{
  "id": 9542998,
  "title": "The SEC Wants to Scrap a Key Anti-Corruption Rule Targeting Private Equity",
  "url": "https://urgent.news/2026/09/24/the-sec-wants-to-scrap-a-key-anti-corruption-rule-targeting-private",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T11:00:00.000Z",
  "source": {
    "name": "Mother Jones",
    "slug": "mother-jones",
    "url": "https://www.motherjones.com/politics/2026/09/sec-pay-to-play-rule-private-equity-apollo-carlyle-quadrangle-pension-funds/"
  },
  "original_language": "en",
  "account": "The Securities and Exchange Commission (SEC) has proposed scrapping a key anti-corruption rule that prevents private equity firms from buying access to pension funds managed by public employees. Known as the \"pay-to-play\" rule, the regulation was enacted nearly two decades ago in response to scandals where Wall Street firms made secret payments to state and local officials in exchange for managing public pension funds. The SEC argues that the rule is unnecessary and burdens firms with complexities that lead to penalties for minor donations. The rule has resulted in the suppression of political speech, according to the SEC's chairman, Paul Atkins. However, advocates argue that the rule has effectively combated pay-to-play arrangements that allowed investment firms to secure investments at the expense of public retirees. If the SEC's proposal is approved, investment firms could once again buy access to Americans' retirement savings, potentially leading to significant financial losses.",
  "summary": "Earlier this month, the Securities and Exchange Commission quietly published a proposal to rescind a long-standing anti-corruption measure that prevents private equity firms and other investment advisers from buying access to billions of dollars in pension funds that belong to public employees like teachers, police, firefighters, and more. The regulation, which has come to be […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}