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Univ. of Toledo College of Law

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Tuesday, May 19, 2009

New York AG's Statement on Code of Conduct for Pension Fund Industry

STATEMENT FROM ATTORNEY GENERAL ANDREW CUOMO ON COMPTROLLER THOMPSON'S DECISION TO URGE NYC PENSION FUNDS TO ADOPT REFORM CODE OF CONDUCT
"I commend Comptroller Bill Thompson for his quick and decisive action in asking that the City pension funds adopt the principles in the Code of Conduct we have developed in our pension fund investigation. The public pension fund industry is badly in need of reform and it is high time we ended pay to play. I appreciate Comptroller Thompson's commitment to doing his part to promote needed reforms like banning the use of placement agents and eliminating campaign contributions to those who make or influence pension fund investment decisions. My hope is that our Code of Conduct will become a model for reform and Comptroller Thompson's action is yet another step in that direction."

http://lawprofessors.typepad.com/securities/2009/05/new-york-ags-statement-on-code-of-conduct-for-pension-fund-industry.html

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