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Investment Adviser › Public Pension

Jones Day

Pennsylvania Pension Review Commission Recommends Overhaul To Public Plans' Investments And Structure

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The Situation: The Pennsylvania Legislature passed Act 5 in 2017, which, among other things, created the Pennsylvania Public Pension Management and Asset Investment Review Commission ("Commission"). The Commission was...more

Jones Day

Pennsylvania’s Commission Continues to Probe the Value of Active Management

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Pennsylvania's Commission was told at the September hearing regarding the PSERS and SERS probe that $3.8 billion in investment fees have gone unreported. The Commission in Pennsylvania that has been focusing on the...more

Jones Day

Pennsylvania's Imminent Report on Investment Fees: What's Coming Next?

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The schedule for review of the investment strategies of the Public Employees' Retirement System and School Employees' Retirement System just became accelerated. At its hearing on July 30, 2018, Pennsylvania's...more

Jones Day

PSERS Takes Action to Reduce Fees Paid to External Investment Managers

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This development represents just one aspect of the ongoing debate over active versus passive asset management. Earlier this month, Pennsylvania's largest public pension fund, the Public School Employees' Retirement System...more

Sullivan & Worcester

Asset Managers: Are You Ready for Your Exam? Steps You Should Take Now

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Last week we told you about the five biggest pet peeves of the SEC’s Office of Compliance Inspections and Examinations (OCIE) when examining investment advisers. This week, we want to get you ready for your exam. Here are the...more

Proskauer - The Capital Commitment

SEC Speaks: 2017 Enforcement and Exam Trends for Private Funds

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At the recent SEC Speaks program, sponsored by PLI, senior SEC staff members provided valuable insight into the SEC’s 2017 priorities for private funds. While the tenor of this year’s discussion seemed to focus more on...more

Proskauer Rose LLP

New California Law Requires Increased Private Fund Fee and Expense Disclosure

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Recent state legislative developments in California will require disclosure of certain information by private investment fund managers, primarily in the area of fees and expenses incurred by state and local pension and...more

Proskauer Rose LLP

Private Fund Advisers Must Pay Close Attention to Nuances under Pay-to-Play Restrictions in Light of Upcoming Elections Nationwide

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As the elections approach nationwide, advisers to private investment funds with current or prospective state or local government entity investors should be mindful of political activities by their personnel which could raise...more

Allen Matkins

California’s New “Thermal Coal” Divestment Law Forces Fiduciary Duty Question

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Public pension funds exist to provide retirement benefits to public employees.  Cal. Const. Art. XVI, § 17(a).  In 1992, the voters of California tried to eliminate political interference with the state’s retirement funds by...more

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