SEC seeks to rescind pay-to-play rule governing investment advisors political contributions
The Securities and Exchange Commission (SEC) is seeking to rescind its “pay-to-play” rule that prohibits investment advisers from providing compensated investment advisory services to a government client for two years after making a political contribution. The SEC has determined that the political contribution rule, since its adoption in 2010, has led to significant unintended consequences, such as prohibitions by some advisers on political contributions at the state and local level. Advi...
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