SEC Considers "Pay to Play" Practices Tomorrow

SEC's Open Meeting Agenda for June 30, 2010
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Item 1: Political Contributions by Certain Investment Advisers
Office:  Division of Investment Management

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.