On January 15 the IPA Policy & Government Affairs Committee, along with IPA Board of Directors, had our annual strategic planning session to discuss and set legislative and regulatory priorities and advocacy strategies for 2019. This year marks an unprecedented opportunity to engage new policy makers on Capitol Hill following the Congressional mid-term elections on November 6, 2018.
The IPA and its members have a unique opportunity to introduce themselves – and portfolio diversifying investment products – to over 100 new members of the 116th Congress, including 10 newly elected senators and 101 newly elected representatives. With a Democratic majority in the House of Representatives, we also have new committee chairs, including financial services chairwoman Maxine Waters (D-CA)—notably, the second most active legislator in the 115th Congress—and ways and means chairman Richard Neal (D-MA).
The IPA will be prioritizing its education outreach and research initiatives with this new Congress and our regulators and will continue to prioritize our ongoing legislative issues such as expansion of the accredited investor definition and support for a healthy and safe private investment market.
On the regulatory front, the IPA will be actively engaged in the ongoing push toward a fiduciary standard – both federal and state. And, with potential gridlock on the federal level in a divided Congress, the IPA will be focusing heightened attention at the state level to address its e-signature initiative, new issues facing registered investment advisers selling PDI products, and other concerns of our members.
We also have some exciting new issues on the horizon in 2019, such as including real assets in retirement accounts and supporting the emergence of Qualified Opportunity Zones. And importantly, we look to build on the tremendous momentum we established in 2018 with the formation of our first Political Action Committee.
We have a busy year ahead and look forward to seeing many of you at the IPASummit and Capitol Hill Day on May 7-8. With 45% of this Congress having less than three terms of experience, our members participation this year is more important than ever!
Senior Vice President
Government Affairs and General Counsel