SEC moves to ease pay-to-play rules that limit Wall Street political donations

1. 1The U.S. SEC has proposed relaxing rules that bar investment advisers from managing public pension business if they make political contributions to state or local officials.
2. 2The amendment was sent to the White House for review on Wednesday; under current rules, an adviser that gives employees $150–$350 per election faces a two-year ban on servicing state and local funds.
3. 3The SEC says it aims to reduce verified compliance burdens, noting that the changes do not apply to federal elections and that implementation would not come until next year at the earliest.

Source Bloomberg · View original ↗

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