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Broker probe freezes slice of IPERS's assets
By WILLIAM PETROSKI • email@example.com • February 24, 2009
Officials of Iowa's largest public employee pension fund said Monday that $339 million of its assets are frozen in a federal investigation of the business practices of an investment broker-dealer affiliated with one of its asset managers.
The Iowa Public Employees' Retirement System, which has about 312,000 members, said it has terminated its investment contract with Westridge Capital Management of Santa Barbara, Calif.
The National Futures Association, an organization that regulates its own members, said it had suspended the trading capabilities of two people who are principals in both Westridge Capital Management and WG Trading, a registered broker-dealer...