BRADENTON, Fla. — Florida officials have adopted what they say are stringent policies for the state’s local government investment pool requiring managers to operate under the same standards as a money market fund registered with the Securities and Exchange Commission.

The LGIP has operated under progressively more conservative policies since a run severely depleted it in late 2007. The State Board of Administration board of trustees Tuesday voted formally to adopt policies that implement additional protections for the local governments across the state that invest in the pool.

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