CCLS Blog Spotlight

compliance

SEC Fined 10 Firms for Violating Pay-to-Play Rule

In June 2010, the SEC adopted the Rule 206(4)-5 of the Investment Advisers Act of 1940, which addressed “pay-to-play” practices surrounding political contributions.  Pay to play is a term used in the financial industry that generally refers to investment advisers making campaign contributions to government officials with the intent to influence the award of contracts. …

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