[EL] ELB News and Commentary 10/16/11

Sun Oct 16 14:20:03 PDT 2011

Adam,

Would you agree that Rick Perry is covered because he is a current state
officeholder, not because he is running for a federal office, as the Weekly
Standard stated?

Edward Still
Edward Still Law Firm LLC
130 Wildwood Parkway, Suite 108, PMB 304
Birmingham AL 35209
205-320-2882 (voice & fax)
  www.votelaw.com/blog
  www.edwardstill.com
  www.linkedin.com/in/edwardstill <http://www.linkedin.com/in/edwardstill>

On Sun, Oct 16, 2011 at 4:04 PM, Bonin, Adam C. <ABonin at cozen.com> wrote:

> The Rule excludes federal officials, insofar as the definition of
> "government entity" whose officials are covered is "any state or political
> subdivision of a state."  Rule 206(4)-5(f)(5).
> http://www.sec.gov/rules/final/2010/ia-3043.pdf
>
> From the summary:
>
> The rule’s two-year time out is triggered by a contribution to an
> “official” of a “government entity.” An official includes an incumbent,
> candidate or successful candidate for elective office of a government entity
> if the office is directly or indirectly responsible for, or can influence
> the outcome of, the hiring of an investment adviser or has authority to
> appoint any person who is directly or indirectly responsible for, or can
> influence the outcome of, the hiring of an investment adviser. Government
> entities include all state and local governments, their agencies and
> instrumentalities, and all public pension plans and other collective
> government funds, including participant-directed plans such as 403(b), 457,
> and 529 plans.
>
>
> ________________________________
> From: law-election-bounces at department-lists.uci.edu [
> law-election-bounces at department-lists.uci.edu] on behalf of John Tanner [
> john.k.tanner at gmail.com]
> Sent: Sunday, October 16, 2011 4:23 PM
> To: Edward Still
> Cc: law-election at UCI.EDU
> Subject: Re: [EL] ELB News and Commentary 10/16/11
>
> It looks like this is addressed to those who manage pension funds.  Does
> the federal government actually manage any pension funds?  I understood that
> federal pensions, like social security, are not backed by actual assets that
> are invested in anything other than, perhaps, Treasury bonds that we have
> sold to ourselves -- that they're secured by a general promise to pay us
> later or at least respect us in the morning.
>
> On Sun, Oct 16, 2011 at 3:59 PM, Edward Still <still at votelaw.com<mailto:
> still at votelaw.com>> wrote:
> I have a question about the Weekly Standard article linked below. The
> article says, "And while this new ruling primarily affects Perry at the
> presidential level, it could have far-reaching consequences going forward,
> since it applies to every state office holder seeking federal office from
> here on out." A quick review of the SEC's final rule<
> http://www.sec.gov/rules/final/2010/ia-3043.pdf> leads me to believe that
> the rule applies to office holders and candidates at any level of
> government, not just those seeking federal office. Specifically, the
> following definition in the rule leads to that conclusion:
>
> § 275.206(4)-5 (f) (6)
> Official means any person (including any election committee for the person)
> who was, at the time of the contribution, an incumbent, candidate or
> successful candidate for elective office of a government entity, if the
> office:
> (i)
> Is directly or indirectly responsible for, or can influence the outcome of,
> the hiring of an investment adviser by a government entity; or
> (ii)
> Has authority to appoint any person who is directly or indirectly
> responsible for, or can influence the outcome of, the hiring of an
> investment adviser by a government entity.
>
> Am I wrong in my conclusion?
>
>
> Edward Still
> Edward Still Law Firm LLC
> 130 Wildwood Parkway, Suite 108, PMB 304
> Birmingham AL 35209
> 205-320-2882<tel:205-320-2882> (voice & fax)
>  www.votelaw.com/blog<http://www.votelaw.com/blog>
>  www.edwardstill.com<http://www.edwardstill.com/>
>  www.linkedin.com/in/edwardstill<http://www.linkedin.com/in/edwardstill>
> <http://www.linkedin.com/in/edwardstill>
>
>
> On Sun, Oct 16, 2011 at 11:29 AM, Rick Hasen <rhasen at law.uci.edu<mailto:
> rhasen at law.uci.edu>> wrote:
>
> “The Perils of Donating to Perry; The SEC’s curious role in campaign
> finance.”<http://electionlawblog.org/?p=24256>
> Posted on October 15, 2011 5:14 am<http://electionlawblog.org/?p=24256> by
> Rick Hasen<http://electionlawblog.org/?author=3>
>
> The Weekly Standard reports<
> http://www.weeklystandard.com/articles/perils-donating-perry_595199.html>.
>
> [Share]<
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> Posted in campaign finance<http://electionlawblog.org/?cat=10> | Comments
> Off
>
>
>
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