General Treasurer Gina Raimondo with Governor Lincoln Chafee. WPRO File Photo.
WPRO Newsroom and The Associated Press
PROVIDENCE, R.I. (AP) – Federal financial regulators have ended their investigation of Rhode Island's public pension system.
State General Treasurer Gina Raimondo announced Tuesday that the Securities and Exchange Commission has completed its review of the pension system's financial disclosures and will not seek any corrective action against the state.
The investigation began in 2011 and focused on the state's disclosures to potential pension investors going back to 2007.
Raimondo, a Democrat, says the end of the investigation removes "any cloud that lingered" over the pension system.
A message was left with the SEC's Boston regional office. The investigation of the state's pension system was part of a larger effort by the SEC to review the financial disclosures in several cities and towns.
