Wis. Admin. Code Investment Board IB 1.05 - Personal investments by employees of the board

(1) Employees may not directly or indirectly purchase or hold any stock or convertible bond being sold as a new issue at the time it is offered to the public for the first time. An employee may purchase and own a stock or convertible bond which was offered to the public for the first time if the employee purchases it after it is publicly traded.

(2) An employee may purchase or sell any other investment when in compliance with requirements of this chapter if the employee obtains advance written approval from the executive director. The executive director may delegate authority to approve employee personal investment transactions to the chief investment officer, assistant executive director, legal counsel, or an investment director. The employee must confirm that the purchase or sale is not based upon confidential information of the board. Permission for the purchase or sale shall be granted if the purchase or sale is not found to be in conflict with the board's interests or applicable legal and professional codes, guidelines, and regulations.

(3) Procedures for preclearance and monitoring of employee personal investments may be established by the executive director to implement any applicable legal, regulatory, agency guideline or professional code standards or requirements.

Notes

Wis. Admin. Code Investment Board IB 1.05

Cr. Register, August, 1983, No. 332, eff. 9-1-83; am. (1) and (2), cr. (3), Register, May, 1998, No. 509, eff. 6-1-98.

Personal investment approval request forms may be obtained from the executive director of the investment board.