Introduced
by
To require investment fiduciaries (portfolio managers or advisors) that do business with state pension or other state funds to disclose annually the compensation of portfolio managers and analysts; disclose potential conflicts of interest between clients and the investment fiduciary’s corporate parents; and disclose whether the investment fiduciary’s broker-dealers have adopted conflict of interest principles, including: no link between analyst compensation and investment banking, no investment bank input into analyst’s compensation, all research recommendations reviewed and approved by an independent review committee, and compliance with the above ensured by an independent monitor.
Referred to the Committee on Appropriations
