{"id":5618,"date":"2014-06-23T00:00:00","date_gmt":"2014-06-23T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/06\/pennsylvania_private_equity_fi"},"modified":"2014-06-23T00:00:00","modified_gmt":"2014-06-23T05:00:00","slug":"pennsylvania-private-equity-fi","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/pennsylvania-private-equity-fi\/","title":{"rendered":"Pennsylvania Private Equity Firm Settles SEC Charges Over \u201cPay to Play\u201d Violations Related to Political Campaign Contributions"},"content":{"rendered":"\n

TL Ventures Inc. has agreed to pay almost $300,000 to settle Securities and Exchange Commission charges. The regulator contends that the Pennsylvania-based private equity firm violated \u201cpay-to-play\u201d rules for advisory fees it continued to get from state pension funds and the city of Philadelphia even after an associate made campaign contributions to the mayoral candidate and the state\u2019s governor. <\/p>\n

This is the SEC\u2019s first case under the investment advisers\u2019 pay-to-play rules, which went into effect in 2010. Under the rules, investment adviser are not allowed to provide compensatory services via pooled investment vehicles or to a government client for two years after a firm or one of its associates makes campaign contributions to political candidates or anyone able to impact the retention of advisers to oversee government client assets. <\/p>\n

Philadelphia\u2019s mayor gets to appoint three members of the Philadelphia Board of Pensions and Retirement. Pennsylvania\u2019s governor gets to choose six of the state\u2019s retirement system board members. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

TL Ventures Inc. has agreed to pay almost $300,000 to settle Securities and Exchange Commission charges. The regulator contends that the Pennsylvania-based private equity firm violated \u201cpay-to-play\u201d rules for advisory fees it continued to get from state pension funds and the city of Philadelphia even after an associate made campaign contributions to the mayoral candidate […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3781,3928,3760,3795,3761],"tags":[],"class_list":["post-5618","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-private-equity","category-sec-enforcement","category-sec-settlements","category-securities-and-exchange-commis"],"yoast_head":"\nPennsylvania Private Equity Firm Settles SEC Charges Over \u201cPay to Play\u201d Violations Related to Political Campaign Contributions — Investor Lawyers Blog — June 23, 2014<\/title>\n<meta name=\"description\" content=\"TL Ventures Inc. has agreed to pay almost $300,000 to settle Securities and Exchange Commission charges. 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