Teacher Pensions at Risk? SEC Launches Investigation

Earlier this year, Jay Clayton, the Chairman of the SEC, expressed concern about the prevalence of high-cost investment products in schoolteachers’ retirement accounts. Now the SEC has sent “letters” to companies that administer retirement plans for teachers and other government workers, according to the Wall Street Journal. The WSJ is not clear what it is referring to as a “letter” but clearly the SEC is opening a probe of practices in a market that consumer advocates contend is subject to abuse.

The SEC does not represent individual investors, and the best way to recover losses is to retain private counsel, who typically represent investors on a contingency basis, where no fees are owed unless there is a recovery.

Either way, as an investor or a fund administrator, you should consult with experienced securities counsel. If you wish to do so, you can call Sallah Astarita & Cox, LLC at 212-509-6544

from The Securities Law Home Page – SECLaw.com