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Securities monitoring firm outlines fiduciary framework, PortfolioWatch and $500,000 litigation threshold
Summary
Bernstein Litowitz partner Anya Friedman briefed the board on securities monitoring, portfolio surveillance tools and criteria that guide when a public pension plan should lead or join litigation; the firm said monitoring services are provided at no out‑of‑pocket cost under the current arrangement.
Anya Friedman, partner at Bernstein, Litowitz, Berger & Grossman, presented an educational briefing on securities portfolio monitoring and litigation at the Imperial County Board of Retirement meeting on April 16.
Friedman described the firm’s monitoring program, including a proprietary platform called PortfolioWatch, a team of in‑house investigators and a process for coordinating with the plan’s custodian to identify losses. She said the board’s existing securities litigation policy — which sets a $500,000 threshold for considering active litigation — guides whether the plan should remain a passive class member, seek…
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