MANAGED FUNDS ASSOCIATION

Financial Institutions/Investments/Securities

Legislative oversight of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Regulation and oversight of investment advisers. Capital markets regulatory reform in non-U.S. jurisdictions. Equity market structure issues including electronic and algorithmic trading. Protection for sensitive and proprietary data. Security-based swaps regulation. Environmental, social, and governance (ESG) and diversity, equity, and inclusion (DEI) policies. Activities-based rules for non-bank financial institutions. Private fund adviser proposal. Dealer definition proposal. Beneficial ownership. Investment limitations on foreign assets. Outbound investment review process. H.R. 2655, to amend the Securities Exchange Act of 1934 to prohibit certain securities trading and related communications by those who possess material, nonpublic information H.R. 4618, Short Sale Transparency and Market Fairness Act H.R. 7900, National Defense Authorization Act for Fiscal Year 2023 H.R. 8254/S. 4685, Financial Services and General Government Appropriations Act, 2023

TargetedSENATE · HOUSE OF REPRESENTATIVES · Securities & Exchange Commission (SEC)

Taxation/Internal Revenue Code

Limitations on deductions including interest expense. 864(b) of the Internal Revenue Code - safe harbor for investment in U.S. securities and other assets by non-U.S. investors. Financial Transaction Tax. Research and development expensing. H.R. 5376, the Inflation Reduction Act, including provisions relating to Carried Interest/ Enterprise Value; Taxation of financial products.