A Securities and Exchange Commission administrative law judge has ordered former investment adviser Kent D. Nelson barred from the securities markets after he pleaded guilty to a felony in connection with a pay-to-play scheme involving the New Mexico treasurer's office.

Administrative law Judge Robert G. Mahoney issued the order Tuesday and it will become final if Nelson does not file a petition for review or a motion to correct the record, and the SEC issues an "order of finality."

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