SEC Letters Outline “Informal Inquiry” into California Pension Deals

Pro Publica reports:

The Securities and Exchange Commission is seeking detailed financial information from two members of the Los Angeles Fire and Police Pensions board, according to letters obtained by the Los Angeles Times in a joint investigation [1] with ProPublica.

The letters to board members Sean Harrigan and Elliott Broidy ask for bank and brokerage account details, any finder's fees or placement agent fees, and documents "sufficient to identify all source of income greater than $10,000" received since the beginning of 2005.

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