There is an exception in the rule concerning newspapers and periodicals of general circulation. It says that any one of the following entities would not be considered an executive branch lobbyist:
(D) Any newspaper or other periodical of general circulation, book publisher, news wire service, or radio or television station (including any individual who owns, publishes, or is employed by any such newspaper or periodical or radio or television station) that in the ordinary course of business publishes news items, editorials, or other comments or paid advertisement that directly or indirectly urge executive branch action if such newspaper, periodical, book publisher, radio or television station, or individual engages in no additional activities in connection with executive branch actions.
If the newsletter can not be considered a "periodical of general circulation," and it urges executive branch action, registration could be required by the publisher of the newsletter. To answer the question of whether the newsletter could be considered a "periodical of general circulation" we should look at the term "general circulation." Of course the issue of whether a trade association newsletter could be considered a periodical of general circulation is going to need to be decided on a case-by-case basis; however, there may be some merit to the argument that such a newsletter might not meet the criteria for the exception to this rule.
For more information, see the Executive Branch Lobbyist Registration Rule, or call (317) 234-4431.