- Associated Press - Sunday, November 8, 2015

ALBUQUERQUE, N.M. (AP) - A broker accused of breaching its duties and contributing to an investment crisis at the Bernalillo County treasurer’s office has settled the allegations.

The Albuquerque Journal reported (https://bit.ly/1MQQIBI) Sunday that state officials say Oppenheimer & Co., Inc. will pay $215,000 as well as change its internal policies for investing public money.

The state auditor released a special review in November 2014 that detailed risky investments by the county treasurer’s office.

The state Securities Division proposed banning Oppenheimer and another broker from trading securities in New Mexico.

The county was forced to sell investments at a $17 million loss last year to restructure its portfolio and gain liquidity.

Securities Division Director Alexis Lotero says the department is pleased that the investigation means more oversight for investment.


Information from: Albuquerque Journal, https://www.abqjournal.com

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