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European Union. Given these possibilities and others that are not anticipated, at this time, it is difficult to predict how the UK withdrawal from the European Union will be implemented and what the economic, tax, fiscal, legal, regulatory and other implications will be for the asset management industry, the bro
e purposes of the applicable Brazilian regulations and has therefore not been and will not be registered with the Brazilian Securities Commission (Comissao de Valores Mobiliarios) or any other government authority in Brazil. All information contained herein is confidential and is for the exclusive use and review of the inte
European Union. Given these possibilities and others that are not anticipated, at this time, it is difficult to predict how the UK withdrawal from the European Union will be implemented and what the economic, tax, fiscal, legal, regulatory and other implications will be for the asset management industry, the bro
e purposes of the applicable Brazilian regulations and has therefore not been and will not be registered with the Brazilian Securities Commission (Comissao de Valores Mobiliarios) or any other government authority in Brazil. All information contained herein is confidential and is for the exclusive use and review of the inte
European Union. Given these possibilities and others that are not anticipated, at this time, it is difficult to predict how the UK withdrawal from the European Union will be implemented and what the economic, tax, fiscal, legal, regulatory and other implications will be for the asset management industry, the bro
e purposes of the applicable Brazilian regulations and has therefore not been and will not be registered with the Brazilian Securities Commission (Comissao de Valores Mobiliarios) or any other government authority in Brazil. All information contained herein is confidential and is for the exclusive use and review of the inte
European Union. Given these possibilities and others that are not anticipated, at this time, it is difficult to predict how the UK withdrawal from the European Union will be implemented and what the economic, tax, fiscal, legal, regulatory and other implications will be for the asset management industry, the bro
e purposes of the applicable Brazilian regulations and has therefore not been and will not be registered with the Brazilian Securities Commission (Comissao de Valores Mobiliarios) or any other government authority in Brazil. All information contained herein is confidential and is for the exclusive use and review of the inte
European Union. Given these possibilities and others that are not anticipated, at this time, it is difficult to predict how the UK withdrawal from the European Union will be implemented and what the economic, tax, fiscal, legal, regulatory and other implications will be for the asset management industry, the bro
e purposes of the applicable Brazilian regulations and has therefore not been and will not be registered with the Brazilian Securities Commission (Comissao de Valores Mobiliarios) or any other government authority in Brazil. All information contained herein is confidential and is for the exclusive use and review of the inte
ve increased to reflect these higher risks. The government’s expansive fiscal plan, with a proposed budget deficit of 2.4% of GDP, may be rejected by the European Union commission and result in rating downgrades. While the EU is likely to manage this situation in its usual incremental and reactive way, the possibilit
Page: HOUSE_OVERSIGHT_026917 →ered for registration to the relevant regulators or financial supervisory bodies in Brazil, such as the Brazilian Securities and Exchange Commission (Comissao de Valores Mobiliarios — CVM) nor has its content been reviewed or approved by any such regulators or financial supervisory bodies. The securities, funds, or products descr
Page: HOUSE_OVERSIGHT_026922 →Entities connected to both European Union and Comissao de Valores Mobiliarios

United States
LOCATION
United Kingdom
LOCATION
Prince Charles
PERSON
Barack Obama
PERSON
Donald Trump
PERSON
Marc Rich
PERSON
Denmark
LOCATION
Finland
LOCATION
Hungary
LOCATION
Romania
LOCATION
New York State
LOCATION
Bulgaria
LOCATIONthe U.S. Investment Company Act
ORGANIZATION
Czech Republic
LOCATION
the European Council
ORGANIZATION
Puerto Rico
LOCATION
Frankfurt
LOCATION
Columbia University
LOCATION
U.S. Treasury
ORGANIZATION
Paul Ryan
PERSON