April 18, 1991
TO: INVESTMENT ADVISERS COMMITTEE NO. 17-91
RE: INSTITUTE SUPPORTS CALIFORNIA FAIR POLITICAL PRACTICES
COMMISSION PROPOSALS
__________________________________________________________
As we previously informed you, the California Fair
Political Practices Commission staff proposed an exemption for
employees of investment advisers to California public funds from
the disclosure provisions of the Fair Political Practices Act.
(See Institute Memorandum to Pension Committee No. 15-91, dated
April 9, 1991.) The Institute is pleased that the Commission
staff appears to have finally accepted our recommendations for
exemption for our members.
Attached is a copy of the Institute's letter in support of
the new proposal. We will keep you informed of further
developments.
W. Richard Mason
Assistant Counsel
Attachment