9.4.16.3 Look-Back Provision
The “pay to play” rule contains a look-back provision which requires advisers to look back when determining whether a covered associate has triggered the ban on advisory business.
A contribution will trigger the ban if it was made within:
• Two years prior to the date the individual became a covered associate, in the case of covered associates who solicit clients for the adviser
or
• Six months prior to the date the individual became a covered associate, in the case of covered as