Exempt Security means any security that is expressly exempted from the preclearance or reporting requirements of the Code, where applicable.
Exempt Security means certain securities, or securities obtained in transactions, that are not considered Covered Securities and, therefore, are exempt from the pre-clearance and reporting requirements of this Code. The following are Exempt Securities: (a) Direct obligations of the Government of the United States; 8 See also SEC Rule 16a-1(a) under the Exchange Act. 9 Specifically, the 1940 Act defines a security as “any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a “security”, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.” 10 In other words, if MetWest trades “IBM 5 3/8 2/1/09” on behalf of a client, that trade shall be considered to cover all other IBM bonds as well. 5 Code of Ethics – November 2008 (b) Money market instruments — bankers’ acceptances, bank certificates of deposit, commercial paper, repurchase agreements and other high quality short-term debt instruments; (c) Shares of money market funds; (d) shares in open-end investment companies other than Reportable Funds (i.e., mutual funds advised by MetWest or any affiliate); (e) Transactions in units of a unit investment trust if the unit investment trust is invested exclusively in unaffiliated mutual funds; and (f) securities purchased on behalf of an Access Person for an account over which the Access Person has no direct or indirect influence or control. Shares of the Metropolitan West Funds (and any other mutual fund sub-advised by MetWest) ARE NOT Exempt Securities under this Code. Any trades in MWF or a sub-advised Fund by any Access Person must either be permitted by the terms of this Code or receive prior approval using the applicable proced...
Exempt Security means (i) direct obligations of the Government of the United States; (ii) bankers’ acceptances, bank certificates of deposit, commercial paper and high quality short-term debt instruments, including repurchase agreements; and (iii) shares of open-end investment companies with the exception of exchange-traded funds and the Funds, which are subject to various provisions of the Code as noted herein. In addition, as may be determined by the Chief Compliance Officer, a futures transaction and an option on certain broad-based securities indices will be deemed an “Exempt Security.”
Examples of Exempt Security in a sentence
This Code uses a number of capitalized terms, e.g. Advisory Employee, Beneficial Ownership, Designated Equity Security, Exempt Security, Fixed Income Security, Fund, Futures Contract, Immediate Family, Initial Public Offering, Investment Transaction, Personal Account, Portfolio Employee, Private Placement, Qualified Foreign Government, Related Account, Related Security, and Security.
You may engage in transactions in any Exempt Security without obtaining pre-clearance.
Access Persons wishing to enter a limit order for a Security that is neither an Exempt Security nor can be bought or sold in an Exempt Transaction are only permitted to enter limit orders that are good for the day they are entered (“Day Order”).
Any financial instrument, other than an Exempt Security (as defined below) treated as a security for investment purposes and any related instrument such as a futures, forward or swap contract entered into with respect to one or more securities, a basket of or an index of securities or components of securities.
This exemption from reporting will end immediately, however, at such time as there is an Investment Transaction in that account in a Security that is not an Exempt Security.
More Definitions of Exempt Security
Exempt Security means any: (1) direct obligation of the Government of the United States, including all state and municipal obligations; (2) bankers’ acceptance, bank certificate of deposit, commercial paper, bank repurchase agreement and other high quality short-term debt instrument; (3) shares issued by registered open-end mutual funds (including money-market funds) and unit investment trusts, in each case provided they are not Reportable Funds or ETFs (as defined herein); and (4) Securities in an account over which you do not have any direct or indirect influence or Control (note that there is a presumption that you can exert some measure of influence or control over accounts held by members of your immediate family sharing the same household, but this presumption may be rebutted by convincing evidence acceptable to the Chief Compliance Officer in accordance with this Code).
Exempt Security means any security issued by the government of the United States or its agencies and instrumentalities, bankers' acceptances, bank certificates of deposit, commercial paper, other high quality short-term debt instruments, or shares of open-end investment companies. In addition, as may be determined by the Compliance Officer, certain futures transactions and options on certain broad-based securities indices will be deemed an "Exempt Security."
Exempt Security means: (i) direct obligations of the U.S. Government (or any other "government security" as that term is defined in the Investment Company Act of 1940, as amended (the "Investment Company Act"), bankers’ acceptances, bank certificates of deposit, commercial paper and High-Quality Short-Term Debt Instruments, including repurchase agreements, and shares of registered open-end investment companies, (ii) securities purchased or sold in any account over which the Access Person has no direct or indirect influence or control, (iii) securities purchased or sold in a transaction that is non-volitional on the part of the Access Person, including mergers, recapitalizations or similar transactions, and (iv) securities acquired as a part of an Automatic Investment Plan.
Exempt Security means (i) direct obligations of the Government of the United States, (ii) bankers’ acceptances, bank certificates of deposit, commercial paper and other high quality short-term debt instruments, including repurchase agreements, or (iii) shares of open-end investment companies with the exception of exchange-traded funds and the Funds, which are
Exempt Security means a Security purchased or sold in a transaction over which the Access Person has no control, Securities acquired under an automatic dividend plan, and Securities which a Fund is not permitted to purchase under the investment objectives set forth in that Fund's then current prospectus. Access Persons are deemed to have control over trusts which they may revoke, and brokerage and investment advisory or brokerage accounts owned by them or their Immediate Family, even if the trustee, investment advisor or broker of those accounts does not consult the Access Person with respect to transactions.
Exempt Security means: Government securities (as defined by Section 2(a)(16) of the 1940 Act); shares of registered open-end investment companies; securities that are not eligible for purchase or sale by any Fund; and any other security that KAM's Ethics Committee from time to time may designate as an Exempt Security.