- Associated Press - Friday, May 20, 2016

RALEIGH, N.C. (AP) - North Carolina Treasurer Janet Cowell says she’s doing nothing wrong by joining two corporate boards.

The News & Observer of Raleigh reported (https://bit.ly/1YICVyI ) Cowell said she would not have agreed to serve on the boards if the State Ethics Commission had not approved.

She’s not seeking re-election.

Cowell says there’s no conflict of interest with board service while completing her term as treasurer.

Critics say there are possibilities for conflicts since she’s responsible for the state’s nearly $87 billion pension fund.

The State Employees Association of North Carolina has called on Cowell to either quit as treasurer or step down from the boards.

Cowell is joining the boards of the Morrisville e-commerce technology company ChannelAdvisor and James River Group Holdings, a Bermuda insurer with a U.S. headquarters in Raleigh.

The state pension fund does not and has not had holdings in either company.

Cowell says her office has no regulatory role in either of the companies’ industries. She said would not take part in any action if issues regarding the companies come to the treasurer’s office before she leaves at the end of the year.

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Information from: The News & Observer, https://www.newsobserver.com

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