{"abstract":"The Securities and Exchange Commission (\"Commission\" or \"SEC\") is extending the date by which advisers must comply with the ban on third-party solicitation in rule 206(4)-5 under the Investment Advisers Act of 1940, the \"pay to play\" rule. The Commission is extending the compliance date in order to ensure an orderly transition for advisers and third-party solicitors as well as to provide additional time for them to adjust compliance policies and procedures after the transition.","action":"Final rule; extension of compliance date.","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2012/06/13/2012-14440.html","cfr_references":[{"chapter":null,"citation_url":null,"part":275,"title":17}],"citation":"77 FR 35263","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective date: The effective date for this release is June 11, 2012. The effective date for the ban on third-party solicitation under rule 206(4)-5 of the Investment Advisers Act of 1940 remains September 13, 2010.","disposition_notes":null,"docket_ids":["Release No. IA-3418","File No. S7-18-09"],"dockets":[],"document_number":"2012-14440","effective_on":"2012-06-11","end_page":35264,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2012/06/13/2012-14440.xml","html_url":"https://www.federalregister.gov/documents/2012/06/13/2012-14440/political-contributions-by-certain-investment-advisers-ban-on-third-party-solicitation-extension-of","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2012-14440?publication_date=2012-06-13","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2012-06-13/2012-14440/mods.xml","not_received_for_publication":null,"page_length":2,"page_views":{"count":579,"last_updated":"2026-07-25 18:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2012-06-13/pdf/2012-14440.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2012-14440.pdf?1339418829","publication_date":"2012-06-13","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2012/06/13/2012-14440.txt","regulation_id_number_info":{"3235-AK39":{"issue":"201010","html_url":"https://www.federalregister.gov/regulations/3235-AK39/political-contributions-by-certain-investment-advisers","title":"Political Contributions by Certain Investment Advisers","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201010&RIN=3235-AK39&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["3235-AK39"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/3235-AK39/political-contributions-by-certain-investment-advisers","title":"Political Contributions by Certain Investment Advisers"},"comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=SEC-2012-0941","supporting_documents_count":0,"docket_id":"SEC-2012-0941","regulation_id_number":"3235-AK39","title":"Political Contributions by Certain Investment Advisers: Ban on Third-Party Solicitation; Extension of Compliance Date","checked_regulationsdotgov_at":"2012-07-03T08:04:50Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":35263,"subtype":null,"title":"Political Contributions by Certain Investment Advisers: Ban on Third-Party Solicitation; Extension of Compliance Date","toc_doc":"Ban on Third-Party Solicitation; Extension of Compliance Date","toc_subject":"Political Contributions by Certain Investment Advisers:","topics":[],"type":"Rule","volume":77}