Avoiding Pay-to-Play Pitfalls

May 28, 2010
Both federal and state lawmakers are increasingly focusing on activities by firms that provide services to public entities. Scandals involving the New York State Common Retirement fund resulted in a host of reforms in 2008 and 2009 that notably included the SEC’s proposed Rule 206(4)-5 under the the Investment Advisers Act. This article discusses the ramifications of the Act, should the SEC adopt it, as well as possible next steps regarding compliance.