2025 fourth_quarter Filing

Infrastructure Investment Financial Stability Issues Stewardship Investment manager passivity requirements Exchange Traded Products Rule 15c2-11 Rule 17a-7 (Fixed Income Cross Trading) Money Market Fund Reform U.S. Treasury Market Structure Proxy Voting Digital Assets Municipal Finance Equity Market Structure Central Counter Party Risk Swaps Reporting Uncleared Margin Rules SEC Safeguarding/Custody Rule Outbound Investment General briefings on compliance with applicable federal law Accredited Investor Status for IRA investments SEC Rule 3b-16, Reg ATS/Definition of Exchange SEC Treasury Clearing Rule SEC Dealer Definition Rule SEC Securities Loan Reporting Rule Private Credit Regulation FERC blanket authorization AI Basel III/GSIB Capital Rules CFTC 1.25 Proposal Closed-end funds QPAM Common ownership ETF share class Stablecoin legislation/regulation Regulation and oversight of investment advisers. Registered Fund Regulation Digital Asset Market Structure Tokenization Access to private investments Private assets in defined contribution (DC) plans SEC Fund of Fund Rules , including Acquired fund fees and expenses (AFFE) E-Delivery legislation Corporate Reporting Form PF NBFI leverage/reporting

Repeal of 852b6 Accredited Investor Status for IRA investments Taxation of digital assets Proposed Section 899 BEAT (Base Erosion Adjustment Tax) 162m Stock buybacks Endowments Tax Private Foundations Tax Clean Energy Tax One Big Beautiful Bill Act (PL 119-21) implementation

DOL fiduciary proposal 403(b) investment parity Secure 2.0 QPAM Child Savings Accounts/ Early Wealth Building/ Trump Accounts Access Issues and investment parity Emergency Savings Accounts Retirement Tax Advantage Private assets in DC plans Social Security Solvency Defined Benefit Plan Solvency Decumulation and Lifetime Income