Despite criticism, Florida Cabinet reaffirms investment director

TALLAHASSEE — Gov. Charlie Crist and two Cabinet members who sit on a panel that invests state money chastised their top staffer Tuesday for failing to keep them updated on a Securities and Exchange Commission investigation.

But the State Board of Administration also praised Ash Williams' overall performance and unanimously reaffirmed his appointment for another year overseeing more than $130 billion in investments.

Crist, Attorney General Bill McCollum and Chief Financial Officer Alex Sink had complained Williams didn't advise them in October 2008 when he received a formal order of private investigation from the SEC.

Williams said the order, which arrived just a day or two after he began working for the board, was just a procedural step in the investigation — announced eight months earlier — of investments made for local governments.