New York Comptroller Bans Use of State Pension Fund Brokers
By Michael Weiss
April 22 (Bloomberg) -- State Comptroller Thomas DiNapoli said he has banned the use of placement agents, paid ntermediaries and lobbyists in investments with the New York State Common Retirement Fund, the nations third-largest such system.
The New York comptroller is the sole trustee of the pension. DiNapoli also announced a review of the pensions investments. He said he hired Day Pitney LLP to assist in the effort.
The comptroller made the announcement in a news release issued from Albany.
