US - US regulatory agencies are not adequately enforcing the disclosure of investment consultants' conflicts of interest, a situation exacerbated by a combination of outdated laws, poor formal coordination between agencies and insufficient investigative resources, according to a government report.
As a result of using consultants with undisclosed conflicts of interest, pension funds could have suffered returns up to 1.4% lower, the Government Accountability Office (GAO) concluded. The repo...
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