The Investment Program Association (IPA) held its 2017 IPASummit in Washington, D.C., earlier this month.
More than 240 thought leaders from across the industry gathered to discuss the state of the industry and current hot topics. In addition, on “Hill Day” — a membership march to Capitol Hill — IPA members held over 225 individual meetings with regulators and members of Congress, spanning more than 30 states, to discuss regulations and legislation focused on BDC Modernization, Accredited Investor definition, changes to section 12(g), preserving the 1031 like-kind exchange, and the impacts to investors and our members as a result of the Department of Labor’s Fiduciary Rule.
I was part of a four-person team from Northern California that conducted five meetings on the Hill with staff from key members of the Congress and Senate, including Congresswoman Nancy Pelosi and Senator Dianne Feinstein. The most well-received topic from all offices we visited was the push for Congress to consider legislation that will open up the definition of an Accredited Investor to allow those who have demonstrated appropriate financial sophistication to become accredited and take advantage of the full spectrum of the investment universe.
Prior to departing for the Hill, the IPA brought in a series of keynote speakers to educate and inspire the delegates. Keynote speaker Mark Calabria, the chief economist for vice president Mike Pence, shared his insights on the Trump administration’s tax plans.
Brad Campbell, a partner at Drinker Biddle, discussed the effects of and industry responses to the Department of Labor’s Fiduciary Rule and provided an update of where the rule stands now.
And another key speaker, Tim Pawlenty, CEO of Financial Services Roundtable and former governor of Minnesota, addressed the current state of financial regulation.
Real Assets Adviser commends the IPA on this effort to further the needs of the industry through advocacy and outreach.
For more information on the 2017 IPASummit, click here.