Access Person Account definition

Access Person Account means the following Securities accounts: any personal account of an Access Person; any joint or tenant-in-common account in which the Access Person has an interest or is a participant; any account for which the Access Person acts as trustee, executor, or custodian; any account over which the Access Person has investment discretion or otherwise can exercise control (other than non-related clients' accounts over which the Access Person has investment discretion), including the accounts of entities controlled directly or indirectly by the Access Person; and any other account in which the Access Person has a direct or indirect Beneficial Interest (other than such accounts over which the Access Person has no investment discretion and cannot otherwise exercise control); and any account in which an Immediate Family member has a Beneficial Interest.

Access Person Account means any brokerage account over which an access person has beneficial ownership or exerts trading control.

Access Person Account means any account in which an Access Person has a direct or indirect Beneficial Ownership interest in the Securities held in the account unless such an account is specifically excluded from this Code’s requirements by the Compliance Department. An Access Person Account is also an Employee Account for purposes of the Code. An Access Person Account does not include any account over which the Access Person has no direct or indirect influence or control and in which transactions are effected without the Access Person’s prior notification.

Examples of Access Person Account in a sentence

• No Security or related Security may be acquired in an initial public offering for any Access Person Account.

• No Security or related Security may, within a 60-day period, be bought and sold or sold and bought at a profit for any Access Person Account if the Security or related Security was held at any time during that period in any Client account.

• If a purchase or sale order is pending or under active consideration for any Client account by any Company or Affiliate, neither the same Security nor any related Security (such as an option, warrant or convertible security) may be bought or sold for any Access Person Account.

• If a purchase or sale order is pending or under active consideration for any Client Account by any Company or Affiliate, neither the same Security nor any related Security (such as an option, warrant, right, futures contract or convertible security) may be bought or sold for any Access Person Account.

• No Security may be bought or sold for an Access Person Account unless: (i) the Access Person obtains prior approval from the Compliance Officer or, in the absence of the Compliance Officer, from the General Counsel of GAMCO Investors, Inc.

• If a purchase or sale order is pending or under active consideration for any Client account by any Company or Affiliate, neither the same Security nor any related Security (such as an option, warrant, right, futures contract or convertible security) may be bought or sold for any Access Person Account.

• No Affiliated Mutual Fund, except the Gabelli U.S. Treasury Money Market Fund and the Gabelli ABC Fund, may be bought and sold within a 30 calendar day holding period (measured on a last-in first-out basis) for a single Access Person Account.

• No Security or related Security may, within a 60 day period, be bought and sold or sold and bought at a profit for any Access Person Account if the Security or related Security was held at any time during that period in any Client account.

• No Security or related Security may, within a 30 calendar day holding period be bought and sold or sold and bought at a profit for any Access Person Account if the Security or related Security was held at any time during that period in any Client Account.

• No Affiliated Mutual Fund, except the Gabelli U.S. Treasury Money Market Fund and the Gabelli ABC Fund, may be bought and sold within a 60-calendar day period (measured on a last-in first-out basis) for a single Access Person Account.

More Definitions of Access Person Account

Access Person Account means (a) an account of the Access Person; (ii) an account of an immediate family member who shares the Access Person’s household; (iii) an account of another person who shares the Access Person’s household; (iv) an account of anyone to whose support the Access Person materially contributes; and (v) any other account over which the Access Person exercises a controlling influence. An Access Person Account does not include an account in which an Access Person has a Beneficial Interest but over which the Access Person does not exercise investment discretion or otherwise have any direct or indirect influence or control, provided that the procedures set forth below are followed.

Access Person Account means any securities account in which an access person has a direct or indirect beneficial interest.

Access Person Account means (i) a securities account of the Access Person; (ii) a securities account of a family member who shares the Access Person’s household; (iii) a securities account of another person who shares the Access Person’s household; (iv) a securities account of anyone to whose support the Access Person materially contributes; and (v) any other securities account (other than client accounts) over which the Access Person exercises investment discretion or a controlling influence. An Access Person Account does not include an account in which an Access Person has a Beneficial Interest but over which the Access Person does not exercise investment discretion or otherwise have any direct or indirect influence or control, provided that the procedures set forth below are followed. Exceptions to the definition may be granted by the Chief Compliance Officer on a case-by-case basis for pooled investment vehicles (such as mutual or hedge funds), in which one or more Access Persons own more than 25% of the equity interest, depending on the relative proportion of client investment and such other factors as the Chief Compliance Officer deems appropriate. Any such exception must be documented in a memorandum to be retained by the Chief Compliance Officer.

Access Person Account means any advisory, brokerage, trust, or other account or form of direct beneficial ownership in which one or more Access Persons and/or one or more members of an Access Person’s Immediate Family (as defined below) have a substantial proportionate economic interest. A substantial proportionate economic interest will generally be 10% of the principal amount in the case of an account in which only one Access Person has an interest, and 25% of the principal amount in the case of an account in which more than one Access Person has an interest, whichever is first applicable. Investment partnerships and similar indirect means of ownership are also included. As an exception, accounts in which one or more Access Persons and/or Immediate Family of Access Persons have a substantial proportionate interest which are maintained with persons who have no affiliation with the Firm or Affiliates of the Firm, and with respect to which no Access Person has, in the judgment of the Chief Compliance Officer after reviewing the terms and circumstances, any direct or indirect influence or control over the investment or portfolio execution process, are not Access Person Accounts.

Access Person Account means any securities account in which an access person has a beneficial interest.

Access Person Account means any account in which an Access Person has a direct or indirect Beneficial Ownership Interest in the Securities held in the account unless such an account is specifically excluded from this Code’s requirements by the CCO. An Access Person Account does not include any account over which the Access Person has no direct or indirect influence or control or in which transactions are effected without the Access Person’s prior notifications. Generally, it includes but is not limited to 1) each Access Person’s personal account; and 2) any account of any immediate family member sharing a household with the Access Person; or 3) any other account including a trust or partnership, over which the Access Person or her or his family member exercises investment discretion.