DiNapoli Bans Campaign Contributors From Pension Deals

Submitted by Melissa Hoffmann on Tue, 09/29/2009 - 12:41

New York State Comptroller Thomas P. DiNapoli announced a ban on pay-to-play practices related to the $116.5 billion New York State Common Retirement Fund by issuing an executive order that prohibits it from doing business with any investment adviser who has made a political contribution to the state comptroller or a candidate for the position. The ban, which closely parallels proposed Securities and Exchange Commission (SEC) regulations, will last for two years.

Bookmark/Search this post with:

The New York State Society of Certified Public Accountants (NYSSCPA) encourages you to add a comment to this discussion.  You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law.  Please note that NYSSCPA reviews all comments prior to posting. NYSSCPA may edit comments for clarity or to keep out questionable or off-topic material.  All comments should be relevant to the post and remain respectful of other authors. To view the full “NYSSCPA Blog Terms and Conditions,” click here.