| Advisory opinion request as to whether the Code of Governmental Ethics would prohibit a member of the District Attorneys' Retirement System (DARS) Board of Trustees from entering into a contract for personal investment services with a provider that currently has a contractual relationship with DARS. |
|
|
Per Stirling, an investment management firm, currently has a contractual relationship with DARS to have John Vann, a financial advisor with Per Stirling, provide investment management services. A member of the Board of Trustees for DARS is considering contracting with Per Stirling to have John Vann act as his personal financial advisor.
|
|
La. R.S. 42:1112B(5) provides that no public servant shall participate in a transaction involving the governmental entity in which, to his actual knowledge, any person who is a party to an existing contract with such public servant and who by reason thereof is in a position to affect directly the economic interests of such public servant, has a substantial economic interest.
La. R.S. 11:183A provides that any member of a state or statewide retirement system board of trustees who does not hold an office by virtue of an election conducted pursuant to the Louisiana Election Code shall be deemed a public employee for purposes of compliance with Chapter 15 of Title 42 of the Louisiana Revised Statutes of 1950.
La. R.S. 42:1115 provides that no public servant shall solicit or accept, directly or indirectly, any thing of economic value as a gift or gratuity from any person or from any officer, director, agent, or employee of such person, if such public servant knows or reasonably should know that such person has or is seeking to obtain contractual or other business or financial relationships with the public servant's agency.
|
|
|
Adopt the proposed advisory opinion.
|
|
| Assigned Attorney: |
Jennifer Land |
|
|