Examples of Prohibited Securities in a sentence
Ownership of mutual funds by ISO Employees that contain Prohibited Securities is permitted provided: (i) the fund is publicly traded; (ii) the fund’s prospectus does not indicate the objective or practice of concentrating its investment in Market Participants or their Affiliates; and (iii) the ISO Employee does not exercise or have the ability to exercise control over the financial interests held by the fund.
Except as provided in Section 12.8.1, if an ISO Employee or his/her immediate family member owns, controls or has the power to vote Prohibited Securities, the ISO Employee or his/her immediate family member must, within the timeframe set forth below, either (i) divest the Prohibited Securities or (ii) transfer the Prohibited Securities to a single blind trust if they qualify for this option unless material hardship would result.
I have no financial interest in Prohibited Securities other than those I still have time to divest or transfer to a blind trust in accordance with the ISO’s policy in Section 12.8.2 to this Attachment F (or if I do, I have been granted a hardship exception).
SPP will maintain a listing of Third Party entities and publicly-traded Prohibited Securities for SPP employees’ reference.
SPP employees may indirectly own publicly-traded Prohibited Securities through a mutual fund, blind trust, or similar arrangement under which the SPP employee does not control the purchase or sale of such Prohibited Securities, except for any fund or arrangement specifically targeted towards the electric utility industry, or any segments thereof.
Prohibited Securities shall qualify for a blind trust if: (1) the publicly traded company’s NAICS code is not within the “Electric Power Generation, Transmission, and Distribution” industry group, and (2) the total activity in the ISO Administered Markets (purchases and sales) for all Market Participants affiliated with the publicly traded companyduring its most recently completed fiscal year is less than 0.5% of its gross revenues for the same time period.
Employees shall not be an employee, director, consultant or contractor of, and shall have no interest in any Third Party, or any of its Affiliates, which shall be deemed to include ownership (outside of a mutual fund, blind trust, or similar arrangement as permitted herein) by an employee or his/her immediate family members of Prohibited Securities.
SPP directors may indirectly own publicly-traded Prohibited Securities through a mutual fund, blind trust, or similar arrangement under which the SPP director does not control the purchase or sale of such Prohibited Securities, except for any fund or arrangement specifically targeted towards the electric utility industry, or any segments thereof.
SPP will maintain a listing of Third Party entities and publicly-traded Prohibited Securities for SPP directors’ reference.
Prohibited Securities Transactions Directors and executive officers of the Corporation are prohibited from purchasing financial instruments, including, for greater certainty, prepaid variable forward contracts, equity swaps, collars or units of exchange funds, that are designed to hedge or offset a decrease in the market value of equity securities granted as compensation or held, directly or indirectly, by an executive officer or a director.