WASHINGTON -- A federal appeals court refused Friday to temporarily suspend the centerpiece provision of the Municipal Securities Rulemaking Board's "pay to play" political contributions rule.

The U.S. Court of Appeals for the District of Columbia rejected a motion by Alabama bond dealer William B. Blount for an "emergency stay" of the provision in Rule G-37 that bars municipal dealers from doing business with state and local governments for two years if the dealer, its political action committee, or its bond professionals contribute to an officeholder who can influence the awarding of bond business.

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