We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SEC Targets Pay-To-Play In State Pension Funds

Law360 (May 11, 2009, 12:00 AM EDT) -- 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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.