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; 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.".

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

Bills named: S. 427 (118th), H.R. 4168 (118th), H.R. 760 (118th), S. 2678 (118th), H.J.Res. 109 (118th), H.R. 7902 (118th), H.R. 2799 (118th), S. 2251 (118th), H.R. 2590 (118th), H.R. 1177 (118th), H.R. 4551 (118th), H.R. 3063 (118th), H.R. 4664 (118th), H.R. 1807 (118th), H.R. 3136 (118th), S. 1695 (118th), S. 2309 (118th), S. 2190 (118th), H.R. 4763 (118th), H.R. 4767 (118th), H.R. 1837 (118th), H.R. 9603 (118th), S. 3676 (118th), H.R. 7030 (118th), H.R. 4237 (118th), H.R. 2627 (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; Securities & Exchange Commission (SEC); Commodity Futures Trading Commission (CFTC); SENATE; Office of the Comptroller of the Currency (OCC)

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; 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.

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

Bills named: H.R. 4664 (118th), H.R. 1807 (118th), H.R. 3136 (118th), S. 2309 (118th), S. 3676 (118th), H.R. 7092 (118th), S. 2678 (118th), S. 1695 (118th), H.R. 760 (118th), S. 2251 (118th), H.R. 1837 (118th), S. 1453 (118th)

Taxation/Internal Revenue Code TAX

H.R. 1837, the Investing in Our Communities Act; H.R.7024 - Tax Relief for American Families and Workers Act of 2024; S. 1695, American Infrastructure Bonds Act of 2023; S. 1453, the LOCAL Infrastructure Act. Public Law 117-328 - Consolidated Appropriations Law (Secure 2.0 retirement provisions); IRS Tax Treatment of Digital Assets; 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); OECD BEPS 2.0; 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; Issues related to 529 plans; OMB Number: 1545-2313, Form 15397 (November 2023), Application for Extension of Time to Furnish Recipient Statements; Appendix III of the Qualified Intermediary (QI) Agreement, Revenue Procedure 2022-43.

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

Bills named: S. 1453 (118th), S. 1695 (118th), H.R. 7024 (118th), H.R. 1837 (118th)

Retirement RET

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; H.R.5673, Responsible Legislating Act; H.R. 6065/ S. 3102 Retirement Savings for Americans Act; H.R. 6007, Retirement Investment in Small Employers Act; H.R. 7293, Automatic IRA Act of 2024 ; H.R. 1818/S. 1561 the Aviation Workforce Development Act; S. 3716/ H.R. 7162 A bill to create children's lifetime savings accounts, and for other purposes; Amendments to H.R. 2670, the National Defense Authorization Act for Fiscal Year 2024 (FDTA exemption for state and local governments); SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; DOL Fiduciary Rule proposed rule on retirement security and related proposed changes to prohibited transaction exemptions including Qualified Professional Asset Manager; 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 discussions; 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); Amendment No. 83 to H.R. 5894 - Labor, Health and Human Services, Education, and Related Agencies Appropriations Act, 2024; IRS proposed rule regarding Section 4966 Donor Advised Funds; Appropriations Rider Funds May only be Used on DOL Fiduciary; APS Funding.

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

Bills named: H.R. 7162 (118th), H.R. 5337 (118th), H.R. 2670 (118th), H.R. 6007 (118th), H.R. 5338 (118th), S. 1561 (118th), H.R. 5673 (118th), H.R. 5340 (118th), S. 3102 (118th), H.R. 6065 (118th), H.R. 5339 (118th), H.R. 1818 (118th), H.R. 7293 (118th), S. 3716 (118th), H.R. 5894 (118th)