WASHINGTON (Reuters) - Bill Ackman's Pershing Square (NYSE:SQ) Capital Management was one of 10 investment advisory firms on Tuesday to get hit by civil "pay-to-play" charges, after allegedly receiving compensation from pension funds within two years of making political contributions, U.S. regulators said.
The Securities and Exchange Commission said that Pershing and the other nine firms agreed to settle the charges by paying penalties ranging from $35,000 to $100,000. All of the firms settled without admitting or denying the charges.