The SEC hopes to complete its investigation of ``pay to play'' practices among investment advisers for public pension plans by the end of the first quarter of 1999, and issue a proposal later this spring, Robert E. Plaze, associate director of the securities regulator's investment management division, said yesterday. Mr. Plaze, speaking at a Washington conference of the National Conference on Public Employee Retirement Systems, said the agency is examining public records that might shed light on these practices in 12 of the country's largest states.
The SEC hopes to complete its investigation of ``pay to play''...
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