Bill > H699

This bill seeks to address "pay-to-play" schemes in the investment advisory industry. It prohibits investment advisors, their partners, executive officers, or solicitors from making political contributions to officials of government entities that they provide or seek to provide investment advisory services to. It also prohibits government officials from soliciting or accepting campaign contributions from investment advisors and then awarding them a contract. The bill includes some exceptions and allows the Office of Campaign and Political Finance to grant exemptions from the contribution ban under certain circumstances. Violations of the law can result in fines and imprisonment for both the investment advisor and the government official involved.

Government Affairs

https://malegislature.gov/Bills/193/H699