SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION for SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION

Banking BAN

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

Contacted: Natl Economic Council (NEC); SENATE; Office of the Comptroller of the Currency (OCC); Federal Reserve System; Treasury, Dept of; HOUSE OF REPRESENTATIVES; Federal Housing Finance Agency (FHFA); Labor, Dept of (DOL); Securities & Exchange Commission (SEC)

Bills named: S. 2190 (118th), H.R. 4767 (118th), S. 2141 (118th), H.R. 2622 (118th), S. 427 (118th), H.R. 1177 (118th), H.R. 4168 (118th), H.R. 4664 (118th), H.R. 1837 (118th), H.R. 760 (118th), H.R. 3136 (118th), S. 1695 (118th), S. 2678 (118th), S. 2251 (118th), H.R. 4237 (118th), H.R. 4763 (118th), S. 2309 (118th), H.R. 1807 (118th)

Commodities (big ticket) CDT

SEC proposal related to security-based swaps large trader reporting; SEC proposal regarding Safeguarding Advisory Client Assets CFTC Rule 4.7 amendments - comment letter

Contacted: HOUSE OF REPRESENTATIVES; Federal Reserve System; SENATE; Securities & Exchange Commission (SEC); Office of the Comptroller of the Currency (OCC); Commodity Futures Trading Commission (CFTC)

Financial Institutions/Investments/Securities FIN

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 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; S. 1695, American Infrastructure Bond Act of 2023, U.S. Senate H.R. 3136 - The National Critical Capabilities Defense Act; S.2678 - Outbound Investment Transparency Act of 2023 S. 2251 Cybersecurity Act of 2023 SEC 15c2-11 staff interpretation to impact 144A private securities 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 Public Law 117-328 - Consolidated Appropriations Law (FSGG report language related to the Consolidated Audit Trail) Sustainable Finance - Legislative proposals related to Environmental, Social, and Governance considerations in investment decisions Fiscal Year 2024 Financial Services and General Government Appropriations bill Artificial intelligence and predictive data analytics

Contacted: Securities & Exchange Commission (SEC); Treasury, Dept of; HOUSE OF REPRESENTATIVES; Federal Housing Finance Agency (FHFA); Homeland Security, Dept of (DHS); Federal Reserve System; Natl Security Council (NSC); SENATE; Office of the Comptroller of the Currency (OCC); Federal Deposit Insurance Corporation (FDIC); Commodity Futures Trading Commission (CFTC); Natl Economic Council (NEC)

Bills named: S. 1695 (118th), H.R. 1837 (118th), S. 2309 (118th), S. 2251 (118th), S. 2141 (118th), S. 2678 (118th), H.R. 2622 (118th), H.R. 1807 (118th), H.R. 3136 (118th), H.R. 4664 (118th), H.R. 760 (118th), S. 1453 (118th)

Taxation/Internal Revenue Code TAX

H.R. 1837, the Investing in Our Communities Act; S. 1695, American Infrastructure Bonds Act of 2023 Public Law 117-328 - Consolidated Appropriations Law (Secure 2.0 retirement provisions). IRS Transmitter Control Codes and Electronic Filing of Form 1042 IRS Draft Revised W-8EXP IRS Tax Treatment of Digital Assets U.S. Senate Draft Form W-9 IRS Stock Buyback Excise Tax U.S. Treasury, IRS Request for Extension of Comment Period for REG-122793-19 Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions (proposed regulations) W-8 E-signature easing W-8 ECI OECD BEPS 2.0 Qualified Derivatives Payment Reporting Form W-9 requester instructions Proposed Regulations for Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions IRC Section 871(m) IRC Section 987 U.S. Taiwan Expedited Double Tax Relief Act 529 S. 1453, the LOCAL Infrastructure Act

Contacted: Securities & Exchange Commission (SEC); SENATE; HOUSE OF REPRESENTATIVES; Treasury, Dept of; Internal Revenue Service (IRS)

Bills named: H.R. 1837 (118th), S. 1695 (118th), S. 1453 (118th)

Retirement RET

SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; H.R. 5337 Retirement Proxy Protection Act H.R. 5338 No Discrimination in My Benefits Act H.R. 5339 RETIRE Act H.R. 5340 Providing Complete Information to Retirement Investors Act Amendments to H.R. 2670, the National Defense Authorization Act for Fiscal Year 2024 DOL Fiduciary Rule Qualified Professional Asset Manager PTE Changes; Public Law 117-328 - Consolidated Appropriations Law (Secure 2.0 retirement provisions) Retirement Security Rule: Definition of an Investment Advice Fiduciary (EBSA) and related exemptions. Independent Contractor Rule RIN 0985-AA18 NPRM - Adult Protective Services Functions and Grant Programs, Administration for Community Living, HHS To amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to make technical corrections relating to the SECURE 2.0 Act of 2022, and for other purposes SECURE 2.0 Implementation RIN 1210-AC23 RFI - SECURE 2.0 Reporting and Disclosure, EBSA Basel III End Game and Retirement Employee Identification Number (EIN) / Unrelated Business Taxable Income (UBTI) IRS H.R. 6640 To amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans. Amendment No. 83 to H.R. 5894 - Labor, Health and Human Services, Education, and Related Agencies Appropriations Act, 2024 H.R. 6065/ S. 3102 Retirement Savings for Americans Act H.R. 6007, Retirement Investment in Small Employers Act H.R.5673, Responsible Legislating Act Section 4966 Donor Advised Fund Regulations H.R. 6065, To establish the American Worker Retirement Plan, improve the financial security of working Americans by facilitating the accumulation of wealth, and for other purposes.

Contacted: Commodity Futures Trading Commission (CFTC); Labor, Dept of (DOL); SENATE; Treasury, Dept of; Securities & Exchange Commission (SEC); Executive Office of the President (EOP); HOUSE OF REPRESENTATIVES

Bills named: H.R. 5894 (118th), H.R. 6065 (118th), H.R. 2670 (118th), H.R. 5673 (118th), H.R. 6640 (118th), H.R. 5337 (118th), H.R. 5339 (118th), H.R. 5340 (118th), S. 3102 (118th), H.R. 5338 (118th), H.R. 6007 (118th)