring Accountability in Market Supervision (RAMS) Act; entire bill H.R. 3383 - Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 INVEST Act of 2025 (INVEST) H.R. 3633 - CLARITY Act of 2025 (entire bill) & Senate amendments to H.R. 3633 CLARITY Act of 2025 H.R. 7187 - Clarity for Compensation Act; entire bill H.R. 8338 - Safeguarding Americans Fairly Earned Retirement Act of 2026 (SAFER); entire bill H.R. 8398 - Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act (GUARD); entire bill H.R. 8413 - Securing and Establishing Consumer Uniform Rights and Enforcement over Data Act (SECURE Data) Act; entire bill H.R. 9434 - Reviewing the Expansion of Government Act of 2026 (REG Act) of 2026; entire bill H.R. 9574 - Informed Investor Access Act; entire bill S. 658 - Protecting Investors Personally Identifiable Information Act; entire bill S. 1877 - Improving Disclosures for Investors Act; entire bill S. 3671 - Increasing Investor Opportunities Act; entire bill S. 4784 - National Defense Authorization (NDAA); Section 815, Corporate capital distribution policies, including share repurchases and dividends restrictions Not Yet Introduced: issues related to Health Savings Accounts
Client expense: $340,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Retirement
S.4917, Monitor Accountability Act, Entirety H.R.3383, INVEST Act, Entirety S.4979, Protecting Retirement Opportunities and Maintaining Income Security for Everyone Act, Entirety H.R.3289/S.4012, Fiscal Commission Act, Entirety H.R.9415/S.3462, SAE Social Security Act, Entirety S.5456, Stop Social Security Garnishment Act of 2026 Limiting private equity and CRYPTO in 401(k) and Pension plans, Draft legislation Social Security Benefits Restoration Act, Entirety Monitor the following: Fiduciary duties in selecting investment alternatives, Department of Labor ruling/Executive Order 14330 No Crypto in Social Security Act, Entirety Keeping our field office open act, Entirety Protecting America's Social Security Data Act, Entirety Fiduciary Duty Rule related issues Teacher retirement and pension related issues H.R.6424/S.3357, Social Security Survivor Benefits Equity Act, Entirety Pension, ESG related issues
Client expense: $420,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Capital Markets reform related issues H.R.3383, INVEST Act, Entirety H.R.3633, Digital Asset Market Clarity Act, Entirety H.R.8899, Digital Asset PARITY Act, Entirety H.R.10357, Digital Asset Tax Certainty Act, Entirety Monitor the following: H.R.3849/S.1803, STABLE GENIUS Act, Entirety Securities and Exchange Commission (SEC), Proposed Amendments, Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
Client expense: $420,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Issues related to mutual fund industry, HR 3682 and HR 3383 Invest Act, and digital assets taxation.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025, Section 205; S. 1877/H.R. 2441, Improving Disclosure for Investors Act of 2025: H.R. 8338, the Safeguarding Americans Fairly Earned Retirement (SAFER) Act; H.R. 7187, the Clarity for Compensation Act; RIN: 3235-AN57, Electronic Delivery of Information Under the Federal Securities Laws; RIN: 3235-AL55, Transfer Agent Rules; SEC Notice 2026-14262, Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FINRA Rule 1210 (Registration Requirements); RIN: 3235-AN65, Proposed Rescission of Political Contributions by Certain Investment Advisers Rule.
Client expense: $370,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES
H.R. 1777 / S. 1561 - Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2025 S. 1208 - Privacy Act Modernization Act of 2025 Issues related to the regulation of nonbank financial institutions H.R. 3383 - INVEST Act H.R. 7187 - Clarity for Compensation Act Comment Letter to SEC re: E-Delivery File No. S7-2026-25 / RIN 3235-AN57 Comment Letter to Treasury re: Employer Contributions to Trump Accounts RIN1545-BS19 Joint Trades CEO Letter to Senate Banking Committee re: 403b-CIT Legislation Issues related to SEC Rule 206(4)-5
Client expense: $590,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Retirement
H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 H.R. 8338, Safeguarding Americans Fairly Earned Retirement (SAFER) Act of 2026
Client expense: $16,480,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
H.R. 1013/S. 424, Retirement Fairness for Charities and Educational Institutions Act of 2025 H.R. 1109, Litigation Transparency Act of 2025, and potential amendments thereto H.R. 1190/S. 577, Expanding Access to Capital for Rural Job Creators Act H.R. 1467/S. 4055, Senior Security Act of 2026 H.R. 1469, Senior Security Act of 2025 H.R. 1799, Financial Reporting Threshold Modernization Act H.R. 2225/S. 1808, Access to Small Business Investor Capital Act H.R. 2441/S. 1877, Improving Disclosure for Investors Act of 2025 H.R. 2675/S. 3180, Protecting Our Courts From Foreign Manipulation Act of 2025 H.R. 3301, ELEVATE Act of 2025 H.R. 3339, Equal Opportunity for All Investors Act of 2025 H.R. 3343, Greenlighting Growth Act of 2025 H.R. 3351, Improving Access to Small Business Information Act H.R. 3352, HALOS Act of 2025 H.R. 3381, Encouraging Public Offerings Act of 2025 H.R. 3382/S. 2924, Small Entity Update Act H.R. 3383/S. 3671, Increasing Investor Opportunities Act H.R. 3394, Fair Investment Opportunities for Professional Experts Act H.R. 3512/S. 1821, Tackling Predatory Litigation Funding Act H.R. 3645, ACCESS Act of 2025 H.R. 3673, Small Business Investor Capital Access Act H.R. 3682/S. 3578, Financial Stability Oversight Council Improvement Act of 2025 H.R. 3959, Protecting Private Job Creators Act H.R. 4171, Small Entrepreneurs Empowerment and Development (SEED) Act of 2025 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. 4735, Business of Insurance Regulatory Reform Act H.R. 5484, National Flood Insurance Program Reauthorization and Reform Act of 2025 H.R. 6955, Main Street Capital Access Act H.R. 7056, Community Bank Regulatory Tailoring Act H.R. 7085, To repeal certain disclosure requirements related to conflict minerals H.R. 7127, Restoring Secondary Market Trading Act H.R. 7128, Terrorism Risk Insurance Act of 2026 H.R. 8286, Protecting Americans' Retirement Savings From Politics Act H.R. 8338, Safeguarding Americans Fairly Earned Retirement Act of 2026 H.R. 9385/S. 985, Prevent Regulatory Overreach from Turning Essential Companies into Targets (PROTECT USA) Act of 2026 S. 2419, Business of Insurance Regulatory Reform Act of 2025 S. 3772, Export-Import Bank Reauthorization Act of 2026 S. 4395, Terrorism Risk Insurance Program Reauthorization Act of 2026 S. 4784, National Defense Authorization Act for Fiscal Year 2027, including provisions relating to section 815 and section 804 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. 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. 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. 6623/S. 2068, Main Street Growth Act Potential legislation similar to S. 5139, Empowering Main Street in America Act (EMSAA) of 2024 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; Potential legislation, the Informed Investor Access Act, to amend the definition of accredited investor to include individuals receiving advice from certain professionals, and for other purposes SEC Proposed Rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors (87 Fed. Reg. 21,334-21,473, April 11, 2022) SEC Proposed Rule on Publication or Submission of Quotations Without Specified Information (91 Fed. Reg. 13,243-13,263, March 19, 2026) SEC Proposed Rule on the Rescission of Climate-Related Disclosure Rules (91 Fed. Reg. 33,296-33,345, June 3, 2026) SEC Proposed Rule on Semiannual Reporting (91 Fed. Reg. 24,968-25,058, May 7, 2026) FSOC Proposed Interpretive Guidance on the Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies (91 Fed. Reg. 15,551-15,566, March 30, 2026) SEC Proposed Rule on Electronic Delivery of Information Under Federal Securities Laws (Regulation E-Delivery) (91 Fed. Reg. 45,884-45,989, July 21, 2026) SEC Proposed Rule on Political Contributions by Certain Investment Advisers (Pay-to-Play) (File No. S7-2026-31, September 3, 2026), concerning amendments to Rule 206(4)-5 under the Investment Advisers Act (91 Fed. Reg. 57,689-57,726, September 10, 2026) Various issues relating to potential housing finance reform legislation; Basel III Endgame Rule; Export-Import Bank of the United States; implementation of the One Big Beautiful Bill Act, (P.L. 119-21); proxy process and shareholder proposal system overseen by SEC; antifraud accountability; discussion draft to reform the Consumer Financial Protection Bureau (CFPB); implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, (P.L. 111-203); implementation of the Fair Credit Reporting Act (P.L. 91-508); implementation of the Administrative Procedure Act (P.L. 79-404); development and deployment of artificial intelligence (AI) in financial services, including how to develop comprehensive frameworks for responsible AI governance, as it relates to expanding financial access, risk management, and fraud detection; 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 14366, Protecting American Investors from Foreign-Owned and Politically-Motivated Proxy Advisors; 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); potential policy from SEC on electronic delivery of investor disclosure information; capital formation policy to expand access to capital for small businesses, strengthen public markets, and increase opportunities for investors; SEC proposal for an Innovation Exemption for Tokenized Securities; request for comment from SEC on potential revisions to Reg S-K; reforms to SEC litigation reform (event driven claims, risk factor discussions, abusive private litigation associated with Section 10(b) and Rule 10b-5(a) and (c)); oversight issues and potential legislation on third party litigation funding, including its national security implications; potential securities litigation reform; Regulation S-K; general background on oversight issues
Client expense: $16,480,000 · 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)
2026 · third_quarter · Financial Institutions/Investments/Securities
Issues related to the financial services and asset management industry. HR 3383, The INVEST Act H.R. 2089, Generating Retirement Ownership through Long-Term Holding (GROWTH) Act H.R. 3682, the Financial Stability Oversight Council Improvement Act of 2025
Client expense: Not reported · Firm income: $40,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
HR 2441-Improving Disclosure Act; HR 3383 Invest Act
Client expense: $380,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Lobbied on HR 2441, Improving Disclosure for Investors Act. HR 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES
2026 · third_quarter · Financial Institutions/Investments/Securities
Implementation of SEC's expanded accredited investor definition. H.R.3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 (INVEST Act), all provisions.
Client expense: Not reported · Firm income: $10,000
Government targets: Commerce, Dept of (DOC), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
S. 424, Retirement Fairness for Charities and Educational Institutions Act of 2025 S. 1808, Access to Small Business Investor Capital Act S. 1877, Improving Disclosure for Investors Act of 2025 S. 2840, Financial Exploitation Prevention Act of 2025 S. 3578, Financial Stability Oversight Council Improvement Act of 2025 S. 3671, Increasing Investor Opportunities Act H.R. 2478, Financial Exploitation Prevention Act of 2025 H.R. 3383, INVEST Act (Sections 202, 205, 206, 302) H.R. 3633, Digital Asset Market Clarity Act of 2025 H.R. 3682, Financial Stability Oversight Council Improvement Act of 2025 H.R. 8338, SAFER Act of 2026 Artificial Intelligence Data Privacy Escheatment of securities / Third-party Auditors Investment Company Act of 1940 modernization Proxy process reform SEC and CFTC Statutory Disqualifications SEC Political Contributions Rule Tokenization
Client expense: $1,511,303 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)
2026 · third_quarter · Financial Institutions/Investments/Securities
H.R. 2225/S. 1808, Access to Small Business Investor Capital Act H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 H.R. 3633, Digital Asset Market Clarity Act of 2025 H.R. 3682/S. 3578, Financial Stability Oversight Council Improvement Act of 2025 H.R. 5748, Retirement Investment Choice Act H.R. 6161, SEC Data Protection Act Regulation and oversight of investment advisers and companies. Equity market structure. Capital formation. Treasury markets. Private credit. Protection for sensitive and proprietary data. AML/beneficial ownership. Investment screening. Nonbank regulation. Systemic risk regulation. Expanding access to alternative investments. Digital assets and cryptocurrencies. Artificial intelligence.
Client expense: $1,130,000 · Firm income: Not reported
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Small Business
Good Government White House Conference on Small Business Act, H.R. 6855: Support action by U.S. House to advance the legislation. DME Scammer Prevention Act of 2026, H.R. 8871: Support the legislation and advancement through House Ways and Means Committee. Preventing Waste, Fraud and Abuse in TANF Act, H.R. 8872: Support the legislation and advancement through House Ways and Means Committee. Protecting Seniors and Stopping Fraudsters Act, H.R. 8883: Support the legislation and advancement through House Ways and Means Committee. Recover COVID Unemployment Fraud in Banks Act, H.R. 8873: Support the legislation and advancement through House Ways and Means Committee. Workforce Issues Valuing Employee Stock Today Act, H.R.8660: Support the legislation. Workforce Apprenticeship Growth and Education Support (WAGES) Act, H.R. 8624 and S. 4463: Support the legislation. Empowering Employer Child and Elder Care Solutions Act, H.R. 2270: Continue to support U.S. House passage of the bill. Working Families Flexibility Act, H.R. 2870: Continue to support full U.S. House passage of the bill. Tipped Employee Protection Act, H.R. 2312: Continue to support U.S. House passage of the bill. Access to Capital: INVEST Act, H.R. 3383: Continue to support U.S. Senate passage of this Housed-passed bill. Comments to Securities and Exchange Commission: Submitted comments in in support of a petition to raise the Regulation Crowdfunding offering limit to $20 million. Tax Policy Small Business Tax Cut Act, H.R. 8415: Support the legislation. Indexing Capital Gains Tax Liability to Inflation: Support legislative or administrative action to make this reform. More Homes on the Market Act, H.R. 1340, S.3332: Support the legislation. American Innovation Act, H.R. 1778, S. 4207: Support the legislation. Business Startup & Growth SAVE Local Businesses Act, H.R. 4366: Support U.S. House passage of the bill. New Opportunities for Business Ownership and Self-Sufficiency Act (NO BOSS Act), H.R. 6431: Supported U.S. House passage of the legislation and U.S. Senate introduction of the legislation. American Innovation Act, H.R. 1778, S. 4207: Support the legislation. AI and Technology Continue to voice restraint on excessive regulatory frameworks or actions that would undermine what is a critical new technology for small businesses. Comments to Federal Trade Commission: Submitted comments on the Proposed Enforcement Policy Statement Regarding Personalized Pricing, expressing concerns about the scope of the proposal the proposed frameworks misunderstanding of how dynamic and data-driven pricing tools are utilized by small businesses, and therefore how it would negatively impact their competitiveness and growth. AI Education: Continue to brief congressional staff on the benefits of AI to small businesses and startups as conveyed through SBE Council research and surveys. American Innovation and Choice Online Act (AICOA). S. 4746: Continue to oppose the legislation. Regulatory Modernization and Reform Guidance Out of Darkness (GOOD) Act (H.R. 1515): Urged Senate to advance House-passed bill. Bipartisan American Affordability and Jobs Act: Support the Senate introduced legislation. Latest Action on CTAs BOI Rule: Expressed support for the U.S. Department of the Treasury and Financial Crimes Enforcement Network (FinCEN) step in finalizing its rule ending the Beneficial Ownership Information (BOI) reporting mandate for U.S. businesses and individuals under the Corporate Transparency Act (CTA), and for taking the important additional step of deleting previously submitted information pertaining to U.S. persons. Comments to Small Business Administration: Submitted comments on the SBAs Proposed Small Business Size Standards, expressing support for modernization but a reconsideration of aspects of the methodology that could unintentionally disadvantage the very firms SBA exists to serve. Comments to Securities and Exchange Commission: Submitted comments in support of the Proposed Rule on Semiannual Reporting. NEPA Modernization: Expressed support for the Federal Communications Commissions vote to modernize its National Environmental Policy Act (NEPA) rules and streamline permitting for communications infrastructure. Packaging and Claims Knowledge Act (PACK Act), H.R. 6832: Support the legislation. Information Quality Assurance Act (H.R. 6329): Urged Senate to advance House-passed bill. ESA Amendments Act, H.R. 1897: Continue to support U.S. House passage of the bill. Prove It Act of 2025, H.R. 1163: Continue to support full U.S. House action and passage of the bill. Reducing and Eliminating Duplicative Environmental Regulations (RED Tape) Act, H.R. 6398: Supported House passage of the legislation and Senate action. Standardizing Permitting and Expediting Economic Development Act (SPEED Act), H.R. 4776: Continue to support Senate action on House-passed bill. Promoting Efficient Review for Modern Infrastructure Today (PERMIT) Act, H.R. 3898: Continue to support Senate action on House-passed bill. Repealing Big Brother Overreach Act, H.R. 425: Continue to support the legislation. Nominations Supported the nomination and confirmation of Keith Sonderling as U.S. Labor Department Secretary. Government Reform and Operations Tax Relief for Fraud Victims Act, H.R. 9500: Supported U.S. House passage of the legislation. AI Tax Integrity Act of 2026, H.R. 9501: Support full U.S. House passage of the legislation. Taxpayer Advocate Participation Act, H.R. 9498: Supported U.S. House passage of the legislation. Taxpayer Assistance and Service Act. S. 3931: Support full U.S. Senate passage of the legislation. Taxpayer Due Process Enhancement Act, H.R. 6506: Support U.S. Senate action on the House-passed bill. Taxpayer Notification and Privacy Act, H.R. 6495: Continue to support U.S. Senate action on the House-passed bill. Healthcare and Affordable Health Coverage HSAs For All Act, H.R. 7681: Continue to support the legislation. Lower Health Care Premiums for All Americans Act, H.R. 6703: Support Senate action of House-passed bill. Comments to the Centers for Medicare & Medicaid Services: Submitted comments on the proposed Medicare Program: Medicare Drug Price Negotiation Program and Medicare Prescription Drug Benefit Program rule, opposing CMSs proposed modification for initial price applicability year (IPAY) 2029 that would change how the agency identifies a qualifying single source drug under the Medicare Drug Price Negotiation Program created by the Inflation Reduction Act (IRA). Request for Information on Common Sense Policy Options to Lower Drug Prices for Patients: Submitted comments to Senate Finance Committees (via Ranking Member Wyden) Request for Information on policy options to lower prescription drug costs. 340B Drug Program: Continue to voice concerns about this program to Congress (in terms of effects on high drug and health premium costs) and the need for reforms. Abolish the Center for Medicare and Medicaid Innovation (CMMI) Act, H.R. 8293: Support the legislation. Intellectual Property Patent Eligibility Restoration Act (PERA), S. 1546: Reiterated support for the Senate introduced bill. Trade and Global Market Access Comments to the Office of the United States Trade Representative: Submitted comments on the 301 Investigation into Germanys persistent underpayment for innovative drugs, expressing encouragement about the investigation into the countrys unfair pharmaceutical pricing and the use of available USTR tools to press Americas trading partners to lift their price controls and contribute fairly to the innovation ecosystem from which they benefit American Global Competitiveness at 250: Legislative Proposals to Secure U.S. Technology Leadership: Submitted written testimony for the record before U.S. House Committee on Energy and Commerce expressing concerns about the European Unions Corporate Sustainability Due Diligence Directive (commonly referred to as CSDDD or CS3D) and the significant implications it poses for American businesses, small businesses and entrepreneurs. USMCA Review: Expressed overall support for the USMCA as it undergoes a review process. Urged the Administration to focus on strengthening and building upon the success of USMCA, make changes where warranted - such in the area of enforcement - so as not to destabilize supply chains and markets have become increasingly important to Americas entrepreneurs and small businesses.
Client expense: $35,000 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Federal Communications Commission (FCC), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, SENATE, Small Business Administration (SBA), U.S. Trade Representative (USTR)
2026 · third_quarter · Financial Institutions/Investments/Securities
Issues related to the implementation of SECURE 2.0 FSOC Proposed Analytic Framework and Interpretive Guidance Proxy Voting Education Tax Education Cross-Trading of Fixed Income Funds Alternative Investments Education and Regulatory Filings ETF Share-class Education Issues related to savings vehicles for minors in H.R.1 Issues related to eligible investments in ERISA Public Country by Country Reporting (PCbCR) GROWTH Act Electronic Delivery Education Issues related to unclaimed property H.R. 3383 - The INVEST Act issues related to corporate disclosure and fund disclosure Issues related to equity markets
Client expense: $610,000 · Firm income: Not reported
Government targets: Federal Deposit Insurance Corporation (FDIC), Federal Energy Regulatory Commission (FERC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Natl Economic Council (NEC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
- Access to Lifetime Income Investment/Distribution Options on Retirement Plan Menus - Access to Workplace Retirement Plans o Automatic IRA Act of 2025 (H.R. 6722) - Retirement Income Education - Providing parity for investment options in 403(b) plans o Retirement Fairness for Charities and Educational Institutions Act (H.R.1013, S. 424); o INVEST Act of 2025 (H.R. 3383) - Helping Young Americans Save for Retirement Act (H.R. 4718, S. 1707) - Auto Reenroll Act (S. 1831, H.R. 6729) - Independent Retirement Fairness Act (S. 2217) - Retirement Simplification and Clarity Act of 2025 (H.R. 6324, S. 5156) - Retirement Investment in Small Employers (RISE) Act (S. 1840, H.R. 8837) - Lowering Costs for Caregivers Act. (S. 1565, H.R. 138)
Client expense: $580,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
Closed End Funds o Increasing Investor Opportunities Act; INVEST Act of 2025 (H.R. 3383) Providing parity for investment options in 403(b) plans o Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013, S. 424); INVEST Act of 2025 (H.R. 3383)
Client expense: $580,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Natl Economic Council (NEC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Retirement
H.R. 2696 - Retirement Savings for Americans Act of 2025 H.R. 3383 - Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 H.R. 4548 - Small Nonprofit Retirement Security Act H.R. 8837 - Retirement Investment in Small Employers Act S. 424 - Retirement Fairness for Charities and Educational Institutions Act of 2025 S. 1526 - Retirement Savings for Americans Act of 2025 S. 1840 - Retirement Investment in Small Employers Act
Client expense: $366,887 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Asset management; H.R. 1013 and S. 424, the Retirement Fairness for Charities and Educational Institutions Act of 2025; H.R. 3383, the INVEST Act.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
Capital Markets efficiency; H.R. 1013 and S.424, the Retirement Fairness for Charities and Educational Institutions Act of 2025; H.R.3383, the INVEST Act; asset management issues.
Client expense: Not reported · Firm income: $40,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Mutual fund, ETF, money market mutual fund, securities, and systemic risk issues. H.R. 1033, Retirement Fairness for Charities and Educational Institutions Act of 2025; S.424, Retirement Fairness for Charities and Educational Institutions Act of 2025. H.R. 2441, Improving Disclosure for Investors Act of 2025; HR 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025; issues related to index funds; issues related to fund proxy voting; issues related to access to investment opportunities; issues related to products and markets. H.R. 3682, Financial Stability Oversight Council Improvement Act of 2025.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office
2026 · third_quarter · Financial Institutions/Investments/Securities
Equity market structure, trading, and listing and delisting issues. H.R. 3383, INVEST Act of 2025; securities fraud prevention; Section 31 transaction fees.
Client expense: Not reported · Firm income: $40,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)
2026 · third_quarter · Financial Institutions/Investments/Securities
Issues related to ETF regulation Issues related to municipal bonds and the structure of the municipal securities market Issues related to equity market structure matters Issues related to fund disclosure and investor experience, including providing for electronic delivery of fund information, and the Improving Disclosure for Investors Act (H.R. 2441, S. 1877) Issues related to corporate governance, including proxy process, and the INDEX Act (S.1670), and the Empowering Shareholders Act (H.R. 8265) Issues related to fixed income funds Issues related to index funds and index fund regulation Issues related to access to investment opportunities, including Trump Accounts Issues related to allowing collective investment trusts in 403(b) plans, including the Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013, S. 424) Issues related to systemic risk regulation and non-bank financial intermediation including the FSOC Improvement Act (H.R.3682, S.3578) Issues related to the INVEST Act (H.R.3383)
Client expense: $510,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Retirement
Issues related to employee benefit plan administration, and investments in IRAs, including default investments and child savings accounts Issues related to allowing collective investment trusts in 403(b) plans, including the Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013, S. 424) Issues related to access to investment opportunities Issues related to considerations for plan fiduciaries Issues related to automatic portability Issues related to corporate governance, including proxy process Issues related to the INVEST Act (H.R.3383)
Client expense: $510,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
H.R.2441/S.1877- Improving Disclosure for Investors Act of 2025 H.R. 4538 - the PAPER Act H.R. 3383 - the INVEST Act
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Expansion of investment options for 403(b) plans, including: H.R. 1013/S. 424, Retirement Fairness for Charities and Educational Institutions Act. H.R.3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
General issues related to life insurance; Issues related to data privacy; Issues related to electronic delivery (e-delivery); Issues related to H.R. 3383 - Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025; Issues related to H.R. 2089/S. 1839 - Generating Retirement Ownership through Longer-Term Holding (GROWTH) Act; Issues related to H.R. 8338 - SAFER Act of 2026.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Retirement
The Generating Retirement Ownership through Long-Term Holding (GROWTH) Act (H.R. 2089/S. 1839) The Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025 (H.R. 3383) Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013 / S. 424) The SAFER Act (H.R. 8338) DOL Proposal on Fiduciary Duties in Selecting Designated Investment Alternatives Lifetime income options
Client expense: $30,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
The Generating Retirement Ownership through Long-Term Holding (GROWTH) Act (H.R. 2089/S. 1839) The Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025 (H.R. 3383) Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013 / S. 424) The SAFER Act (H.R. 8338) DOL Proposal on Fiduciary Duties in Selecting Designated Investment Alternatives Lifetime income options
Client expense: $30,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Opposing The Improving Disclosure for Investors Act of 2025 (H.R. 2441/S. 1877), which was included in the INVEST Act (H.R. 3383) and allows financial companies to default investors into e-delivery, which would disenfranchise millions of people by ignoring the consumer's choice of printed communications. Opposing the SEC's proposed E-Regulation Delivery rule that would switch the default from paper to electronic communications without affirmative consent.
Client expense: $50,000 · Firm income: Not reported
Government targets: Financial Crimes Enforcement Network (FinCEN), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
Expansion of investment options for 403(b) plans, including: H.R. 1013/S. 424, Retirement Fairness for Charities and Educational Institutions Act. H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Issues related to retirement plan data privacy. Issues related to SEC Rule 180. Expansion of investment options for 403(b) plans, including: H.R. 1013/S. 424, Retirement Fairness for Charities and Educational Institutions Act. H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)
2026 · third_quarter · Financial Institutions/Investments/Securities
Expansion of investment options for 403(b) plans, including: H.R. 1013/S. 424, Retirement Fairness for Charities and Educational Institutions Act. H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Expansion of investment options for 403(b) plans, including: H.R. 1013/S. 424, Retirement Fairness for Charities and Educational Institutions Act. H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Monitoring legislation seeking to regulate AI, machine learning, and other technology tools used in the financial services arena; Transparency and accuracy of proxy advisors; Public company regulations. Legislative reforms to improve capital formation (Venture Exchange), H.R 2441 - Improving Disclosure for Investors Act of 2025, H.R. 2624 (118th Congress), H.R. - To lower the aggregate market value of voting and non-voting common equity necessary for an issuer to qualify as a well-known seasoned issuer (discussion draft in 119th Congress), H.R. - To amend the Securities Act of 1933 to expand the ability to use testing the waters and confidential draft registration submissions, and for other purposes (discussion draft in 119th Congress), H.R. 2576 (118th Congress), H.R. 2610 (118th Congress), H.R. 2608 (118th Congress), H.R. 2603 (118th Congress), H.R. 6623 - Main Street Growth Act (118th Congress), legislation on 10-Q optionality, H.R. 3383 Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act; Federal financial transaction tax: S. 1990 (118th Congress) and H.R. 4119 - Tax on Wall Street Speculation Act of 2023; Digital asset regulatory reform, CLARITY Act, FIT21, S. 2597 - Digital Commodities Consumer Protection Act of 2023; Equity market structure and SECs rulemaking on market structure, Regulation NMS, market data, regulation of Exchange pricing: SECs proposed elimination of volume based tiered pricing in the equities markets; Reform of SRO rulemaking; defend trading incentives such as exchange rebate programs; H.R. 1 Reconciliation Bill: monitor R&D tax credit and other items effecting the capital markets; Highlighting Nasdaqs anti-financial crime software solutions and policies aimed at those issues.
Client expense: $698,000 · Firm income: Not reported
Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
Proposals to amend federal securities laws to ensure parity between 403(b) plans and other types of retirement plans and to facilitate 403(b) plan investments in collective investment trusts, including: H.R. 1013/S. 424, Retirement Fairness for Charities and Educational Institutions Act; H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act; Technical Corrections to the SECURE 2.0 Act of 2022.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
- Issues related to capital formation - Issues related to SEC and SRO reform, SRO constitutionality concerns - H.R. 3395, Middle Market IPO Cost Act - Issues related to investor fraud and foreign state-sponsored scams targeting US citizens - S.1053/H.R. 2246, the Foreign Investment Guardrails to Help Thwart China Act - Issues related to inbound and outbound investments to/from China - S.1877, H.R.2441, Improving Disclosure for Investors Act of 2025 - H.R. 3959, legislation codifying SEC Rule 15c2-11 - Issues relating to proxy advisors - Issues related to shareholder proposals - Issues related to SEC recordkeeping rules - Issues related to registered investment advisor regulations - Issues related to Sarbanes Oxley - Issues related to arbitration - H.R. 5748 and issues relating to Executive Order 14330, expansion opportunities for retirement plans - H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025, and related Senate legislation - S.3935, Municipal Securities Rulemaking Board Reform Act of 2026 and related House legislation - Issues relating to the funding model and privacy concerns of the Consolidated Audit Trail (CAT) - H.R.8338, SAFER Act of 2026 - H.R.8800, National Defense Authorization Act for Fiscal Year 2027 - H.R.8286, Protecting Americans' Retirement Savings From Politics Act - Issues relating to artificial intelligence in financial services - Issues relating to the RIA exam process - H.R.9574, The Informed Investor Access Act - Issues related to the accredited investor definition - S. 5642, The Protecting US Investors From Chinese Military Companies - S. 5643, The Know Your Sanctioned Securities Act - Issues relating to political contribution rules applicable to broker-dealers and municipal securities dealers, including the SECs proposal to rescind Rule 206 (4)-5 under the Investment Advisers Act
Client expense: $70,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Banking
H.R. 1255, Investing in Our Communities Act; H.R, 1469, Senior Security Act of 2025; H.R. 1483, Protecting Investors Personally Identifiable Information Act; H.R. 2441/S. 1877, Improving Disclosure for Investors Act of 2025; H.R. 2225, the Access to Small Business Investor Capital Act; H.R. 3381, Encouraging Public Offerings of 2025; H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST Act) of 2025; H.R. 3394, Fair Investment Opportunities for Professional Experts Act; H.R. 3395, Middle Market IPO Cost Act; H.R. 3633, CLARITY Act of 2025 & Senate amendments to H.R. 3633 CLARITY Act of 2025; H.R. 8338, the SAFER Act; H.R. 8398, GUARD Financial Data Act; H.R. 8413, SECURE Data Act; S. 4784/H.R. 8800, National Defense Authorization Act for Fiscal Year 2027 (issues related to stock buybacks); SEC No-Action Relief for SEC Rule 15c2-11; SEC exemptive relief surrounding Digital Assets; Federal Reserve Proposal to revise its stress testing process; Legislative proposal to enhance retail investor access to private markets; Prudential agency (Federal Reserve, OCC and FDIC) proposal to implement the Basel Endgame reforms in the U.S. and congressional (U.S. House and Senate) oversight of the same, including revisions to the trading book capital rules, stress testing, capital surcharges and buffers; Public Law 119-27, the GENIUS Act.
Client expense: $1,810,000 · Firm income: Not reported
Government targets: Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Economic Council (NEC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
A discussion draft to amend the Securities Exchange Act of 1934 to create a safe harbor for finders and private placement brokers, and for other purposes. Titled Unlocking Capital for Small Businesses Act of 2025. The Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 (INVEST Act) H.R. 3383.
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Support HR 4735/S 2419 Business of Insurance Regulatory Reform Act - keeps insurance regulated by the states and not by the Consumer Financial Protection Bureau or set by international bodies. This bill has been folded into H.R. 10184, the Consumer Financial Protection Accountability and Reform Act of 2026. Oppose H.R. 10439 Veterans and Consumers Fair Credit - would apply all in APR to state credit unions that offer voluntary insurance protection produces. Advocate to preserve consumer access to voluntary insurance protection products in legislative proposals redefining APR calculations Advocate for federal preemption of privacy measures in line with GLBA and HIPAA as applied to financial services. o H.R. 8413, SECURE Data Act, a comprehensive federal privacy framework and H.R. 8398, GUARD Financial Data Act. Support HR 2441/S 1877 Improving Disclosure for Investors Act - to provide electronic delivery of SEC regulatory documents. Provision included in H.R. 3383, the INVEST Act. Support HR 1777/S 1561 SECURE Notarization Act - authorizes notaries to perform, and to establish minimum standards for electronic notarizations and remote notarizations. Support increased CDFI and MDI funding in FY 2026 & 2027 Appropriations. Support preservation of the CDFI Fund. Oppose S. 3623/H.R. 7035, the Credit Card Competition Act, a bill that would reduce interchange fees on credit cards. Support the Retirement Fairness for Charities and Educational Institutions Act (HR 1013/S 424). Allows 403(b) retirement plans to invest in unregistered insurance contracts and CITs. Provision included in H.R. 3383, the INVEST Act. Support the TRAPs Act (Task Force for Recognizing and Averting Payment Scams) (HR 4936/S 2019) and other legislation that protects consumers from payment scams and fraud. Support H.R. 9331, Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act, to address check fraud. Support S. 3940, the Access to Fair Financing for Opportunity and Resilient Development (AFFORD) Act, which brings together four CDFI bills that would support CDFI secondary markets and access to capital through the Bond Guarantee Program, among other improvements. Monitor how federal AI legislation impacts insurers ability to conduct business. Monitor H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act and how federal digital asset market structure legislation impacts insurers ability to offer a stablecoin.
Client expense: $130,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · first_quarter · Retirement
ERISA preemption Oversight of EBSA programs - EBSA Investigations Transparency Act (2869); Transparency for Secret Litigation Agreements (HR 2958) Alternative investments in qualified retirement plans Pooled Employer Plans Collective investment trusts (CITs) and insurance company separate accounts HR 1013 and HR 3383 ERISA Litigation Reform Act (HR 6084) Limited Scope Audit Prohibited Transaction Exemption (PTE) 77-4 INSIGHT Act (Sen. Banks) Pension Benefit Guaranty Corporation single-employer premiums Market Based Cash Balance Plans Age of participation in retirement plans reduced from 21 to 18 (HR 4718 / S. 1707) Permitting optional re-enrollment, S. 1831 Defined Benefit Pension Plans (DBs), retiree health accounts, IRC sec. 401(h) limited access to surplus, S. 2003 Child Saving Accounts (IRC sec. 530A, Trump Accounts) Retire Through Ownership Act, HR 5160 / S. 2403
Client expense: $280,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · second_quarter · Financial Institutions/Investments/Securities
Issues related to crypto & digital assets including 1) digital assets market structure initiatives such as H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act and Senate companion drafts such as S. 4356, the Responsible Financial Innovation Act (RFIA) and S. 3755, the Digital Commodity Intermediaries Act and 2) Stablecoins legislation clarification including S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the GENIUS Act) Issues related to including digital assets in registered investment companies and the taxation of digital assets, including H.R. 9175, the Tax Clarity for Mining and Staking Act Increases in the stock buyback excise tax included in FY27 National Defense Authorization Act (NDAA) - H.R. 8800 and S. 4784 Various reconciliation issues in H.R.1, the One Big Beautiful Bill Act, including section 899 and implementation of Trump accounts Treasury meetings about Trump accounts. Protecting closed-end funds from activist investors and enhancing retail investor access to alternative investments & private markets - H.R. 3383, the Increasing Investor Opportunities Act Capital formation initiatives included in H.R. 3383, the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act (note same bill number as the CEF bill - two bills combined) and possible Senate companion legislation, the Empowering Main Street in America Act (EMSAA) Promoting inclusion of alternative investments in retirement plans, including H.R. 2544 & S. 1222, the Financial Freedom Act and H.R. 5748, the Retirement Investment Choice Act which codifies President Trumps executive order (14330) on alternative investments in 401(k)s Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Professional Experts Act Clarifications about restrictions on outbound investments to China included in the National Defense Authorization Act (NDAA) S. 1071 including the COINS Act, the Comprehensive Outbound Investment National Security Act of 2025 Business Development Company issues including H.R. 2225 & S. 1808 - the Access to Small Business Investor Capital Act E-delivery initiatives including H.R. 2441 & S 1877, the Improving Disclosure for Investors Act Retirement security initiatives, including S. 424 and H.R. 1013, the Retirement Fairness for Charities and Educational Institutions Retirement savings initiatives including promoting tax deferral for individuals participating in voluntary, employer provided retirement plans and IRAs and H.R. 2696 and S. 1526, the Retirement Savings for Americans Act (RSAA) that would create a federal retirement system ERISA litigation reform efforts such as H. R. 6084, the ERISA Litigation Reform Act Congressional oversight of ESG investing including proxy voting by asset managers and various legislative initiatives H.R. 3682 and S. 3578, the FSOC Improvement Act which reforms the Financial Stability Oversight Councils non-bank Systematically Important Financial Institution (SIFI) designation process.
Client expense: $270,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of