• SEC Releases Staff Report On Examinations of Pension Consultants
  • May 24, 2005
  • Law Firm: Reed Smith LLP - Pittsburgh Office
  • On May 16, 2005, the SEC's Office of Compliance Inspections and Examinations (OCIE) issued a "Staff Report Concerning Examinations of Select Pension Consultants." OCIE conducted "focused examinations" of 24 pension consultants who are registered investment advisers, "To explore the risk areas relating to pension consulting." Among the areas of concern are the independence of the advice that pension consultants provide, in light of the fact that many pension consulting firms provide services both to pension plans who are their advisory clients and to money managers.