Houston PE firm fined $500,000 for ‘pay-to-play’ contributions to Texas political candidates, others

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Houston-based EnCap Investments LP will pay a fine for allegedly violating rules relating to donations to political campaigns and investment activities with public entities. The oil and gas private equity firm will pay $500,000 to the Securities and Exchange Commission for actions in violation of the SEC’s “pay-to-play” rule, according to a July 10 SEC settlement order. Among other regulations, the "pay-to-play" rule prohibits investment advisers from doing business with a government...

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