The firm, Wright Investors' Service, managed tens of millions of dollars in pension money for union locals in an around the Albany, N.Y.-area district of Sen. Joseph Bruno, R-Brunswick, The New York Times reported Monday.

Bruno severed his ties with the company last December shortly after the newspaper revealed Wright was responsible for the union pension funds.

On Sunday, The Times Union of Albany reported federal investigators have issued subpoenas for records related to both Bruno and Wright.

It was the first indication in several months that a 2-year-old federal investigation into Bruno's outside business interests was still active, The New York Times said.

In response to the report, Wright Investors' Service issued a statement saying Bruno had assured them he disclosed their relationship in public filings and that authorities concluded it posed no substantive conflict of interest.