Comment Opposing SEC's Proposed Rescission of Pay-to-Play Rule

CLC submitted a public comment opposing the Securities and Exchange Commission's (SEC) proposed rescission of its 2010 prohibition on pay-to-play conduct in the award of contracts to manage public investment funds. By limiting investment advisers' ability to provide compensated services to government clients after making political contributions to certain elected officials and candidates, this rule has successfully kept at bay the kind of quid pro quo corruption that was largely unchecked prior to its enactment. CLC urges the Commission to preserve this vital regulation that protects the interests of the millions of Americans reliant on the faithful administration of public investment funds.