The Company's General Counsel shall have oversight over the Company's PAC's political contributions, payments to lobbyists, and payments to trade associations that use a portion of the dues for lobbying activity, and shall periodically update the Nominating and Corporate Governance Committee of MarketAxess' Board of Directors on the Company's PAC's political contribution and lobbying activities and the Company policies that govern these activities. Additionally, contributions are reported as required by law in the applicable jurisdiction where the contributions are made. [...] On an annual basis, the Nominating and Corporate Governance Committee reviews MarketAxess' lobbying activities and budget, including trade association memberships, to assess the value of these activities and ensure alignment with MarketAxess' positions and interests.