840 CMR, § 27.04
Current through Register 1536, December 6, 2024
After having conducted an investigation and hearing pursuant to M.G.L. c. 32, § 23(4) and 840 CMR 27.02 and making such findings of fact as are warranted by the evidence collected during the course of such investigation and hearing, the Commission may order the subject retirement board to take or desist from taking any action that in its judgment is necessary to preserve the integrity of the system. No such order shall obtain unless the Commission may reasonably conclude from such findings of fact that the investment or recordkeeping practices of the retirement board are not being conducted with reasonable care, skill, prudence or diligence. Violation of such order shall be punished as provided for in M.G.L. c. 32, § 24.
840 CMR, § 27.04