On June 6th, the Financial Industry Regulatory Authority encouraged firms to assist investment advisers seeking information in accordance with Rule 206(4)-5 of the Investment Advisers Act of 1940. That provision curbs "pay-to-play" practices by prohibiting an investment adviser from providing advisory services for compensation to a government client for a period of time after the adviser makes a contribution to certain elected officials or candidates. In some cases, it may be difficult for an investment adviser to identify government investors when shares in a covered investment company managed by the investment adviser are held through an intermediary. In these situations, FINRA encouraged firms to make reasonable efforts to assist investment advisers seeking to comply with Rule 206(4)-5. FINRA Information Notice.