This week, to continue the LRANY video series, we bring you a video on funding political campaigns with recovery’s from the ‘Martin Act’. The Martin Act, established in Albany in 1921, grants the Attorney General broad powers to investigate and pursue alleged wrongdoing associated with the purchase and sale of securities. It is one of the toughest securities laws in the nation as these powers of the AG are so extraordinary that this act does not require any elements of proof.
Recent actions in our legislature look to using funds retrieved from prosecutions under the ‘Martin Act’ to fund political campaigns. This dangerous regulation would creates a clear conflict of interest incentivizing filing lawsuits to collect election funds.