2022 SEC charges totaling over $300,000 highlight the risk levels for such pay-to-play violations. The report, which includes the applicable pensions for those candidates subject to such rules, aims to enable more comprehensive compliance and deter future violations.
New York, March 19, 2024 – COMPLY, the global market leader of compliance software, consulting, and education resources for the financial services sector, today announced the publication of its 2024 Elections Insight Report. The report, designed to better support our audience and enable political contribution compliance, includes a compilation and analysis of approximately 1,200 candidates running for office in the 2024 general election.
“In publishing this report, we aim to arm our readers with the insight and actionable information they need to proactively protect their firm from pay-to-play compliance risk,” said David Bliss, COMPLY Chief Product Officer. “According to the Federal Election Commission, candidates have raised over $1 billion since January 1, 2023, while all parties and committees have raised over $6 billion in that same period. Given the continued increase in political contributions, many firms are likely to face increased risk complying with pay-to-play regulations during this general election season. Contributing to this risk is the often-manual processes by which firms must comb through candidates and their contributions to determine whether covered associates have complied with all relevant regulations. By aggregating this level of data and detail into our 2024 publication, we enable more robust data analysis and, ultimately, enhanced compliance.”
The report, which aggregates thousands of data sets, includes information on:
- Presidential election candidates
- Senate election candidates
- House election candidates
The research highlights which candidates are running for which office and what their occupation is—including state or local officials and who may be subject to pay-to-play regulations. For those candidates, we also include a list of potentially relevant pension funds, though there may also be additional public finance considerations. The information gathered in this report was collected between early to mid-January 2024. Candidates were assessed using a two-year lookback period. Should your jurisdiction mandate a more extended lookback period, additional candidates may fall into the scope of pay-to-play risk.
The COMPLY 2024 Election Insight Report is now available for download.
About COMPLY
As a global market leader in regulatory compliance solutions, COMPLY combines the power of regulatory technology, services, and education to empower Chief Compliance Officers (CCOs) and compliance professionals to easily navigate the regulatory landscape. COMPLY enables firms to scale their growth while remaining vigilant in their compliance efforts by providing solutions designed to manage the burden of complex compliance tasks. Our deep bench of industry expertise – which includes expansive knowledge in technology enablement and regulatory compliance protocols and processes from our product portfolio offerings ComplySci, RIA in a Box, and NRS — supports more than 7,000 clients, including investment management firms, private equity firms, hedge funds, broker-dealers, registered investment advisers and other financial service sector participants.
COMPLY continually supports clients in their work to proactively address core compliance challenges – minimizing risk, addressing critical priorities, and meeting new demands as the industry evolves and the firm scales.
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Brianna Fredriksen
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