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Investors Urge Private-Equity Industry to Improve Transparency

Allianz SE, one of the world’s largest investors, wants private-equity firms to standardize how they report performance and fees, throwing its weight behind efforts to improve transparency and reduce the risk of fraud in the fast-growing $4.1 trillion industry.

Pennsylvania Treasury Donates Approximately $25,000 Worth of Unclaimed Property to Charity

Pennsylvania Treasurer Joe Torsella announced the recent donation of approximately $25,000 worth of physical property held in the Bureau of Unclaimed Property vault to Central Pennsylvania non-profits.

Treasurer Torsella Celebrates Fifth Anniversary of Federal Able Act

Treasurer Joe Torsella celebrated the fifth anniversary of the passage of the national Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE). This legislation, sponsored by Pennsylvania’s U.S. Senator Bob Casey, paved the way for states to create ABLE programs. ABLE programs give people with disabilities access to savings options, without impacting eligibility for essential federal benefits.

What is private equity and why are Pa. lawmakers concerned about the tens of millions of dollars of your money tied up in it?

Private equity has become a prime punching bag on the presidential campaign trail when candidates are talking income inequality or trying to score political points.

Every dollar in the Treasury comes from the hard work of Pennsylvania taxpayers. Pennsylvanians need to trust that their money will be managed with fairness and integrity, uncompromised by conflicts of interest, political affiliation, favoritism, or other unfair considerations. Under my administration, the days of needing to know someone to do business with Treasury will be over.

We can and should do much better.

Read Joe’s Transparency Proposal

See Contributions Made to the Campaign

“I’ll be the kind of commonsense problem solver Pennsylvania needs.”

– Joe Torsella

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Standardized metrics would make a huge difference in average investors’ ability to understand where their money goes, and to make informed decisions about how to manage it. wsj.com/articles/inves…

About a week ago from Joe Torsella's Twitter via Twitter Web App