The Financial Industry Regulatory Authority seeks comments on a proposed rule modeled after a similar Securities and Exchange Commission regulation that aims to prevent investment adviser retention by government entities based on political contributions—so called “pay to play” practices. FINRA’s rule, if adopted, would require certain members to take a time-out from participating in distribution or solicitation activities for payment with a government entity on behalf of an investment adviser that provides or seeks to provide advisory services to the government entity where the member or certain of its officers or employees made a contribution to an official of the government entity within the prior two years. The rule would also impose certain recordkeeping requirements. Comments to FINRA’s proposed rule are due by December 15. Just a few weeks ago, a federal court in the District of Columbia rejected challenges to the SEC’s pay to play prohibitions on technical grounds.