SANTA FE, N.M. (AP) — Financial settlements between a state investment board and private money management firms can continue to be subject to some limits on public disclosure under guidelines newly approved by the agency, an open government advocacy group said Tuesday.
The State Investment Council agreed to the policy for handling settlements as part of its continuing investigation and litigation over an alleged pay-to-play scheme involving state investment deals during former Gov. Bill Richardson’s administration.
The policy says the council “strongly disfavors” confidentiality provisions in settlements and it requires that all settlements be subject to the Inspection of Public Records Act, which will allow the public to request and obtain a copy.
Gwyneth Doland, executive director of the Mexico Foundation for Open Government, had wanted the council to prohibit confidentiality provisions that permit any restrictions on public disclosure.
“We’re disappointed and we think this sends the wrong message on transparency and Login to read more