Navigating campaign finance can be dangerous for candidates – Financial Services

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One of the most difficult aspects of running for office is navigating campaign finance laws. One mistake can ruin a campaign and ruin a reputation.

Whether it’s a federal, state, or local campaign, chances are the opposition, the media, or a public watchdog will scrutinize campaign finance reports. In the past few months alone, dozens of allegations of missteps have been raised across the country:

New York Campaign Finance Act

In New York, each election season requires candidates to navigate complex sets of election laws and deal with entities such as the Federal Election Commission, the New York State Board of Elections and the Board of Finance of the New York City campaign, as well as New York county boards. elections. Maintaining compliance with these laws is a daunting task, even for seasoned applicants.

New York City offers a unique high-stakes challenge. The city is providing matching funds to city candidates — a record $127 million in the 2021 election season. It’s an added incentive to stay compliant.

In an age of acrimonious and highly partisan politics, campaign finance is a high-stakes arena where huge sums of money change hands. A successful campaign must avoid the public allegations, steep fines, and contentious litigation that can result from financial missteps. One way for candidates to avoid breaking strict laws is to consult with trusted, seasoned election attorneys experienced in navigating the maze of federal, state, and local campaign finance laws.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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