SEC: New rule targets ‘pay to play’
The SEC last week approved a new rule aimed at curtailing so-called pay-to-play practices by limiting investment advisers' ability to influence elected officials when it comes to public pension plan asset management.
The SEC last week approved a new rule aimed at curtailing so-called pay-to-play practices by limiting investment advisers’ ability to influence elected officials when it comes to public pension plan asset management. Among other provisions, the rule prohibits an investment adviser from providing advisory services for compensation for two years after a political contribution was made to an elected official who could influence the selection of an adviser to public pension plans assets. For more details, click here.
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