Exemptive relief is granted based on the following considerations: 1) the contribution was inadvertent, de minimis, and was returned; and (2) the contribution was made to a candidate for public office who never had the opportunity to influence the award of municipal securities business (Candidate was not an elected official, was never elected to the office for which he was a candidate, and he died during the election campaign).
Exemptive relief is denied based on the following considerations: (1) this marks the second time in three years that Name made a political contribution without following the Firm’s established pre-clearance processes resulting in a prohibition of municipal securities business under the Rule;5 and (2) Name has an extremely high profile within the Firm and the state’s political and business community. -
Exemptive relief is granted based on the following considerations: (1) the Contribution was made nine months after Name last held a position which would have resulted in his designation as an MFP; (2) since becoming a Title of Company C, Name continues to be designated an MFP only because of the Rule’s two-year “look back” provision; (3) at the time Name was a member of the Firm X Board, Name had no personal day-to-day involvement in Firm X's municipal securities activities, and, since resigning from the Firm X Board, Name has had no involvement in the Firm’s municipal securities business; and (4) , the Contribution was returned and was small.
Exemptive relief is granted based on the following factors: (1.) prior to Name's contribution, Firm X maintained a thorough and comprehensive set of procedures reasonably designed to ensure compliance with the Rule; (2.) the Firm had no knowledge of Name's contribution; (3.) once Firm X learned of Name's contribution, it took all available steps to return of the contribution; (4.) Firm X took appropriate remedial or preventive measures.
Exemptive relief is granted based on the following considerations: (1) the contributions were made prior to Individual's employment by the Firm; and (2) at the time of the contributions, Individual had no personal involvement in soliciting new, or participating in existing municipal securities business.
Exemptive relief is granted based on the following factors: (1) the Contribution was made by Company prior to signing an acquisition agreement with the Firm Parent;6 (2) at the time of the contribution Company had no involvement in soliciting new, or participating in existing, municipal securities business; (3) Company has been acquired by the Firm Parent and merged into Firm Y, an existing subsidiary of the Firm Parent that reports to and is controlled by the equities business unit of the Firm; (4) Firm Y securities information flow is controlled by NYSE approved information barriers designed to prevent the use of confidential information and conflicts of interest, minimizing the potential for quid pro quo resulting from the Contribution; (5) the Firm has put in place additional processes to ensure the segregation of the acquired Company business operations and its principals from State Business; and (6) although a less weighty factor, the Contribution was returned.
Exemptive relieve is granted based on the following considerations: (1) Firm A took prompt action once it became aware of the Contribution by instituting a self-ban on any Issuer new business solicitation; (2) Firm A sent an electronic reminder to all Firm A and Firm A affiliate employees about Firm A's requirements for pre-clearance of all political contributions; (3) at the time of the Contribution, Name had no personal involvement in soliciting new, or participating in existing, municipal securities business; (4) Firm A has now offered to put in place processes to help ensure the segregation of Issuer information flow, minimizing the potential for quid pro quo resulting from the contribution; and (5) although a less weighty factor, the contribution was returned.
An exemption is granted based on the following: (1) Name was not an MFP at the time the Contribution was made and was not involved in the solicitation of new municipal securities business; (2) the Firm took action once it became aware of the Contribution by voluntarily refraining from new State or its issuing authorities municipal securities business pending the outcome of the exemption request; (3) the Firm notified Name of his designation as an MFP and the accompanying restrictions; (4) the Firm has agreed to restrict Name's municipal securities activities, minimizing the potential for quid pro quo resulting from the Contribution; and (5) although a less weighty factor, the Contribution has been returned.
Exemptive relief is granted based on the following considerations: (1) Name was not an MFP at the time the Contribution was made and was not involved in the solicitation of new municipal securities business; (2) the Firm took action once it became aware of the Contribution by instituting a self-ban on new City municipal securities business; (3) the Firm notified Name of her designation as an MFP and the accompanying restrictions; (4) the Firm has agreed to establish information barriers to help ensure the segregation of information flow, minimizing the potential for quid pro quo resulting from the Contribution; (5) the Firm represents that it has corrected the technical political contributions database problems and has established new procedures for direct notification to legal and compliance personnel of additions to the Parent Management Committee; and (6) although the Contribution has not been returned, the Firm represents that reasonable efforts have been made to obtain the return of the Contribution.
Exemptive relief is granted based on the following: (1) Name was not an MFP at the time the Contribution was made and was not engaged in, and did not supervise, municipal securities business; (2) the Firm took action once it became aware of the Contribution by retaining outside counsel to review the proposed reorganization and the possibility of municipal securities business restrictions as a result of the Contribution; (3) the Firm notified Name that when the municipal activities of certain retail sales brokers and MFP’s become part of the Business Unit on Month Day, 2003, the Firm will consider her to be an MFP and her municipal securities business activities will be restricted as a result of her Contribution and of her responsibilities3; (4) the Firm has agreed to restrict Name’s municipal securities activities, minimizing the potential for a quid pro quo resulting from the Contribution; and (5) although a less weighty factor, the Contribution has been returned.
