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Public investors team up to clean up conflicts of interest. (News Briefs).(Brief Article)

Government Finance Review

| August 01, 2002 | COPYRIGHT 2002 Government Finance Officers Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Representatives of three of the country's largest public investors announced in July a new initiative to protect government funds and retirement assets from conflicts of interest at brokerage firms and investment banks. The New York and North Carolina public pension systems and the California Pooled Investment Account say they will not do business with firms that do not adopt the conflict-of-interest principles articulated in a May settlement between the State of New York and Merrill Lynch. Under the terms of the settlement, the brokerage giant agreed to pay $100 million in penalties after the state claimed that research analysts were giving favorable ratings to the ...

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Source: HighBeam Research, Public investors team up to clean up conflicts of interest. (News...

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