Investment Management

SEC Adopts "Pay to Play" Rule For Investment Advisers, Their Principals and Key Employees

By: Irwin A. Kishner, Patrick D. Sweeney, Richard M. Morris
Herrick, Feinstein LLP, New York, NY

The SEC adopted a new rule under the Investment Advisers Act of 1940 designed to curtail the practice of making contributions to politicians, either directly or indirectly, to influence the awarding of advisory contracts for public pension plan assets, otherwise referred to as "pay to play" practices. Click here to read the entire article.
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