NOW, THEREFORE BE IT RESOLVED, The National Association of State Treasurers recommends that public retirement funds and private equity partners develop strategies that allow public funds to collect and reflect the actual cost of investing, including all private equity fees and expenses.
BE IT FURTHER RESOLVED, To achieve increased transparency between public retirement funds and private equity partners, the National Association of State Treasurers endorses the use of the Institutional Limited Partners Association’s Fee Reporting Template.
NOW, THEREFORE BE IT RESOLVED, that the National Association of State Treasurers urges the Municipal Securities Rulemaking Board to continue to include state treasurers on the Board in order to make sure the governmental community is appropriately represented on the Board.
In summary, the SEC’s proposed rule changes would be detrimental to competition, efficiency, and capital formation for our members as well as cities, counties, and other municipal entities. We do not believe additional changes to money fund regulation are needed at this time. If further changes are adopted, however, we urge the Commission to (a) include a comment that it is not the SEC’s intent to promulgate changes to LGIPs, and (b) create an exemption for municipal money funds equivalent to that established for U.S. Government MMFs under the proposal. As State Treasurers concerned about the financial strength and integrity of states and all governmental units within our states, we appreciate this opportunity to offer our views on this matter.
NAST Appointed to Congressional Task Force on Intergovernmental Affairs https://goo.gl/do8ZYR