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Administration February 25, 2011
SEC Looking into RI Bond Transactions
February 25, 2011 (PLANSPONSOR.com) - The Rhode Island General Treasurer's office says the U.S. Securities and Exchange Commission has asked for a list of all bond transactions from the state since 2007 that included disclosures about state retirement plans.
Reported by Rebecca Moore
According to the Associated Press, General Treasurer Gina Raimondo was told in January that the SEC is investigating the state’s bond offerings. A spokeswoman for Raimondo says the SEC asked for the list on Wednesday, and the office is pulling it together.
The AP said the SEC hasn’t commented on the probe, and Raimondo has said she doesn’t know what it’s focusing on.
The agency has launched an inquiry into public statements by Illinois officials (see SEC Probing Illinois Pension Accounting and Disclosures) about the state’s underfunded pension fund, and last August charged the State of New Jersey with securities fraud over pension accounting (see Running the Fund:Jersey Sure?).