New York Attorney General Eliot Spitzer this week served Morningstar Associates with a subpoena for documents related to the mutual fund research firm’s consulting services for retirement plan providers, CBS MarktWatch reports.

Morningstar officials confirmed Spitzer’s request but declined to comment on whether the pending investigation will target other retirement plan consultants. A senior company official did concede Spitzer’s investigation may probe contacts with retirement plan providers and plan sponsors.

In recent years, Morningstar rolled out a service recommending mutual funds to retirement plan providers. Morningstar had a previous brush with regulators in September when the Securities and Exchange Commission investigated reports of incorrect mutual fund performance data posted on its Web site.

__
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.