New York City Comptroller William Thompson is urging Securities and Exchange Commission chairman Mary Schapiro to implement a comprehensive ban on political contributions from investment advisers who are compensated for providing services to public pension funds.

In a letter sent to Schapiro yesterday, Thompson said the restrictions should be modeled on the Municipal Securities Rulemaking Board's existing Rule G-37 restrictions on dealers' political contributions as well as a 1999 SEC proposal that failed to get off the ground in part because of congressional opposition.

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