Investment advisers will soon have to abide by new SEC rules that curb campaign contributions to elected officials given with the hope of getting lucrative contracts for the management of public pension plan assets.

The “pay-to-play” rules prohibit investment advisers from providing advisory services for compensation either directly or through a pooled investment vehicle for two years, if the adviser or certain of its executives or employees make a political contribution to an elected official who is in a position to influence the selection of the adviser, the SEC said June 30.

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