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Small Business Investor Capital Access Act
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
91pct
97d open
vs 10,940 other HR bills in the 119th — cohort avg 30d
Small Business Investor Capital Access Act This bill requires the Securities and Exchange Commission (SEC) to adjust annually for inflation the dollar threshold of an exemption from registration requirements for investment advisors of private funds. Currently, investment advisors of private funds of less than $150 million in assets under management are exempt. The bill requires the SEC to adjust that amount annually based on the change in the Consumer Price Index.
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.
Filing registrants (1)
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
Placed on the Union Calendar, Calendar No. 211.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-254.
Congress.gov source codes: 5000, H12200
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 2.
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
Bills with similar content found using semantic analysis.
Sources: Congress.gov
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 · second_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, 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. 5437, Protection of Lawful Commerce in Stone Slab Products 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 S. 985, PROTECT USA Act S. 2934, Protecting Americans from Russian Litigation Act of 2025, and potential litigation funding issues thereunder S. 3772, Export-Import Bank Reauthorization Act of 2026 S. 3826, Litigation Funding Transparency Act of 2026 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. 4767, Protecting Americans Retirement Savings from Politics 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 Potential report language on FSOC/OFR stress test of nonbank financial institutions engaged in private credit Proposed amendment to H.R. 8800, the National Defense Authorization Act for FY 2027, to prohibit stock buybacks by certain defense contractors 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) 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; 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; oversight issues and potential legislation on third party litigation funding, including its national security implications; insurance related litigation; oversight of the federal judiciary regarding third party litigation funding
Client expense: $16,950,000 · 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 · first_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. 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. 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. 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 S. 985, PROTECT USA Act S. 2934, Protecting Americans from Russian Litigation Act of 2025, and potential litigation funding issues thereunder S. 3826, Litigation Funding Transparency Act of 2026 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. 4767, Protecting Americans Retirement Savings from Politics 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 to prevent the premature seizure of an individuals securities, digital assets, or investment accounts in the custody of a financial institution under State escheatment laws, and for other purposes Potential legislation 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) Various issues relating to potential housing finance reform legislation; Basel III Endgame Rule; issues related to the Export-Import Bank of the United States; European Unions (EU) Corporate Sustainability Due Diligence Directive (CSDDD); 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; proxy process, proxy advisory firms, and other related aspects of corporate governance; 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 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; oversight issues and potential legislation on third party litigation funding, including its national security implications; insurance related litigation; oversight of the federal judiciary regarding third party litigation funding
Client expense: $19,750,000 · 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, Housing & Urban Development, Dept of (HUD), 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 · first_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. 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. 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. 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 S. 985, PROTECT USA Act S. 2934, Protecting Americans from Russian Litigation Act of 2025, and potential litigation funding issues thereunder S. 3826, Litigation Funding Transparency Act of 2026 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. 4767, Protecting Americans Retirement Savings from Politics 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 to prevent the premature seizure of an individuals securities, digital assets, or investment accounts in the custody of a financial institution under State escheatment laws, and for other purposes Potential legislation 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) Various issues relating to potential housing finance reform legislation; Basel III Endgame Rule; issues related to the Export-Import Bank of the United States; European Unions (EU) Corporate Sustainability Due Diligence Directive (CSDDD); 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; proxy process, proxy advisory firms, and other related aspects of corporate governance; 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 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; oversight issues and potential legislation on third party litigation funding, including its national security implications; insurance related litigation; oversight of the federal judiciary regarding third party litigation funding
Client expense: $19,750,000 · 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, Housing & Urban Development, Dept of (HUD), 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)
2025 · fourth_quarter · Financial Institutions/Investments/Securities
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, Improving Disclosure for Investors Act of 2025 H.R. 2675/S. 3180, 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/S. 2924, 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/S. 3578, 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. 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. 4767, Protecting Americans Retirement Savings from Politics 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. 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 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; oversight issues and potential legislation on third party litigation funding, including its national security implications
Client expense: $17,960,000 · 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)
2025 · third_quarter · Financial Institutions/Investments/Securities
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
2025 · second_quarter · Financial Institutions/Investments/Securities
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: $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)
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)