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IPA Members Gathered in Miami to Establish 2022 Advocacy Agenda


We are proud to serve our members as a leading voice on critical legislative and regulatory issues affecting portfolio diversifying investments. The IPA works tirelessly to coordinate resources to help advance our industry through the regulatory and political process.

Our 2022 Public Policy Summit in Miami was a huge success, attended by more than 60 IPA members from all facets of our industry, representing asset managers, distribution partners and industry partners. We gathered to discuss the current political and economic environment, including the pandemic, rising interest rates and inflation. We discussed the evolution of our industry, current trends and opportunities for future growth and expansion. Importantly, we also addressed ongoing and anticipated regulatory and legislative threats.

With your input throughout these discussions, the IPA has identified the below to guide our efforts encompassing direct and grassroots advocacy, coalition building, effective communications and research and data gathering throughout the year. We will focus our efforts in these six areas:

  • Regulatory Overreach. Oppose federal and state regulatory overreach, including restrictive state policies on registered offerings and marketing materials, and increased reporting requirements and restrictions on exempt offerings. Support compliance with the Securities and Exchange Commission (SEC)’s “Regulation Best Interest” and oppose new federal or state fiduciary standards.
  • Tax Policy. Continue to address tax policy issues, including advocating on the value and importance of 1031 like-kind exchanges (LKE), opposing efforts to repeal or limit LKE transactions, supporting a strong and transparent marketplace for Qualified Opportunity Funds and further extending the IRS’ Qualified Opportunity Zone incentive.
  • Retirement Savings. Advocate for the inclusion of alternative investments in defined contribution accounts and oppose any efforts to limit investments in individual retirement accounts. Work with Congress, the Department of Labor (DOL), SEC, market participants and coalition partners to support broader adoption.
  • International Access. Broaden investor and stakeholder education to increase access to alternatives in international markets. Continue to support an expansion of the publicly traded exception under the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) to include publicly offered stock, as well as a full repeal of FIRPTA.
  • Stakeholder Education. Improve policymaker and stakeholder understanding of alternative investment strategies through education built on expanded research and data analysis. Broaden engagement with regulatory authorities at the SEC, FINRA, DOL, North American Securities Administrators Association (NASAA) and state agencies.
  • Current and Emerging Topics. Continue to work on current and emerging topics impacting our industry, including ESG standards, fintech, cryptocurrency, cybersecurity, private offering regulation, federal e-delivery guidance, S-11/Guide 5 revisions, E&O insurance costs and accessibility and closed-end fund/BDC developments.

In addition to the above priorities, our members also helped identify three critical committee and taskforce projects, including the following:

  • Broadening access in advisory accounts
  • Improving technology and straight through processing
  • Building enhanced best practices and standardized forms

We want to encourage our members to continue their involvement in our policy advocacy initiatives and the work of our committees and taskforces. If you have not already done so, please to join any of our six committee interest groups: Policy, Regulatory and Legal Affairs; Industry Data and Research; Technology, Innovation and Operations; Compliance & Due Diligence; Diversity and Inclusion; and Industry Products.

Each committee will soon be announcing taskforces to align with IPA priorities that you will be invited to join.

We want to thank the IPA Board and our Policy, Regulatory and Legal Affairs Committee for participating in our Public Policy Summit. Your time, effort and input are invaluable to the success of our advocacy efforts.

We encourage our members to visit the IPA’s website to stay current on other advocacy initiatives. Please don’t hesitate to reach out if you have any questions.


Anya Coverman
SVP, Government Affairs and General Counsel
Institute for Portfolio Alternatives