BLOUNT v. S.E.C.

No. 94-1336.

61 F.3d 938 (1995)

William B. BLOUNT, Petitioner, v. SECURITIES AND EXCHANGE COMMISSION, Respondent, Municipal Securities Rulemaking Board, Intervenor.

United States Court of Appeals, District of Columbia Circuit.

Decided August 4, 1995.

Rehearing and Suggestion for Rehearing Denied October 4, 1995.


Attorney(s) appearing for the Case

Kevin T. Baine, Washington, DC, argued the cause, for petitioner. With him on the briefs, were Robert B. Barnett, Erik S. Jaffe, Lawrence Shore and Kevin M. Downey, Washington, DC.

Simon M. Lorne, Gen. Counsel, S.E.C., Washington, DC, argued the cause, for respondent. With him on the brief, were Jacob H. Stillman, Associate Gen. Counsel, and Eric Summergrad, Principal Asst. Gen. Counsel, S.E.C., Washington, DC. Paul Gonson, Washington, DC, entered an appearance, for respondent.

Harvey L. Pitt, Washington, DC, argued the cause, for intervenor. With him on the brief, was James H. Schropp, Washington, DC.

Before: WILLIAMS, HENDERSON and ROGERS, Circuit Judges.


Rehearing and Suggestion for Rehearing In Banc Denied October 4, 1995.

STEPHEN F. WILLIAMS, Circuit Judge:

In late 1993, regulators of the municipal securities markets began to investigate reports that brokers and dealers were engaging in a variety of ethically questionable practices in order to secure underwriting contracts. These practices, often lumped together under the label "pay to play", include as a paradigmatic example the making of political contributions...

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