Two L.A. pension board member quit

Two members of the city's Fire and Police Pension Commission resigned Thursday as the panel voted to sever its relationship with a Dallas-based firm accused of fraud by the SEC. Daily News.

The board that oversees the $10.7 billion pension fund for 13,199 pensioners voted 7-0 to terminate its $1 million-a-year contract with Aldus Equity Partners. The money-management company is at the center of a complex federal investigation into kickbacks involving the New York state pension fund.