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ARTICLE · 12 MARCH 2008
SEC Warns Public Pension Funds About Inadequate Compliance Procedures
Goodwin Procter LLP
The SEC issued a formal report discussing an insider trading investigation of an internally managed state pension fund conducted by its Division of Enforcement. The pension plan had purchased shares of a company after entering into negotiations with a second company to finance the second company’s acquisition of the first company; the purchases of the target company’s stock took place prior to any public announcement of the proposed acquisition.
United StatesFinance and Banking
