Connect with us
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


Lowe Enterprises in Possible Violation of SEC “Pay-to-Play” Rule 206(4)-5, Says UNITE HERE Local 11


UNITE HERE Local 11 has submitted a letter asking the Securities and Exchange Commission to investigate whether Lowe Enterprises Investment Management, LLC, violated the Commissions pay-to-play Rule 206(4)-5.

Lowe Enterprises Investment Management, LLC, is a subsidiary of Los Angeles-based real estate firm Lowe Enterprises. Between December 2015 and April 2016, Lowe Enterprises CEO Robert Lowe gave a total of $35,700 to Kasich for America, Ohio Governor John Kasichs presidential campaign committee, and New Day for America, a Super PAC supporting Mr. Kasich.1 New Day for America began as a nonprofit that Mr. Kasich and his supporters used pay for campaign travel expenses and was converted into a Super PAC in mid-2015 when Mr. Kasich formally announced his candidacy for President. New Day for America was staffed by close associates of Mr. Kasich.2

As Governor of Ohio, Mr. Kasich has the authority to appoint members to the Board of Trustees of the Ohio Public Employees Retirement System (OPERS). Lowe Enterprises has had a long-term investment relationship with OPERS. Over more than 20 years, Lowe Enterprises has invested in excess of $1 billion on behalf of the retirement system, and the firm continued to actively manage OPERS investments in August 2016, just four months after Mr. Lowes final contribution to New Day for America.3

Under Rule 206(4)-5, Mr. Lowes contributions to Kasich for America and New Day for America should have triggered a two-year time-out on Lowe Enterprises ability to provide advisory services for compensation to OPERS, says UNITE HERE Local 11.

The letter to the SEC can be viewed here.

UNITE HERE Local 11 is a hospitality workers union in Los Angeles and Arizona.

1 Campaign contributions drawn from Federal Elections Committee disclosures. 2 Jessica Wehrman, New Day for America becoming John Kasichs Super PAC, Columbus Dispatch (July 24, 2015). Accessed at: 3 Jon Peterson, Ohio PERS Over-Allocated to Real Estate, Limits New Investments, IPE Real Assets (August 23, 2016). Accessed at: See also, Lowe Enterprises Response to City of Redondo Beach Waterfront Development Opportunity and Request for Vision and Approach, p. 39. Accessed at:

Samir Sonti, 213-481-8530, ext. 120

Editorial & Advertiser disclosure

Call for Entries

Global Banking and Finance Review Awards Nominations 2022
2022 Awards now open. Click Here to Nominate

Newsletters with Secrets & Analysis. Subscribe Now


Global Banking & Finance Review® is a leading financial portal and Print Magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management. Copyright © 2010-2021 GBAF Publications Ltd - All Rights Reserved.