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California Commission to Investigate Complaints Linked to CalPERS

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California’s Fair Political Practices Commission will investigate complaints regarding Yu Ben Meng, former investment that is chief of CalPERS, the biggest public U.S. retirement fund.

The commission, in a page dated Aug. 11, notified Meng’s lawyer that the agency had gotten complaints that are anonymous which it said was centered on a news article. It attached a Financial Times article regarding Meng’s investments and his disclosure of those and stated it would investigate all allegations.

The commission, however, included it had not made any dedication about Meng’s culpability.

Meng resigned from his place at California Public Employees’ Retirement System (CalPERS) early in the day this, saying he needed to consider his health and family thirty days.

A week ago, California State Controller Betty Yee had needed the board of CalPERS to introduce an inquiry to the abrupt exit of its investment that is chief officer.

Meng has twice worked for CalPERS, the full time that is first in 2008 and the second time beginning in January 2019 whenever he became CIO, based on the investment’s website.

In between the CalPERS stints, he worked for 36 months as deputy CIO with China’s State Administration of Foreign Exchange (SAFE), which oversees China’s U.S. Treasury security holdings.

Meng’s resignation came amid pressure from the Trump administration to control assets in China.

CalPERS and Meng’s lawyer did not immediately respond to request for comment while the Fair Political methods Commission said it did maybe not touch upon complaints or investigations which are available.

The Wall Street Journal reported news of the investigation earlier on Monday. California’s Fair Political Practices Commission will investigate complaints.

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Dayanira Munoz

With experience in the finance industry exceeding 7 years, Dayanira’s impressive CV includes key positions at leading companies such as Merrill Lynch, Credit Suisse, and Morgan Stanley. She has held a wide range of key roles across research, sales, and trading, and has worked with both retail and institutional clients. Over her blossoming career, Dayanira has gained extensive exposure to equities, the Forex, and fixed income markets, putting her in a unique position. This varied and specialized experience allows her to provide expert insights, suggestions, and risk-management strategies for colleagues and clients. Previously, Dayanira graduated in Applied Finance at the University of Barcelona and is currently studying for her Master’s degree.

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