The Investment Counsel Association of America of Washington D.C., has proposed a code of ethics for investment advisers regarding their contributions to politicians.

The proposal urges investment advisers to adopt a code of ethics that prohibits advisers from making political contributions for the purpose of obtaining government business managing, for example, pension funds. The counsel recommends that firms use some combination of a contribution ban, pre-clearance of contributions by an adviser's compliance executives and disclosure of contributions to clients as the best means to check problems.

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