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SEC wants to scrap pay-to-play rules for certain advisers

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Photo: Stephen Maturen/Getty Images
Julie DiMauro profile image

Julie DiMauro

2 min read

SEC wants to scrap 2010 restriction that blocks advisers who made recent political contributions from working with state and local pension plans.

The SEC has proposed to eliminate a rule that prohibits investment advisers from working with public pension funds for two years after making political donations to state and local officials.

The current rule, SEC Rule 206(4)-5, or the “Pay-to-Play Rule,” prohibits firms from offering investment services to state and

Political

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