GOP looks to shake loose more Wall Street cash

GOP looks to shake loose more Wall Street cash

August 13, 2014, Politico

Covington partner Rob Kelner is quoted regarding campaign spending limits and a Securities and Exchange Commission rule that limits contributions from Wall Street financiers to governors and other state officials running for federal office:

"Campaign finance lawyers said they had always expected someone to challenge the SEC’s rule in court, but it was difficult to find either a politician or money manager willing to publicly crusade against an anti-bribery regulation." 

'"That made it very difficult to find a plaintiff to stick his or her head up over the trenches and engage in battle with the SEC,' said Robert Kelner, a lawyer who has represented the Republican National Committee."

'“All of these things together have created a very hospitable environment for a challenge to the SEC,”' said Kelner, who is with Covington & Burling LLP."