Treasury
3-MO 3.89% -3bp 6-MO 3.95% -5bp 1-YR 4.11% -5bp 2-YR 4.34% -5bp 3-YR 4.41% -4bp 5-YR 4.52% -2bp 7-YR 4.63% -3bp 10-YR 4.77% -2bp 20-YR 5.25% -2bp 30-YR 5.25% -2bp 3-MO 3.89% -3bp 6-MO 3.95% -5bp 1-YR 4.11% -5bp 2-YR 4.34% -5bp 3-YR 4.41% -4bp 5-YR 4.52% -2bp 7-YR 4.63% -3bp 10-YR 4.77% -2bp 20-YR 5.25% -2bp 30-YR 5.25% -2bp 3-MO 3.89% -3bp 6-MO 3.95% -5bp 1-YR 4.11% -5bp 2-YR 4.34% -5bp 3-YR 4.41% -4bp 5-YR 4.52% -2bp 7-YR 4.63% -3bp 10-YR 4.77% -2bp 20-YR 5.25% -2bp 30-YR 5.25% -2bp 3-MO 3.89% -3bp 6-MO 3.95% -5bp 1-YR 4.11% -5bp 2-YR 4.34% -5bp 3-YR 4.41% -4bp 5-YR 4.52% -2bp 7-YR 4.63% -3bp 10-YR 4.77% -2bp 20-YR 5.25% -2bp 30-YR 5.25% -2bp 3-MO 3.89% -3bp 6-MO 3.95% -5bp 1-YR 4.11% -5bp 2-YR 4.34% -5bp 3-YR 4.41% -4bp 5-YR 4.52% -2bp 7-YR 4.63% -3bp 10-YR 4.77% -2bp 20-YR 5.25% -2bp 30-YR 5.25% -2bp 3-MO 3.89% -3bp 6-MO 3.95% -5bp 1-YR 4.11% -5bp 2-YR 4.34% -5bp 3-YR 4.41% -4bp 5-YR 4.52% -2bp 7-YR 4.63% -3bp 10-YR 4.77% -2bp 20-YR 5.25% -2bp 30-YR 5.25% -2bp
US Treasury par yield curve · Sep 3 · Source: U.S. Treasury
Thursday, September 3, 2026
U.S. Edition
MONEY & WORLD
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Pay-to-play rule

SEC proposes ending two-year fee ban tied to advisers' political contributions

Money & World
The Editorial Team ·
A white marble column rising against a cloudy blue sky. Stock photo
Stock photo. Not the actual scene. Photo: Ata Ebem / Pexels

The Securities and Exchange Commission proposed rescinding the pay-to-play rule that has governed investment advisers since 2010.

Nothing changes yet.

Rule 206(4)-5 bars an adviser from providing compensated services to a government client for two years after the adviser or a covered associate makes a contribution to certain officials or candidates. The proposal would remove that rule in full and delete the related recordkeeping provisions.

The Commission says advisers would remain subject to federal antifraud and fiduciary duties, compliance policies, codes of ethics, and federal, state and local anticorruption laws. It says those requirements can address pay-to-play risk without the current formula.

Comments remain open for 60 days after Federal Register publication.

The document: Securities and Exchange Commission, Political Contributions by Certain Investment Advisers, September 3, 2026, IA-6994.

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