TARGETED VICTORY’S PUBLIC AFFAIRS CHIEF HEADS TO PHRMA: Alex Schriver is decamping from Targeted Victory, where he was head of public affairs, to join the public affairs team at PhRMA. “I joined this firm six and a half years ago as an initial hire in the newly formed corporate practice. I am incredibly proud of the team we’ve built, the clients we’ve serviced, and the firm we’ve become,” Schriver wrote in a post on X. — Schriver is the latest new face on the drugmakers’ public affairs team following a shakeup in PhRMA’s public affairs shop that began with the resignation of its top executive last year — shortly after the industry took a major loss with the passage of the Inflation Reduction Act’s drug pricing provisions. — Schriver comes on as PhRMA and several of its members have ramped up their fight against that program, which allows Medicare to negotiate the price of certain drugs, taking the Biden administration to court to block the initiative. Prior to joining Targeted Victory, Schriver had served as chief of staff to then-Rep. Bradley Byrne (R-Ala.). WALL STREET BLASTS SEC PRIVATE FUNDS RULE: “The SEC on Wednesday green-lighted a sweeping slate of rules for private equity firms and hedge funds, imposing some of the strictest regulations yet on a more than $25 trillion corner of finance,” POLITICO’s Declan Harty and Sam Sutton report. — “In a 3-2 vote along party lines, the agency voted to enact new requirements and restrictions on private funds advisers to safeguard investors and give pension funds, college endowments and other institutions more clout when negotiating with some of the financial industry’s most powerful firms. The final rule is more aggressive than many Wall Street firms had hoped — and less comprehensive than some progressives and investor advocates had anticipated.” — “The rule, a pillar of SEC Chair Gary Gensler’s agenda, will usher in one of the most significant regulatory revamps ever to private market investment vehicles run by opaque investment firms that control large swaths of the global economy.” — Its “completion caps a more than year-long lobbying blitz by the private equity, hedge fund and venture capital industries to quash the SEC’s plans, setting the stage for a possible courtroom fight.” — “Industry groups like the Managed Funds Association and the American Investment Council signaled before the vote that they may sue if the SEC did not roll back significant elements of the proposal,” and in a statement following the vote MFA President and CEO Bryan Corbett made clear that litigation is not off the table. TRUMP TO FUNDRAISE FOR GIULIANI DEFENSE: “Andrew Giuliani, the son of former New York City Mayor Rudy Giuliani, is turning to former President Donald Trump to raise money for a political action committee meant to help pay for his father’s growing legal fees,” CNBC’s Brian Schwartz reports. — “The Giuliani Defense PAC is having one of its first fundraising events in September at Trump’s New Jersey golf course, with the former president as a featured guest, according to the invitation, which was obtained by CNBC. Donors are being asked to give $100,000 each to the PAC to take part in the event.” — “Rudy Giuliani was indicted in Georgia along with Trump and 17 other defendants on charges of election interference,” and is out on bail after surrendering to authorities in Atlanta yesterday. The former mayor is among several of Trump’s allies involved in the case who “have seen virtually no help so far from the former president’s political operations to pay for legal fees in the cases.” — “The event on Sept. 7 will feature a roundtable discussion with Trump and Rudy Giuliani, followed by a dinner with Rudy Giuliani, according to the invitation. A person familiar with the event told CNBC that it is expected to have at least a dozen guests and raise close to $1 million. This person declined to be named in order to speak freely about private efforts to help Rudy Giuliani.” — Andrew Giuliani, a former unsuccessful candidate for governor in New York, told CNBC that in addition to the September event at Bedminster, Trump had agreed to headline a second fundraiser for Giuliani’s legal defense this winter at his Florida club Mar-a-Lago.
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