rule of professional conduct that would prohibit lawyers from making political contributions to obtain legal work.

The umbrella group for lawyers has been debating the issue for several years. It has previously condemned the practice and has been working to develop an advisory rule for members. Only states can issue binding rules.

In 1994 the Municipal Securities Rulemaking Board, a self-regulatory organization, adopted a rule prohibiting pay-to-play practices by municipal bond underwriting firms. Lawyers that represent such firms, however, are not covered by the rule.

The Securities and Exchange Commission, a staunch opponent of to pay-to-play practices, has pressed the American Bar Association to ban the practice among its members and has been working closely with authors of the proposed rule. The vote will take place Cheat the bar association's annual convention in Atlanta.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.