The months leading up to the 2020 U.S. Presidential election have seen unprecedented political donations on both sides of the aisle.
Pay-to-play compliance is a concern for firms of all sizes. And it won’t go away after the election. Restrictions on gifts and entertainment and potential lobbyist registration requirements also remain areas of concern. Firms need to have policies and procedures in place to identify potential conflicts of interest—and avoid the fines and reputational damage that those conflicts can bring.
To learn more, watch the on-demand webinar Pay-to-Play Compliance: The 2020 Election and Beyond.
Sonia R. Gioseffi from K&L Gates will provide an overview an overview of what you need to know to understand and manage pay-to-pay compliance and other compliance concerns with respect to public pension plans, including:
- A summary of SEC Rule 206(4)-5 and other pay-to-play rules
- SEC enforcement implications
- Issues related to gifts and entertainment
- Potential lobbyist registration requirements
- Strategies for addressing these risk areas
Is your firm aware of the impact of political contributions your employees are making during this contentious election cycle? And are your employees aware of the rules they are beholden to?
Pay-to-play compliance is a concern for firms of all sizes. With donor data tracked at the federal, state and local level, and state and local rules differing across jurisdictions, tracking pay-to-pay compliance is a challenge. Running periodic spot checks or relying on employees to self-report donations is both time-consuming and risky.
Firms need policies and procedures in place to monitor employee contributions to identify potential conflicts of interest. Compliance teams need access to comprehensive political donation data, solid tracking systems in place to satisfy regulatory requirements and must be able to easily identify prohibited contributions.
MCO’s Political Contributions and Donations solution provides firms of all sizes with access to updated donation data across federal, state, and local jurisdiction, providing the ability to verify employee contributions against an outside source . Compliance teams can easily and efficiently configure customized rules and run reporting to manage and monitor political contributions.
The giving and receiving of gifts and entertainment also has the possibility to be perceived as a conflict of interest. It’s important that organizations review their practices and implement a code of conduct in order to improve training, compliance monitoring, attestation and reporting, and more closely manage risk. Download our report for a deeper look at gifts and entertainment trends in global organizations.
Ready to learn more? Let us know and one of our experts will be in touch.