summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
Relative to political contributions by investment advisors doing business with public entities. State Administration and Regulatory Oversight.
AI Summary
This bill prohibits "pay-to-play" schemes, where investment advisors make campaign contributions to government officials in order to secure investment advisory contracts. The key provisions include:
1. It is unlawful for an investment advisor, their partners, executive officers, or solicitors to make contributions to officials of a government entity that the advisor is providing or seeking to provide services to, within two years of the contribution.
2. It is unlawful for an investment advisor or their affiliates to solicit or coordinate contributions to officials of a government entity they are working with or seeking to work with.
3. It is unlawful for a government official to solicit or accept campaign contributions from an investment advisor and then award that advisor a contract.
The bill provides some exceptions and allows the Office of Campaign and Political Finance to grant exemptions in certain cases. Violations are subject to fines and imprisonment.
Committee Categories
Government Affairs
Sponsors (12)
Jay Barrows (R),
Nick Boldyga (R),
Kim Ferguson (R),
Paul Frost (R),
Susan Gifford (R),
Sheila Harrington (R),
Steven Howitt (R),
Randy Hunt (R),
Brad Jones (R),
Kevin Kuros (R),
Dave Muradian (R),
Todd Smola (R),
Last Action
Accompanied a study order, see H4481 (on 05/10/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://malegislature.gov/Bills/190/H1677 |
Bill | https://malegislature.gov/Bills/190/H1677.pdf |
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