Examples of Initial Coin Offering in a sentence
Access Persons may not acquire securities in an Initial Public Offering (“IPO”), Initial Coin Offering (“ICO”), Securitized Coin Offering (“SCO”) or Private Placement unless prior written approval is obtained from the Compliance Officer, and, in the determination of the Compliance Officer, participation does not present a conflict of interest with any Clients or impede the equitable distribution of the offering to the public.
Pre-Clear?Equity Securities Yes YesCorporate Debt Securities Yes YesInvestment Trusts Yes YesMunicipal Bonds Yes YesOptions on Reportable Securities Yes YesSelf-directed Reportable Securities transactions in Automatic Investment Plans Yes YesVirtual Coins or Tokens acquired through an Initial Coin Offering (“ICO”) or those acquired through a secondary token offering.
Reporting Persons may, subject to pre-clearance requirements, purchase shares in a Private Placement or acquire virtual “coins” or “tokens” in an Initial Coin Offering (“ICO”) that is conducted as a Private Placement as long as the position will be less than a 10% voting interest in the issuer, or 10% of the ICO, and is otherwise permitted under the Policy on Directorships and Other Outside Employment as set forth in the Wells Fargo Code of Ethics and Business Conduct.
In accordance with SEC regulation, Access Persons may not acquire any securities, including cryptocurrencies deemed to be securities, issued as part of an IPO, Initial Coin Offering “ICO”, or a Limited Offering, absent prior approval by the CCO or the CCO’s designee using the form attached as Appendix C.
Similarly, access persons may not dispose, directly or indirectly, of any Tokens offered through an Initial Coin Offering without the prior written approval in writing from the Compliance Officer.