The Securities and Exchange Commission is expected to propose a federal rule that would ban investment advisers from managing public pension-fund money after contributing to the campaigns of state pension fund overseers, a spokesman said.
The "pay-to-play" rule would be among the most sweeping of several new measures targeting the relationship between politicians and the investment community. It could be proposed as soon as July, said commission spokesman John Nestor.
The rule would likely bar an investment manager from managing state pension money for two years after it or certain of its employees or consultants contribute to the ...
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