Placement firm Wetherly Capital Group signed a settlement agreement with New York Attorney General Andrew Cuomo today in connection with fees it made from helping money managers win business from the New York State Common Retirement Fund, the now $126 billion pension plan, between 2002 and 2006.

The settlement is part of the New York attorney general’s pay-to-pay investigation, which has focused on allegations that some money managers or their advisers paid kickbacks in order to win the lucrative business of the state fund when it was under the watch of then New York State Comptroller Alan....

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