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The SEC has proposed rescinding the “Pay-to-Play” Rule, meant to prevent investment advisers and fund managers from bribing public officials. The SEC cited the rule’s complex requirements as causing firms to impose blanket prohibitions on employee political contributions, and in turn, impacting their political speech rights. Taking a rigid stance, the SEC has not offered ways to  amend the rule or suggested alternative regulations to prevent inherent conflicts and corruption tied to political contributions. The pay-to-play rule is meant to help firms avoid these situations and includes broad protections by prohibiting “covered associates” from offering advisory services to government clients for two years after making contributions to political candidates. The rule was passed unanimously by the SEC in 2010 and achieved bipartisan support. See Yahoo! Finance, “Trump’s SEC proposes scrapping the pay-to-play rule guarding $6 trillion in public pension funds from Wall Street donors”