SEC to Consider Pay to Play Rule for Investment Advisers

At the SEC open meeting on Wednesday July 22, the Commission will consider whether to propose a rule to address “pay to play” practices by investment advisers. The proposal is designed, among other things, to prohibit advisers from seeking to influence the award of advisory contracts by public entities through political contributions to or for those officials who are in a position to influence the awards.

You can watch the meeting through the SEC Open Meetings Webcast, starting at 2:00 pm (EDT).