Placement Agent Bill Advances

Assemblymember Hernandez introduced AB 1743  to require placement agents for funds and fund managers seeking business with California's public retirement system to register as lobbyists.  The bill continues to progress through the legislature.  On Monday, it passed out of theCalifornia Senate Appropriations Commitee on a 8-0 vote according to the unofficial ballot.  This is good news for the bill's sponsors because it will require a 2/3 vote on the Senate floor.  As I expected, the author offered some amendments that will be incorporated into the bill but they have yet to appear in print.