The New York City Law Department issued an opinion to the New York City Clerk in 2010 that clarifies the application of the New York City Lobbying Law to placement agents and other persons who attempt to influence decisions made by the New York City Comptroller, Comptroller’s staff, boards of trustees of the City’s pension funds and retirement systems or members of their staff, about the investment of pension funds. Effective in 2011, placement agents and other persons conducting such activity and who have (or reasonably expect to have) more than $2,000 in annual compensation and expenses for lobbying must register and report as lobbyists. According to a December 2010 notice by the Office of the New York City Clerk, the first possible set of lobbying registration filings by those persons determined to be Lobbyists are due on February 15, 2011.

Click on the PDF link above to view the full alert.

Source: Investment Management Alert
Leave Drinker Biddle to Learn More