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23 the IA Committee along with the entire ILPA team will remain committed to the continued evolution of this indus- try-wide effort. Although the initial set of deliverables will be published by the end of Q1 2016 the IA Committee will carry this work forward through broad industry engage- ment over the coming months and years around reporting standards and specifically by encouraging the industrys progression towards a fully electronic reporting framework through the AltExchange coalition. Additionally the IA Committee will turn its attention to a comprehensive and overdue review of the ILPA Principles 3.0 as well as a thoughtful assessment of opportunities for improving fund terms and standardizing certain aspects of the Limited Partnership Agreement. A collaborative and broadly consultative approach will continue to be the hallmark of its efforts. Members were crucial to the more prominent ILPA voice that emerged in 2015. Publicly this voice manifested in the medias recognition of the ILPA as a standard setter for the industry. Privately officials from the European Commission ESMA the SEC and the US Congress have expressed keen interest in ILPA members views on a broad range of policy issues. The input that members have provided on topics from AIFMD implementation to the quality of industry reporting has proven influential in shaping legislative initiatives. Most importantly the ILPA voice carries through to engaging the broader membership in the development of the priorities and initiatives undertaken by the Industry Affairs Committee. The ILPAs monthly Industry Spotlight now reaches more than two-thirds of member organizations. Regular web-based regulatory updates and a new website are aimed at delivering members real-time information on emerging issues and to inform them about opportunities to participate and contribute. Looking ahead to the exciting slate of initiatives we have planned for 2016 I feel privileged to help steward ILPAs messages to key stakeholder groups and to shape our industry for the benefit of all its stakeholders. I hope youll join us on this journey and increase your involvement for the betterment of the private equity industry. THE EFFORT TO PRODUCE THE ILPA REPORTING TEMPLATE AND RELATED GUIDANCE INVOLVED MORE THAN 30 MEMBER ORGANIZATIONS INCLUDING CONSTITUENCIES THAT HISTORICALLY HAVE BEEN LESS ENGAGED WITH THE ILPA. ILPA