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SEC Adopts Prohibitions Against Investment Adviser Pay-To-Play Practices

August 5, 2010

Authors: Donna L. Brooks

The Securities and Exchange Commission (SEC) has adopted final rules under the Investment Advisers Act of 1940 to curb perceived abuses in the management of public pension funds and other government pools of money by essentially restricting political contributions made by investment advisers to certain political officials and prohibiting the use of unregulated third parties, such as solicitors and placement agents, to gain access to decision makers in the public money management arena, so called "pay-to-play" practices. To view a complete summary of the final rule, as well as an analysis of its implications, please click here.

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