SRYL Founding Partner Joe Sandler was cited as an expert in Federal Pay-to-Play rules in an article about New Jersey Governor Chris Christie for NJ.com. The article discusses how the rule could affect Governor Christie should he decide to run for President:
Under the rule, executives in firms that manage investments or give investment advice to state pension funds are barred from donating to candidates who have any say over how the work is awarded, unless the firms are willing to refrain from doing business with the state for two years.
In New Jersey, the governor appoints most members of the State Investment Council, which oversees the state pension system — including the chairman, Robert Grady, who is one of Christie’s closest advisers — so experts agree the rule clearly applies to him.
The result is that Governor Christie is largely restricted from accepting contributions from Wall Street executives, many of whom live in the Garden State. Mr. Sandler told NJ.com that the rule puts “‘any incumbent governor in [Mr. Christie’s] situation’ at a disadvantage ‘more than it would any incumbent senator or member of Congress.'” He added that “to the extent that you’re talking about a governor from a state who’s heavily dependent on donations from that industry, it would have a disproportionate effect” on Governor Christie.
Read the full article here.