Sept 3 (Reuters) – Wall Street’s top regulator on Thursday proposed reforms to “pay-to-play” regulations intended to prevent investment advisers from winning business from public pension funds by making political contributions.
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Under President Donald Trump, the U.S. Securities and Exchange Commission has said the regulations create needless compliance burdens and are excessively restrictive for investment advisers.
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(Reporting by David Ljunggren and Douglas Gillison, editing by Michelle Nichols )
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