]]> Home | Message Board Home Search Arbitration Investors Brokers Finance Law Compliance Archives

ICAA Report on Pay to Play Released

The Association Argues against the SEC Proposals

By John M. Baker, Esq.

The Investment Counsel Association of America on May 15 issued a report on Pay-to-Play and the Investment Advisory Profession.

The report argues against the specifics of the SEC proposal on pay-to-play practices by investment advisers. It argues instead that the SEC instead should define pay-to-play as the practice of an investment adviser or its employees giving political contributions for the purpose of obtaining the award or retention of investment advisory contracts by government entities.

The report also provides best practices guidelines for investment advisers’ codes of ethics. The report may be accessed from http://www.icaa.org/html/comments___statements.html

SEC Chairman Levitt praised the report and specifically its best practices provisions. The SEC press release is available at http://www.sec.gov/news/paytopla.htm


Copyright 2000, John M. Baker, Esq., Stradley, Ronon, Stevens & Young, LLP, 1220 19th Street, N.W., Suite 700, Washington, DC 20036 – (202) 822-9611- Fax (202) 822-0140 This article was originally posted to the FundLaw List, http://www.egroups.com/group/fundlaw. To subscribe to FundLaw, send a blank e-mail to fundlaw-subscribe@egroups.com

Nothing herein is intended as legal or financial advice. The law is different in different jurisdictions, and the facts of a particular matter can change the application of the law. Please consult an attorney or your financial advisor before acting upon the information contained in this article.  

Return to The Securities Law Home Page 

]]> ]]>