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Legal Update

SEC Joins State and Local Governments in Considering Regulations of Investment Adviser Activities Related to Government Funds

14 October 2009
Mayer Brown Legal Update
In response to investigations into alleged corrupt practices involving the use of placement agents with respect to public pension funds, retirement systems and other government fund entities, both the Illinois legislature and the New York State Comptroller took action in April of this year to restrict the use of placement agents.1 Over the last several months, state and local pension funds, retirement systems and other government fund entities (referred to herein as government funds) have followed suit by adopting various policies regulating the use of placement agents.


  • John A. Janicik
    T +1 312 701 7323
  • Joseph Seliga
    T +1 312 701 8818
  • Stephanie D. Wagner
    T +1 312 701 8475

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