Encouraging Employee Ownership Act

HR 5947/S.3409 - Improved Employment Outcomes for Foster Youth Act of 2016 H.R. 644 - America Gives More Act of 2015 H.R. 1105 / S. 860 - Death Tax Repeal Act of 2015 H.R. 1675 / S. 576 - Encouraging Employee Ownership Act of 2015 S. 698 - Marketplace Fairness Act of 2015 H.R. 2775 - Remote Transactions Parity Act of 2015 S. 1996 - Commonsense Reporting Act of 2015 S. 2045 - Middle Class Health Benefits Tax Repeal Act of 2015 S. 2075 - American Worker Health Care Tax Relief Act of 2015 House Ways and Means Committee Reconciliation Recommendations pursuant to S. Con. Res. 11, the Concurrent Resolution on the Budget for Fiscal Year 2016 H.Con.Res. 69 - Expressing the sense of Congress that any reform or repeal of the last-in, first-out method of accounting for inventories (LIFO) would cause irreparable and unnecessary damage to United States. H.R. 765 - Restaurant and Retail Jobs and Growth Act H.R. 2029 - Consolidated Appropriations Act, House Amendments 1 and 2 to Senate Amendment published as Rules Committee Prints 114-39 and 114-40 Division Q - Protecting Americans from Tax Hikes Act Of 2015 (whole section) H.R. 1314 - Bipartisan Budget Act of 2015 H.R.3762 - Restoring Americans' Healthcare Freedom Reconciliation Act of 2015 S.1946 - Tax Relief Extension Act of 2015 S.2045 - Middle Class Health Benefits Tax Repeal Act of 2015

Client expense: $150,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Capital Formation Investment Incentives ---H.R. 2179: PARTNER Act ---Reform of Capital Gains Rules ---Reform of Net Operating Loss Rules ---Reform of Passive Loss Rules ---S. 341: Start-up Jobs and Innovation Act ---S. 537: COMPETE Act Capital Market Enhancements ---H.R. 1675/S. 576: Encouraging Employee Ownership Act ---H.R. 1675: Capital Markets Improvement Act ---H.R. 2354: Streamlining Excessive and Costly Regulations Review Act ---H.R. 2357: Accelerating Access to Capital Act ---H.R. 3784/S.2867: Securities & Exchange Commission Small Business Advocate Act ---H.R. 4168: Small Business Capital Formation Enhancement Act ---H.R. 4638: Main Street Growth Act ---H.R. 2187: Fair Investment Opportunities for Professional Experts Act ---Financial CHOICE Act (House Discussion Draft) Small Business Innovation Research (SBIR) Program Proxy Advisory Services ---Impact of Policies on Small Public Companies ---H.R. 5311: The Corporate Governance Reform and Transparency Act of 2016 ---Financial CHOICE Act (House Discussion Draft) Reform of SEC Regulation D ---H.R. 4498/S.978: HALOS Act ---H.R. 4852: Private Placement Improvement Act ---Financial CHOICE Act (House Discussion Draft) Sarbanes Oxley Section 404 (b) ---H.R. 4139: Fostering Innovation Act ---PCAOB Audit Cost Increases ---Small Issuer Exemption ---Financial CHOICE Act (House Discussion Draft) Short Selling Transparency ---H.R.5485/S.3067: Financial Services and General Government Appropriations for FY 2017 XBRL Exemption for Small Public Companies ---H.R. 1675: Capital Markets Improvement Act ---H.R. 1965: Small Company Disclosure Simplification Act ---Financial CHOICE Act (House Discussion Draft) Legislative Amendments to SEC Rule 12b-2 Filing Status Definitions

Client expense: $2,310,000 · Firm income: Not reported

H.R. 22 (Developing a Reliable and Innovative Vision for the Economy Act); H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 50 (Unfunded Mandates Information and Transparency Act of 2015); H.R. 414 (Burdensome Data Collection Relief Act); H.R. 432 (SBIC Advisers Relief Act of 2015); H.R. 644 (Trade Facilitation and Trade Enforcement Act of 2015); H.R. 686 (Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015); H.R. 897 (Reducing Regulatory Burdens Act of 2015); H.R. 989 (Capital Access for Small Businesses and Jobs Act); H.R. 1090 (Retail Investor Protection Act); H.R. 1098 (Investor Choice Act of 2015); H.R. 1163 (Futures Investor Protection Act); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 1314 (Trade Act of 2015); H.R. 1334 (Holding Company Registration Threshold Equalization Act of 2015); H.R. 1525 (Disclosure Modernization and Simplification Act of 2015); H.R. 1550 (Financial Stability Oversight Council Improvement Act of 2015); H.R. 1659 (Improving Access to Capital for Emerging Growth Companies Act); H.R. 1675 (Encouraging Employee Ownership Act of 2015); H.R. 1723 (Small Company Simple Registration Act of 2015); H.R. 1890 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); H.R. 1982 (Restoring Main Street Investor Protection and Confidence Act); H.R. 2356 (Fair Access to Investment Research Act of 2015); H.R. 3738 (Office of Financial Research Accountability Act of 2015); H.R. 3340 (Financial Stability Oversight Council Reform Act); H.R. 4538 (Senior$afe Act of 2016); S. 67 (Restoring Main Street Investor Protection and Confidence Act); S. 115 (Fair Tax Act of 2015); S. 153 (I-Squared Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 305 (American Job Protection Act); S. 576 (Encouraging Employee Ownership Act); S. 995 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); S. 1484 (Financial Regulatory Improvement Act of 2015); S. 2216 (Senior$afe Act of 2015); S. 2497 (Retail Investor Protection Act of 2016); Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (including Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941; Title I and Title II); Systemic Risk Regulation and liquidation authority; Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; Bilateral Investment Treaties, India, China; Transpacific Partnership; India Market Access Issues; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; Basel Capital Rules; Basel Securitization Framework; TransAtlantic Trade and Investment Partnership (TTIP); India Financial Sector Reform; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Bankruptcy reform for municipalities; Support of financial literacy; Privacy and cybersecurity issues (general); Municipal advisor regulation; CFTC cross-border guidance exemptive order; Financial Stability Oversight Council (FSOC); FSOC consideration of systemically important financial institutions (SIFIs); FSOC Transparency Policy; CFTC exemptive order on extraterritorial scope of Title VII; Legal entity identifier (LEI); Jumpstart our Business Startups (JOBS) Act implementation; Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) consultation paper on margin requirements for uncleared derivatives; Commodity Pools and Securitization; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Leverage capital requirements; Release No. 34-71958, Security-Based Swap Dealers Recordkeeping; Recordkeeping Requirements; Rules 17a-3, 17a-4 (Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority); Regulation AB II (asset backed securities - Securities and Exchange Commission, Consumer Financial Protection Bureau); CFTC proposed rule on margin requirements for uncleared swaps; Prudential Regulator's proposed rule on margin requirements for uncleared swaps; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Inter-affiliate swap transactions; Securities and Exchange Commission proposed rule on margin requirements for uncleared swaps; U.S./EU cross-border regulatory issues; Trade policy issues (general); China "Secure and Controllable" information and communication technologies (ICT) regulations. Mutual Fund 12b-1 Fees; Senior investors/diminished capacity investors; Broker-dealers/investment advisers mitigation of accounts; Basel III Liquidity Coverage Ratio rules; Public Company Accounting Oversight Board small broker/dealer exemption; U.S./EU financial markets regulatory dialogue; Trade and international issues (general); Diversity (general); National Market System (NMS) discussion draft; Data localization requirements in the Trans-Pacific Partnership; Swap Execution Facilities (SEFs) and clearing for swaps; Global FX Code of Conduct; Decision to delay implementation for margin for non-centrally cleared swaps; Municipal securities disclosure regulation; Financial CHOICE Act.

WOTC & Foster Care Transition Youth (unintroduced legislation) H.R. 644 - America Gives More Act of 2015 H.R. 1105 / S. 860 - Death Tax Repeal Act of 2015 H.R. 1675 / S. 576 - Encouraging Employee Ownership Act of 2015 S. 698 - Marketplace Fairness Act of 2015 H.R. 2775 - Remote Transactions Parity Act of 2015 S. 1996 - Commonsense Reporting Act of 2015 S. 2045 - Middle Class Health Benefits Tax Repeal Act of 2015 S. 2075 - American Worker Health Care Tax Relief Act of 2015 House Ways and Means Committee Reconciliation Recommendations pursuant to S. Con. Res. 11, the Concurrent Resolution on the Budget for Fiscal Year 2016 H.Con.Res. 69 - Expressing the sense of Congress that any reform or repeal of the last-in, first-out method of accounting for inventories (LIFO) would cause irreparable and unnecessary damage to United States. H.R. 765 - Restaurant and Retail Jobs and Growth Act H.R. 2029 - Consolidated Appropriations Act, House Amendments 1 and 2 to Senate Amendment published as Rules Committee Prints 114-39 and 114-40 Division Q - Protecting Americans from Tax Hikes Act Of 2015 (whole section) H.R. 1314 - Bipartisan Budget Act of 2015 H.R.3762 - Restoring Americans' Healthcare Freedom Reconciliation Act of 2015 S.1946 - Tax Relief Extension Act of 2015 S.2045 - Middle Class Health Benefits Tax Repeal Act of 2015

Client expense: $280,000 · Firm income: Not reported

H.R. 22 (Developing a Reliable and Innovative Vision for the Economy Act); H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 50 (Unfunded Mandates Information and Transparency Act of 2015); H.R. 414 (Burdensome Data Collection Relief Act); H.R. 432 (SBIC Advisers Relief Act of 2015); H.R. 644 (Trade Facilitation and Trade Enforcement Act of 2015); H.R. 686 (Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015); H.R. 897 (Reducing Regulatory Burdens Act of 2015); H.R. 989 (Capital Access for Small Businesses and Jobs Act); H.R. 1090 (Retail Investor Protection Act); H.R. 1098 (Investor Choice Act of 2015); H.R. 1163 (Futures Investor Protection Act); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 1314 (Trade Act of 2015); H.R. 1334 (Holding Company Registration Threshold Equalization Act of 2015); H.R. 1525 (Disclosure Modernization and Simplification Act of 2015); H.R. 1550 (Financial Stability Oversight Council Improvement Act of 2015); H.R. 1659 (Improving Access to Capital for Emerging Growth Companies Act); H.R. 1675 (Encouraging Employee Ownership Act of 2015); H.R. 1723 (Small Company Simple Registration Act of 2015); H.R. 1890 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); H.R. 1982 (Restoring Main Street Investor Protection and Confidence Act); H.R. 2356 (Fair Access to Investment Research Act of 2015); H.R. 3738 (Office of Financial Research Accountability Act of 2015); H.R. 3340 (Financial Stability Oversight Council Reform Act); H.R. 4538 (Senior$afe Act of 2016); S. 67 (Restoring Main Street Investor Protection and Confidence Act); S. 115 (Fair Tax Act of 2015); S. 153 (I-Squared Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 305 (American Job Protection Act); S. 576 (Encouraging Employee Ownership Act); S. 995 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); S. 1484 (Financial Regulatory Improvement Act of 2015); S. 2216 (Senior$afe Act of 2015); S. 2497 (Retail Investor Protection Act of 2016); Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (including Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941; Title I and Title II); Systemic Risk Regulation and liquidation authority; Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; Bilateral Investment Treaties, India, China; Transpacific Partnership; India Market Access Issues; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; Basel Capital Rules; Basel Securitization Framework; TransAtlantic Trade and Investment Partnership (TTIP); India Financial Sector Reform; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Bankruptcy reform for municipalities; Support of financial literacy; Privacy and cybersecurity issues (general); Municipal advisor regulation; CFTC cross-border guidance exemptive order; Financial Stability Oversight Council (FSOC); FSOC consideration of systemically important financial institutions (SIFIs); FSOC Transparency Policy; CFTC exemptive order on extraterritorial scope of Title VII; Legal entity identifier (LEI); Jumpstart our Business Startups (JOBS) Act implementation; Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) consultation paper on margin requirements for uncleared derivatives; Commodity Pools and Securitization; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Leverage capital requirements; Release No. 34-71958, Security-Based Swap Dealers Recordkeeping; Recordkeeping Requirements; Rules 17a-3, 17a-4 (Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority); Regulation AB II (asset backed securities - Securities and Exchange Commission, Consumer Financial Protection Bureau); CFTC proposed rule on margin requirements for uncleared swaps; Prudential Regulator's proposed rule on margin requirements for uncleared swaps; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Inter-affiliate swap transactions; Securities and Exchange Commission proposed rule on margin requirements for uncleared swaps; U.S./EU cross-border regulatory issues; Trade policy issues (general); Market data (Exchange Act Section 19 and related rules); China "Secure and Controllable" information and communication technologies (ICT) regulations. Mutual Fund 12b-1 Fees; Senior investors/diminished capacity investors; Broker-dealers/investment advisers mitigation of accounts; Basel III Liquidity Coverage Ratio rules; Public Company Accounting Oversight Board small broker/dealer exemption; U.S./EU financial markets regulatory dialogue; Trade and international issues (general); Diversity (general); National Market System (NMS) discussion draft; Data localization requirements in the Trans-Pacific Partnership.

SEC issues, JOBS implementation and related issues, S.576/H.R. 1675 Encourage Employee Ownership Act and S. 1484, the Financial Regulatory Improvement Act of 2015, Title VI, Sec. 602 regarding Rule 701.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 37, Promoting Job Creation and Reducing Small Business Burdens Act H.R. 414, Burdensome Data Collection Relief Act H.R. 432/S. 1978, SBIC Advisers Relief Act of 2015 H.R. 601, Eliminate Privacy Notice Confusion Act H.R. 686/S. 1010, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 H.R. 766, Financial Institution Customer Protection Act of 2015 H.R. 957/S. 510, Bureau of Consumer Financial Protection-Inspector General Reform (CFPB-IG) Act of 2015 H.R. 1023/S. 552, Small Business Investment Company Capital Act of 2015 H.R. 1090, Retail Investor Protection Act H.R. 1195, Bureau of Consumer Financial Protection Advisory Boards Act H.R. 1210, Portfolio Lending and Mortgage Access Act H.R. 1259, Helping Expand Lending Practices in Rural Communities Act H.R. 1265, Bureau Advisory Commission Transparency Act H.R. 1266, Financial Product Safety Commission Act of 2015 H.R. 1309, Systemic Risk Designation Improvement Act of 2015 H.R. 1317, To amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to specify how clearing requirements apply to certain affiliate transactions, and for other purposes H.R. 1334, Holding Company Registration Threshold Equalization Act of 2015 H.R. 1525, Disclosure Modernization and Simplification Act of 2015 H.R. 1550, Financial Stability Oversight Council Improvement Act of 2015 H.R. 1553, Small Bank Exam Cycle Reform Act of 2015 H.R. 1659, Improving Access to Capital for Emerging Growth Companies Act H.R. 1675, Capital Markets Improvement Act of 2016 H.R. 1723, Small Company Simple Registration Act of 2015 H.R. 1737, Reforming CFPB Indirect Auto Financing Guidance Act H.R. 1839, Reforming Access for Investments in Startup Enterprises (RAISE) Act of 2015 H.R. 1847, Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015 H.R. 1941, Financial Institutions Examination Fairness and Reform Act H.R. 1965, Small Company Disclosure Simplification Act H.R. 1975, Securities and Exchange Commission Overpayment Credit Act H.R. 2064, Improving Access to Capital for Emerging Growth Companies Act H.R. 2187, Fair Investment Opportunities for Professional Experts Act H.R. 2287 /S. 924, National Credit Union Administration Budget Transparency Act H.R. 2289, Commodity End User Relief Act H.R. 2354, Streamlining Excessive and Costly Regulations Review Act H.R. 2356, Fair Access to Investment Research Act of 2015 H.R. 2357, Accelerating Access to Capital Act of 2015 H.R. 2477, Financial Transparency Act of 2015 H.R. 2648/S. 1109, Truth in Settlements Act of 2015 H.R. 2769, Risk-Based Capital Study Act of 2015 H.R. 2789, Capital Access for Small Business Banks Act H.R. 3192, Homebuyers Assistance Act H.R. 3340, Financial Stability Oversight Council Reform Act H.R. 3557, FSOC Transparency and Accountability Act H.R. 3738, Office of Financial Research Accountability Act of 2015 H.R. 3784, SEC Small Business Advocate Act of 2015 H.R. 3791, To raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes H.R. 3798, Due Process Restoration Act of 2015 H.R. 3857, To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making any new determination under section 113 of such Act, and for other purposes H.R. 3868, Small Business Credit Availability Act H.R. 4096, Investor Clarity and Bank Parity Act H.R. 4139, Fostering Innovation Act of 2015 H.R. 4166, Expanding Proven Financing for American Employers Act H.R. 4168, Small Business Capital Formation Enhancement Act H.R. 4293, Affordable Retirement Advice Protection Act H.R. 4294, Strengthening Access to Valuable Education and Retirement Support (SAVERS) Act of 2015 H.R. 4450/S. 2489, Incorporation Transparency and Law Enforcement Assistance Act H.R. 4498, Helping Angels Lead Our Startups (HALOS) Act H.R. 4620, Preserving Access to CRE Capital Act of 2016 H.R. 4718, Gender Diversity in Corporate Leadership Act of 2016 S. 576, Encouraging Employee Ownership Act S. 876, A bill to amend the Commodity Exchange Act to specify how clearing requirements apply to certain affiliate transactions S. 1484, Financial Regulatory Improvement Act of 2015 S. 1963, Bureau of Consumer Financial Protection Advisory Board Enhancement Act S. 2232, Federal Reserve Transparency Act of 2015 Draft legislation on conflict minerals disclosures Various issues relating to the implementation of the Dodd- Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203); Basel III capital standards; Trust Indenture Act (P.L. 76-253); oversight of proxy advisory firms; political spending disclosures; Department of Labor definition of fiduciary duty rules; conflict of interest rule, retirement investment advice; international capital standards for non-banks and insurance companies; systemic risk regulations for non-bank financial companies; Consumer Financial Protection Bureau arbitration study; Consumer Financial Protection Bureau online lending proposal; Consumer Financial Protection Bureau auto financing standard; Consumer Financial Protection Bureau no action letters; Federal Reserve reform; universal ballot; proxy voting system; impact of international regulatory standards on the competitiveness of U.S. insurers; case law arising under Section 316 of the Trust Indenture Act of 1939 (P.L. 76-253)

H.R. 644 - America Gives More Act of 2015 H.R. 1105 / S. 860 - Death Tax Repeal Act of 2015 H.R. 1675 / S. 576 - Encouraging Employee Ownership Act of 2015 S. 698 - Marketplace Fairness Act of 2015 H.R. 2775 - Remote Transactions Parity Act of 2015 S. 1996 - Commonsense Reporting Act of 2015 S. 2045 - Middle Class Health Benefits Tax Repeal Act of 2015 S. 2075 - American Worker Health Care Tax Relief Act of 2015 House Ways and Means Committee Reconciliation Recommendations pursuant to S. Con. Res. 11, the Concurrent Resolution on the Budget for Fiscal Year 2016 H.Con.Res. 69 - Expressing the sense of Congress that any reform or repeal of the last-in, first-out method of accounting for inventories (LIFO) would cause irreparable and unnecessary damage to United States. H.R. 765 - Restaurant and Retail Jobs and Growth Act H.R. 2029 - Consolidated Appropriations Act, House Amendments 1 and 2 to Senate Amendment published as Rules Committee Prints 114-39 and 114-40 Division Q - Protecting Americans from Tax Hikes Act Of 2015 (whole section) H.R. 1314 - Bipartisan Budget Act of 2015 H.R.3762 - Restoring Americans' Healthcare Freedom Reconciliation Act of 2015 S.1946 - Tax Relief Extension Act of 2015 S.2045 - Middle Class Health Benefits Tax Repeal Act of 2015

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

H.R. 22 (Developing a Reliable and Innovative Vision for the Economy Act); H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 50 (Unfunded Mandates Information and Transparency Act of 2015); H.R. 234 (Cyber Intelligence Sharing and Protection Act); H.R. 414 (Burdensome Data Collection Relief Act); H.R. 432 (SBIC Advisers Relief Act of 2015); H.R. 644 (Trade Facilitation and Trade Enforcement Act of 2015); H.R. 686 (Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015); H.R. 897 (Reducing Regulatory Burdens Act of 2015); H.R. 989 (Capital Access for Small Businesses and Jobs Act); H.R. 1090 (Retail Investor Protection Act); H.R. 1098 (Investor Choice Act of 2015); H.R. 1163 (Futures Investor Protection Act); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 1314 (Trade Act of 2015); H.R. 1334 (Holding Company Registration Threshold Equalization Act of 2015); H.R. 1525 (Disclosure Modernization and Simplification Act of 2015); H.R. 1550 (Financial Stability Oversight Council Improvement Act of 2015); H.R. 1659 (Improving Access to Capital for Emerging Growth Companies Act); H.R. 1675 (Encouraging Employee Ownership Act of 2015); H.R. 1723 (Small Company Simple Registration Act of 2015); H.R. 1890 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); H.R. 1982 (Restoring Main Street Investor Protection and Confidence Act); H.R. 2356 (Fair Access to Investment Research Act of 2015); H.R. 2995 (Financial Services and General Government Appropriations Act, 2016); H.R. 3738 (Office of Financial Research Accountability Act of 2015); H.R. 3340 (Financial Stability Oversight Council Reform Act); S. 67 (Restoring Main Street Investor Protection and Confidence Act); S. 115 (Fair Tax Act of 2015); S. 153 (I-Squared Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 305 (American Job Protection Act); S. 576 (Encouraging Employee Ownership Act); S. 754 (Cybersecurity Information Sharing Act of 2015); S. 995 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); S. 1484 (Financial Regulatory Improvement Act of 2015); S. 1910 (Financial Services and General Government Appropriations Act, 2016); Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (including Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941; Title I and Title II); Systemic Risk Regulation and liquidation authority; Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; Bilateral Investment Treaties, India, China; Transpacific Partnership; India Market Access Issues; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; Basel Capital Rules; Basel Securitization Framework; G-20; TransAtlantic Trade and Investment Partnership (TTIP); India Financial Sector Reform; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Bankruptcy reform for municipalities; Support of financial literacy; Privacy and cybersecurity issues (general); Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; CFTC cross-border guidance exemptive order; Financial Stability Oversight Council (FSOC); FSOC consideration of systemically important financial institutions (SIFIs); FSOC Transparency Policy; CFTC exemptive order on extraterritorial scope of Title VII; Legal entity identifier (LEI); Jumpstart our Business Startups (JOBS) Act implementation; Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) consultation paper on margin requirements for uncleared derivatives; Commodity Pools and Securitization; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Leverage capital requirements; Release No. 34-71958, Security-Based Swap Dealers Recordkeeping; Bankruptcy code reform; Municipalities Continuing Disclosure Cooperation (MCDC) Initiative; Recordkeeping Requirements; Rules 17a-3, 17a-4 (Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority); Regulation AB II (asset backed securities - Securities and Exchange Commission, Consumer Financial Protection Bureau); CFTC proposed rule on margin requirements for uncleared swaps; Prudential Regulator's proposed rule on margin requirements for uncleared swaps; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Inter-affiliate swap transactions; Securities and Exchange Commission proposed rule on margin requirements for uncleared swaps; U.S./EU cross-border regulatory issues; Trade policy issues (general); Market data (Exchange Act Section 19 and related rules); China "Secure and Controllable" information and communication technologies (ICT) regulations. Mutual Fund 12b-1 Fees; Senior investors/diminished capacity investors; Broker-dealers/investment advisers mitigation of accounts; Basel III Liquidity Coverage Ratio rules; Municipal Advisor Regulation; Public Company Accounting Oversight Board small broker/dealer exemption; U.S./EU financial markets regulatory dialogue; Trade and international issues (general); Diversity (general); National Market System (NMS) discussion draft.

H.R. 644 - America Gives More Act of 2015 H.R. 1105 / S. 860 - Death Tax Repeal Act of 2015 H.R. 1675 / S. 576 - Encouraging Employee Ownership Act of 2015 S. 698 - Marketplace Fairness Act of 2015 H.R. 2775 - Remote Transactions Parity Act of 2015 S. 1996 - Commonsense Reporting Act of 2015 S. 2045 - Middle Class Health Benefits Tax Repeal Act of 2015 S. 2075 - American Worker Health Care Tax Relief Act of 2015 House Ways and Means Committee Reconciliation Recommendations pursuant to S. Con. Res. 11, the Concurrent Resolution on the Budget for Fiscal Year 2016 H.Con.Res. 69 - Expressing the sense of Congress that any reform or repeal of the last-in, first-out method of accounting for inventories (LIFO) would cause irreparable and unnecessary damage to United States. H.R. 765 - Restaurant and Retail Jobs and Growth Act H.R. 2029 - Consolidated Appropriations Act, House Amendments 1 and 2 to Senate Amendment published as Rules Committee Prints 114-39 and 114-40 Division Q - Protecting Americans from Tax Hikes Act Of 2015 (whole section) H.R. 1314 - Bipartisan Budget Act of 2015 H.R.3762 - Restoring Americans' Healthcare Freedom Reconciliation Act of 2015 S.1946 - Tax Relief Extension Act of 2015 S.2045 - Middle Class Health Benefits Tax Repeal Act of 2015

Client expense: $150,000 · Firm income: Not reported

SEC issues, JOBS implementation and related issues, S. 576/H.R. 1675 Encourage Employee Ownership Act and S. 1484, the Financial Regulatory Improvement Act of 2015, Title VI, provisions related to mortgage reform.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 22, Fixing Americas Surface Transportation (FAST) Act, including provisions relating to House Amendments 824 and 827 H.R. 37, Promoting Job Creation and Reducing Small Business Burdens Act H.R. 414, Burdensome Data Collection Relief Act H.R. 432, SBIC Advisers Relief Act of 2015 H.R. 601, Eliminate Privacy Notice Confusion Act H.R. 686/S. 1010, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 H.R. 766, Financial Institution Customer Protection Act of 2015 H.R. 957/S. 510, Bureau of Consumer Financial Protection-Inspector General Reform (CFPB-IG) Act of 2015 H.R. 1023/S. 552, Small Business Investment Company Capital Act of 2015 H.R. 1090, Retail Investor Protection Act H.R. 1195, Bureau of Consumer Financial Protection Advisory Boards Act H.R. 1210, Portfolio Lending and Mortgage Access Act H.R. 1259, Helping Expand Lending Practices in Rural Communities Act H.R. 1265, Bureau Advisory Commission Transparency Act H.R. 1266, Financial Product Safety Commission Act of 2015 H.R. 1309, Systemic Risk Designation Improvement Act of 2015 H.R. 1317, To amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to specify how clearing requirements apply to certain affiliate transactions, and for other purposes H.R. 1334, Holding Company Registration Threshold Equalization Act of 2015 H.R. 1525, Disclosure Modernization and Simplification Act of 2015 H.R. 1550, Financial Stability Oversight Council Improvement Act of 2015 H.R. 1553, Small Bank Exam Cycle Reform Act of 2015 H.R. 1659, Improving Access to Capital for Emerging Growth Companies Act H.R. 1675, Encouraging Employee Ownership Act of 2015 H.R. 1723, Small Company Simple Registration Act of 2015 H.R. 1737, Reforming CFPB Indirect Auto Financing Guidance Act H.R. 1839, Reforming Access for Investments in Startup Enterprises (RAISE) Act of 2015 H.R. 1847, Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015 H.R. 1941, Financial Institutions Examination Fairness and Reform Act H.R. 1965, Small Company Disclosure Simplification Act H.R. 1975, Securities and Exchange Commission Overpayment Credit Act H.R. 2064, Improving Access to Capital for Emerging Growth Companies Act H.R. 2187, Fair Investment Opportunities for Professional Experts Act H.R. 2287, National Credit Union Administration Budget Transparency Act H.R. 2289, Commodity End User Relief Act H.R. 2354, Streamlining Excessive and Costly Regulations Review Act H.R. 2356, Fair Access to Investment Research Act of 2015 H.R. 2357, Accelerating Access to Capital Act of 2015 H.R. 2477, Financial Transparency Act of 2015 H.R. 2648/S. 1109, Truth in Settlements Act of 2015 H.R. 2769, Risk-Based Capital Study Act of 2015 H.R. 2789, Capital Access for Small Business Banks Act H.R. 2995, Financial Services and General Government Appropriations Act, 2016, including provisions relating to potential amendment regarding affordable dispute resolution options in the consumer financial services marketplace H.R. 3192, Homebuyers Assistance Act H.R. 3340, Financial Stability Oversight Council Reform Act H.R. 3557, FSOC Transparency and Accountability Act H.R. 3738, Office of Financial Research Accountability Act of 2015 H.R. 3784, SEC Small Business Advocate Act of 2015 H.R. 3791, To raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes H.R. 3798, Due Process Restoration Act of 2015 H.R. 3857, To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making any new determination under section 113 of such Act, and for other purposes H.R. 3868, Small Business Credit Availability Act H.R. 4168, Small Business Capital Formation Enhancement Act S. 423, Privacy Notice Modernization Act of 2015 S. 576, Encouraging Employee Ownership Act S. 1484, Financial Regulatory Improvement Act of 2015 S. 1963, Bureau of Consumer Financial Protection Advisory Board Enhancement Act Draft legislation on conflict minerals disclosures Potential legislation similar to H.R. 2629, Fostering Innovation Act of 2013 Potential legislation similar to S. 2498, Helping Angels Lead Our Startups (HALOS) Act (113th Congress) Various issues relating to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203); evaluating the security of the U.S. financial sector; Basel III capital standards; Trust Indenture Act (P.L. 76-253); oversight of proxy advisory firms; political spending disclosures; Department of Labor definition of fiduciary duty rules; international capital standards for non-banks and insurance; systemic risk regulations for non-bank financial companies; Consumer Financial Protection Bureau arbitration study; Consumer Financial Protection Bureau online lending proposal; Consumer Financial Protection Bureau auto financing standard; Consumer Financial Protection Bureau no action letters; Department of Treasury online marketplace lending RFI; Federal Reserve reform; beneficial ownerships disclosures; universal ballot; proxy voting system

H.R. 22 (Developing a Reliable and Innovative Vision for the Economy Act); H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 50 (Unfunded Mandates Information and Transparency Act of 2015); H.R. 234 (Cyber Intelligence Sharing and Protection Act); H.R. 414 (Burdensome Data Collection Relief Act); H.R. 432 (SBIC Advisers Relief Act of 2015); H.R. 644 (Trade Facilitation and Trade Enforcement Act of 2015); H.R. 686 (Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015); H.R. 897 (Reducing Regulatory Burdens Act of 2015); H.R. 989 (Capital Access for Small Businesses and Jobs Act); H.R. 1090 (Retail Investor Protection Act); H.R. 1098 (Investor Choice Act of 2015); H.R. 1163 (Futures Investor Protection Act); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 1314 (Trade Act of 2015); H.R. 1334 (Holding Company Registration Threshold Equalization Act of 2015); H.R. 1525 (Disclosure Modernization and Simplification Act of 2015); H.R. 1659 (Improving Access to Capital for Emerging Growth Companies Act); H.R. 1675 (Encouraging Employee Ownership Act of 2015); H.R. 1723 (Small Company Simple Registration Act of 2015); H.R. 1890 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); H.R. 1982 (Restoring Main Street Investor Protection and Confidence Act); H.R. 2995 (Financial Services and General Government Appropriations Act, 2016); S. 67 (Restoring Main Street Investor Protection and Confidence Act); S. 115 (Fair Tax Act of 2015); S. 153 (I-Squared Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 305 (American Job Protection Act); S. 576 (Encouraging Employee Ownership Act); S. 754 (Cybersecurity Information Sharing Act of 2015); S. 995 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); S. 1484 (Financial Regulatory Improvement Act of 2015); S. 1910 (Financial Services and General Government Appropriations Act, 2016); Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (including Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941; Title I and Title II); Systemic Risk Regulation and liquidation authority; Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; Bilateral Investment Treaties, India, China; Transpacific Partnership; India Market Access Issues; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; Basel Capital Rules; Basel Securitization Framework; G-20; TransAtlantic Trade and Investment Partnership (TTIP); India Financial Sector Reform; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Bankruptcy reform for municipalities; Support of financial literacy; Privacy and cybersecurity issues (general); Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; NASDAQ and NYSE market data fee proposals; CFTC cross-border guidance exemptive order; Financial Stability Oversight Council (FSOC); FSOC consideration of systemically important financial institutions (SIFIs); FSOC Transparency Policy; CFTC exemptive order on extraterritorial scope of Title VII; Legal entity identifier (LEI); Jumpstart our Business Startups (JOBS) Act implementation; Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) consultation paper on margin requirements for uncleared derivatives; Commodity Pools and Securitization; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Leverage capital requirements; Release No. 34-71958, Security-Based Swap Dealers Recordkeeping; Bankruptcy code reform; Municipalities Continuing Disclosure Cooperation (MCDC) Initiative; Recordkeeping Requirements; Rules 17a-3, 17a-4 (Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority); Regulation AB II (asset backed securities - Securities and Exchange Commission, Consumer Financial Protection Bureau); CFTC proposed rule on margin requirements for uncleared swaps; Prudential Regulator's proposed rule on margin requirements for uncleared swaps; Commodity Pools and Securitization; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Inter-affiliate swap transactions; Securities and Exchange Commission proposed rule on margin requirements for uncleared swaps; U.S./EU cross-border regulatory issues; Cybersecurity requests for technical assistance; Trade policy issues (general); Market data (Exchange Act Section 19 and related rules); China "Secure and Controllable" information and communication technologies (ICT) regulations. Mutual Fund 12b-1 Fees; Senior investors/diminished capacity investors; Broker-dealers/investment advisers mitigation of accounts; Basel III Liquidity Coverage Ratio rules; Municipal Advisor Regulation; Public Company Accounting Oversight Board small broker/dealer exemption; U.S./EU financial markets regulatory dialogue; Trade and international issues (general); Diversity (general).

SEC issues, JOBS implementation and related issues. S. 576, H.R. 1675 Encourage Employee Ownership Act and S. 1484, the Financial Regulatory Improvement Act of 2015, Title VI, provisions related to mortgage reform.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 644 - America Gives More Act of 2015 H.R. 1105 / S. 860 - Death Tax Repeal Act of 2015 H.R. 1675 / S. 576 - Encouraging Employee Ownership Act of 2015 S. 698 - Marketplace Fairness Act of 2015 Tax Reform / Tax Extenders H.R. 2775 - Remote Transactions Parity Act of 2015 S. 1996 - Commonsense Reporting Act of 2015 S. 2045 - Middle Class Health Benefits Tax Repeal Act of 2015 S. 2075 - American Worker Health Care Tax Relief Act of 2015 House Ways and Means Committee Reconciliation Recommendations pursuant to S. Con. Res. 11, the Concurrent Resolution on the Budget for Fiscal Year 2016 H.Con.Res. 69 - Expressing the sense of Congress that any reform or repeal of the last-in, first-out method of accounting for inventories (LIFO) would cause irreparable and unnecessary damage to United States. H.R. 765 - Restaurant and Retail Jobs and Growth Act

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

H.R. 22, Developing a Reliable and Innovative Vision for the Economy (DRIVE) Act H.R. 37, Promoting Job Creation and Reducing Small Business Burdens Act H.R. 432, SBIC Advisers Relief Act of 2015 H.R. 414, Burdensome Data Collection Relief Act H.R. 601, Eliminate Privacy Notice Confusion Act H.R. 686/S. 1010, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 H.R. 766, Financial Institution Customer Protection Act of 2015 H.R. 957, Bureau of Consumer Financial Protection-Inspector General Reform (CFPB-IG) Act of 2015 H.R. 1023/S. 552, Small Business Investment Company Capital Act of 2015 H.R. 1090, Retail Investor Protection Act H.R. 1195, Bureau of Consumer Financial Protection Advisory Boards Act H.R. 1210, Portfolio Lending and Mortgage Access Act H.R. 1259, Helping Expand Lending Practices in Rural Communities Act H.R. 1265, Bureau Advisory Commission Transparency Act H.R. 1266, Financial Product Safety Commission Act of 2015 H.R. 1317, To amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to specify how clearing requirements apply to certain affiliate transactions, and for other purposes H.R. 1334, Holding Company Registration Threshold Equalization Act of 2015 H.R. 1525, Disclosure Modernization and Simplification Act of 2015 H.R. 1553, Small Bank Exam Cycle Reform Act of 2015 H.R. 1659, Improving Access to Capital for Emerging Growth Companies Act H.R. 1675, Encouraging Employee Ownership Act of 2015 H.R. 1723, Small Company Simple Registration Act of 2015 H.R. 1737, Reforming CFPB Indirect Auto Financing Guidance Act H.R. 1839, Reforming Access for Investments in Startup Enterprises (RAISE) Act of 2015 H.R. 1847, Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015 H.R. 1941, Financial Institutions Examination Fairness and Reform Act H.R. 1965, Small Company Disclosure Simplification Act H.R. 1975, Securities and Exchange Commission Overpayment Credit Act H.R. 2064, Improving Access to Capital for Emerging Growth Companies Act H.R. 2187, Fair Investment Opportunities for Professional Experts Act H.R. 2213, To provide for a temporary safe harbor from the enforcement of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974 and the Truth in Lending Act, and for other purposes H.R. 2287, National Credit Union Administration Budget Transparency Act H.R. 2289, Commodity End User Relief Act H.R. 2354, Streamlining Excessive and Costly Regulations Review Act H.R. 2356, Fair Access to Investment Research Act of 2015 H.R. 2357, Accelerating Access to Capital Act of 2015 H.R. 2477, Financial Transparency Act of 2015 H.R. 2648/S. 1109, Truth in Settlements Act of 2015 H.R. 2769, Risk-Based Capital Study Act of 2015 H.R. 2789, Capital Access for Small Business Banks Act H.R. 3192, Homebuyers Assistance Act S. 576, Encouraging Employee Ownership Act S. 1484, Financial Regulatory Improvement Act of 2015 S. 1963, Bureau of Consumer Financial Protection Advisory Board Enhancement Act Draft legislation on conflict minerals disclosures Various issues relating to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203); disclosures related to form BE-10; evaluating the security of the U.S. financial sector; Basel III capital standards; Trust Indenture Act (P.L. 76-253); Private Securities Litigation Reform Act (P.L. 104-67), securities litigation;oversight of proxy advisory firms;political spending disclosures; Department of Labor definition of fiduciary duty rules; international capital standards for non-banks; systemic risk regulations for non-bank financial companies; treatment of affiliates of non-financial firms that use a central treasury unit; Consumer Financial Protection Bureau arbitration study; Consumer Financial Protection Bureau online lending proposal; Consumer Financial Protection Bureau no action letters; Federal Reserve reform; beneficial ownerships disclosures; operation of the Financial Stability Board

Sarbanes Oxley Section 404 (b) --Public Company Accounting Oversight Board - Audit Cost Increases Capital Formation Investment Incentives --Reform of Capital Gains Rules --Reform of Net Operating Loss Rules --Reform of Passive Loss Rules --H.R. 2179: PARTNER Act --S. 341: Start-up Jobs and Innovation Act --S. 537: COMPETE Act Expansion of Exemption under SEC Regulation A --H.R. 1839: Reforming Access for Investments in Startup Enterprises (RAISE) Act Legislative Amendments to SEC Rule 12b-2 Filing Status Definitions --Fostering Innovation Act (House Discussion Draft) XBRL Exemption for Small Public Companies --H.R. 1965: Small Company Disclosure Simplification Act --H.R. 37: Promoting Job Creation and Reducing Small Business Burdens Act Capital Market Enhancements --SEC Office of Small Business Policy Responsibilities --H.R. 1525: Disclosure Modernization and Simplification Act --H.R. 1675/S.576: Encouraging Employee Ownership Act --H.R. 1723: Small Company Simple Registration Act --H.R. 2064: Improving Access to Capital for Emerging Growth Companies Act --H.R. 2357: Accelerating Access to Capital Act Proxy Advisory Services --Impact of Policies on Small Public Companies

Client expense: $2,130,000 · Firm income: Not reported

H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 50 (Unfunded Mandates Information and Transparency Act of 2015); H.R. 234 (Cyber Intelligence Sharing and Protection Act); H.R. 414 (Burdensome Data Collection Relief Act); H.R. 432 (SBIC Advisers Relief Act of 2015); H.R. 686 (Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015); H.R. 897 (Reducing Regulatory Burdens Act of 2015); H.R. 989 (Capital Access for Small Businesses and Jobs Act); H.R. 1090 (Retail Investor Protection Act); H.R. 1098 (Investor Choice Act of 2015); H.R. 1163 (Futures Investor Protection Act); H.R. 1314 (Trade Act of 2015); H.R. 1317 (To amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to specify how clearing requirements apply to certain affiliate transactions, and for other purposes); H.R. 1334 (Holding Company Registration Threshold Equalization Act of 2015); H.R. 1525 (Disclosure Modernization and Simplification Act of 2015); H.R. 1659 (Improving Access to Capital for Emerging Growth Companies Act); H.R. 1675 (Encouraging Employee Ownership Act of 2015); H.R. 1723 (Small Company Simple Registration Act of 2015); H.R. 1890 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); H.R. 1982; (Restoring Main Street Investor Protection and Confidence Act); S. 67 (Restoring Main Street Investor Protection and Confidence Act); S. 115 (Fair Tax Act of 2015); S. 153 (I-Squared Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 305 (American Job Protection Act); S. 576 (Encouraging Employee Ownership Act); S. 754 (Cybersecurity Information Sharing Act of 2015); S. 995 (Bipartisan Congressional Trade Priorities and Accountability Act of 2015); Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (including Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941; Title I and Title II); Systemic Risk Regulation and liquidation authority; Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; Bilateral Investment Treaties, India, China; Transpacific Partnership; India Market Access Issues; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; Basel Capital Rules; Basel Securitization Framework; G-20; TransAtlantic Trade and Investment Partnership (TTIP); India Financial Sector Reform; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Bankruptcy reform for municipalities; Support of financial literacy; Privacy and cybersecurity issues (general); Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; NASDAQ and NYSE market data fee proposals; CFTC cross-border guidance; Financial Stability Oversight Council (FSOC); FSOC consideration of systemically important financial institutions (SIFIs); FSOC Transparency Policy; CFTC exemptive order on extraterritorial scope of Title VII; Legal entity identifier (LEI); Jumpstart our Business Startups (JOBS) Act implementation; Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) consultation paper on margin requirements for uncleared derivatives; Commodity Pools and Securitization; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Leverage capital requirements; Release No. 34-71958, Security-Based Swap Dealers Recordkeeping; Bankruptcy code reform; Municipalities Continuing Disclosure Cooperation (MCDC) Initiative; Recordkeeping Requirements; Rules 17a-3, 17a-4 (Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority); Regulation AB II (asset backed securities - Securities and Exchange Commission, Consumer Financial Protection Bureau); CFTC proposed rule on margin requirements for uncleared swaps; Prudential Regulator's proposed rule on margin requirements for uncleared swaps; Commodity Pools and Securitization; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Inter-affiliate swap transactions; Securities and Exchange Commission proposed rule on margin requirements for uncleared swaps; U.S./EU cross-border regulatory issues; Cybersecurity requests for technical assistance; Trade policy issues (general); Market data (Exchange Act Section 19 and related rules); China "Secure and Controllable" information and communication technologies (ICT) regulations. Mutual Fund 12b-1 Fees; Senior investors/diminished capacity investors; Broker-dealers/investment advisers mitigation of accounts; Basel III Liquidity Coverage Ratio rules.

SEC issues, JOBS implementation and related issues. S. 576, H.R. 1675 Encourage Employee Ownership Act and S. 1484, the Financial Regulatory Improvement Act of 2015, Title VI, provisions related to exempt securities..

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 37, Promoting Job Creation and Reducing Small Business Burdens Act H.R. 432, SBIC Advisers Relief Act of 2015 H.R. 601, Eliminate Privacy Notice Confusion Act H.R. 686/S. 1010, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 H.R. 766, Financial Institution Customer Protection Act of 2015 H.R. 1023/S. 552, Small Business Investment Company Capital Act of 2015 H.R. 1195, Bureau of Consumer Financial Protection Advisory Boards Act H.R. 1210, Portfolio Lending and Mortgage Access Act H.R. 1259, Helping Expand Lending Practices in Rural Communities Act H.R. 1265, Bureau Advisory Commission Transparency Act H.R. 1334, Holding Company Registration Threshold Equalization Act of 2015 H.R. 1525, Disclosure Modernization and Simplification Act of 2015 H.R. 1553, Small Bank Exam Cycle Reform Act of 2015 H.R. 1659, Improving Access to Capital for Emerging Growth Companies Act H.R. 1675, Encouraging Employee Ownership Act of 2015 H.R. 1723, Small Company Simple Registration Act of 2015 H.R. 1737, Reforming CFPB Indirect Auto Financing Guidance Act H.R. 1839, Reforming Access for Investments in Startup Enterprises (RAISE) Act of 2015 H.R. 1847, Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015 H.R. 1965, Small Company Disclosure Simplification Act H.R. 1975, Securities and Exchange Commission Overpayment Credit Act H.R. 2064, Improving Access to Capital for Emerging Growth Companies Act H.R. 2187, Fair Investment Opportunities for Professional Experts Act H.R. 2213, To provide for a temporary safe harbor from the enforcement of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974 and the Truth in Lending Act, and for other purposes H.R. 2266, Commercial Real Estate and Economic Development (CREED) Act of 2015 H.R. 2287, National Credit Union Administration Budget Transparency Act H.R. 2289, Commodity End User Relief Act H.R. 2354, Streamlining Excessive and Costly Regulations Review Act H.R. 2356, Fair Access to Investment Research Act of 2015 H.R. 2357, Accelerating Access to Capital Act of 2015 H.R. 2477, Financial Transparency Act of 2015 H.R. 2648/S. 1109, Truth in Settlements Act of 2015 H.R. 2789, Capital Access for Small Business Banks Act S. 576, Encouraging Employee Ownership Act S. 1484, Financial Regulatory Improvement Act of 2015 Fiscal Year 2016 Financial Services Bill, including provisions relating to Womak Amendment requiring the Consumer Financial Protection Bureau to study the use of arbitration Draft legislation on conflict minerals disclosures Various issues relating to regulatory reform in the financial industry, including implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203); disclosures related to form BE-10; evaluating the security of the U.S. financial sector; Basel III capital standards; Private Securities Litigation Reform Act (P.L. 104-67), securities litigation; oversight of proxy advisory firms; political spending disclosures; Department of Labor definition of fiduciary duty rules; international capital standards for non-banks; systemic risk regulations for non-bank financial companies; treatment of affiliates of non-financial firms that use a central treasury unit; Consumer Financial Protection Bureau arbitration study

H.R. 644 - America Gives More Act of 2015 H.R. 1105 / S. 860 - Death Tax Repeal Act of 2015 H.R. 1675 / S. 576 - Encouraging Employee Ownership Act of 2015 S. 698 - Marketplace Fairness Act of 2015 Legislation Not Introduced - Tax Reform / Tax Extenders H.R. 2775 - Remote Transactions Parity Act of 2015

Client expense: $270,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Sarbanes Oxley Section 404 (b) -Public Company Accounting Oversight Board Audit Cost Increases Capital Formation Investment Incentives -Reform of Capital Gains Rules -Reform of Net Operating Loss Rules -Reform of Passive Loss Rules -PARTNER Act (House Discussion Draft) -S. 341: Start-up Jobs and Innovation Act -S. 537: COMPETE Act Expansion of Exemption under SEC Regulation A - Proposed Legislation -Proposed SEC Rule on Reg A+ Legislative Amendments to SEC Rule 12b-2 Filing Status Definitions -Fostering Innovation Act (House Discussion Draft) XBRL Exemption for Small Public Companies -H.R. 37: Promoting Job Creation and Reducing Small Business Burdens Act -Small Company Disclosure Simplification Act (House Discussion Draft) Stock Exchange Tick Size -H.R. 37: Promoting Job Creation and Reducing Small Business Burdens Act Capital Market Enhancements -H.R. 1525: Disclosure Modernization and Simplification Act -H.R. 1723: Small Company Simple Registration Act -S. 576: Encouraging Employee Ownership Act -SEC Office of Small Business Policy Responsibilities -Small Business Freedom to Grow Act (House Discussion Draft) -Improving Access to Capital for Emerging Growth Companies Act (House Discussion Draft)

Client expense: $2,010,000 · Firm income: Not reported

H.R. 26 (Terrorism Risk Insurance Program Reauthorization Act of 2015); H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 50 (Unfunded Mandates Information and Transparency Act of 2015); H.R. 234 (Cyber Intelligence Sharing and Protection Act); H.R. 414 (Burdensome Data Collection Relief Act); H.R. 432 (SBIC Advisers Relief Act of 2015); H.R. 686 (Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015); H.R. 897 (Reducing Regulatory Burdens Act of 2015); H.R. 989 (Capital Access for Small Businesses and Jobs Act); H.R. 1090 (Retail Investor Protection Act); H.R. 1098 (Investor Choice Act of 2015); H.R. 1163 (Futures Investor Protection Act); H.R. 1317 (To amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to specify how clearing requirements apply to certain affiliate transactions, and for other purposes); H.R. 1334 (Holding Company Registration Threshold Equalization Act of 2015); H.R. 1525 (Disclosure Modernization and Simplification Act of 2015); H.R. 1659 (Improving Access to Capital for Emerging Growth Companies Act); H.R. 1675 (Encouraging Employee Ownership Act of 2015); H.R. 1723 (Small Company Simple Registration Act of 2015); S. 67 (Restoring Main Street Investor Protection and Confidence Act); S. 115 (Fair Tax Act of 2015); S. 153 (I-Squared Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 305 (American Job Protection Act); S. 576 (Encouraging Employee Ownership Act); S. 754 (Cybersecurity Information Sharing Act of 2015); Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Swap execution facilities; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (including Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941; Title I and Title II); Systemic Risk Regulation and liquidation authority; Market Structure Issues (dark pools, flash quotes, high frequency trading); China - strategic and economic dialogue; Bilateral Investment Treaties, India, China; Transpacific Partnership; India Market Access Issues; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; Basel Capital Rules; Basel Securitization Framework; G-20; TransAtlantic Trade and Investment Partnership (TTIP); Trade Promotion Authority (TPA); India Financial Sector Reform; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cybersecurity issues (general); Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; NASDAQ and NYSE market data fee proposals; CFTC cross-border guidance; CFTC exemptive order on extraterritorial scope of Title VII; Computerized trading; Legal entity identifier (LEI); Jumpstart our Business Startups (JOBS) Act implementation; Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) consultation paper on margin requirements for uncleared derivatives; Commodity Pools and Securitization; Securities and Exchange Commission Rules 15Ba1-1 through 15Ba1-8; CFTC recordkeeping requirements (CEA Section 23.201); Office of Financial Research study (Asset Management and Financial Stability); FSOC consideration of systemically important financial institutions (SIFIs); Leverage capital requirements; Release No. 34-71958, Security-Based Swap Dealers Recordkeeping; Bankruptcy code reform; Municipalities Continuing Disclosure Cooperation (MCDC) Initiative; Recordkeeping Requirements; Rules 17a-3, 17a-4 (Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority); Regulation AB II (asset backed securities - Securities and Exchange Commission, Consumer Financial Protection Bureau); CFTC proposed rule on margin requirements for uncleared swaps; Prudential Regulator's proposed rule on margin requirements for uncleared swaps; Commodity Pools and Securitization; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Inter-affiliate swap transactions; Securities and Exchange Commission proposed rule on margin requirements for uncleared swaps; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; U.S./EU cross-border regulatory issues; Cybersecurity requests for technical assistance; Cybersecurity proposals; Trade policy issues (general); Market data (Exchange Act Section 19 and related rules); China "Secure and Controllable" information and communication technologies (ICT) regulations. Small Business Credit Availability Act (not yet introduced); Startup Capital Modernization Act (not yet introduced); Fostering Innovation Act (not yet introduced).

Sarbanes Oxley Section 404 (b) -Public Company Accounting Oversight Board Audit Cost Increases Capital Formation Investment Incentives -Reform of Capital Gains Rules -Reform of Net Operating Loss Rules -Reform of Passive Loss Rules -PARTNER Act (House Discussion Draft) -S. 341: Start-up Jobs and Innovation Act -S. 537: COMPETE Act Expansion of Exemption under SEC Regulation A - Proposed Legislation -Proposed SEC Rule on Reg A+ Legislative Amendments to SEC Rule 12b-2 Filing Status Definitions -Fostering Innovation Act (House Discussion Draft) XBRL Exemption for Small Public Companies -H.R. 37: Promoting Job Creation and Reducing Small Business Burdens Act -Small Company Disclosure Simplification Act (House Discussion Draft) Stock Exchange Tick Size -H.R. 37: Promoting Job Creation and Reducing Small Business Burdens Act Capital Market Enhancements -H.R. 1525: Disclosure Modernization and Simplification Act -H.R. 1723: Small Company Simple Registration Act -S. 576: Encouraging Employee Ownership Act -SEC Office of Small Business Policy Responsibilities -Small Business Freedom to Grow Act (House Discussion Draft) -Improving Access to Capital for Emerging Growth Companies Act (House Discussion Draft)

Client expense: $2,010,000 · Firm income: Not reported

SEC issues, JOBS implementation and related issues. S. 576 and H.R. 1675 Encourage Employee Ownership Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 644 - America Gives More Act of 2015 H.R. 1105 / S. 860 - Death Tax Repeal Act of 2015 H.R. 1675 / S. 576 - Encouraging Employee Ownership Act of 2015 S. 698 - Marketplace Fairness Act of 2015 Legislation Not Introduced - Marketplace Fairness / Internet Sales Tax - draft proposals from Rep. Bob Goodlatte and Rep. Jason Chaffetz Legislation Not Introduced - Tax Reform / Tax Extenders

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 26, Terrorism Risk Insurance Program Reauthorization Act of 2015 H.R. 37, Promoting Job Creation and Reducing Small Business Burdens Act H.R. 432, SBIC Advisers Relief Act of 2015 H.R. 601, Eliminate Privacy Notice Confusion Act H.R. 685, Mortgage Choice Act of 2015 H.R. 686, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 H.R. 1023, Small Business Investment Company Capital Act of 2015 H.R. 1195, Bureau of Consumer Financial Protection Advisory Boards Act H.R. 1210, Portfolio Lending and Mortgage Access Act H.R. 1259, Helping Expand Lending Practices in Rural Communities Act H.R. 1265, Bureau Advisory Commission Transparency Act H.R. 1266, Financial Product Safety Commission Act of 2015 H.R. 1334, Holding Company Registration Threshold Equalization Act of 2015 H.R. 1525, Disclosure Modernization and Simplification Act of 2015 H.R. 1675, Encouraging Employee Ownership Act of 2015 S. 181, Startup Act S. 576, Encouraging Employee Ownership Act H. Res. 27, Providing for consideration of the bill (H.R. 37) to make technical corrections to the Dodd-Frank Wall Street Reform and Consumer Protection Act, to enhance the ability of small and emerging growth companies to access capital through public and private markets, to reduce regulatory burdens, and for other purposes; providing for consideration of the bill (H.R. 185) to reform the process by which Federal agencies analyze and formulate new regulations and guidance documents; and providing for consideration of the bill (H.R. 240) making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2015, and for other purposes Draft legislation on conflict minerals disclosures Potential legislation similar to H.R. 634, Business Risk Mitigation and Price Stabilization Act of 2013 Potential legislation titled Making All Data Open for Financial Transparency MADOFF Act of 2015 Various issues relating to regulatory reform in the financial industry; implementation of and changes to the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203), including regulation of money market funds and third party payment systems; Basel III capital standards; Private Securities Litigation Reform Act (P.L. 104-67), securities litigation; oversight of proxy advisory firms; political spending disclosures; Department of Labor definition of fiduciary duty rules; international capital standards for non-banks; systemic risk regulations for non-bank financial companies; credit risk retention rules; treatment of affiliates of non-financial firms that use a central treasury unit; Consumer Financial Protection Bureau arbitration study