ALAMEDA, Calif. — A major newspaper is reporting a Securities and Exchange Commission investigation into California’s pension disclosure practices, but the reported subjects of the probe say they haven’t heard a thing from the SEC.

The New York Times, citing an anonymous source, reported Friday that the SEC is investigating California. The story compared the investigation to commission’s charges last summer that New Jersey violated securities fraud laws by failing to disclose to bond investors that it was underfunding its two largest pension plans. The state settled the charges by agreeing to a cease-and-desist order.

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