Delray Beach (Fla.) Police and Fire Pension Board received a notice from the SEC to provide records, communications and other information regarding Smith Barney, the $110 million fund's former investment consultant, said Charles Jeroloman, chairman of the pension board of trustees. The SEC didn't state why it wanted the records, Mr. Jeroloman said. "I think they are looking into the whole situation of conflicts of interest with consultants and brokerage being tied together," Mr. Jeroloman said, adding that the pension board will fully comply with the SEC request.
Alexander Samuelson, Smith Barney spokesman, said Smith Barney officials declined to comment. John D. Heine, SEC spokesman, said the SEC officials won't confirm or deny such inquiries.
The pension board has been investigating Smith Barney's consulting work since 2005, an evaluation that is still pending, Mr. Jeroloman said. Smith Barney resigned as the board's consultant last August. Bogdahn Consulting was hired as consultant earlier this month.