New England Pension Consultants was cleared by the SEC as part of the agency's extensive investigation into pay-to-play and other investment consultant practices, according to a statement by the firm and an SEC letter on the consulting firm's website.
"(N)o deficiencies or violations came to our attention during the course of our examination," said Louis P. Becka, assistant director, SEC office of investment company/investment adviser examinations and oversight, in a letter to Richard M. Charlton, NEPC chairman and CEO.
The "SEC advised NEPC that its investigation of our firm has concluded," the statement said.
Beginning in late 2003, the SEC began examining consulting firms over possible conflicts of interest in advising pension sponsors. "As one of the larger independent consulting firms in the industry, NEPC participated in this review," the statement said.
Mr. Charlton declined to comment beyond the firm's statement.
Lori A. Richards, director, SEC's office of compliance inspections and examinations, which is leading the examinations, couldn't be reached for comment.
