Resolution 6506 - Laserfiche WebLink

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. . . 2. Ethics and C01?tlicls (?t1111/!/"CSI The Treasurer OCficers and employee~; inyol';ed in the investment proee~;s shall refi'ain from personal business activity that could conflict with the proper execution and management ofthe investment program. or that could impair their ability to make impmtial decisions. The Treasurer Officers and employee:; shall disclose any material interests in financial institutions \"ith which they conduct business. They shall further disclose any personal financial/investment positions that could be related to the performance of the investment p0l1folio. The Treasurer Officers and employees shall reCrain from undeltaking personal investment transactions with the same individual with whom business is conducted on behalf of the City. 3. Delegal ion qj'A /II hori~\' Authority to manage the investment program is granted to the Finance Director hereinafter rcrerred to as--tHe Treasurer and derived fi'om the following: Annual Resolution Appointing Official Newspaper. Acting Mayor. Official Depository. and Treasurer. Responsibility for the operation of the investment program is hereby delegated to the Treasurer. who shall act in accordance with established written procedures and internal controls for the operation of the investment program consistent with this investment policy. Procedures should include relerences to: safekeeping. delivery vs. payment. investment accounting. repurchase agreements. wire transfer agreements, and collateral/depository agreements. [Please refer to GFOA's 1II1'est111elll Procedures A/milia!. :l003.} No person may engage in an investment transaction except as provided under the terms of this policy and the procedures established by the Treasurer. The Treasurer shall be responsible for all transactions undertaken and shall establish a system oC controls to regulate the activities of subordinate orticials. V. Authorized Financial Institutions, Depositories, and Brokerillealers I. A/llhori::.ed Final1c;alll1stilutiol1s, Depositories, and Brokeli'Dcal/!/"s A list will be maintained of financial institutions and depositories authorized to provide investment services. In addition. a list will be maintained of approved security broker/dealers selected by creditw0l1hiness (e.g., a min imum capital requirement of $ I 0.000.000 and at least five years of operation). These may include "primary" dealers or regional dealers that quali(y under Securities and Exchange Commission (SEC) Rule 15C3-1 (unili.mn net capital rule). Alllinancial institutions and broker/dealers who desire to become qualified for investment transactions must supply the following as appropriate: . Audited financial statements demonstrating compliance with state and federal capital adequacy guidelines . Proof of National Association of Securities Dealers (NASD) cel1ification (not applicable to Certilicate of Deposit counterpmiies) . Proof of state registration . Completed broker/dealer questionnaire (not applicable to Certificate of Deposit counterpaJiies) . Certification of having read and understood and agreeing to comply with the r entity'sJ investment policy. . l:vidence of adequate insurance coverage. An annual review of the financial condition and registration of all qualilicd financial institutions and broker/dealers will be conducted by the Treasurer. (See Appendix for the GFOA Recommended Practice on "Governmental Relationships with Securities Dealers.")