CA AB1743

Amends the definition of "placement agent" to include persons hired by external managers to act as finders, solicitors, marketers, consultants, brokers, or intermediaries in connection with offering or selling securities or services to public retirement systems for compensation.

Requires placement agents acting on behalf of state public retirement systems to register as lobbyists and comply with the Political Reform Act of 1974, including prohibitions on contingency-based payments.

Requires placement agents acting on behalf of local public retirement systems to file applicable reports with local government agencies that regulate lobbyists.

Expands the definition of "administrative action" under the Political Reform Act to include decisions by state agencies to enter into contracts to invest state public retirement system assets.

Requires the Public Employees' Retirement System and State Teachers' Retirement System to report to the Legislature by August 1, 2012, on their use of placement agents, including investment performance and external manager descriptions.