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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