PACIFIC LIFE INSURANCE COMPANY for PACIFIC LIFE INSURANCE COMPANY

Financial Institutions/Investments/Securities FIN

Implementation of S. 2270 - Insurance Capital Standards Clarification Act of 2014. The bill would give the Federal Reserve the authority to tailor capital standards for insurance companies subject to Fed supervision. Issue: Capital Standards, Basel III. Export Import Bank: additionality policies and procedures. Discussion Draft: International Insurance Standards Act. H.R. 1596/S. 627 - The Secure and Fair Enforcement or SAFE Banking Act of 2019. S. 2201 - The Clarifying Law Around Insurance of Marijuana (CLAIM) Act. H.R. 1832 - Insurance Fairness for First Responders Act of 2019. S. 3533 Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2020 Section 4013 and 4014 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) - Jones/McSally amendment advocating for the inclusion of financial institutions in both provisions Potential legislation on banning short selling H.R. 1862/S. 1586 - Federal Insurance Office Abolishment Act of 2019. Issue: FIO reform. Discussions related to the following bills from the previous Congress: H.R. 10 - Financial CHOICE Act. Issue: Implementation and regulatory reform of the financial services industry. Covered agreement on prudential measures with respect to the business of insurance and reinsurance. No bill number assigned. Public Law 111-203, H.R. 4173- Dodd-Frank Wall Street Reform and Consumer Protection Act. Issue: Implementation and Regulatory reform. Captive Reinsurance Transactions, Insurance Capital Standards and Global Capital Standards. Draft legislation that would require notice of data security breaches. Issue: Cybersecurity and Privacy. Potential ESG Legislation.

Contacted: HOUSE OF REPRESENTATIVES; Consumer Financial Protection Bureau (CFPB); Federal Housing Finance Agency (FHFA); Federal Reserve System; Treasury, Dept of; SENATE; Securities & Exchange Commission (SEC)

Bills named: S. 2270 (116th), H.R. 1862 (116th), H.R. 1832 (116th), S. 3533 (116th), S. 2201 (116th), S. 627 (116th), H.R. 10 (116th), H.R. 4173 (116th), H.R. 1596 (116th), S. 1586 (116th)

Taxation/Internal Revenue Code TAX

HR 1 Tax Cuts and Jobs Act. ISSUE: Taxation of life insurers. Discussions related to Tax 2.0 Package. H.R. 6201,Families First Coronavirus Response Act - tax credits for employers regarding coronavirus paid time off. Life Insurance Product and Tax Stabilization Proposals (no bill introduced yet.) COVID-19 Response Tax Proposals re 7702 and Ordinary Treatment of Bonds (no bill introduced). Extending corporate tax payment deadline.

Contacted: Consumer Financial Protection Bureau (CFPB); Federal Housing Finance Agency (FHFA); Treasury, Dept of; Securities & Exchange Commission (SEC); Federal Reserve System; SENATE; HOUSE OF REPRESENTATIVES

Bills named: H.R. 1 (116th), H.R. 6201 (116th)

Retirement RET

H.R. 1994 - Setting Every Community up for Retirement Enhancement Act Issue: Retirement Security. H.R. 1439 - The Increasing Access to a Secure Retirement Act Issue: measures to bolster Americans retirement security and annuity selection safe harbor. HR 5282/S 2526 - Retirement Enhancement Savings Act. H.R. 2055/ S. 868 - Lifetime Income Disclosure Act. Issue: lifetime income illustration Department of Labor Fiduciary Rule, SEC Best Interest Standard. S. 1431 - Retirement Security and Savings Act. H.R. 1865 Further Consolidated Appropriations Act. Coronavirus Aid, Relief, and Economic Security Act (CARES) Act Provisions on retirement including: Temporary Waiver of RMD, increase in loan amount from Employer Sponsored Plans, IRS Penalty tax free distribution from eligible retirement plans Discussions related to the following bills from the previous Congress: H.R. 3857 - Protecting Advice for Small Savers Act of 2017 addressing the DOL Fiduciary rule and establishing a best interest standard for financial advisors. H.R. 4524 - The Retirement Simplification and Enhancement Act of 2017 Issue: Lifetime income provisions. H.R. 4523 - The Automatic Retirement Plan Act Issue: Retirement Security. H.R. 3910 - Amends the Internal Revenue Code of 1986 to make lifetime income and managed account options of defined contribution retirement savings plans portable.

Contacted: Federal Reserve System; Securities & Exchange Commission (SEC); Federal Housing Finance Agency (FHFA); HOUSE OF REPRESENTATIVES; SENATE; Consumer Financial Protection Bureau (CFPB); Treasury, Dept of

Bills named: S. 868 (116th), H.R. 1439 (116th), S. 1431 (116th), H.R. 1994 (116th), H.R. 3857 (116th), H.R. 4524 (116th), H.R. 1865 (116th), H.R. 2055 (116th), H.R. 4523 (116th), H.R. 5282 (116th), H.R. 3910 (116th)

Housing HOU

CFPB ANPR on HMDA treatment of business or commercial purpose loans made to a non-natural person and secured by a multifamily dwelling. CFPB NPRM on Increasing Transaction Thresholds. TALF eligibility of commercial mortgage backed securities

Contacted: Consumer Financial Protection Bureau (CFPB); Securities & Exchange Commission (SEC); Federal Reserve System; Federal Housing Finance Agency (FHFA); Treasury, Dept of; HOUSE OF REPRESENTATIVES; SENATE

Budget/Appropriations BUD

H.R.___ / S. ____- Financial Services and General Government Appropriations Act. Making appropriations for financial services and general government for the fiscal year ending September 30, 2019, and for other purposes. Issue: Global insurance standards; SIFI de-risking. H.R. 1865 Further Consolidated Appropriations Act.

Contacted: HOUSE OF REPRESENTATIVES; Consumer Financial Protection Bureau (CFPB); Treasury, Dept of; Securities & Exchange Commission (SEC); Federal Reserve System; Federal Housing Finance Agency (FHFA); SENATE

Bills named: H.R. 1865 (116th)

Consumer Issues/Safety/Products CSP

Discussions related to H.R. 6743 Consumer Information Notification Requirement Act. Issue: Cybersecurity. Draft legislation that would require notice of data security breaches. Issue: Cybersecurity and Privacy. Consumer Data Privacy and Security Act of 2020

Contacted: Consumer Financial Protection Bureau (CFPB); Federal Reserve System; HOUSE OF REPRESENTATIVES; Treasury, Dept of; SENATE; Federal Housing Finance Agency (FHFA); Securities & Exchange Commission (SEC)

Bills named: H.R. 6743 (116th)

Insurance INS

Discussions related to the following bills introduced from the previous Congress: S.488 - The JOBS and Investor Confidence Act of 2018 Issue: Insurance provisions in Jobs 3.0 package. S 1360/HR 4537/ H.R. 3762 - International Insurance Standards. HR 3861 FIO Reform; H.R. 4483 - Federal Insurance Office Abolishment Act of 2017. Issue: FIO reform. HR 3746/S 2702 - Business of Insurance Regulatory Reform. S. 2155 - Economic Growth, Regulatory Relief, and Consumer Protection Act, including provisions relating to international insurance standards, systemic designations, and senior investor protection. S. 2180 - Amendment to S. 2155 (Murray/Collins). H.R. 5059 State Insurance Regulation Preservation Act addressing Federal Reserve Board supervision of insurance companies. H.R. 5666/S. 3177 - Primary Regulators of Insurance Vote Act of 2018. S.__ Draft legislation regarding Federal Reserve Board supervision of insurance companies. Public Law 111-203, H.R. 4173 - Dodd-Frank Wall Street Reform and Consumer Protection Act. Issue: Implementation and Regulatory reform. Captive Reinsurance Transactions, Insurance Capital Standards and Global Capital Standards.

Contacted: Federal Housing Finance Agency (FHFA); Securities & Exchange Commission (SEC); HOUSE OF REPRESENTATIVES; Federal Reserve System; Consumer Financial Protection Bureau (CFPB); Treasury, Dept of; SENATE

Bills named: H.R. 5059 (116th), H.R. 4483 (116th), H.R. 4537 (116th), S. 488 (116th), H.R. 3746 (116th), S. 2180 (116th), H.R. 4173 (116th), H.R. 3762 (116th), S. 2155 (116th), S. 3177 (116th), H.R. 3861 (116th), H.R. 5666 (116th)