On Wednesday, the Municipal Securities Rulemaking Board (MSRB) announced that its expanded pay-to-play rules will cover municipal advisors, including third-party solicitors, as of August 17, 2016.
As we noted previously and discussed during Covington’s Corporate Political Activity & Government Affairs Compliance Conference earlier this month, the MSRB has been drafting
Continue Reading MSRB Pay-to-Play Rule Expanded, Opening Door to Enforcement
As the nation looks forward to giving thanks with family and friends, the Office of Government Ethics (OGE) will be proposing revisions to regulations that specify when employees of the federal executive branch must say, “No, thanks.” These changes are only proposals at this time and have not yet taken
Continue Reading Thanksgiving Treat: Executive Branch Gift Rules in for Rewrite
The Wagner case, decided today by the D.C. Circuit, is important because of its analysis of the constitutionality of federal campaign contribution restrictions and, by extension, of pay-to-play laws generally. Covington has been monitoring this case since the district court decision in 2012, to the argument before the D.C. Circuit
Continue Reading Highlights from Wagner; D.C. Circuit Upholds Contributions Restrictions But Limits Ruling
In our discussion of the Securities & Exchange Commission’s (SEC) actions over the past year, we described how the SEC is ramping up enforcement of its pay-to-play restrictions. We also pointed out an acknowledgment by an agency enforcement official that the agency is “actively looking” for violations and that the
Continue Reading The SEC & Big Data
The notion that the House and Senate Ethics Committees are inactive bodies, often implied in media coverage, is far from the truth.
During the previous Congress, the House Ethics Committee issued more than 900 formal advisory opinions and addressed more than 40,000 informal requests for guidance. In the first half
Continue Reading Ethics Enforcement in the 114th Congress
On November 14, the Financial Industry Regulatory Authority (FINRA) issued a notice asking for comment (by December 15) on its proposal to establish three rules designed to restrict pay-to-play practices. The three rules include a pay-to-play prohibition (Rule 2390), a disclosure requirement (Rule 2271), and a recordkeeping requirement (Rule 4580).
Continue Reading FINRA Likely to Adopt Pay-to-Play Rule
On October 15, Pennsylvania’s legislature sent House Bill 201 to Governor Tom Corbett for signature. The legislation would prohibit a government employee from evaluating bids for state contracts submitted by his or her former employer for two years.
This legislation is interesting for a few reasons. First, it is a
Continue Reading New, Strict “Reverse” Revolving Door Restrictions in Pennsylvania?
New York State’s lobbying and ethics regulator, the Joint Commission on Public Ethics (JCOPE), released a number of new rules, effective this week, including rules on the giving and receiving of gifts, honoraria, and payment for expenses.
JCOPE, which was established by the state’s Public Integrity Reform Act of 2011,
Continue Reading New York State Regulator Adopts New Ethics Rules
The rules on corporate contributions to Super PACs were made clearer today when the Federal Election Commission (FEC) released its finding that Chevron Corporation’s $2.5 million contribution in 2012 to the Congressional Leadership Fund (a Super PAC) had not violated the bar on government contractors making contributions in federal elections.
Continue Reading In Chevron Case, FEC Brings Clarity to the Federal Contractor Ban and Super PACs
The Supreme Court’s latest major campaign finance decision, McCutcheon v. FEC, “does not involve” a challenge to current limits on contributions to political party committees and PACs, which the Court “previously upheld as serving the permissible objective of combatting corruption.” But it nonetheless provides fodder for those who would
Continue Reading After McCutcheon, Are Limits on Party Committee and PAC Contributions Justifiable?