SEC Issues Risk Alert on Pay-to-Play Rules


The SEC has issued a National Examination Risk Alert related to pay-to-play rules governing firms in the municipal securities business, not surprisingly a hot SEC topic considering the upcoming elections. Apparently, SEC examiners are finding that many firms are not taking the proper steps to comply with a Municipal Securities Rulemaking Board (MSRB) rule that deals with contributions to political campaigns of public officials of companies with whom they are doing or seek to do business.

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Published In: Business Organization Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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