BUSINESS
05/22/2009 05:12 am ET Updated May 25, 2011

SEC's Pay-to-Play Rules To Be Revisted, Schapiro Says

April 21 (Bloomberg) -- The U.S. Securities and Exchange Commission is considering rules to restrict money managers from paying to win state business as regulators ratchet up inquiries into kickbacks paid to a New York political adviser.

The agency is re-evaluating a 1999 proposal that would have barred investment advisers from managing state pension funds if they donated to elected officials involved in awarding adviser contracts, SEC Chairman Mary Schapiro said today in an interview. Schapiro said the SEC is "looking at everything related to municipal markets" as it considers new rules.

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