Transcript (en)

So it's getting a little clearer, the Clarity Act, as each little issue gets dealt with right now. I think the biggest issue is waiting for Democrats to read the new amendments that have been negotiated, some of them relevant to the ethics piece of it, which you heard Cynthia talk about a little bit, I think, in that interview last week. It sounds like there's some agreement that the Department of Justice would be the prevailing enforcer, which makes all the sense in the world to me. I mean, I think the Democrats would rather have state's attorneys general, things like that. I think that creates too disparate a situation to have the clarity that the industry needs. Certainly, some of the stuff as it relates to the securities intermediaries definition is challenging. The industry doesn't like that. They would rather have decentralized, be decentralized, that being the definition. All of these things are nuanced, obviously, in small details. but I think we're almost there. Maria, I don't know that we get to it this week, but remember, the Senate is in session for a couple of more weeks past this one. I know the House is done this week, but we do have a couple of more weeks, but I'm with Cynthia. We have to get this done, in my view, before.