Employee family investment restrictions relaxed for stock options, discretionary portfolio management, and private unlisted security transactions. Relaxation from the restriction on investment by an employee's family applies where the spouse acquires or disposes of equity under an employee stock options plan, and inadvertent technical violations by a spouse or dependent family member are not to be treated as misconduct affecting career progression, though monetary penalty may be imposed in appropriate cases. The restriction also does not apply where family members use discretionary portfolio management services with an independent fund manager, or acquire or dispose unlisted securities as part of private business or investment activity. If such unlisted securities are later listed, they may continue to be held, disposed of, or managed through discretionary portfolio management services.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Employee family investment restrictions relaxed for stock options, discretionary portfolio management, and private unlisted security transactions.
Relaxation from the restriction on investment by an employee's family applies where the spouse acquires or disposes of equity under an employee stock options plan, and inadvertent technical violations by a spouse or dependent family member are not to be treated as misconduct affecting career progression, though monetary penalty may be imposed in appropriate cases. The restriction also does not apply where family members use discretionary portfolio management services with an independent fund manager, or acquire or dispose unlisted securities as part of private business or investment activity. If such unlisted securities are later listed, they may continue to be held, disposed of, or managed through discretionary portfolio management services.
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