{"id":4318,"date":"2009-03-06T13:12:00","date_gmt":"2009-03-06T19:12:00","guid":{"rendered":"http:\/\/www.nmpolitics.net\/index\/2009\/03\/bill-seeks-more-disclosure-from-investment-firms\/"},"modified":"2009-03-06T13:12:00","modified_gmt":"2009-03-06T19:12:00","slug":"bill-seeks-more-disclosure-from-investment-firms","status":"publish","type":"post","link":"https:\/\/nmpolitics.net\/index\/2009\/03\/bill-seeks-more-disclosure-from-investment-firms\/","title":{"rendered":"Bill seeks more disclosure from investment firms"},"content":{"rendered":"

\"\"<\/a>A bill that would require additional disclosure from investment firms seeking to do business with the state has cleared the House and is awaiting a hearing in a Senate committee.<\/p>\n

<\/o:p><\/p>\n

In light of the pay-to-play allegations dogging the Richardson administration — which, in the federal grand jury investigation<\/a> and the separate lawsuit brought by Frank Foy<\/a>, have to do with state investments — the bill seems especially relevant.<\/p>\n

<\/o:p><\/p>\n

House Bill 876<\/a>, sponsored by Miguel P. Garcia<\/a>, D-Albuquerque, would require companies seeking contracts with the state that deal with alternative investments — those other than stocks and bonds \u2013 to disclose the employment of any third-party marketers it\u2019s employing to help secure the contract, including public relations firms and lobbyists.<\/p>\n

<\/o:p><\/p>\n

\"\"<\/a>If the bill is enacted, the relevant agencies — the State Investment Council<\/a>, Educational Retirement Board<\/a> and Public Employees Retirement Association<\/a> — will be required to pass on those disclosures in reports they make publicly several times a year, and also annually to the appropriate legislative oversight committee.<\/p>\n

<\/o:p><\/p>\n

With the current scrutiny of campaign contributions from the firms at the center of the pay-to-play allegations against the Richardson administration, the disclosure of any additional information about who is helping those firms would seem to make it easier for the public to understand the money involved. Currently, no such disclosures are required in state law.<\/p>\n

<\/o:p><\/p>\n

The bill has unanimously passed the House. It\u2019s awaiting a hearing in the Senate Judiciary Committee<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

A bill that would require additional disclosure from investment firms seeking to do business with the state has cleared the House and is awaiting a hearing in a Senate committee. In light of the pay-to-play allegations dogging the Richardson administration — which, in the federal grand jury investigation and the separate lawsuit brought by Frank […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4318","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/4318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/comments?post=4318"}],"version-history":[{"count":0,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/4318\/revisions"}],"wp:attachment":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/media?parent=4318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/categories?post=4318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/tags?post=4318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}