Illinois HB0727 amends the Illinois Pension Code to prohibit certain investment transactions by fiduciaries.
Illinois HB0727 amends the Illinois Pension Code to prohibit fiduciaries from engaging in investment transactions when they have a direct interest in the income, gains, or profits of the investment adviser. This includes situations where the fiduciary has a business relationship with the adviser that could result in a pecuniary benefit. Violation of this provision is a Class 4 felony.
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