Law360, New York (May 11, 2009, 12:00 AM ET) -- In the wake of an alleged kickback scheme at the New York State Common Retirement Fund, the U.S. Securities and Exchange Commission is considering a rule barring independent investment advisers from working with public pension funds once they have donated to the political campaigns of the fund managers.
A pay-to-play rule targeting investment advisers working with state pension managers could be officially submitted for public comment as soon as July, John Heine, a spokesman for the SEC, said Monday.
A favorite cause of SEC Chairwoman Mary...
SEC Targets Pay-To-Play In State Pension Funds
To view the full article, take a free trial now.
