Outbound Investment Transparency Act of 2023

Export control reform initiatives, cybersecurity, industrial base policy, National Semiconductor Technology Center, DARPA Microelectronics Commons, Trusted and Assured Microelectronics Program, sect. DOD appropriations. Issues related to U.S national security and semiconductor supply chain resiliency in relation to Taiwan. Semiconductor policy issues related to the FY 25 National Defense Authorization Act (P.L. 118-159; export control, outbound investment, NEPA, and other semiconductor related matters). The Building Chips in America Act of 2023 (P.L. 118-105). Implementation of the CHIPS and Science Act of 2022 (PL 117-167). The Chip Equipment, Quality, Usefulness, and Integrity Protection (Chip EQUIP) Act (S. 4585, H.R. 8826). Outbound Investment Transparency Act of 2023 (S.2678) and the Comprehensive Outbound Investment National Security (COINS) Act (H.R. 10559). Chinese Military and Surveillance Company Sanctions Act of 2023 (H.R.760). Maintaining American Superiority by Improving Export Control Transparency Act (H.R. 6614). Various measures under consideration by the House Foreign Affairs Committee (H.R. 6602, H.R. 6606, H.R. 5613, H.R. 7151, H.R. 8152, H.R. 8315, H.R. 8924), and the Preventing Regional Catastrophes in 2027 Act); policy matters related to the Export Administration Regulations (EAR) controls on advanced computing integrated circuits (ICs), computer commodities that contain such ICs, and certain semiconductor manufacturing items; policy matters related to the illicit diversion of semiconductors to Russia. Legislation related to semiconductor hardware security. Issues related to guardrails on CHIPS Act funding. Proposed regulation on Export Control Framework for AI diffusion. Issues related to DoDs procurement of microelectronics.

Client expense: $300,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Defense, Dept of (DOD), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Natl Security Council (NSC), SENATE, State, Dept of (DOS), Treasury, Dept of, White House Office

S. 2678, Outbound Investment Transparency Act of 2023

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 3033, Solidify Iran Sanctions Act, all provisions. H.R. 6408, To amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations, all provisions. H.R. 9495, Stop Terror-Financing and Tax Penalties on American Hostages Act, all provisions. H.R. 9843, Patriotic Investment Act, all provisions. H.R. 10445, Further Continuing Appropriations and Disaster Relief Supplemental Appropriations Act, 2025, (issues related to the Comprehensive Outbound Investment National Security Act of 2024 and implementation of the Corporate Transparency Act). H.R. 10515, American Relief Act, 2025, (issues related to Outbound Investment Transparency). H.R. 10545, American Relief Act, 2025, (issues related to Outbound Investment Transparency). S. 2678, Outbound Investment Transparency Act of 2023, all provisions. S. 3197, Iranian Sanctions Enforcement Act of 2023, all provisions. S. 5188, Patriotic Investment Act, all provisions. Issues related to Anti-Money Laundering and Combating the Financing of Terrorism; Chinese Involvement with Fentanyl Trafficking; Cryptocurrency in Latin America; Evaluating Sanctions, Export Controls, and AML Regulations, Regulatory Authorities, and Legislative Authorities; Hamas Smuggling Tunnels, Financial Assets, and Funding Streams; Hezbollahs International Financing Network; Implementation of Beneficial Ownership Requirements; International Narcotics Production and Trafficking; Iran Funding Streams; Iranian Oil Sanctions Enforcement; Outbound Investment Transparency; Tax-Exempt Status of Terrorist Supporting Organizations; U.S. Adversaries Sanctions Evasions Schemes; U.S. Anti-Corruption Sanctions and Strategy; U.S. China Sanctions Policy; U.S. Economic Warfare Capabilities; U.S. Exports Control Policy; U.S. Hamas Sanctions Policy; U.S. Hezbollah Sanctions Policy; U.S. Iran Sanctions Policy; U.S. Narcotics Sanctions Policy; U.S. North Korea Sanctions Policy; U.S. Russia Sanctions Policy; U.S. Sanctions Authorities, Implementation, Enforcement, Resourcing, and Policy; U.S. Syria Sanctions Policy; U.S. Terror Finance Policy; U.S. Terrorism Sanctions Policy; U.S. Venezuela Sanctions Policy; and U.S. West Bank Sanctions Policy (no bill).

S.2678 - Outbound Investment Transparency Act of 2023 Comprehensive Outbound Investment National Security (COINS) Act

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

General issues pertaining to the banking and finance industries, specifically the Credit Card Competition Act; S. 2678 Outbound Investment Transparency Act

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Met with the House and Senate on preemption issues Met with the House and Senate on liquidity issues Met with the House and Senate on issues impacting large global banks Met with the House and Senate on digital assets Met with the House and Senate on sanctions legislation Met with the House and Senate on market regulations Met with the House and Senate on bank capital regulations Met with the House and Senate on credit card pricing Met with the House and Senate on AML and beneficial ownership implementation/regulations Met with the House and Senate on geopolitical issues impacting the global economy, including China Met with the House and Senate on proposals related to outbound investment Met with the House and Senate on artificial intelligence S.J.Con.Res.50 Congressional Disapproval of the Rule Submitted by the Securities and Exchange Commission (SEC) relating to Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure - all provisions H.J.Res. 122 and S.J.Res. 70 - Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to Credit Card Penalty Fees (Regulation Z) (All provisions) H.J.Res.109 - Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to Staff Accounting Bulletin No. 121 H.R.760, Chinese Military and Surveillance Company Sanctions Act of 2023 - all provisions H.R.6349, Preventing Adversaries from Developing Critical Capabilities - all provisions S.1838 and H.R.3881, Credit Card Competition Act - all provisions S.2678, Outbound Investment Transparency Act - all provisions H.R.Draft, Comprehensive Outbound Investment National Security (COINS) Act - all provisons

Issues related to international trade rules, U.S.-China relations, and export controls including H.R. 8152 Remote Access Security Act (all provisions); implementation of P.L. 115-232 Export Control Reform Act (integrated circuits (ICs) specific provisions), amendments to Export Administration Regulations (EAR), and outbound investment, including S.2678 Outbound Investment Transparency Act of 2023 (semiconductor provisions).

Client expense: $260,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Natl Security Council (NSC), SENATE, State, Dept of (DOS), Treasury, Dept of

S.686, Restrict Act H.R. 8315, ENFORCE Act S.2678, Outbound Investment Transparency Act H.R. 760, Chinese Military and Surveillance Company Sanctions Act H.R. 3136, Outbound Investment Transparency Act H.R. 6349, Preventing Adversaries from Developing Critical Capabilities Act

Client expense: Not reported · Firm income: $80,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1807, the Improving Disclosure for Investors Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 2590, Unlocking Capital for Small Business Act; H.R. 2627 - Increasing Investor Opportunities Act (closed-end fund bill); H.R. 2799, Expanding Access to Capital Act of 2023; H.R. 3063, Retirement Fairness for Charities and Education Institutions Act; H.R. 4237, Ensuring Sound Guidance Act; HR 4551, the "Protecting Investors Personally Identifiable Information Act"; H.R. 4763, the Financial Innovation and Technology for the 21st Century Act; H.R.4766, Clarity for Payment Stablecoins Act of 2023; H.R. 4767, Protecting American's Retirement Savings from Politics Act; H.R. 5009, Servicemember Quality of Life Improvement and National Defense Authorization Act for Fiscal Year 2025; H.R. 8339, the "SEC Reform and Restructure Act; H.R. 8773, FY 2025 Financial Services and General Government Appropriations Bill (3 provisions in the FSGG Bill Report pertaining to the SEC: PDA rule withdrawal, economic analysis enhancement, sensible implementation); H. J. Res 142, Providing for congressional disapproval of the Department of Labor fiduciary rule; S.2678 - Outbound Investment Transparency Act of 2023; S. 3815 - the Improving Disclosure for Investors Act of 2024; S. 4628, National Defense Authorization Act for Fiscal Year 2025 (China-related provisions); S. 4760, Digital Commodities Consumer Protection Act of 2022; S. 4917 - Retirement Fairness for Charities and Educational Institutions Act of 2024; S.5139 - A bill to amend the Securities Act of 1933 to address emerging growth companies, and for other purposes (the Empowering Main Street in America Act); H.R. ___, To codify the special purpose broker dealer, and for other purposes; Prudential agency (Federal Reserve, OCC and FDIC) proposal to implement the Basel Endgame reforms in the U.S. and congressional (U.S. House and Senate) oversight of the same, including revisions to the trading book capital rules, stress testing, capital surcharges and buffers; President Biden Executive Order 14105, Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC Staff Accounting Bulletin 121; SEC Security-based Swaps Large Position Reporting proposed rule; SEC proposed rule regarding the safeguarding of client assets (custody proposal); SEC proposed rule on Predictive Data Analytics; SEC proposals to modify equity market structure; SEC final rule related to clearing of U.S. Treasury securities; SEC proposed rule to address Volume-Based Exchange Transaction Pricing for NMS Stocks; Senator Stabenow's Discussion Draft cryptocurrency legislation; SEC CAT Fee filings by the SROs; SEC approval of SROs rules limiting exchange liability; CFPB enforcement action relating to the National Collegiate Student Loan Trusts; FDIC Brokered Deposit Proposal; FDIC Proposal to amend change in Bank Control Action Regulations; H.R. __, Comprehensive Outbound Investment National Security Coins Act of 2024; U.S. Treasury Departments Final Rule, Provisions Pertaining to U.S. Investments in Certain National Security Technologies and Products in Countries of Concern; SEC No-Action Relief for SEC Rule 15c2-11; Federal Reserve Proposal to revise its stress testing process; Congressman Fitzgerald's discussion draft GSE Reform legislation; SEC proposal on short sale reporting/13f-2 extension; Sovereign Debt restructuring proposals.

H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1807 - Improving Disclosure for Investors Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 7780 Safeguarding Options for Retirement Act; S. 1453, the LOCAL Infrastructure Act; S. 1695, American Infrastructure Bond Act of 2023; S.2678 - Outbound Investment Transparency Act of 2023; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC proposals to modify equity market structure; SEC proposal regarding reporting of Large Security-Based Swap Positions; SEC proposal regarding safeguarding Advisory Client Assets; SEC No-Action Letter on Rule 15c2-11; Sustainable Finance - Legislative proposals related to Environmental, Social, and Governance considerations in investment decisions; Artificial intelligence and predictive data analytics; Legislation related to buying OTC securities on Margin; H.R. __, Comprehensive Outbound Investment National Security Coins Act of 2024.

Client expense: $2,990,000 · Firm income: Not reported

S. 2678, Outbound Investment Transparency Act of 2023

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1103, Hong Kong Economic and Trade Office (HKETO) Certification Act, all provisions. H.R. 1398, Protect Americas Innovation and Economic Security from CCP Act, all provisions. H.R. 510, Chinese Currency Accountability Act, all provisions. H.R. 5613, Sanctions Lists Harmonization Act, all provisions. H.R. 6606, To amend the Export Control Reform Act of 2018 relating to the statement of policy, all provisions. H.R. 6614, Maintaining American Superiority by Improving Export Control Transparency Act, all provisions. H.R. 7151, Export Control Enforcement and Enhancement Act, all provisions. H.R. 8361, Economic Espionage Prevention Act, all provisions. H.R. 8926, DFC Modernization and Reauthorization Act of 2024, all provisions. H.R. 9843, Patriotic Investment Act, all provisions. S. 2678, Outbound Investment Transparency Act of 2023, all provisions. S. 3197, Iranian Sanctions Enforcement Act of 2023, all provisions. S. 4548, Foreign Extortion Prevention Technical Corrections Act, all provisions. S. 5043, Sanctions Lists Harmonization Act, all provisions. S. 5188, Patriotic Investment Act, all provisions. Issues related to Anti-Money Laundering and Combating the Financing of Terrorism; Chinese Involvement with Fentanyl Trafficking; Expanding Trade Transparency Units; Foreign Investment Screening; Hamas Smuggling Tunnels, Financial Assets, and Funding Streams; Hezbollahs International Financing Network; Illicit Finance in South Africa; Illicit Finance in Turkey; Implementation of the Bank Secrecy Act; Implementation of the International Emergency Economic Powers Act; International Narcotics Production and Trafficking; Iran Funding Streams; Iranian Oil Sanctions Enforcement; Tax-Exempt Status of Terrorist Supporting Organizations; U.S. Adversaries Sanctions Evasions Schemes; U.S. Anti-Corruption Sanctions and Strategy; U.S. China Sanctions Policy; U.S. Exports Control Policy; U.S. Hamas Sanctions Policy; U.S. Hezbollah Sanctions Policy; U.S. Iran Financial Waivers Policy; U.S. Iran Sanctions Policy; U.S. Narcotics Sanctions Policy; U.S. Russia Sanctions Policy; U.S. Sanctions Authorities, Implementation, Enforcement, and Policy; U.S. Syria Sanctions Policy; U.S. Terror Finance Policy; U.S. Terrorism Sanctions Policy; and U.S. Venezuela Sanctions Policy (no bill).

Issues related to international trade rules, U.S.-China relations, and export controls including H.R. 8152 Remote Access Security Act (all provisions); implementation of P.L. 115-232 Export Control Reform Act (integrated circuits (ICs) specific provisions), amendments to Export Administration Regulations (EAR), and outbound investment, including S.2678 Outbound Investment Transparency Act of 2023 (semiconductor provisions).

Client expense: $260,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Natl Security Council (NSC), SENATE, State, Dept of (DOS), Treasury, Dept of

H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1807, the Improving Disclosure for Investors Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 2590, Unlocking Capital for Small Business Act; H.R. 2627 - Increasing Investor Opportunities Act (closed-end fund bill); H.R. 2799, Expanding Access of Capital Act of 2023; H.R. 3063, Retirement Fairness for Charities and Education Institutions Act; H.R. 3136 - The National Critical Capabilities Defense Act; H.R. 4237, a bill to amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors; HR 4551, the "Protecting Investors Personally Identifiable Information Act" (attached to Capital Markets Subcommittee hearing on 3/20/24); H.R. 4763 - the Financial Innovation and Technology for the 21st Century Act; H.R.4766 - Clarity for Payment Stablecoins Act of 2023; H.R. 4767 - Protecting American's Retirement Savings from Politics Act; H.R. 8339, the "SEC Reform and Restructure Act; H.R. 8773, FY 2025 Financial Services and General Government Appropriations Bill (3 provisions in the FSGG Bill Report pertaining to the SEC: PDA rule withdrawal, economic analysis enhancement, sensible implementation); H.R. 8818, American Privacy Rights Act; H.J. Res. 109. Providing for congressional disapproval of the rule submitted by the SEC related to "Staff Accounting Bulletin No. 121."; H.J. Res. 116, providing for congressional disapproval of DOL's independent contractor rule; H. J. Res 142, Providing for congressional disapproval of the Department of Labor fiduciary rule; S.2678 - Outbound Investment Transparency Act of 2023; S. 3815 - the Improving Disclosure for Investors Act of 2024; S. 4628, National Defense Authorization Act for Fiscal Year 2025 (China-related provisions); S. 4760, Digital Commodities Consumer Protection Act of 2022; S. 4917 - Retirement Fairness for Charities and Educational Institutions Act of 2024; S.5139 - A bill to amend the Securities Act of 1933 to address emerging growth companies, and for other purposes (the Empowering Main Street in America Act); S.J. Res.__, a Joint Resolution providing for congressional disapproval of the rule submitted by the SEC related to "Staff Accounting Bulletin No. 121."; H.R. ___, To codify the special purpose broker dealer, and for other purposes; H.R. ____, to exempt 144a fixed income securities from Rule 15c2-11; HR ____, to require an assessment and report to Congress on the adequacy of the SECs cost-benefit analysis with respect to major rulemakings (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to mandate minimum comment periods of at least 60 days for all SEC-initiated rulemakings, with certain exceptions, calculated from the date published in the Federal Register (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require the Commission to review certain reviewable actions by SEC staff (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require the semi-annual testimony of the Chairman of the SEC before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, with testimony on at least one instance to include the testimony of the entire Commission (attached to Capital Markets Subcommittee hearing on 3/20/24); Prudential agency (Federal Reserve, OCC and FDIC) proposal to implement the Basel Endgame reforms in the U.S. and congressional (U.S. House and Senate) oversight of the same, including revisions to the trading book capital rules, stress testing, capital surcharges and buffers; Biden Administration executive order related to China; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC Amendments to NMS Plan for the Consolidated Audit Trail-Data Security; SEC Staff Accounting Bulletin 121; SEC Security-based Swaps Large Position Reporting proposed rule; SEC proposed rule regarding the safeguarding of client assets (custody proposal); SEC proposed rule on Predictive Data Analytics; SEC proposal regarding reporting of Securities Loans; SEC proposals to modify equity market structure; SEC final rule related to clearing of U.S. Treasury securities; SEC proposed rule to address Volume-Based Exchange Transaction Pricing for NMS Stocks; Senator Stabenow's Discussion Draft cryptocurrency legislation; SEC CAT Fee filings by the SROs; SEC approval of SROs rules limiting exchange liability; SEC enforcement cases related to off-channel communications; CFPB enforcement action relating to the National Collegiate Student Loan Trusts; FDIC Brokered Deposit Proposal; FDIC Proposal to amend change in Bank Control Action Regulations.

H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1807 - Improving Disclosure for Investors Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 7780 Safeguarding Options for Retirement Act; S. 1453, the LOCAL Infrastructure Act; S. 1695, American Infrastructure Bond Act of 2023; S.2678 - Outbound Investment Transparency Act of 2023; H.R. ____, to exempt 144a fixed income securities from Rule 15c2-11; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC proposals to modify equity market structure; SEC proposal regarding reporting of securities loans; SEC proposal regarding position reporting of Large Security-Based Swap Positions; SEC proposal regarding safeguarding Advisory Client Assets; SEC No-Action Letter on Rule 15c2-11; Sustainable Finance - Legislative proposals related to Environmental, Social, and Governance considerations in investment decisions; Artificial intelligence and predictive data analytics; Legislation related to buying OTC securities on Margin.

Client expense: $1,550,000 · Firm income: Not reported

Export control reform initiatives, cybersecurity, industrial base policy, National Semiconductor Technology Center, DARPA Microelectronics Commons, Trusted and Assured Microelectronics Program, sect. DOD appropriations. Issues related to U.S national security and semiconductor supply chain resiliency in relation to Taiwan. Semiconductor policy issues related to the FY 25 National Defense Authorization Act (H.R. 8070) (export control, outbound investment, NEPA, and other semiconductor related matters). The Building Chips in America Act of 2023 (S. 2228, H.R. 4549). Implementation of the CHIPS and Science Act of 2022 (PL 117-167). The Chip Equipment, Quality, Usefulness, and Integrity Protection (Chip EQUIP) Act (S. 4585, H.R. 8826). Outbound Investment Transparency Act of 2023 (S.2678). Chinese Military and Surveillance Company Sanctions Act of 2023 (H.R.760). Maintaining American Superiority by Improving Export Control Transparency Act (H.R. 6614). Various measures under consideration by the House Foreign Affairs Committee (H.R. 6602, H.R. 6606, H.R. 5613, H.R. 7151, H.R. 8152, H.R. 8315, H.R. 8924), and the Preventing Regional Catastrophes in 2027 Act); policy matters related to the Export Administration Regulations (EAR) controls on advanced computing integrated circuits (ICs), computer commodities that contain such ICs, and certain semiconductor manufacturing items; policy matters related to the illicit diversion of semiconductors to Russia. Chip EQUIP Act (S. 4585). Legislation related to semiconductor hardware security.Issues related to guardrails on CHIPS Act funding.

Client expense: $400,000 · Firm income: Not reported

H.R. 3033, Solidify Iran Sanctions Act, all provisions. H.R. 3333, FEND Off Fentanyl Act, all provisions. H.R. 4681, Illicit Captagon Trafficking Suppression Act, all provisions. H.R. 4691, Iran Sanctions Relief Review Act of 2023, all provisions. H.R. 5921, No U.S. Financing for Iran Act of 2023, all provisions. H.R. 5923, Iran-China Energy Sanctions Act of 2023, all provisions. H.R. 5947, To provide for the rescission of certain waivers and licenses relating to Iran and for other purposes, all provisions. H.R. 6015, Iran Sanctions Accountability Act of 2023, all provisions. H.R. 6245, Holding Iranian Leaders Accountable Act of 2023, all provisions. H.R. 6408, To amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations, all provisions. H.R. 6586, To require a strategy to oppose financial or material support by foreign countries to the Taliban, and for other purposes, all provisions. H.R. 8197, Countering Beijings Weaponization (CBW) of Fentanyl Act, all provisions. H.R. 8416, Drones for First Responders Act, all provisions. H.R. 8773, Financial Services and General Government Appropriations Act, 2025, (issues related to Anti-Money Laundering and Combating the Financing of Terrorism; Congressional Oversight of U.S. Foreign Policy; IMF Funding for Iran; Iran Funding Streams; Turkish Illicit Finance; U.S. Exports Control Policy; U.S. Iran Sanctions Policy; U.S. Sanctions Authorities, Implementation, Enforcement, and Policy; and U.S. Terrorism Sanctions Policy). H.R.8926, DFC Modernization and Reauthorization Act of 2024, all provisions. S. 1271, FEND Off Fentanyl Act, all provisions. S. 2678, Outbound Investment Transparency Act of 2023, all provisions. S. 4136, A bill to amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations, all provisions. Issues related to Anti-Money Laundering and Combating the Financing of Terrorism; Captagon and International Narcotics Production and Trafficking; CFIUS Reform; China-Related Divestment Authorities; Chinese Involvement with Fentanyl Trafficking; DFC Capabilities and Strategy; Iran Funding Streams; Iranian Oil Sanctions Enforcement; U.S. Adversaries Diversion of Humanitarian Aid; U.S. Adversaries Sanctions Evasions Schemes; U.S. Afghanistan Sanctions Policy; U.S. Anti-Corruption Sanctions and Strategy; U.S. Burma Sanctions Policy; U.S. China Sanctions Policy; U.S. Exports Control Policy; U.S. Iran Financial Waivers Policy; U.S. North Korea Sanctions Policy; U.S. Sanctions Authorities, Implementation, Enforcement, and Policy; U.S. Syria Sanctions Policy; U.S. Tariffs on Chinese Electric Vehicles; U.S. Terrorism Sanctions Policy; U.S. Venezuela Sanctions Policy; U.S. Western Balkans Sanctions Policy; and U.S.-Mexico-Canada Agreement.

H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1807, the Improving Disclosure for Investors Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 2590, Unlocking Capital for Small Business Act; H.R. 2799, Expanding Access of Capital Act of 2023; H.R. 3063, Retirement Fairness for Charities and Education Institutions Act, Expanding the Protection for Research Reports to Cover all Securities of All Issuers; H.R. 3136 - The National Critical Capabilities Defense Act; H.R. 4237, a bill to amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors; HR 4551, the "Protecting Investors Personally Identifiable Information Act" (attached to Capital Markets Subcommittee hearing on 3/20/24); H.R. 4664 and S. 2309, the Fiscal Year 2024 Financial Services and General Government Appropriations bill related to Consolidated Audit Trail and SEC regulatory agenda; H.R. 4763 - the Financial Innovation and Technology for the 21st Century Act; H.R.4766 - Clarity for Payment Stablecoins Act of 2023. H.R. 4767 - Protecting American's Retirement Savings from Politics Act; HR 7030, the Review the Expansion of Government Act of 2024 or the REG Act of 2024 (attached to Capital Markets Subcommittee hearing on 3/20/24); HR 7902, the "Protecting Private Job Creators Act" (exempts fixed income securities from 15c2-11 disclosure) (attached to Capital Markets Subcommittee hearing on 3/20/24); H.R. 8339, the "SEC Reform and Restructure Act; H.R. 8773, FY 2025 Financial Services and General Government Appropriations Bill (3 provisions in the FSGG Bill Report pertaining to the SEC: PDA rule withdrawal, economic analysis enhancement, sensible implementation); H.R. 8818, American Privacy Rights Act; H.J. Res. 100, Providing for congressional disapproval of SEC's Cybersecurity disclosure rule; H.J. Res. 109. Providing for congressional disapproval of the rule submitted by the SEC related to "Staff Accounting Bulletin No. 121."; H.J. Res. 116, providing for congressional disapproval of DOL's independent contractor rule; S. 1695, the American Infrastructure Bonds Act of 2023; S.2678 - Outbound Investment Transparency Act of 2023; S. 4760, Digital Commodities Consumer Protection Act of 2022; S.J.Res.__, a Joint Resolution providing for congressional disapproval of the rule submitted by the SEC related to "Staff Accounting Bulletin No. 121."; H.R. ____, to exempt 144a fixed income securities from Rule 15c2-11; HR ____, to require an assessment and report to Congress on the adequacy of the SECs cost-benefit analysis with respect to major rulemakings (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to mandate minimum comment periods of at least 60 days for all SEC-initiated rulemakings, with certain exceptions, calculated from the date published in the Federal Register (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require the Commission to review certain reviewable actions by SEC staff (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require the semi-annual testimony of the Chairman of the SEC before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, with testimony on at least one instance to include the testimony of the entire Commission (attached to Capital Markets Subcommittee hearing on 3/20/24); Prudential agency (Federal Reserve, OCC and FDIC) proposal to implement the Basel Endgame reforms in the U.S. and congressional (U.S. House and Senate) oversight of the same, including revisions to the trading book capital rules, stress testing, capital surcharges and buffers; Biden Administration executive order related to China; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC Amendments to NMS Plan for the Consolidated Audit Trail-Data Security; SEC Staff Accounting Bulletin 121; SEC Security-based Swaps Large Position Reporting proposed rule; SEC proposed rule regarding the safeguarding of client assets (custody proposal); SEC proposed rule on Predictive Data Analytics; SEC proposal regarding reporting of Securities Loans; SEC proposals to modify equity market structure; SEC final rule related to clearing of U.S. Treasury securities; SEC proposed rule to address Volume-Based Exchange Transaction Pricing for NMS Stocks; SEC final rule on short sale data.

H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1807 - Improving Disclosure for Investors Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 4664 and S. 2309, the Fiscal Year 2024 Financial Services and General Government Appropriations bill related to the Consolidated Audit Trail and SEC regulatory agenda; H.R. 7780 Safeguarding Options for Retirement Act; S. 1453, the LOCAL Infrastructure Act; S. 1695, American Infrastructure Bond Act of 2023; S.2678 - Outbound Investment Transparency Act of 2023; H.R. ____, to exempt 144a fixed income securities from Rule 15c2-11; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC proposals to modify equity market structure; SEC proposal regarding reporting of securities loans; SEC proposal regarding position reporting of Large Security-Based Swap Positions; SEC proposal regarding safeguarding Advisory Client Assets; SEC No-Action Letter on Rule 15c2-11; Sustainable Finance - Legislative proposals related to Environmental, Social, and Governance considerations in investment decisions; Artificial intelligence and predictive data analytics; Legislation related to buying OTC securities on Margin.

Client expense: $1,450,000 · Firm income: Not reported

Export control reform initiatives, cybersecurity, industrial base policy, National Semiconductor Technology Center, DARPA Microelectronics Commons, Trusted and Assured Microelectronics Program, sect. DOD appropriations, DARPA ERI Program. Issues related to U.S national security and semiconductor supply chain resiliency in relation to Taiwan. Semiconductor policy issues related to the FY 25 National Defense Authorization Act (H.R. 8070) (export control, outbound investment, NEPA, and other semiconductor related matters). The Building Chips in America Act of 2023 (S. 2228, H.R. 4549). Implementation of the CHIPS and Science Act of 2022 (PL 117-167). The Chip Equipment, Quality, Usefulness, and Integrity Protection (Chip EQUIP) Act (S. 4585, H.R. 8826). Outbound Investment Transparency Act of 2023 (S.2678). Chinese Military and Surveillance Company Sanctions Act of 2023 (H.R.760). Maintaining American Superiority by Improving Export Control Transparency Act (H.R. 6614). Various measures under consideration by the House Foreign Affairs Committee (H.R. 6602, H.R. 7151, H.R. 8152, H.R. 8315, H.R. 8924, and the Preventing Regional Catastrophes in 2027 Act); policy matters related to the Export Administration Regulations (EAR) controls on advanced computing integrated circuits (ICs), computer commodities that contain such ICs, and certain semiconductor manufacturing items; policy matters related to the illicit diversion of semiconductors to Russia. Chip EQUIP Act (S. 4585). Legislation related to semiconductor hardware security.

Client expense: $408,000 · Firm income: Not reported

Issues related to international trade rules, U.S.-China relations, and export controls including H.R. 8315 Enhancing National Frameworks for Oversears Restriction of Critical Exports Act (all provisions), H.R. 8152 Remote Access Security Act (all provisions); implementation of P.L. 115-232 Export Control Reform Act (integrated circuits (ICs) specific provisions), amendments to Export Administration Regulations (EAR), and outbound investment, including S.2678 Outbound Investment Transparency Act of 2023 (semiconductor provisions), implementation of the Executive Order on Addressing U.S. Investments in Certain National Security Technologies and Products in Countries of Concern.

Client expense: $330,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Natl Security Council (NSC), SENATE, State, Dept of (DOS), Treasury, Dept of

Issues related to international trade rules, U.S.-China relations, export controls - including amendments to Export Administration Regulations (EAR), and outbound investment, including S.2678 Outbound Investment Transparency Act of 2023 (all provisions)

Client expense: $230,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Intl Trade Administration (ITA), Natl Security Council (NSC), SENATE, Treasury, Dept of

H.R. 3033, Solidify Iran Sanctions Act of 2023, all provisions. H.R. 3203, Stop Chinese Fentanyl Act of 2023, all provisions. H.R. 3882, Leveling the Playing Field 2.0 Act, all provisions. H.R. 6370, OFAC Licensure for Investigators Act, all provisions. H.R. 6505, Fentanyl Reduction Engrained by Economic Deterrence (FREED) Act, all provisions. H.R. 6769, Trusted Foreign Auditing Act of 2023, all provisions. H.R. 803, PROTECT Taiwan Act, all provisions. S. 1271, FEND Off Fentanyl Act, all provisions. S. 1390, Solidify Iran Sanctions Act of 2023, all provisions. S. 152, American Financial Markets Integrity and Security Act, all provisions. S. 2678, Outbound Investment Transparency Act of 2023, all provisions. S. 3494, Trusted Foreign Auditing Act of 2023, all provisions. S.3831, Protecting American Autoworkers from China Act of 2024, all provisions. Issues related to Anti-Money Laundering and Combating the Financing of Terrorism; Captagon and International Narcotics Trafficking; China-Related Divestment Authorities; Chinese Involvement with Fentanyl Trafficking; Expanding Trade Transparency Units; Hamas Funding Streams; IMF Funding for Iran; International Narcotics Production and Trafficking; Iran Funding Streams; Iranian Oil Sanctions Enforcement; U.S. Adversaries Sanctions Evasions Schemes; U.S. Exports Control Policy; U.S. Iran Financial Waivers Policy; U.S. Narcotics Sanctions Policy; U.S. Sanctions Authorities, Implementation, Enforcement, and Policy; U.S. Tariffs on Chinese Electric Vehicles; U.S. Terrorism Sanctions Policy; and U.S.-Mexico-Canada Agreement (no bill).

Client expense: $160,000 · Firm income: Not reported

SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; H.R. 1837, the Investing in Our Communities Act; S. 1453, the LOCAL Infrastructure Act; H.R. 4664 and S. 2309, the Fiscal Year 2024 Financial Services and General Government Appropriations bill related to the Consolidated Audit Trail and SEC regulatory agenda; H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1807 - Improving Disclosure for Investors Act of 2023; S. 1695, American Infrastructure Bond Act of 2023; H.R. 3136 - The National Critical Capabilities Defense Act; S.2678 - Outbound Investment Transparency Act of 2023; S. 2251 Cybersecurity Act of 2023; H.R. 7092, S. 3676, Protecting Private Job Creators Act; H.R. ____, to exempt 144a fixed income securities from Rule 15c2-11; SEC proposals to modify equity market structure; SEC proposal regarding reporting of securities loans; SEC proposal regarding position reporting of Large Security-Based Swap Positions; SEC proposal regarding safeguarding Advisory Client Assets; SEC proposal regarding prohibition of conflicts of interest in certain securitizations; Sustainable Finance - Legislative proposals related to Environmental, Social, and Governance considerations in investment decisions; Artificial intelligence and predictive data analytics; Legislation related to buying OTC securities on Margin.

Client expense: $1,630,000 · Firm income: Not reported

Prudential agency (Federal Reserve, OCC and FDIC) proposal to implement the Basel Endgame reforms in the U.S. and congressional (U.S. House and Senate) oversight of the same, including revisions to the trading book capital rules, stress testing, capital surcharges and buffers; SEC Prohibition Against Conflicts of Interest in Certain Securitizations proposed rule; H.R. 4168, a bill to amend the Securities Act of 1933 to require that information required to be disclosed to the Securities and Exchange Commission by issuers be material to voting or investment decisions regarding those issuers, and for other purposes; H.R. 4237, a bill to amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors; H.R. 1807, the Improving Disclosure for Investors Act of 2023; SEC proposed rule regarding the safeguarding of client assets (custody proposal); S. 2190, the RECOUP Act, a bill to amend the Federal Deposit Insurance Act to increase bank executive accountability and to improve financial stability; H.R. ____, to exempt 144a fixed income securities from Rule 15c2-11; S. 1695, the American Infrastructure Bonds Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 4664 and S. 2309, the Fiscal Year 2024 Financial Services and General Government Appropriations bill related to Consolidated Audit Trail and SEC regulatory agenda; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC Amendments to NMS Plan for the Consolidated Audit Trail-Data Security; SEC Staff Accounting Bulletin 121; SEC Security-based Swaps Large Position Reporting proposed rule; H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1177/S. 427, Financial Freedom Act of 2023; H.R. 4763 - the Financial Innovation and Technology for the 21st Century Act; H.R. 4767 - Protecting American's Retirement Savings from Politics Act; H.R. 3136 - The National Critical Capabilities Defense Act; S.2678 - Outbound Investment Transparency Act of 2023; S. 2251 - Cybersecurity Act of 2023 ; SEC proposed rule on Predictive Data Analytics; SEC proposal regarding reporting of Securities Loans; SEC proposals to modify equity market structure; Biden Administration executive order related to China; SEC final rule related to clearing of U.S. Treasury securities; SEC final rule to improve clearing agency governance; SEC proposed rule to address Volume-Based Exchange Transaction Pricing for NMS Stocks; SEC final rule on short sale data; SEC final rules on beneficial ownership; HR ____, the SEC Regulatory Accountability Act (H.R. 9603 in 117th Congress) (attached to Capital Markets Subcommittee hearing on 3/20/24); HR 7030, the Review the Expansion of Government Act of 2024 or the REG Act of 2024 (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require an assessment and report to Congress on the adequacy of the SECs cost-benefit analysis with respect to major rulemakings (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to mandate minimum comment periods of at least 60 days for all SEC-initiated rulemakings, with certain exceptions, calculated from the date published in the Federal Register (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require the Commission to review certain reviewable actions by SEC staff (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require the semi-annual testimony of the Chairman of the SEC before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, with testimony on at least one instance to include the testimony of the entire Commission (attached to Capital Markets Subcommittee hearing on 3/20/24); HR 4551, the "Protecting Investors Personally Identifiable Information Act" (attached to Capital Markets Subcommittee hearing on 3/20/24); HR 7902, the "Protecting Private Job Creators Act" (exempts fixed income securities from 15c2-11 disclosure) (attached to Capital Markets Subcommittee hearing on 3/20/24); S. 3676 (Protecting Private Job Creators Act); H.R. 2799, Expanding Access of Capital Act of 2023; H.R. 2627, Increasing Investor Opportunities Act; H.R. 3063, Retirement Fairness for Charities and Education Institutions Act, Expanding the Protection for Research Reports to Cover all Securities of All Issuers; H.R. 2590, Unlocking Capital for Small Business Act; H.J. Res. 109. Providing for congressional disapproval of the rule submitted by the SEC related to "Staff Accounting Bulletin No. 121."; S.J.Res.__, a Joint Resolution providing for congressional disapproval of the rule submitted by the SEC related to "Staff Accounting Bulletin No. 121.".

Export control reform initiatives, cybersecurity, industrial base policy, National Semiconductor Technology Center, DARPA Microelectronics Commons, Trusted and Assured Microelectronics Program, sect. DOD appropriations, DARPA ERI Program. Issues related to U.S trade, national security and semiconductor supply chain resiliency in relation to Taiwan. Semiconductor policy issues related to the FY 24 National Defense Authorization Act (S. 2226, H.R. 2670) (export control, outbound investment, NEPA, other). The Building Chips in America Act of 2023 (S. 2228, H.R. 4549). Implementation of the CHIPS and Science Act of 2022 (PL 117-167). Outbound Investment Transparency Act of 2023 (S.2678). Chinese Military and Surveillance Company Sanctions Act of 2023 (H.R.760).Maintaining American Superiority by Improving Export Control Transparency Act (H.R. 6614); increasing transparency in customs anticounterfeiting and intellectual property protection efforts (S.Amdt.484 to S. 2226, National Defense Authorization Act for Fiscal Year 2024).Export Control Enforcement and Enhancement Act (H.R. 7151); legislation to amend the Export Control Reform Act of 2018 relating to the review of the interagency dispute resolution process (H.R. 6602);policy matters related to the Export Administration Regulations (EAR) controls on advanced computing integrated circuits (ICs), computer commodities that contain such ICs, and certain semiconductor manufacturing items; policy matters related to the illicit diversion of semiconductors to Russia.

Client expense: $534,000 · Firm income: Not reported

H.R. 3016, IGO Anti-Boycott Act, all provisions. H.R. 4681, Illicit Captagon Trafficking Suppression Act of 2023, all provisions. H.R. 4696, Foreign Extortion Prevention Act, all provisions. H.R. 5613, Sanctions Lists Harmonization Act, all provisions. H.R. 5945, Freezing HAMAS Act, all provisions. H.R. 6045, Iran Sanctions Accountability Act of 2023, all provisions. H.R. 6245, Holding Iranian Leaders Accountable Act of 2023, all provisions. H.R. 6322, End Financing for Hamas and State Sponsors of Terrorism Act, all provisions. H.R. 6365, Stopping Illicit Oil Shipments Act of 2023, all provisions. H.R. 6491, Asset Seizure for Ukraine Reconstruction Act, all provisions. H.R. 6505, Fentanyl Reduction Engrained by Economic Deterrence (FREED) Act, all provisions. S. 1271, FEND Off Fentanyl Act, all provisions. S. 2347, Foreign Extortion Prevention Act, all provisions. S. 2669, Digital Asset Anti-Money Laundering Act of 2023, all provisions. S. 2678, Outbound Investment Transparency Act of 2023, all provisions. S. 3286, Disclosing Investments in Foreign Adversaries Act of 2023, all provisions. S. 3359, Asset Seizure for Ukraine Reconstruction Act, all provisions. Issues related to Anti-Money Laundering and Combating the Financing of Terrorism, Bank Secrecy Act and Anti-Money Laundering Compliance, Captagon and International Narcotics Trafficking, China-Related Divestment Authorities, Chinese Involvement with Fentanyl Trafficking, FinCENs Special Measures Authorities, Illicit Activity in Digital Assets, IMF Funding for Iran, Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing, Iran Financing Streams, Iranian Elites Embezzlement and Corruption, Iranian Oil Sanctions Enforcement, PATRIOT Act Amendments, Restricted-Use Iranian Assets in External Accounts, U.S. Adversaries Sanctions Evasions Schemes, U.S. Exports Control Policy, U.S. Iran Financial Waivers Policy, U.S. Narcotics Sanctions Policy, and U.S. Sanctions Authorities, Implementation, Enforcement, and Policy (no bill).

H.R. 3016, IGO Anti-Boycott Act, all provisions. H.R. 4681, Illicit Captagon Trafficking Suppression Act of 2023, all provisions. H.R. 4696, Foreign Extortion Prevention Act, all provisions. H.R. 5613, Sanctions Lists Harmonization Act, all provisions. H.R. 5945, Freezing HAMAS Act, all provisions. H.R. 6045, Iran Sanctions Accountability Act of 2023, all provisions. H.R. 6245, Holding Iranian Leaders Accountable Act of 2023, all provisions. H.R. 6322, End Financing for Hamas and State Sponsors of Terrorism Act, all provisions. H.R. 6365, Stopping Illicit Oil Shipments Act of 2023, all provisions. H.R. 6491, Asset Seizure for Ukraine Reconstruction Act, all provisions. H.R. 6505, Fentanyl Reduction Engrained by Economic Deterrence (FREED) Act, all provisions. S. 1271, FEND Off Fentanyl Act, all provisions. S. 2347, Foreign Extortion Prevention Act, all provisions. S. 2669, Digital Asset Anti-Money Laundering Act of 2023, all provisions. S. 2678, Outbound Investment Transparency Act of 2023, all provisions. S. 3286, Disclosing Investments in Foreign Adversaries Act of 2023, all provisions. S. 3359, Asset Seizure for Ukraine Reconstruction Act, all provisions. Issues related to Anti-Money Laundering and Combating the Financing of Terrorism, Bank Secrecy Act and Anti-Money Laundering Compliance, Captagon and International Narcotics Trafficking, China-Related Divestment Authorities, Chinese Involvement with Fentanyl Trafficking, FinCENs Special Measures Authorities, Illicit Activity in Digital Assets, IMF Funding for Iran, Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing, Iran Financing Streams, Iranian Elites Embezzlement and Corruption, Iranian Oil Sanctions Enforcement, PATRIOT Act Amendments, Restricted-Use Iranian Assets in External Accounts, U.S. Adversaries Sanctions Evasions Schemes, U.S. Exports Control Policy, U.S. Iran Financial Waivers Policy, U.S. Narcotics Sanctions Policy, and U.S. Sanctions Authorities, Implementation, Enforcement, and Policy (no bill).

S.2678, Outbound Investment Transparency Act of 2023 Issues related to trade (domestic and foreign)

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Prudential agency (Federal Reserve, OCC and FDIC) proposal to implement the Basel Endgame reforms in the U.S. and congressional (U.S. House and Senate) oversight of the same, including revisions to the trading book capital rules, stress testing, capital surcharges and buffers; SEC Prohibition Against Conflicts of Interest in Certain Securitizations proposed rule; H.R. 4168, a bill to amend the Securities Act of 1933 to require that information required to be disclosed to the Securities and Exchange Commission by issuers be material to voting or investment decisions regarding those issuers, and for other purposes; H.R. 4237, a bill to amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors; H.R. 1807, the Improving Disclosure for Investors Act of 2023; SEC proposed rule regarding the safeguarding of client assets (custody proposal); S. 2190, the RECOUP Act, a bill to amend the Federal Deposit Insurance Act to increase bank executive accountability and to improve financial stability; SEC no-action letter regarding compliance with the provisions relating to research in the Markets in Financial Instruments Directive II (MiFID II), including H.R. 2622 and S. 2141, to codify certain SEC no action letters that allow broker-dealers to continue accepting cash or "hard dollar" payments for research reports, in order to comply with international regulations such as MiFID and MiFID II; H.R. ____, to exempt 144a fixed income securities from Rule 15c2-11; S. 1695, the American Infrastructure Bonds Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 4664 and S. 2309, the Fiscal Year 2024 Financial Services and General Government Appropriations bill related to Consolidated Audit Trail and SEC regulatory agenda; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC Amendments to NMS Plan for the Consolidated Audit Trail-Data Security; SEC Staff Accounting Bulletin 121; SEC Security-based Swaps Large Position Reporting proposed rule; SEC Securities Loans proposed rule. H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1177/S. 427, Financial Freedom Act of 2023 H.R. 4763 - the Financial Innovation and Technology for the 21st Century Act H.R. 4767 - Protecting American's Retirement Savings from Politics Act H.R. 3136 - The National Critical Capabilities Defense Act; S.2678 - Outbound Investment Transparency Act of 2023 S. 2251 - Cybersecurity Act of 2023 SEC Proposed Rule on Predictive Data Analytics SEC proposal regarding Reporting of Securities Loans SEC proposals to modify equity market structure Biden Administration Executive Order related to China SEC final rule related to clearing of U.S. Treasury securities SEC final rule to improve Clearing Agency Governance SEC proposed rule to address Volume-Based Exchange Transaction Pricing for NMS Stocks SEC final rule on short sale data SEC final rule to increase transparency in Securities Lending Markets SEC final rules on beneficial ownership

Export control reform initiatives, cybersecurity, industrial base policy, National Semiconductor Technology Center, DARPA Microelectronics Commons, Trusted and Assured Microelectronics Program, sect. DOD appropriations, DARPA ERI Program. Issues related to U.S trade, national security and semiconductor supply chain resiliency in relation to Taiwan. Semiconductor policy issues related to the FY 24 National Defense Authorization Act (S. 2226, H.R. 2670) (export control, outbound investment, NEPA, other). The Building Chips in America Act of 2023 (S. 2228, H.R. 4549). Implementation of the CHIPS and Science Act of 2022 (PL 117-167). Outbound Investment Transparency Act of 2023 (S.2678). Chinese Military and Surveillance Company Sanctions Act of 2023 (H.R.760).Maintaining American Superiority by Improving Export Control Transparency Act (H.R. 6614); increasing transparency in customs anticounterfeiting and intellectual property protection efforts (S.Amdt.484 to S. 2226, National Defense Authorization Act for Fiscal Year 2024).

Client expense: $391,000 · Firm income: Not reported

Issues related to U.S.-China relations, export controls, and outbound investment, including S.2678 Outbound Investment Transparency Act of 2023.

Client expense: $80,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Intl Trade Administration (ITA), Natl Security Council (NSC), SENATE, Treasury, Dept of

Export control reform initiatives, cybersecurity, industrial base policy, National Semiconductor Technology Center, DARPA Microelectronics Commons, Trusted and Assured Microelectronics Program, sect. DOD appropriations, DARPA ERI Program. Issues related to U.S trade, national security and semiconductor supply chain resiliency in relation to Taiwan. Semiconductor policy issues related to the FY 24 National Defense Authorization Act (S. 2226, H.R. 2670) (export control, outbound investment, NEPA, other). The Building Chips in America Act of 2023 (S. 2228, H.R. 4549). Implementation of the CHIPS and Science Act of 2022 (PL 117-167). Outbound Investment Transparency Act of 2023 (S.2678). Chinese Military and Surveillance Company Sanctions Act of 2023 (H.R.760).

Client expense: $360,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Defense, Dept of (DOD), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Natl Security Council (NSC), SENATE, State, Dept of (DOS), White House Office

S.2678, Outbound Investment Transparency Act of 2023 Issues related to trade (domestic and foreign)

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H. J. Res. 68, Relating to a national emergency declared by the President on October 27, 2006, all provisions. H. J. Res. 70, Relating to a national emergency declared by the President on February 25, 2011, all provisions. H. J. Res. 71, Relating to a national emergency declared by the President on May 22, 2003, all provisions. H. J. Res. 74, Relating to a national emergency declared by the President on May 16, 2012, all provisions. H. J. Res. 79, Relating to a national emergency declared by the President on May 11, 2004, all provisions. H.R. 4681, Illicit Captagon Trafficking Suppression Act of 2023, all provisions. H.R. 4696, Foreign Extortion Prevention Act, all provisions. S. 1271, FEND Off Fentanyl Act, all provisions. S. 2347, Foreign Extortion Prevention Act, all provisions. S. 2669, Digital Asset Anti-Money Laundering Act of 2023, all provisions. S. 2678, Outbound Investment Transparency Act of 2023, all provisions. Issues related to Anti-Israel Boycotts, Anti-Money Laundering in the Eastern Mediterranean, Captagon and International Narcotics Trafficking, Chinese Involvement with Fentanyl Trafficking, Countering Russian Malign Finance, Developing CFIUS Process for Ukraine, European Cocaine, Fentanyl, and Captagon Smuggling, FinCEN's Beneficial Ownership Rulemaking, Foreign Investment Screening, Frozen Iranian Assets, Illicit Financial and Narcotic Activities in Africa, IMF Funding for Iran, Implementation of the Corporate Transparency Act, Iranian Oil Sanctions Enforcement, U.S. Adversaries Sanctions Evasions Schemes, U.S. Exports Control Policy, U.S. Narcotics Sanctions Policy, and U.S. Sanctions Policy, Implementation, and Enforcement (no bill).

Client expense: $90,000 · Firm income: Not reported

Prudential agency (Federal Reserve, OCC and FDIC) proposal to implement the Basel Endgame reforms in the U.S. and congressional (U.S. House and Senate) oversight of the same, including revisions to the trading book capital rules, stress testing, capital surcharges and buffers; SEC Prohibition Against Conflicts of Interest in Certain Securitizations proposed rule; H.R. 4168, a bill to amend the Securities Act of 1933 to require that information required to be disclosed to the Securities and Exchange Commission by issuers be material to voting or investment decisions regarding those issuers, and for other purposes; H.R. 4237, a bill to amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors; H.R. 1807, the Improving Disclosure for Investors Act of 2023; SEC proposed rule regarding the safeguarding of client assets (custody proposal); S. 2190, the RECOUP Act, a bill to amend the Federal Deposit Insurance Act to increase bank executive accountability and to improve financial stability; SEC no-action letter regarding compliance with the provisions relating to research in the Markets in Financial Instruments Directive II (MiFID II), including H.R. 2622 and S. 2141, to codify certain SEC no action letters that allow broker-dealers to continue accepting cash or "hard dollar" payments for research reports, in order to comply with international regulations such as MiFID and MiFID II; H.R. ____, to exempt 144a fixed income securities from Rule 15c2-11; S. 1695, the American Infrastructure Bonds Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 4664 and S. 2309, the Fiscal Year 2024 Financial Services and General Government Appropriations bill related to Consolidated Audit Trail and SEC regulatory agenda; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC Amendments to NMS Plan for the Consolidated Audit Trail-Data Security; SEC Staff Accounting Bulletin 121; SEC Security-based Swaps Large Position Reporting proposed rule; SEC Securities Loans proposed rule. H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1177/S. 427, Financial Freedom Act of 2023 H.R.4552 - Federal Information Security Modernization Act of 2023 H.R. 4763 - the Financial Innovation and Technology for the 21st Century Act H.R. 4767 - Protecting American's Retirement Savings from Politics Act H.R. 3136 - The National Critical Capabilities Defense Act; S.2678 - Outbound Investment Transparency Act of 2023 S. 2251 - Cybersecurity Act of 2023 SEC Proposed Rule on Predictive Data Analytics SEC proposal regarding Reporting of Securities Loans SEC proposals to modify equity market structure Biden Administration Executive Order related to China