A federal district court in the District of Columbia rejected challenges by the New York State and Tennessee Republican parties to a regulation of the Securities and Exchange Commission that prohibits registered investment advisors from providing advisory services for compensation to a government entity within two years after making a contribution to certain officials of that entity. This prohibition against so-called “pay to play” arrangements was enacted in 2010. The basis for the court’s rejection of plaintiff’s suit, however, was technical. The court wrote that it lacked subject matter jurisdiction over the plaintiff’s action, claiming that the challenge, under applicable law, should have been brought in the appellate court for the District of Columbia (namely, the Court of Appeals), not the district court.