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Regulation

CalPERS, States Urge SEC To Keep Adviser Pay-To-Play Rule

Tuesday, November 10, 2026 · first reported by Law360

State officials and public pension funds, CalPERS among them, are pressing the SEC to retain its 15-year-old pay-to-play rule for investment advisers. Under the rule, an adviser that gives money to certain political campaigns is shut out of business with state and municipal funds. The groups say the restriction guards retirees against corruption.

Also named
SEC
Asset class
Private equity
Geography
North America

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