The Securities and Exchange Commission (SEC) announced a proposed rule change on Thursday that would eliminate a 2010 regulation prohibiting investment advisers from offering services to public pension funds if they made recent political donations to state and local elected officials.

The plan, if finalized, would remove restrictions enacted after scandals involving fund managers making political campaign contributions to win pension management contracts.

The proposed change was announced on September 3, 2026, according to a report from Bloomberg Markets.