TITLE

Haines Warns Of Indirect G-37 Abuses

AUTHOR(S)
Hume, Lynn
PUB. DATE
February 2005
SOURCE
Bond Buyer;2/2/2005, Vol. 351 Issue 32062, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Securities and Exchange Commission's (SEC) top municipal securities official cautioned broker-dealers against circumventing Rule G-37 on political contributions, warning that this could lead federal regulators to revisit the rule and consider whether it needs tightening. Martha Mahan Haines, chief of the SEC's Office of Municipal Securities, stressed that her remarks were personal and not necessarily those of the SEC or its staff, said that the commission staff is particularly concerned about dealer contributions to campaigns for bond referenda that are designed to get voter approval for bond issues. Such contributions are not prohibited by G-37, but Haines said the staff is seeing "some pretty blatant pay-to-play activities" going on in this area, which the rule is designed to prohibit
ACCESSION #
15909873

 

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