No More Pay-to-Play in NY State

Lewis, Jakema
September 2009
Mergers & Acquisitions Report;9/28/2009, Vol. 22 Issue 39, p22
The article reports on the decision by New York State Comptroller Thomas DiNapoli to ban the practice called pay-to-play in September 2009. The decision prohibits the New York State Common Retirement Fund (CFR) to be involved in business with investment advisors who have made political contributions to the state's comptroller or a state comptroller candidate. It mentions a similar move by the U.S. Securities and Exchange Commission.


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