MANAGED ACCOUNTS

3280. Conflicts of interest

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    1. A responsible person or a Dealer Member must not trade for his or her or the Dealer Member’s own account, or knowingly permit or arrange any associate or affiliate to trade, in reliance upon information relating to trades made or to be made in a managed account.  

    2. A responsible person or a Dealer Member must not, without the prior written consent of the client, knowingly allow a managed account to:

      1. invest in a security or derivative  of a security of an issuer that is related or connected to a responsible person or to the Dealer Member

      2. invest in a security or derivative of a security of an issuer if the individuals authorized under subsection 3279(1) to deal with managed accounts is an officer or director of the issuer, unless the position with the issuer is disclosed to the client, or

      3. invest in new issues or secondary offerings underwritten by the Dealer Member.

    3. A responsible person or a Dealer Member must not knowingly cause any managed account to: 

      1. purchase or sell a security or derivative of a security of an issuer from or to the account of a Portfolio Manager, an Associate Portfolio Manager or an associate of a Portfolio Manager or an associate of an Associate Portfolio Manager,

      2. purchase or sell a security or derivative of a security of an issuer from or to an investment fund for which a responsible person acts as an adviser, or

      3. provide a guarantee or loan to a responsible person or an associate of a responsible person.

    4. A Dealer Member must fairly allocate investment opportunities among its managed accounts.

    There is no history log for this rule.

    There is no history log for this rule.