June 24, 2010
SEC Plans to Take up "Pay to Play" Practices of Investment Advisers at Next Meeting
The SEC has announced an Open Meeting for June 30, 2010. The subject matter of the meeting will be:
The Commission will consider whether to adopt a new rule and related rule amendments under the Investment Advisers Act of 1940 to address "pay to play" practices by investment advisers. The new rule is designed to prohibit advisers from seeking to influence the award of advisory contracts by public entities by making or soliciting political contributions to or for those officials who are in a position to influence the awards.
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