Amendment ID: S17-14

Amendment 14

Strengthening Prohibitions on Confidential Information Usage

Mr. Keenan moves to amend the report in Rule 10 by striking paragraph 2 and inserting in place thereof the following paragraph:- "No member, officer or employee shall directly or indirectly engage in financial transactions based on or using confidential or material nonpublic information accessed, obtained or gained in the course of or by reason of the member, officer or employee’s official position or activities to further the member, the member’s immediate family, officer or employee’s financial interest or those of any other person. Information is considered 'material' if a member could expect that a reasonable investor would attach significance to the information in reaching an investment decision."