January 8, 1992
TO: INVESTMENT ADVISERS COMMITTEE NO. 1-92
RE: FEBRUARY 6 HEARING ON CALIFORNIA FAIR POLITICAL PRACTICES
COMMISSION PROPOSALS
__________________________________________________________
As we previously informed you, the California Fair
Political Practices Commission, at a hearing last November,
deffered acting upon a proposed exemption for employees of
investment advisers to California public funds from the
disclosure provisions of the Political Reform Act until it had an
opportunity to further consider the matter. (See Memorandum to
Investment Advisers Committee No. 55-91, dated November 12,
1991). A meeting of the Commission to consider this exemption
has been scheduled for February 6, 1992.
Attached is a copy of the proposed regulations that will be
considered by the Commission. The proposals are virtually
identical to those that were before the Commission last November,
except that they now include sunset provisions which provide that
the exemption will expire on July 1, 1993 or upon legislative
amendment of the Political Reform Act, whichever occurs first.
Please provide me with any comments you have for possible
inclusion in the Institute's testimony on the proposed
regulations by January 24, 1992. My direct number is 202/955-
3523.
We will keep you informed of developments.
Amy B.R. Lancellotta
Associate General Counsel
Attachment