Florida State Board of Administration , Tallahassee, adopted stringent...

Florida State Board of Administration, Tallahassee, adopted stringent disclosure and investment policy procedures for all money managers and broker/dealers who want to do business with the board, which has $85 billion in pension assets. Effective immediately, financial institutions doing business with the board must adopt policies that mirror the terms of the May 21 agreement between Merrill Lynch and Eliot Spitzer, New York state attorney general. Coleman Stipanovich, executive director, said the board contacted its existing money managers and that he expects them to comply. "It is unlikely we will make any exceptions,” he said.