Law Commons^™

Marketing Of Investment Advisers To Public Pension Plans: Achieving Transparency Through Lobbying Regulations?, Christina M. Sumpio

William & Mary Business Law Review

In the past decade, public pension plans and their outside investment advisers have been at the center of scandals involving bribery, blatant asset mismanagement, and widespread corruption. In response to this corruption, the U.S. Securities and Exchange Commission and many state legislatures have adopted laws addressing “pay-to-play,” the custom of making political contributions or other payments to state or local officials in return for an opportunity to “play”—invest the public pension fund money. This Note examines certain pay-to-play legislation enacted by state and local governments seeking to regulate investment advisers and public pension plans through the promulgation of lobbying regulations. …