SEC Proposes Rescinding Pay‑to‑Play Rule for Investment Advisers

The U. S. Securities and Exchange Commission announced a proposal to rescind its pay‑to‑play rule, which currently bars investment advisers from providing compensated advisory services to a government client for two years after receiving a government contract. The proposal would eliminate the two‑year restriction that has limited advisers’ ability to engage with federal agencies. The SEC’s move signals a potential shift in regulatory oversight of adviser‑government relationships, though the proposal remains subject to review and public comment before any formal rule change is adopted.