Regulation
Aon Agrees to $1.5M Settlement With SEC Over Pennsylvania Pension Data
The penalty is related to misleading statements the adviser made to the Pennsylvania Public School Employees’ Retirement System.
The $72 billion pension fund aims to reduce risk by cutting back its allocations to private markets and absolute return.
The pension fund accuses Aon of breach of contract, breach of fiduciary duty and negligence.
The public pension funds join a growing number of institutional investors pulling their money out of Russia.
The regulator is also seeking information on a financial misstatement from 2020 that triggered a contribution increase.