TYLER, Texas (AP) - University of Texas System regents say they
support abolishing an ethics rule regarding investments.
The regents meeting at UT-Tyler yesterday voiced support for
eliminating the rule but took no action. The regents plan to vote
on the proposal in July.
The University of Texas Investment Management Company handles
investments for the UT System and the Texas A&M University System.
The rule bans directors and staff members of the investment
group that handles money for public university systems from putting
their own money into the same private investments as the company.
The regents and UTIMCO officials acknowledge that the issue is
sensitive and expressed concern that a relaxation of ethics
standards would receive a negative public response.