Order Execution Policy
|
|
- Agnes Franklin
- 6 years ago
- Views:
Transcription
1 Order Executin Plicy ( SSGMIL ) prvides trading services in equities, fixed incme, futures and ptins, and freign exchange within State Street Glbal Markets, a divisin f State Street Crpratin, ne f the wrld s leading prviders f financial services t institutinal investrs. When executing r transmitting yur rder(s) we take all reasnable steps t prvide yu with the best pssible result n a cnsistent basis by taking int accunt any specific instructins 1 we receive frm yu and a range f executin factrs in accrdance with the principles described in this Order Executin Plicy ( Plicy ). 1. Scpe Our bligatin t cnsistently prvide yu with the best pssible result in accrdance with the Plicy applies in respect f any rder yu may give us in any financial instrument as defined by the Markets in Financial Instruments Directive ( MiFID ), regardless f whether the executin takes place n a venue in the Eurpean Ecnmic Area, an equivalent venue in a third cuntry r n an verthecunter basis. The Plicy nly applies where we have categrised yu as a Prfessinal client and we yu a cntractual r agency bligatin. The duty t prvide best executin des nt apply t transactins invlving Eligible cunterparties and therefre where we have categrised as such the Plicy will nt apply. SSGMIL des nt deal with Retail clients. 2. Executin factrs When executing and/r transmitting yur rders we will take int accunt different executin factrs including, but nt limited t: Price; Csts; 1 See Sectin 4 belw. Page 1
2 Speed; Likelihd f executin; Likelihd and reliability f settlement; Size; Nature f an rder; and Other relevant cnsideratins, such as: Liquidity (relative rder size r financial instruments underlying liquidity); Market Impact; Nature f the available executin venue (regulated versus unregulated market venue);and Nature f the financial instrument. Our traders use their experience and judgment t determine the imprtance f each f these factrs n a case by case basis t assist in achieving f the best pssible result n a cnsistent basis in respect f yur rders. 3. Executin criteria In determining the relative imprtance f the executin factrs, when we are executing and/r transmitting yur rders, we will take int accunt the fllwing executin criteria: The extent t which we believe yu are relying upn us t prvide yu with the best pssible result; The characteristics f yur rder(s); The characteristics f the financial instrument; The characteristics f the available executin venues; and If yur rder is subject t any specific instructins that yu have given us. 4. Specific client instructins Whenever yu have given us a specific instructin regarding an rder r an aspect f an rder, we will execute r transmit such rder r aspect theref fllwing yur specific instructin. We will then apply this Plicy and take reasnable steps t btain the best pssible result fr the elements f the rder nt subject t r limited by yur instructins. Page 2
3 In the event that we feel that yur instructins may have becme unduly limiting t the executin f yur rder, such as where market cnditins have changed, we wuld aim t discuss this with yu and agree a suitable curse f actin. 5. Relative imprtance f the executin factrs While price is generally a key factr, the verall value t a client f a particular transactin may be affected by the ther factrs listed abve. The relative imprtance f each f the factrs will differ depending n: The characteristics f yur rder; The characteristics f the financial instruments t which the rder relates, as certain instruments are easier t execute than thers; The characteristics f the executin venue(s) t which we are able t direct and execute yur rder and the cnditins fr safe settlement assciated with thse venues; and, Cnsideratin f ptential market impact, taking int accunt any instructins yu might give us n participatin levels and having analysed the liquidity and relative size f the rder. 6. Further infrmatin n assetclass specific executin arrangements a. Equity instruments SSGMIL s preferred methd f executing yur rders fr equity instruments is fr ur traders t directly execute yur rder in the market as yur agent using a cmbinatin f techniques ranging frm manual t fully autmated. We may als use smart rder ruters and algrithms in rder t allw us t wrk yur rder(s) acrss multiple venues in the mst efficient manner pssible; we may als crss yur rder with anther SSGMIL client r with anther market cunterparty r liquidity prvider. Where facilities fr direct executin are nt available t us we will transmit yur rder t a suitable thirdparty r affiliated brker fr executin 2. In such cases we will clsely mnitr the perfrmance f the rder in s far as is pssible and will apply the principles described in sectin 7 f the Plicy. In Appendix I f this Plicy we prvide yu with an indicative list f the executin venues and illustrate ur access arrangements, bradly these cmprise the fllwing categries f venue: Regulated markets and third cuntry equivalents; Multilateral trading facilities ( MTF ) and third cuntry equivalents; 2 Please refer t Appendix I and see further in sectin 7 f this Plicy. Page 3
4 Systematic internalisers; Internal and external crssing netwrks; and Marketmakers, brkers, banks and ther liquidity prviders. Yu may f curse instruct us t execute yur rders using particular venues r cmbinatins theref. Subject t regulatin and acceptance by SSGMIL, yu may instruct us t direct yur rder t specific cunterparties fr executin. Frm timettime we may determine that it is beneficial t yur rder t execute it utside f a regulated market r MTF. Prvided that yu have given us yur express prir cnsent and we believe it is cnsistent with this Plicy t d s, we will execute yur rders in such a manner. b. Fixed Incme instruments SSGMIL typically executes yur rders in fixed incme instruments directly with ther market cunterparties (als knwn as dealers), because the use f trading venues is traditinally limited in fixed incme markets. When seeking prices frm such market cunterparties we will lk t btain qutes frm the key dealers fr the particular instrument and wuld aim t gain at least three qutes where the instrument permits this and rarely mre than five. There may be limited circumstances where, based n ur expertise and judgment, yur best interests may be better served by seeking prices frm fewer r mre market cunterparties. The chice f cunterparties varies based n the specific instrument. When selecting cunterparties t seek prices frm, in additin t the executin factrs, we will cnsider the fllwing characteristics f available cunterparties: Electrnic executin capability and ability t qute a market via Blmberg functinality; The quality f indicative bids and ffers and assciated spreads; Previus executins perfrmed with the cunterparty; Status f the cunterparty as a: lead manager f the applicable issuance f the instrument; and/r, knwn specialist in the instrument r sectr. c. Futures and ptins In the absence f specific instructins, when we are executing r transmitting yur rders in futures, we exercise ur wn discretin, based n ur experience, judgment, and the nature f yur rder(s) t prvide yu with the best pssible result and we take int accunt the fllwing executin factrs: Page 4
5 Price; Market impact; Size f the rder; Speed/ likelihd f executin; Market depth and liquidity in the cntract; and, Any specific instructins yu may give us. 3 d. Freign SSGMIL will typically transmit yur rders in freign exchange derivatives fr executin t a suitable thirdparty r affiliated brkerdealer fr executin 4, subject t jurisdictin. SSGMIL acts as yur agent; hwever, the relevant thirdparty r affiliate may becme yur cunterparty t the trade, depending n the specifics f the transactin. Additinally, at yur request we will rute yur rders t a specific cunterparty f yur selectin. When deciding where t transmit yur rders, SSGMIL will act in yur best interests when exercising ur prfessinal judgment t select an affiliate r thirdparty dealer based n ur assessment f that firm s ability t satisfy the varius executin factrs related t yur rder and taking int accunt any instructins yu may have given us. Finally, in respect f any rders in freign exchange which d nt cnstitute a financial instrument (i.e. spt cntracts and certain frward cntracts), whilst the bligatin fr best executin f rders under MiFID des nt apply, we will seek t apply the principles f this Plicy as we believe this serves yur general best interests. 7. Other imprtant matters a. Use f thirdparties and affiliates In rder t gain access t certain markets where we d nt have a membership r ther direct access arrangements, we may need t transmit yur rder t an affiliated r third party firm fr executin n ur behalf. We will exercise ur judgment, skill and experience t determine the apprpriateness and suitability f the relevant affiliate r third party firm. 3 Please refer t sectin 4 abve. 4 Please refer t Appendix I fr details f SSGMIL s affiliates. Page 5
6 The chice f thirdparty and affiliate firms will be determined by an nging assessment f their ability t supprt ur best executin bligatins t yu and a cmbinatin f the fllwing cnsideratins which will depend n the market we aim t access: Executin capabilities and range f accessible venues in target markets; Range f electrnic executin and rder handling capabilities; Credit ratings and quality f settlement arrangements; Status f the thirdparty r affiliate as: an fficial market maker r ther market specialist; and/r a knwn specialist in the market, sectr r instrument. Client rders executed using such arrangements are subject t mnitring and review 5 in rder t assess bth the utcme f the rder against the Plicy and the verall perfrmance f the thirdparty r affiliate firm. b. Third Party Brker Net Trading SSGMIL may, frm time t time, rute rders fr securities that are nt actively quted r fr which sufficient liquidity des nt exist t third party brkers which reprt such trades t State Street n a net basis, meaning that the price is inclusive f that brker s cmpensatin and/r fees (including, withut limitatin, stck brrw and cnversin fees arising in cnnectin with trading American Depsitry Receipts and Glbal Depsitry Receipts). Such brkers cmpensatin and fees d nt appear n yur trade cnfirmatins. These rders als remain subject t SSGMIL s fees and cmmissins, which are separately agreed with yu and set frth n yur trade cnfirmatins. State Street des nt receive any prtin f such brkers cmpensatin. By placing these types f trade rders with State Street yu are deemed t have acknwledged and agreed t State Street ruting and executing the rders in the manner described abve. c. Publicatin f limit rders We believe that it is nt always in yur best interests t make public limit rders in shares admitted t trading n a regulated market when they are nt immediately executed under prevailing market cnditins. We therefre will seek t btain a general instructin frm yu during the nbarding prcess, which we will als recnfirm peridically thereafter, which allws us t use ur discretin as t whether r nt t make such rders public. Unless therwise instructed, we will fllw the general instructin in respect f each rder yu give us. d. Executin f rders utside a regulated market r MTF 5 Please refer t sectin 8. Page 6
7 Frm timettime we may determine that it is beneficial t yur rder t execute all r part f it utside f a regulated market r MTF. Prvided that yu have given us yur express prir cnsent, btained during the nbarding prcess and peridically renewed thereafter, when we believe that it is cnsistent with this Plicy t d s we will execute yur rders in such a manner and apply the principles f this Plicy. e. Order aggregatin and allcatin When executing and/r transmitting yur rders we may cmbine yur rders with thse f ther clients f SSGMIL, which may include affiliated cmpanies. We will nly d this where we reasnably believe that it is in the verall best interest f each client. In the limited circumstances where SSGMIL r an affiliate may need t trade n its wn accunt, such as when trading ut f errrs assciated with client rders, we wuld nt cmbine yur rders with thse rders. 8. Mnitring and versight SSGMIL clsely mnitrs the effectiveness and perfrmance f its executin arrangements and delivery f best executin t its clients in respect f this Plicy. The relevant trading desks perfrm regular mnitring using a variety f methds pretrade, during trading and psttrade, including third party analytics. In additin t frntffice mnitring, the cmpliance department cnducts independent mnitring and may challenge findings and utcmes when required thrugh the curse f their prgram. SSGMIL has established a Best Executin Cmmittee ( BEC ) with set terms f reference in rder t prvide versight f the firm s executin arrangements and perfrmance findings. The BEC reprts directly t State Street Glbal Markets EMEA Senir Management Cmmittee, and meets mnthly t cnsider the findings f mnitring activities by the trading desks and cmpliance department. The BEC s membership cmprises senir representatives frm trading, peratins, transitin management, cmpliance, legal and risk. 9. Prcedural arrangements The Plicy and ur rder executin arrangements are reviewed at least annually by the relevant trading desks, cmpliance and BEC, but may be updated mre frequently when required, such as where we identify a material change which may affect ur ability t deliver best executin n a cnsistent basis. In the event that any material changes are made t the Plicy r t ur executin arrangements we will ntify yu accrdingly. Finally, yu may request that we demnstrate adherence t this Plicy in respect f any rder(s) we execute n yur behalf. Such requests shuld be made in writing and directed t: Head f SSGM EMEA Cmpliance Page 7
8 20 Churchill Place Canary Wharf Lndn E14 5HJ United Kingdm Effective date: January 2017 Legal and regulatry ntices and disclaimer State Street Eurpe Limited, authrised and regulated by the Financial Cnduct Authrity; (iii) State Street Glbal Markets Internatinal Limited, authrised and regulated by the Financial Cnduct Authrity 2017 State Street Crpratin All Rights Reserved. Page 8
9 Appendix I Executin Venues The fllwing list sets ut the varius arrangements ( SSGMIL ) may use in each in market and assetclass t execute yur rders. The precise venues and arrangements will be selected in accrdance with the Plicy, subject t any preferences yu may indicate and specific jurisdictinal requirements. References t direct access include venues where SSGMIL is either a member/participant r has direct market access thrugh a thirdparty that is itself a member. This list may change frm time t time, please cnsult yur SSGMIL representative fr details f ur mst current capabilities and t discuss yur executin requirements further 1. Eurpean venues Direct Access Thirdparty brker Austria Vienna Stck Belgium Eurnext Brussels Bulgaria Bulgarian Stck Cratia Zagreb Stck Cyprus Cyprus Stck Czech Republic Prague Stck Denmark NASDAQ OMX Nrdic Cpenhagen Estnia NASDAQ OMX Baltic Tallinn Finland NADAQ OMX Nrdic Helsinki France Eurnext Paris Germany Frankfurt Stck (Xetra) Börse Berlin Equiduct Eurex Deutschland Greece Athens Stck Hungary Budapest Stck Iceland NASDAQ OMX Iceland Ireland Irish Stck Italy Brsa Italiana Latvia NASDAQ OMX Baltic Riga Lithuania NASDAQ OMX Baltic Vilnius Luxemburg Luxemburg Stck Netherlands Eurnext Amsterdam Nrway Osl Børs Burgundy Page A11
10 APPENDIX I Pland Warsaw Stck Prtugal Eurnext Lisbn Rmania Bucharest Stck Russia Mscw Stck Slvakia Bratislava Stck Slvenia Ljubljana Stck Spain Blsa de Madrid Switzerland SIX Swiss United Kingdm BATS Eurpe / ChiX Eurpe Lndn Stck Turquise 2. Middle East and Africa venues Direct Access Thirdparty brker Bahrain Bahrain Stck Egypt Egyptian Ghana Ghana Stck Israel TelAviv Stck Kenya Nairbi Stck Kuwait Kuwait Stck Mrcc Casablanca Stck Nigeria Nigerian Stck Qatar Qatar Stck Turkey Brsa İstanbul Suth Africa Jhannesburg Stck United Arab Emirates Abu Dhabi Stck Dubai Stck Uganda Uganda Stck 3. AsiaPacific venues Australia Australian Securities ChiX Australia Bangladesh Dhaka Stck China Shanghai Stck (inc. ShanghaiHng Kng Stck Cnnect) Hng Kng Hng Kng Stck (inc. ShanghaiHng Kng Stck Cnnect) Hng Kng s and Clearing India Bmbay Stck Natinal Stck Indnesia Bursa Efek Indnesia Japan JASDAQ Securities Nagya Stck Osaka Securities Sappr Securities Tky Stck ChiX Japan SBI Japannext Direct Access Affiliated brker Thirdparty brker Page A12
11 APPENDIX I Malaysia Bursa Malaysia Pakistan Karachi Stck New Zealand NZX Markets Philippines Philippine Stck Singapre Singapre Sri Lanka Clmb Stck Suth Krea Krea Taiwan Taiwan Stck Thailand The Stck f Thailand Viet Nam H Chi Minh City Stck 4. Americas venues Brazil BM&F BOVESPA Ri de Janeir Stck Canada Alberta Stck Mntreal Trnt Stck Vancuver Stck Affiliated brker Thirdparty brker Chile Santiag Stck Clumbia Clumbia Stck Mexic Blsa Mexicana de Valres Peru Lima Stck United States New Yrk Stck NYSE Arca NASDAQ BATS Blckcrss 5. Relevant SSGMIL affiliates Glbal State Street Bank and Trust Cmpany EQ FI FUT FX EMEA State Street Bank GmbH AsiaPacific State Street Glbal Markets (Japan) Americas State Street Glbal Markets, LLC State Street Glbal Markets Canada, Inc. Currenex, Inc. All executin venues listed are available thrugh State Street Glbal Markets Internatinal Limited as f Nvember Venues are subject t peridic review and change State Street Crpratin All Rights Reserved Page A13
Order Execution Policy
Order Executin Plicy ( SSGMIL ) prvides trading services in equities, fixed incme, futures and ptins, and freign exchange within State Street Glbal Markets, a divisin f State Street Crpratin, ne f the
More informationOrder Execution Policy
Glbal Markets Order Executin Plicy State Street Bank Internatinal GmbH, Frankfurt branch State Street Bank Internatinal GmbH, Frankfurt branch ( SSB Intl. GmbH Frankfurt branch ) prvides the fllwing investment
More informationOrder Execution Policy
Order Executin Plicy ( SSBTC,LB ) prvides trading services in securities lending and freign exchange derivatives within State Street Glbal Markets, a divisin f State Street Crpratin, ne f the wrld s leading
More informationOrder Execution Policy
Order Executin Plicy ( SSB Intl. GmbH Lndn branch ) prvides trading services in securities lending, freign exchange derivatives and mney markets funds within State Street Glbal Markets, a divisin f State
More informationOrder Execution Policy
Order Execution Policy State Street Global Markets International Limited State Street Global Markets International Limited ( SSGMIL ) provides trading services in equities, fixed income, futures and foreign
More informationBest Execution Policy. Version: July 2018
Best Executin Plicy Versin: 3.0 18 July 2018 Next Review Date: 1 Octber 2018 Cntents 1 Intrductin... 4 2 Review f plicy... 4 3 Best Executin... 4 3.1 Summary f Best Executin... 4 3.2 Delivery f Best Executin...
More informationBest Execution & Client Order Execution Policy. October P age 1 6. BE31/10/17 v1
Best Executin & Client Order Executin Plicy Octber 2017 BE31/10/17 v1 P age 1 6 Cntents 1. Backgrund... 3 2. Order placement... 3 3. Order executin factrs... 3 4. Order executin plicy... 3 5. Order executin
More informationTel: Fax: Web: Address: 1 Ropemaker Street London EC2Y 9HT United Kingdom
ORDER EXECUTION POLICY 1. Intrductin Trading Pint f Financial Instruments UK Limited, trading under the name XM, is a UK Investment Firm (registratin number 09436004), regulated by the Financial Cnduct
More informationRULES ON ELIGIBILITY OF COSTS
Annex III RULES ON ELIGIBILITY OF COSTS Eligible csts are an essential instrument fr guaranteeing cmpliance with the principle f sund financial management and ensuring that the Cmmunity grant serves t
More informationPershing Financial Services Guide (FSG) including its Privacy Policy
Pershing Financial Services Guide (FSG) including its Privacy Plicy Issued by Pershing Securities Australia Pty Ltd ABN 60 136 184 962 Australian Financial Services License N. 338 264 Date FSG was prepared:
More informationRTS 28 Quality of Execution Annual Report
Firm: Brevan Hward Asset Management LLP ( BHAM r the Firm ) Calendar Year Disclsure Perid: 1 January 2017 t 31 December 2017 Date: 30 April 2018 RTS 28 Quality f Executin Annual Reprt Summary f classes
More informationNANOSTRING TECHNOLOGIES, INC. COMPENSATION COMMITTEE CHARTER. (Adopted as of October 16, 2012 and amended as of April 26, 2017)
NANOSTRING TECHNOLOGIES, INC. COMPENSATION COMMITTEE CHARTER (Adpted as f Octber 16, 2012 and amended as f April 26, 2017) PURPOSE The purpse f the Cmpensatin Cmmittee (the Cmmittee ) f the Bard f Directrs
More informationClient Categorisation
INTRODUCTION ATC BROKERS LIMITED ( ATC ) ensures that clients are apprpriately categrised, prir t ding business with them, in rder t ensure that regulatry prtectins are fcused n thse classes f client that
More informationICAP Execution and Order Handling Policy
ICAP Executin and Order Handling Plicy Nvember 2017 This Executin and Order Handling Plicy (the Plicy ) is applicable t executin services prvided t yu by any f the fllwing entities and any f their successrs,
More informationClearing arrangements
Rules Ntice Guidance Nte Dealer Member Rules Please distribute internally t: Internal Audit Legal and Cmpliance Operatins Regulatry Accunting Senir Management Cntact: Richard J. Crner Vice President, Member
More informationCHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF PLURALSIGHT, INC. Adopted May 3, 2018
CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF PLURALSIGHT, INC. Adpted May 3, 2018 PURPOSE The purpse f the Cmpensatin Cmmittee (the Cmpensatin Cmmittee ) f the Bard f Directrs (the
More informationTullett Prebon Execution and Order Handling Policy
Tullett Prebn Executin and Order Handling Plicy Nvember 2017 This Executin and Order Handling Plicy (the Plicy ) is applicable t executin services prvided t yu by any f the fllwing entities and any f their
More informationCHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF DROPBOX, INC.
CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF DROPBOX, INC. (Adpted n February 22, 2018, Effective upn the effectiveness f the registratin statement relating t the Cmpany s initial
More informationMIFID Policy Client classification
MIFID Plicy Client classificatin Page 1 f 8 Cntents 1. Intrductin... 3 2. Purpse... 3 3. Client Classificatin... 5 a) Eligible cunterparties... 5 b) Prfessinal clients... 6 c) Retail clients... 8 d) Classificatin
More informationEXECUTION VENUE LIST 2018 BANK JULIUS BAER & CO. LTD.
15 TH MAY 2018 1/5 EXECUTION VENUE LIST 2018 BANK JULIUS BAER & CO. LTD. Cash Equities, Exchange Traded Funds & Securitized Derivatives Europe Austria Wiener Boerse AG Broker Network Cyprus Cyprus Stock
More informationFINANCIAL SERVICES GUIDE
PART N: iinvest Securities Financial Services Guide (FSG) FINANCIAL SERVICES GUIDE DATED: Octber 2017 Cntents f this FSG This Financial Services Guide ( FSG ) is an imprtant dcument that iinvest Securities
More informationCHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF ON DECK CAPITAL, INC.
CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF ON DECK CAPITAL, INC. (Adpted n September 15, 2014, amended thrugh July 29, 2016) PURPOSE The purpse f the Cmpensatin Cmmittee f the Bard
More informationVIVINT SOLAR, INC. COMPENSATION COMMITTEE CHARTER. (Adopted as of May 9, 2014)
VIVINT SOLAR, INC. COMPENSATION COMMITTEE CHARTER (Adpted as f May 9, 2014) PURPOSE The purpse f the Cmpensatin Cmmittee (the Cmmittee ) f the Bard f Directrs (the Bard ) f Vivint Slar, Inc. (the Cmpany
More informationThis financial planning agreement (the Agreement ) is made on this date: between the undersigned party, whose mailing address is
F I N A N C I A L P L A N N I N G A G R E E M E N T This financial planning agreement (the Agreement ) is made n this date: between the undersigned party, CLIENT(s): whse mailing address is (hereinafter
More informationMAS PROPOSES NEW REGULATORY FRAMEWORK FOR OTC DERIVATIVES
FEBRUARY 2012 1 MAS PROPOSES NEW REGULATORY FRAMEWORK FOR OTC DERIVATIVES On 13 February 2012, the Mnetary Authrity f Singapre ( MAS ) issued tw cnsultatin papers: Cnsultatin Paper n Transfer f Regulatry
More informationMIFID Policy Client classification & Best execution
MIFID Plicy Client classificatin & Best executin Status: APPROVED Type f Dcument: Plicy Versin: v1.0 Versin N Revisin Date Validatin due date Cmment Next review latest due date 1.0 June 2015 June 2015
More informationWorkers Pension Trust
Wrkers Pensin Trust YEAR ENDED 31 OCTOBER 2016 CHAIRMAN S ANNUAL STATEMENT REGARDING DC GOVERNANCE This statement is prduced pursuant t Regulatin 17 f the Occupatinal Pensin Schemes (Charges and Gvernance)
More informationAudit and Risk Management Committee Charter
Audit and Risk Management Cmmittee Charter Pivtal Systems Crpratin ("Cmpany") 1. Objectives The Audit and Risk Management Cmmittee (Cmmittee) has been established by the bard f directrs (Bard) f the Cmpany.
More informationTERMS OF REFERENCE. Audit and Risk Committee (the "Committee") of Wilmcote Holdings Plc (the "Company")
References t the "Bard" shall mean the full Bard f Directrs. MEMBERSHIP - The Bard has reslved t establish a cmmittee f the Bard t be knwn as the Audit and Risk Cmmittee. - The Cmmittee shall cmprise at
More informationSafe Harbour Interest Rates for Intra-Group Loans. 1. Safe Harbour Interest Rates for Intra-Group Loans in Swiss Francs. No.
N. 01/February 2012 Dear Sir r Madam, We are pleased t send yu the first editin 2012 f ur TaxBulletin in English. This publicatin is intended t regularly keep yu up-t-date abut current tpics and news regarding
More informationSEC Proposes Amendments to Rule 10b-18 Safe Harbor for Issuer Share Repurchases
SEC Prpses Amendments t Rule 10b-18 Safe Harbr fr Issuer Share Repurchases January 29, 2010 On January 26, 2010, the Securities and Exchange Cmmissin ( SEC ) prpsed amendments t Rule 10b-18 under the Securities
More informationAUDIT, RISK MANAGEMENT AND COMPLIANCE COMMITTEE CHARTER
AUDIT, RISK MANAGEMENT AND COMPLIANCE COMMITTEE CHARTER August 2012 OPUS Grup Limited Audit, Risk Management and Cmpliance Cmmittee 1. GENERAL PURPOSE The primary bjective f the Audit, Risk Management
More informationHUMAN RESOURCES AND COMPENSATION COMMITTEE CHARTER
HUMAN RESOURCES AND COMPENSATION COMMITTEE CHARTER PURPOSE The Human Resurces and Cmpensatin Cmmittee (the Cmmittee ) f Precisin Drilling Crpratin (the Crpratin ) is a standing cmmittee f the bard f directrs
More informationInvestor Money Regulations
Investr Mney Regulatins A new regime fr fund service prviders in Ireland On the 30 th March 2015, the new Investr Mney Regulatins were brught int effect by Statutry Instrument 105 f 2015, with crrespnding
More informationIA POSITION PAPER ON LAST LOOK
IA POSITION PAPER ON LAST LOOK The Investment Assciatin ( the IA ) represents UK investment managers and has ver 220 members wh cllectively manage mre than 6.9 trillin f behalf f clients in the UK and
More informationThe Company is a public company incorporated in Bermuda and its securities are listed on AIM.
(Incrprated in Bermuda Registratin N. 44512) POLICY FOR TRADING IN COMPANY SECURITIES The Cmpany is a public cmpany incrprated in Bermuda and its securities are listed n AIM. Schedule 1 t this Plicy cntains
More informationTERMS OF REFERENCE FOR THE PROVISION OF OUTSOURCED INTERNAL AUDIT SERVICE
W&RSETA Standard Bidding Dcuments Terms f Reference TERMS OF REFERENCE FOR THE PROVISION OF OUTSOURCED INTERNAL AUDIT SERVICE 1 W&RSETA Standard Bidding Dcuments Terms f Reference 1. BACKGROUND TO W&RSETA
More informationSEC Adopts Rules to Enhance Order Handling Information Available to Investors
Alert SEC Adpts Rules t Enhance Order Handling Infrmatin Available t Investrs December 14, 2018 On Nv. 2, 2018, the U.S. Securities and Exchange Cmmissin adpted amendments ( Amendments ) t Rule 606 f the
More informationEMIR Fees Disclosure
EMIR Fees Disclsure Merrill Lynch Internatinal Merrill Lynch, Pierce, Fenner & Smith Incrprated August 2014 Versin 5.0/August 2014 #37490657 Versin 5.0/August 2014 #37490657 Merrill Lynch Internatinal
More informationTHE CLOROX COMPANY AUDIT COMMITTEE CHARTER. [Effective May 8, 2017]
THE CLOROX COMPANY AUDIT COMMITTEE CHARTER [Effective May 8, 2017] PURPOSE AND AUTHORITY The Audit Cmmittee ( Cmmittee ) is established by the Bard f Directrs ( Bard ) fr the purpses f: 1. Representing
More informationCAREVEST MORTGAGE INVESTMENT CORPORATION Directions for Completing Retraction Requests
This package is ONLY fr Class A sharehlders f. Cntents f this package (5 pages): - Instructins fr cmpleting yur retractin request - Retractin Request frm fr CareVest Mrtgage Investment Crpratin The February
More informationProducer Statements will be accepted only in accordance with this policy.
Prducer Statements Plicy This plicy has been prepared t ensure that Cuncil has clearly dcumented plicies and prcedures fr the request fr and acceptance f Prducer Statements in cnnectin with applicatins
More informationPRIMERICA, INC. COMPENSATION COMMITTEE CHARTER Adopted on March 31, 2010 and revised as of August 15, 2018
PRIMERICA, INC. COMPENSATION COMMITTEE CHARTER Adpted n March 31, 2010 and revised as f August 15, 2018 Missin The Cmpensatin Cmmittee (the Cmmittee ) f Primerica, Inc. (the Cmpany ) is respnsible fr determining
More informationHuntington Bancshares Incorporated
Audit Cmmittee Apprved By: Bard f Directrs Huntingtn Bancshares Incrprated Apprval Date 1 f 6 Purpse f Cmmittee The Audit Cmmittee (Cmmittee) is established by the Bard f Directrs (Bard) t assist the Bard
More informationBest execution policy
Best execution policy I. Purpose 1. This document: a) sets forth the measures that BCV takes to obtain the best possible result when executing orders and/or receiving and transmitting orders on behalf
More informationPRODUCT HIGHLIGHTS SHEET
Prepared n: 15 March 2018 This Prduct Highlights Sheet is an imprtant dcument. It highlights the key terms and risks f this investment prduct and cmplements the Singapre Prspectus 1. It is imprtant t read
More informationCHARTER OF THE NOMINATING AND CORPORATE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS OF PLURALSIGHT, INC. Adopted May 3, 2018
CHARTER OF THE NOMINATING AND CORPORATE GOVERNANCE COMMITTEE PURPOSE OF THE BOARD OF DIRECTORS OF PLURALSIGHT, INC. Adpted May 3, 2018 The purpse f the Nminating and Crprate Gvernance Cmmittee (the Nminating
More informationGENERAL MOTORS COMPANY AUDIT COMMITTEE CHARTER. Amended and Restated: December 13, 2017
GENERAL MOTORS COMPANY AUDIT COMMITTEE CHARTER Amended and Restated: December 13, 2017 Purpse The purpse f the Audit Cmmittee is t assist the Bard f Directrs f General Mtrs Cmpany in its versight f the
More informationFINANCE & AUDIT COMMITTEE
FINANCE & AUDIT COMMITTEE Page 1 f 8 CHARTER f the Finance & Audit Cmmittee f the Bard Of Directrs f Spectral Medical Inc. Purpse The primary functin f the Finance & Audit Cmmittee (the Cmmittee ) f the
More informationAUDIT & RISK COMMITTEE (ARC)
AUDIT & RISK COMMITTEE (ARC) The Audit and Risk Cmmittee is an independent appraisal bdy appinted by the chapter bard t assist the bard in fulfilling its versight respnsibilities pertaining t the integrity
More informationARIZONA FIRE DISTRICT ASSOCIATION FINANCIAL PROCEDURES POLICY
FINANCIAL PROCEDURES POLICY 1. PURPOSE The purpse f these Financial Prcedures is t prvide cnsistent applicatin f cnduct and prper internal cntrls t safeguard the assets f the Arizna Fire District Assciatin
More informationApproval Process and Arrangements for University Consultancy Work
Apprval Prcess and Arrangements fr University Cnsultancy Wrk 1 Intrductin Cnsultancy activities can be separated int tw types: thse undertaken in City s name (University cnsultancy) and thse undertaken
More informationKEY PRODUCT INFORMATION DOCUMENT CONTRACT FOR DIFFERENCES (CFD) ON FX PAIRS - SPOT
KEY PRODUCT INFORMATION DOCUMENT CONTRACT FOR DIFFERENCES (CFD) ON FX PAIRS - SPOT This is nt a marketing material. This dcument prvides yu with key infrmatin abut this prduct grup. The purpse f this infrmatin
More informationThis Agreement is hereby confirmed to vary Terms & Conditions of employment between The Company and you.
Salary Sacrifice Agreement Terms & Cnditins This Agreement regulates yur participatin in the Simplydriveit prgramme, which has been implemented by Pendragn Cntracts Ltd fr (cmpany name here) Under the
More informationAudit & Risk Committee Charter
Audit & Risk Cmmittee Charter AUDIT & RISK COMMITTEE CHARTER The Audit & Risk Cmmittee has been established by reslutin f the Bard f Macmahn Hldings Limited ( Macmahn r the Cmpany ). Membership The Audit
More informationAUDIT & RISK COMMITTEE CHARTER
AUDIT & RISK COMMITTEE CHARTER Rle and Respnsibilities The Bard f The Institute f Internal Auditrs Australia (IIA-Australia) has established a Bard Audit & Risk Cmmittee as part f its respnsibilities in
More informationHEIDRICK & STRUGGLES INTERNATIONAL, INC. Corporate Governance Guidelines
HEIDRICK & STRUGGLES INTERNATIONAL, INC. Crprate Gvernance Guidelines The Heidrick & Struggles Internatinal, Inc. (The Cmpany ) Bard f Directrs (the Bard ) and management believe that the Cmpany, in the
More informationWelcome. 1.Identification. 2.Accuracy of content
Welcme We are delighted t welcme yu t Samsnite s Service Prtal (hereinafter referred t as the "Site"), the fficial nline stre fr spare parts. We ask yu t take the time t read these terms and cnditins carefully.
More informationA Civil Society Agenda for the OECD
A Civil Sciety Agenda fr the OECD Fr the CFA-DAC and Glbal Frum n Develpment meetings, January 2010 A Civil Sciety Agenda fr the OECD Page 2 Backgrund In 2010, the wrld s gvernments will review prgress
More informationTASSAL GROUP LIMITED ABN Procedures for the Oversight and Management of Material Business Risks. (Approved by the Board 28 May 2015)
Prcedures fr the Oversight and Management f Material Business Risks TASSAL GROUP LIMITED ABN 15 106 067 270 Prcedures fr the Oversight and Management f Material Business Risks (Apprved by the Bard 28 May
More informationCITIGROUP INC. AUDIT COMMITTEE CHARTER As of January 18, 2018
CITIGROUP INC. AUDIT COMMITTEE CHARTER As f January 18, 2018 Missin The Audit Cmmittee ( Cmmittee ) f Citigrup Inc. ( Citigrup r the Cmpany ) is a standing cmmittee f the Bard f Directrs ( Bard ). The
More informationInternational Standard on Auditing (Ireland) 265. Communicating Deficiencies in Internal Control to Those Charged with Governance and Management
Internatinal Standard n Auditing (Ireland) 265 Cmmunicating Deficiencies in Internal Cntrl t Thse Charged with Gvernance and Management MISSION T cntribute t Ireland having a strng regulatry envirnment
More informationBEST EXECUTION POLICY
BEST EXECUTION POLICY Effective from 3 January 2018 TABLE OF CONTENT 1. Introductory provisions 2. Execution Venues and Quality of Executions 3. Execution venues where the Company executes customer's instructions
More informationSNAKK MEDIA LIMITED FINANCIAL PRODUCTS TRADING POLICY AND GUIDELINES
SNAKK MEDIA LIMITED FINANCIAL PRODUCTS TRADING POLICY AND GUIDELINES Date adpted: 5 Nvember 2015 Versin: 1 1 SCOPE OF POLICY FINANCIAL PRODUCTS TRADING POLICY AND GUIDELINES This plicy applies t all directrs,
More informationTerms and Conditions 19 December 2018
Stck and Shares Lifetime ISA (Prperty Saver) Terms and Cnditins 19 December 2018 These Terms, tgether with the Applicatin Frm, frm a legal agreement between yu and us which sets ut hw the Lifetime ISA
More informationWritten Submission for the Pre-Budget Consultations in Advance of the 2019 Budget. By: The Investment Funds Institute of Canada
Written Submissin fr the Pre-Budget Cnsultatins in Advance f the 2019 Budget By: The Investment Funds Institute f Canada Written Submissin fr the Pre-Budget Cnsultatins in Advance f the 2019 Budget By:
More informationAudit Committee Charter
Audit Cmmittee Charter I. Purpse f Audit Cmmittee The purpse f the Audit Cmmittee, which is part f the Bard, shall be (a) t assist the Bard s versight f (i) the integrity f the Cmpany s financial statements,
More informationIQnovate Share Placement Completed
NSX: IQN IQnvate Share Placement Cmpleted 13 March 2013 Further t the Cmpany s previus annuncement, and the expiry f the 12 mnth escrw perid fr existing shares,attached is an Applicatin fr Qutatin f the
More informationOverview of Statements of Investment Policies and Procedures (SIPP) Requirements
Financial Services Cmmissin f Ontari Cmmissin des services financiers de l Ontari SECTION: INDEX NO.: TITLE: APPROVED BY: PUBLISHED: Investment Guidance Ntes IGN-005 Overview f Statements f Investment
More informationRisk and Audit Committee charter
Risk and Audit Cmmittee charter 1. Intrductin The Bard f Cffey Internatinal Limited ( Cffey r the Cmpany ) has established a Risk and Audit Cmmittee ( Cmmittee ). It is nted that the Cmmittee is a sub-cmmittee
More informationAudit Committee Charter. St Andrew s Insurance (Australia) Pty Ltd St Andrew s Life Insurance Pty Ltd St Andrew s Australia Services Pty Ltd
Audit Cmmittee Charter St Andrew s Insurance (Australia) Pty Ltd St Andrew s Life Insurance Pty Ltd St Andrew s Australia Services Pty Ltd Versin 3.0, 19 February 2018 Apprver Bard f Directrs St Andrew
More informationEligibility rules for Costs of mobility of personnel
Fact Sheet 1.5 Eligibility rules fr Csts f mbility f persnnel This Fact Sheet shall serve the EUROfusin beneficiaries and linked third parties as a guideline. It shall neither cnstitute a legally binding
More informationUnderstanding Self Managed Superannuation Funds
Understanding Self Managed Superannuatin Funds Hw t read this dcument Managing yur finances t meet yur day t day requirements as well as yur lng-term gals can be a cmplex task. There are all srts f issues
More informationSuperannuation contributions tax ruling Tax deductibility of superannuation contributions
July 2011 Technical Bulletin Superannuatin cntributins tax ruling Tax deductibility f superannuatin cntributins Wh is impacted? As a result f tax ruling 2010/1 yur clients can n lnger claim a tax deductin
More informationWe have carried out the following assurance activities:
Independent Assurance Reprt T the Bard f Directrs and Management f Trnt-Dminin Bank (the Bank ) Our respnsibilities Our limited assurance engagement has been planned and perfrmed in accrdance with the
More informationInvestor s Guide to Exchange Traded Funds.
Investr s Guide t Exchange Traded Funds. Investment Strategies Risk Management 1.877.622.5552 www.firsttrust.ca ETFs Exchange-Traded Funds (ETFs) prvide an efficient and simple way t invest in wrldwide
More informationSTATE OF NEW YORK MUNICIPAL BOND BANK AGENCY
STATE OF NEW YORK MUNICIPAL BOND BANK AGENCY Recvery Act Bnd Prgram Written Prcedures fr Tax Cmpliance and Internal Mnitring, adpted September 12, 2013 PROGRAM OVERVIEW The State f New Yrk Municipal Bnd
More informationLMA GUIDANCE: GDPR CORE USES INFORMATION NOTICE
LMA GUIDANCE: GDPR CORE USES INFORMATION NOTICE FEBRUARY 2018 NOTE: This guidance and the Lndn Market Cre Uses Infrmatin Ntice will be updated when the UK Data Prtectin Bill is enacted the Bill currently
More informationManual of Administrative Policies and Procedures
Manual f Administrative Plicies and Prcedures POLICY 1.49 Cntract Management and Signing Authrity Plicy Categry: General Related Prcedures: Prcedures fr Negtiating, Apprving and Signing University Cntracts
More informationNEWS ABOUT YOUR DANSKE INVEST SICAV INVESTMENT. Luxembourg, June 2018
NEWS ABOUT YOUR DANSKE INVEST SICAV INVESTMENT Luxemburg, June 2018 Dear Sharehlder, We hereby wuld like t prvide yu with sme infrmatin related t yur investment in Danske Invest SICAV (the "SICAV"). The
More informationMiFID Supervisory Briefing Suitability
MiFID Supervisry Briefing Suitability 19 December 2012 ESMA/2012/850 Date: 19 December 2012 ESMA/2012/850 I. Backgrund 1. ESMA is required t play an active rle in building a cmmn supervisry culture by
More informationPrivacy Notice for Applicants and Tenants
Privacy Ntice fr Applicants and Tenants What we need Scttish Brders Husing Assciatin (SBHA) will be a "cntrller" f the persnal infrmatin that yu prvide t us thrugh yur cmpleted Husing Applicatin Frm, and
More informationALERT. The SEC s Final Crowdfunding Rules: Still May Not Be a Crowd Pleaser. Author: Issuer and Investor Eligibility.
ALERT Nvember 4, 2015 The SEC s Final Crwdfunding Rules: Still May Nt Be a Crwd Pleaser Authr: Dnna L. Brks (860) 251-5917 dbrks@gdwin.cm On Octber 30, 2015, the Securities and Exchange Cmmissin (the SEC
More informationFUNDING GUIDELINES PREVENTION GRANTS FOR CULTURALLY AND LINGUISTICALLY DIVERSE COMMUNITIES
FUNDING GUIDELINES PREVENTION GRANTS FOR CULTURALLY AND LINGUISTICALLY DIVERSE COMMUNITIES CODE FOR APPLICATION COVER: CALD18 ISSUE DATE: 24 Octber 2017 PLACE FOR LODGEMENT: Please ldge yur applicatin
More informationORDER EXECUTION POLICY OF THE INVESTMENT SERVICES UNIT
On the basis f Article 163 f the Law n the Capital Market ("Official Gazette f RS", 31/2011) and Article 52 f the Rulebk n rules f cnduct fr investment firms when prviding investment services ("Official
More informationSummary of revised methodology for setting the allowed revenue for electricity transmission
Public Cnsultatin, December 2013 Summary f revised methdlgy fr setting the allwed revenue fr electricity transmissin Summary f revised methdlgy fr setting the allwed revenue fr electricity transmissin
More informationPROFICIENCY STANDARD FOR APPROVED PERSONS SELLING EXCHANGE TRADED FUNDS ( ETFs )
MFDA POLICY NO. 8 PROFICIENCY STANDARD FOR APPROVED PERSONS SELLING EXCHANGE TRADED FUNDS ( ) Purpse Under Rule 1.2.3 (Educatin, Training and Experience), an Apprved Persn must nt perfrm an activity that
More informationInternal Control Requirements for Adopting New Accounting Standards
Internal Cntrl Requirements fr Adpting New Accunting Standards Backgrund In previus articles, BKD discussed the U.S. Securities and Exchange Cmmissin s (SEC) expectatins regarding the requirement t disclse
More informationANNEX III FINANCIAL AND CONTRACTUAL RULES I. RULES APPLICABLE TO BUDGET CATEGORIES BASED ON UNIT CONTRIBUTIONS
2016_KA2_ Annex 3_EB.dcx ANNEX III FINANCIAL AND CONTRACTUAL RULES I. RULES APPLICABLE TO BUDGET CATEGORIES BASED ON UNIT CONTRIBUTIONS I.1 Cnditins fr eligibility f unit cntributins Where the grant takes
More informationInvestment Management Alert
July 2010 Authr: Anna Paglia anna.paglia@klgates.cm +1.312.781.7163 Mark R. Greer mark.greer@klgates.cm +1.312.807.4393 K&L Gates includes lawyers practicing ut f 36 ffices lcated in Nrth America, Eurpe,
More informationPark Square Capital, LLP (the Firm, Park Square ) Remuneration Policy Statement
Park Square Capital, LLP (the Firm, Park Square ) Remuneratin Plicy Statement Overview The Remuneratin Plicy is designed t supprt Park Square s business bjectives, strategy and align risk appetite with
More informationPROOF OF CLAIM AND RELEASE
PROOF OF CLAIM AND RELEASE Deadline fr Submissin: July 11, 2015 IF YOU PURCHASED THE COMMON STOCK OF, INC., ( ) DURING THE PERIOD FROM NOVEMBER 14, 2013 THROUGH APRIL 9, 2014, INCLUSIVE (THE CLASS PERIOD
More informationInternational Standard on Auditing (UK) 265
Standard Audit and Assurance Financial Reprting Cuncil June 2016 Internatinal Standard n Auditing (UK) 265 Cmmunicating Defi ciencies in Internal Cntrl t Thse Charged With Gvernance and Management The
More informationWhat type of Bank is best suited to do BOLI?
Bank Owned Life Insurance (BOLI) Bank Owned Life Insurance (BOLI) is defined as a cmpany wned insurance plicy n ne r mre f its key emplyees that will infrmally fund the financing f emplyee benefits prgrams.
More informationCorporate Governance Principles
Crprate Gvernance Principles Revised 05-03-2018 Amphenl s Crprate Gvernance Principles have been apprved by the Bard f Directrs and, tgether with the Cmpany s Certificate f Incrpratin, as amended and/r
More informationIndependent Director and Audit Committee
Independent Directr and Audit Cmmittee Rules summary The listed cmpany s bard f directrs is representing the sharehlders. They are respnsible fr making decisins n the cmpany s imprtant plicies and strategies.
More informationPensions and Aging: Lessons from Europe and Central Asia
Public Disclsure Authrized Public Disclsure Authrized Public Disclsure Authrized Pensins and Aging: Lessns frm Eurpe and Central Asia Anita M. Schwarz Lead Ecnmist Scial Prtectin and Labr Glbal Practice
More informationBoard Performance Review & Renewal Policy
Bard Perfrmance Review & Renewal Plicy St Andrew s Insurance (Australia) Pty Ltd St Andrew s Life Insurance Pty Ltd St Andrew s Australia Services Pty Ltd Versin 2.0, 22 February 2016 Apprver Bard f Directrs
More informationRegulated Covered Bonds. Covered.
Regulated Cvered Bnds. Cvered. In frce: The Regulated Cvered Bnds Regulatins 2008 (the Regulatins ) cme int frce n 6 March 2008. Click here t g t a cpy f the Regulatins. UCITS-cmpliant cvered bnds: The
More informationPROOF OF CLAIM AND RELEASE
Deadline fr Submissin: FEBRUARY 16, 2015 Tel.: 866-274-4004 Fax: 610-565-7985 inf@strategicclaims.net PROOF OF CLAIM AND RELEASE IF YOU PURCHASED OR OTHERWISE ACQUIRED AMERICAN DEPOSITORY SHARES ( ADS
More information