July 14, 2017, Inside Political Law

Over the past few years, a few state political party committees have relentlessly sought to block or overturn pay-to-play laws overseen by the Securities and Exchange Commission (SEC). Yesterday, the Sixth Circuit delivered another defeat to an ongoing effort to challenge federal pay-to-play laws. Last year, we noted that the Municipal Securities Rulemaking ...

July 10, 2017, Inside Political Law

Starting this month, nearly all of Kentucky’s campaign contribution limits increase, excepting contributions that remain either unlimited in amount or prohibited. Perhaps the most substantial change is the establishment of building fund accounts for political party executive committees, which may now accept unlimited funds from corporations. Also of note is the ...

March 31, 2016, Inside Political Law

The Securities and Exchange Commission announced Tuesday that it will allow further comment on a pay-to-play rule proposed by the Financial Industry Regulatory Authority (FINRA). As we discussed previously, if the SEC approves FINRA’s pay-to-play rule, it would clarify that investment advisers are allowed to hire third party solicitors if they are subject to ...

March 7, 2016, Inside Political Law

New Jersey is well-known for having strict, comprehensive, and complex pay-to-play laws.  Two new changes to an annual pay-to-play filing required of some government contractors will only enhance that reputation. State law requires a company that receives $50,000 annually through government contracts in New Jersey to file a report by March 30 of the ...

February 18, 2016, Inside Political Law

On Wednesday, the Municipal Securities Rulemaking Board (MSRB) announced that its expanded pay-to-play rules will cover municipal advisors, including third-party solicitors, as of August 17, 2016. As we noted previously and discussed during Covington’s Corporate Political Activity & Government Affairs Compliance Conference earlier this month, the MSRB has been ...

November 25, 2015, Inside Political Law

As the nation looks forward to giving thanks with family and friends, the Office of Government Ethics (OGE) will be proposing revisions to regulations that specify when employees of the federal executive branch must say, “No, thanks.” These changes are only proposals at this time and have not yet taken effect. Many of the changes...… Continue Reading The post ...

July 8, 2015, Inside Political Law

The Wagner case, decided today by the D.C. Circuit, is important because of its analysis of the constitutionality of federal campaign contribution restrictions and, by extension, of pay-to-play laws generally. Covington has been monitoring this case since the district court decision in 2012, to the argument before the D.C. Circuit in 2013, and the decision...… ...

January 20, 2015, Inside Political Law

In our discussion of the Securities & Exchange Commission’s (SEC) actions over the past year, we described how the SEC is ramping up enforcement of its pay-to-play restrictions.  We also pointed out an acknowledgment by an agency enforcement official that the agency is “actively looking” for violations and that the agency does its own “surveillance.” What ...

January 12, 2015, Inside Political Law

The notion that the House and Senate Ethics Committees are inactive bodies, often implied in media coverage, is far from the truth. During the previous Congress, the House Ethics Committee issued more than 900 formal advisory opinions and addressed more than 40,000 informal requests for guidance.  In the first half of the 113th Congress alone,...… Continue ...

November 19, 2014, Inside Political Law

On November 14, the Financial Industry Regulatory Authority (FINRA) issued a notice asking for comment (by December 15) on its proposal to establish three rules designed to restrict pay-to-play practices.  The three rules include a pay-to-play prohibition (Rule 2390), a disclosure requirement (Rule 2271), and a recordkeeping requirement (Rule 4580).  The rules ...

February 6, 2014, Covington E-Alert

August 15, 2013, The Hill's Congress Blog

October 19, 2011, Covington E-Alert

2009, 46 Am. Crim. L. Rev. 1267