On November 29, 2011, law firm Venable LLP hosted a webinar entitled “Best Practices for Investment Advisers to Avoid Violating Pay-to-Play Regulations (Webinar).”  The purpose of the event, which was hosted by Venable attorneys Ron Jacobs and Scott Gluck, was to help hedge fund managers navigate the various federal, state and municipal restrictions on political contributions by hedge fund managers that solicit government investors.  The Webinar included ideas previously discussed by Gluck in the Hedge Fund Law Report.  See “How Can Hedge Fund Managers Participate in the Political Process without Violating Pay to Play Regulations at the Federal, State, Municipal or Fund Level?,” Hedge Fund Law Report, Vol. 4, No. 35 (Oct. 6, 2011).  This article summarizes the points made during the Webinar with most direct relevance to hedge fund managers, including what the relevant regulations are, how they are applied and how they intersect.  This article also relates five best practices for avoiding violations of relevant regulations, as described by Gluck and Jacobs during the Webinar.