The Hill reports on comments received in the SEC’s rulemaking to address pay to play issues.

The Investment Company Institute (ICI) said the policy “significantly overreaches” and should be more narrowly tailored. The Managed Funds Association (MFA), which represents hedge funds, argued that the $250 level for political contributions is too low and should be raised to $1,000.

ICI, MFA and many of the financial interests raised concerns specifically about the proposed ban on placement agents. The hedge fund group said that the ban would harm alternative and offshore investors.

The comments are available here.