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Adam Aderton Quoted in WSJ Pro Private Equity on SEC’s Proposal to Rescind its Pay-to-Play Rule
Partner Adam Aderton was quoted in a WSJ Pro Private Equity article titled, “SEC Move Could Open Door to More Private-Equity Political Spending,” which examined the SEC’s proposal to rescind its “pay-to-play” rule and the potential impact on private equity managers. Adam noted that while the elimination of the SEC’s rule would allow campaign donations by money managers that work with public investment funds, the rescission would not mean that firms could abandon scrutiny of campaign donations because there are similar laws at the state and local levels, as well as other antifraud statutes that exist. He explained, “Many state and local jurisdictions have their own pay-to-play rules, and it’s possible the elimination of the federal rule could lead to changes or increased enforcement of these rules.”
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