Examples of Front Running in a sentence
Front Running is the practice of effecting the purchase or sale of a Security for personal benefit based on the knowledge of one or more impending Client transaction(s) in the same or equivalent Security.
Front Running is inconsistent with our responsibility to serve the interests of clients.
To help prevent Front Running, Scalping, and other trading abuses and actual or potential conflicts of interest, no Employee of NYLIM (or account in which an Employee has any direct or indirect Beneficial Ownership interest) may purchase or sell, directly or indirectly, Covered Securities without prior approval of the CCO or LCO (except pursuant to the exceptions in Section 3.2 below).
For example, an access person who engages in Front Running (as hereinafter defined) or a Fund portfolio manager who makes investment decisions for a Fund with the intent to benefit personally would, in addition to violating Rule 17j-1, violate the antifraud provisions of Section 17(a) of the Securities Act of 1933, as amended (“ Securities Act”), Section 10(b) of the Securities Exchange Act of 1934, as amended (“Exchange Act”) and Exchange Act Rule 10b-5.
If you violate the trading restrictions of a non-Price Fund, the Ethics Committee may impose the same penalties available for violation of the Price Funds excessive trading Policy.FRONT RUNNING Front Running is inconsistent with our responsibility to serve the interests of clients.