Supreme Court Won't Hear Fight Over SEC's Pay-To-Play Rule

Law360 (January 13, 2020, 3:00 PM EST) -- The high court on Monday declined to review a state Republican Party's challenge to the U.S. Securities and Exchange Commission's power to implement a rule preventing "pay-to-play" practices by investment advisers who make political contributions, leaving in place a D.C. Circuit decision in the SEC's favor.

The U.S. Supreme Court issued an order denying a petition for review from GOP leaders in New York, turning away the state Republican leaders' challenge to a D.C. Circuit ruling from June that said the SEC was within its rights to regulate so-called pay-to-play practices. The GOP leaders said in their petition that the decision allows...

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