– Missouri State Treasurer refuses to share MOST 529 education savings plan data with Morningstar, an investment research firm
– Treasurer Vivek Malek claims Morningstar might have dubious links to China and an anti-Israel inclination
– Morningstar insists on its impartiality and has requested the data to analyze state-sponsored educational savings plans nationwide
Missouri’s Data Standoff
Missouri State Treasurer Vivek Malek has knocked back a request from Morningstar, an investment research firm, to provide data regarding its state-sponsored education savings plan. As the custodian of The Missouri Education Savings Program (MOST 529), Malek cites undisclosed ties to China and a potential bias against Israel as the reasons for his reluctance to share data.
The Accusations Against Morningstar
In a firmly worded letter to Morningstar, Malek displayed his concerns about the propriety company’s intentions to take a closer look at state-run education savings plans across America. Notably, he flagged potential links to China and indications of bias against Israel. However, the specifics of these links or biases were not mentioned in the letter.
Morningstar’s Defense
On the flip side, Morningstar cites its role as a dispassionate evaluator of financial products and services. The company maintains its agenda is strictly for the understanding and comparison of state-run education savings plans for the benefit of American savers. It projects its request to gather data on MOST 529 as a part of this wider objective.
The Breezy Take
While Treasurer Malek’s concerns over potential foreign influence in state education matters may seem justified, the accusations seem to be based on undisclosed and potentially biased conclusions. Without a comprehensive detailing of Morningstar’s dubious ‘connections’ or ‘biases’, it’s hard to gauge the true gravity of the situation. On the other side, Morningstar appears to be going about its business as usual, gathering data for evaluation and comparison. A compromise on both sides seems necessary for a resolution. As it stands, though, this “data standoff” is a reminder of the fine line between safeguarding state data and obstructing potential research beneficial to the public.
Original article: https://missouriindependent.com/2023/11/03/missouri-treasurer-refuses-morningstar-data-request-accusing-company-of-anti-israel-bias/