In this crazy election season, the candidates and everyone around them are under intense scrutiny. Veteran election law practitioners Kenneth Gross and Charles Ricciardelli recently stopped by the Lawline studio to discuss the new Financial Industry Regulatory Authority’s (FINRA) pay-to-play rules, and how they interact with the existing maze of campaign finance laws. They explained how these laws are interpreted and enforced in practice, and what to look for when advising clients on maintaining compliance within these rules and regulations.

Learn more in the CLE Course, Pay-to-Play Rules: Latest Developments on MSRB, SEC, CFTC and FINRA Regulations (get 1 credit).

Here are the key takeaways from this fascinating CLE course:

1. Violations of campaign finance laws carry severe penalties, including criminal investigations and the loss of million-dollar contracts. These kinds of violations are also sensationalized when they involve public officials, so companies face significant risks to their reputations.
2. Vet your consultants and employees, then vet them again. Beware of employees who are also representatives or board members for other organizations, and check for conflicts as a result of past employment. Be very careful of strict liability standards under federal, state and local regulations.
3. Beware of entertainment and gifts. There is a trend toward treating entertainment and gifts as more traditional campaign contributions when it comes to pay-to-play laws.
4. Political laws never sleep! They don’t lose applicability after Nov. 8, so stay current and informed to properly advise your clients about compliance requirements.