The Securities and Exchange Commission has asked more than two dozen pension fund managers and financial firms for information concerning pension fund business dealings, the agency said.
"The SEC is interested in finders' fees and other payments, and the work done in exchange for those payments," said spokesman John Nester. He said the agency has sought information from pension fund managers, placement agents and other intermediaries. Placement agents are middlemen who earn finders' fees by helping investment firms secure pension fund business. Goldman Sachs, Credit Suisse, UBS and Bank of America Merrill Lynch are among firms that have been contacted by the commission, according to people familiar with the matter.