(A) A lobbyist, as defined in Section 2-17-10(13), may not contact any member of the commission, the chief executive officer, chief investment officer, or staff member of the commission to solicit the investment of funds with a particular entity regardless of whether the lobbyist represents that entity.
(B) The commission may not make an investment with or invest in a fund managed by an external investment manager if a placement agent receives compensation as a result of the commission's investment. For purposes of this subsection, "placement agent" means an individual directly or indirectly hired, engaged, or retained by, or serving for the benefit of or on behalf of, an external manager or an investment fund managed by an external manager, and who acts or has acted for compensation as a finder, solicitor, marketer, consultant, broker, or other intermediary in connection with making an investment with or investing in a fund managed by the external investment manager.
(C) The commission may not invest in any asset or with any entity in which a commissioner or his immediate family has any interest. This subsection does not apply to publicly traded securities.
HISTORY: 2017 Act No. 13 (H.3726), Pt. III, Section 13, eff July 1, 2017.
Structure South Carolina Code of Laws
Chapter 16 - Retirement System Funds
Section 9-16-40. Standards for discharge of duty.
Section 9-16-90. Quarterly and annual investment reports; contents.
Section 9-16-100. Restrictions on lobbyists.
Section 9-16-335. Assumed annual rate of return.
Section 9-16-345. Minority and minority-owned business representation.
Section 9-16-360. Standards of conduct for fiduciary or employee of fiduciary.
Section 9-16-380. Audit of Retirement System Investment Commission.