CORRECT: Wall Street State Campaign-Cash Challenge Rejected

(Bloomberg) -- (Corrects headline to show challenge rejected) A legal challenge to SEC rule that makes it harder for Wall Street to contribute to state campaigns including gubernatorial races was rejected by a U.S. appeals court.

* The Washington-based court dismisses lawsuit by Republican

Party groups from N.Y., Tenn. to SEC’s 2010 rule, saying the

challenge filed too late * NOTE: Rule bars investment advisers from doing business with

a govt agency for at least 2 yrs after contributing to

campaign of an official that could affect their hiring * NOTE: Decision comes as Republican governors Chris Christie

of N.J., Scott Walker of Wis., John Kasich of Ohio and Bobby

Jindal of La. vie for their party’s presidential nomination

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To contact the reporter on this story: Andrew Harris in Washington at +1-202-624-1966 or aharris16@bloomberg.net To contact the editors responsible for this story: Derek Wallbank at +1-202-654-1240 or dwallbank@bloomberg.net James O’Connell

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