Mercer Investment Consulting officials confirmed the firm was subpoenaed by the Department of Labor, requesting information about its business.
"We promptly provided the DOL with an overview of our business model and activities and are fully cooperating with their examination," Charles Salmans, principal of Mercer global public relations, said in a statement. "The DOL has given us no indication that this information request is anything other than part of its routine regulatory oversight of our business as a provider of services to pension plans subject to the Employee Retirement Income Security Act, and we have no reason to believe otherwise," he added in the statement. Mr. Salmans declined to comment further. The DOL subpoenaed Mercer in January.
Gloria Della, Department of Labor spokeswoman, wasn't available for comment by press time.
