Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Spitzer Looks Into Morningstar 401k Picking Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, December 16, 2004

Spitzer Looks Into Morningstar 401k Picking

by: Sean Hanna, Editor in Chief

Eliot Spitzer's office is seeking information from Morningstar about how it decides which funds to recommends to retirement plan sponsors. The Chicago-based company released word of the investigation in a press release Wednesday afternoon.

Joe Mansueto, chairman and chief executive officer of Morningstar, said in the release that the New York attorney general hit the firm with a subpoena on Monday, December 13. The subpoena sought information and documents from the company related to an investigation Spitzer's office is conducting.

"While the request is very broad, it specifically asks for information about the investment consulting services we offer to retirement plan providers, including fund lineup recommendations for retirement plan sponsors," elaborated Mansueto.

He added that Morningstar "will cooperate fully with Mr. Spitzer's office and work diligently to provide his staff with information that will assist them with their investigation."

"We understand the importance of protecting investors' interests, and we have always been committed to managing our business with integrity, openness, and honesty," Mansueto concluded.

Morningstar provides due diligence services for plan sponsors putting together fund lineups for 401(k) plans through a number of plan providers, including New York Life and ING.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use