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2010-07-14
article
Political Contributions by Certain Investment Advisers
Part IV
Rules and Regulations
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D09002ee1bdd1ae9e
United States
Securities and Exchange Commission
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org
United States Government Agency or Subagency
The Securities and Exchange Commission is adopting a new rule under the Investment Advisers Act of 1940 that prohibits an investment adviser from providing advisory services for compensation to a government client for two years after the adviser or certain of its executives or employees make a contribution to certain elected officials or candidates. The new rule also prohibits an adviser from providing or agreeing to provide, directly or indirectly, payment to any third party for a solicitation of advisory business from any government entity on behalf of such adviser, unless such third parties are registered broker-dealers or registered investment advisers, in each case themselves subject to pay to play restrictions. Additionally, the new rule prevents an adviser from soliciting from others, or coordinating, contributions to certain elected officials or candidates or payments to political parties where the adviser is providing or seeking government business. The Commission also is adopting rule amendments that require a registered adviser to maintain certain records of the political contributions made by the adviser or certain of its executives or employees. The new rule and rule amendments address ``pay to play'' practices by investment advisers.
75 FR 41018
https://www.govinfo.gov/app/details/FR-2010-07-14/2010-16559
2010-16559
FR14JY10-12
RIN 3235-AK39
8010-01-P
Release No. IA-3043
File No. S7-18-09
https://www.govinfo.gov/app/details/FR-2010-07-14/2010-16559
https://www.govinfo.gov/content/pkg/FR-2010-07-14/html/2010-16559.htm
https://www.govinfo.gov/content/pkg/FR-2010-07-14/pdf/2010-16559.pdf
Reporting and Recordkeeping Requirements; Securities
54 p.
41018
41071
75 FR 41018
Code of Federal Regulations
Title 17 Part 275
17 CFR Part 275
Regulation Identification Number 3235-AK39
RIN 3235-AK39
Political Contributions by Certain Investment Advisers; Federal Register Vol. 75, Issue
RULE
2010-16559
IV
SECURITIES AND EXCHANGE COMMISSION
2010-09-13
Release No. IA-3043
File No. S7-18-09
8010-01-P
2010-16559
Final rule.
The Securities and Exchange Commission is adopting a new rule under the Investment Advisers Act of 1940 that prohibits an investment adviser from providing advisory services for compensation to a government client for two years after the adviser or certain of its executives or employees make a contribution to certain elected officials or candidates. The new rule also prohibits an adviser from providing or agreeing to provide, directly or indirectly, payment to any third party for a solicitation of advisory business from any government entity on behalf of such adviser, unless such third parties are registered broker-dealers or registered investment advisers, in each case themselves subject to pay to play restrictions. Additionally, the new rule prevents an adviser from soliciting from others, or coordinating, contributions to certain elected officials or candidates or payments to political parties where the adviser is providing or seeking government business. The Commission also is adopting rule amendments that require a registered adviser to maintain certain records of the political contributions made by the adviser or certain of its executives or employees. The new rule and rule amendments address ``pay to play'' practices by investment advisers.
Effective Date: September 13, 2010.
Melissa A. Roverts, Senior Counsel, Matthew N. Goldin, Branch Chief, Daniel S. Kahl, Branch Chief, or Sarah A. Bessin, Assistant Director, at (202) 551-6787 or IArules@sec.gov, Office of Investment Adviser Regulation, Division of Investment Management, U.S. Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-8549.
Reporting and Recordkeeping Requirements; Securities
Political Contributions by Certain Investment Adviser
,
IArules@sec.gov
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