Internal committee settlement review assesses compliance, investor protection, and market integrity before settlement terms receive advisory consideration.

Settlement applications are referred to the Internal Committee to assess whether proceedings may be settled and to determine settlement terms. The Committee may obtain information, require personal or virtual appearance, assess market impact, investor loss, and market integrity, and verify disgorgement, investor exit options, and compliance with securities laws. It may permit revised terms within twenty-one days and require an Asset Management Company or investment manager to pay settlement amounts for a Pooled Investment Vehicle. Post-meeting terms and recommendations are placed before the High Powered Advisory Committee.

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