MS HB1067

Requires the Department of Finance and Administration to develop and publish by December 31, 2021, a list of companies engaged in fraudulent financial activities, including fraudulent accounting practices, embezzlement, falsification of documents, or activities beyond Public Company Accounting Oversight Board regulation

Prohibits the State Treasurer and Public Employees' Retirement System from investing state funds in companies on the fraudulent activities list, with existing investments required to be divested within 120 days of the list being posted

Mandates 90 days written notice to companies before adding them to the list, informing them of their ineligibility for state investment

Allows exceptions for investments in listed companies on a case-by-case basis if the investor determines the investment is necessary to perform its functions

Provides indemnification from the State General Fund for board members, officers, employees, and agents of PERS, DFA, and the State Treasurer's office for any claims arising from investment decisions made under this act