Reaction of 1,2-diketones with periodic acid
Yes it does, under basic conditions to give two carboxylic acids, according to this paper by Bunton &amp; Shiner J. Chem. Soc., 1960, 1593-1598  here 

Abstract of the paper:  


  The oxygen atom of the acetone from oxidation of pinacol and 2-methyl- propane-1,Z-diol by periodic acid comes from the l,Z-diol, in agreement with the suggestion that an intermediate is formed by electrophilic attack of the periodate. In contrast to this, the additional oxygen atom of acetic  acid, formed by oxidation of biacetyl by periodate in basic solution, comes from the periodate. The mechanism is a nucleophilic attack by periodate upon the carbonyl-carbon atom,  and does not seem to involve the hydrates of the ketone as intermediates. In the oxidation of methylacetoin by periodic acid the oxygen of the acetone comes from the hydroxyl group of the hydroxy- ketone, and the additional  oxygen atom of the acetic  acid comes from the periodate. The mechanism  probably  involves  nucleophilic attack by the periodate  ion  upon the carbonyl  group, and co-ordination of the hydroxyl group on to the iodine atom of the periodate.