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– Release Delayed ·As Of Filer Filing For·On·As Docs:Size Issuer Agent 10/08/09 Schwab Strategic Trust N-1A/A¶ 16:1.9M Donnelley … Solutions/FA → Schwab Emerging Markets Equity ETF ⇒ SCHE → Schwab International Equity ETF ⇒ SCHF → Schwab International Small-Cap Equity ETF ⇒ SCHC → Schwab U.S. Broad Market ETF ⇒ SCHB → Schwab U.S. Large-Cap ETF ⇒ SCHX → Schwab U.S. Large-Cap Growth ETF ⇒ SCHG → Schwab U.S. Large-Cap Value ETF ⇒ SCHV → Schwab U.S. Small-Cap ETF ⇒ SCHA |
Document/Exhibit Description Pages Size 1: N-1A/A Pre-Effective Amendment to Registration Statement HTML 674K by an Open-End Management Investment Company 16: COVER ¶ Comment-Response or Cover Letter to the SEC HTML 4K 2: EX-99.D Miscellaneous Exhibit HTML 46K 3: EX-99.E Miscellaneous Exhibit HTML 73K 4: EX-99.G.1 Miscellaneous Exhibit HTML 271K 5: EX-99.G.2 Miscellaneous Exhibit HTML 29K 6: EX-99.H.1 Miscellaneous Exhibit HTML 98K 7: EX-99.H.2 Miscellaneous Exhibit HTML 109K 8: EX-99.H.3 Miscellaneous Exhibit HTML 81K 9: EX-99.H.4 Miscellaneous Exhibit HTML 80K 10: EX-99.H.5 Miscellaneous Exhibit HTML 25K 11: EX-99.H.6 Miscellaneous Exhibit HTML 63K 12: EX-99.H.7 Miscellaneous Exhibit HTML 25K 13: EX-99.M Miscellaneous Exhibit HTML 20K 14: EX-99.P.1 Miscellaneous Exhibit HTML 72K 15: EX-99.P.2 Miscellaneous Exhibit HTML 98K
exv99wpw2 |
I. General Policy |
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II. Code of Ethics |
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A. Purpose of Code |
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B. Employee Categories |
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C. Prohibitions and Restrictions |
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D. Pre-clearance of Personal Securities Transactions |
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E. Reporting Requirements |
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F. Detection and Reporting of Code Violations |
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G. Violations of the Code of Ethics |
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H. Confidential Treatment |
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I. Recordkeeping |
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J. Definitions Applicable to the Code of Ethics |
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III. Exhibits — Code of Ethics Reporting Forms |
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A. | Purpose of Code |
B. | Access Persons |
C. | Prohibitions and Restrictions |
1. | Prohibition Against Fraud, Deceit and Manipulation |
Access Persons may not, directly or indirectly, in connection with the purchase or sale of a security held or to be acquired by an Investment Vehicle for which SIDCO serves as principal underwriter: |
2. | Excessive Trading of Mutual Fund Shares |
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3. | Personal Securities Restrictions | ||
Access Persons: |
• | may not purchase or sell, directly or indirectly, any Covered Security within 24 hours before or after the time that the same Covered Security (including any equity related security of the same issuer such as preferred stock, options, warrants and convertible bonds) is being purchased or sold by any Investment Vehicle for which SIDCO serves as principal underwriter. | ||
• | may not acquire securities as part of an Initial Public Offering (“IPO”) without obtaining the written approval of the SIDCO Compliance Officer or the designated representative of the SIDCO Compliance Department before directly or indirectly acquiring a beneficial ownership in such securities. | ||
• | may not acquire a Beneficial Ownership interest in securities issued in a private placement transaction without obtaining prior written approval from the SIDCO Compliance Officer or the designated representative of the SIDCO Compliance Department. | ||
• | may not profit from the purchase and sale or sale and purchase of a Covered Security within 60 days of acquiring or disposing of Beneficial Ownership of that Covered Security. This prohibition does not apply to transactions resulting in a loss, or to futures or options on futures on broad-based securities indexes or U.S. Government securities. This prohibition also does not apply to transactions in the |
1 | The SEI Family of Funds includes the following Trusts: SEI Asset Allocation Trust, SEI Daily Income Trust, SEI Index Funds, SEI Institutional International Trust, SEI Institutional Investments Trust, SEI Institutional Managed Trust, SEI Liquid Asset Trust and SEI Tax Exempt Trust. |
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SEI Funds, which are separately covered under the “Excessive Trading of Mutual Fund Shares” discussed in Section II.C.2 above. | |||
• | may not serve on the board of directors of any publicly traded company. |
D. | Pre-Clearance of Personal Securities Transactions |
1. | Transactions Required to be Pre-Cleared: |
• | Access Persons must pre-clear with the SIDCO Compliance Officer or the designated representative of the SIDCO Compliance Department a proposed transaction in a Covered Security if he or she has actual knowledge at the time of the transaction that, during the 24 hour period immediately preceding or following the transaction, the Covered Security was purchased or sold or was being considered for purchase or sale by any Investment Vehicle. The pre-clearance obligation applies to all Accounts held in the person’s name or in the name of others in which they hold a Beneficial Ownership interest. Note that, among other things, this means that these persons must pre-clear such proposed securities transactions by their spouse or domestic partner, minor children, and relatives who reside in the person’s household. | ||
• | The SIDCO Compliance Officer or designated representative of the SIDCO Compliance Department may authorize a Pre-clearing Person to conduct the requested trade upon determining that the transaction for which pre-clearance is requested would not result in a conflict of interest or violate any other policy embodied in this Code. Factors to be considered may include: the discussion with the requesting person as to the background for the exemption request, the requesting person’s work role, the size and holding period of the requesting person’s position in the security, the market capitalization of the issuer, the liquidity of the security, the reason for the requesting person’s requested transaction, the amount and timing of client trading in the same or a related security, and other relevant factors. The person granting the authorization must document the basis for the authorization. |
2. | Transactions that do no have to be pre-cleared: |
• | purchases or sales over which the person pre-clearing the transactions (the “Pre-clearing Person”) has no direct or indirect influence or control; | ||
• | purchases, sales or other acquisitions of Covered Securities which are non-volitional on the part of the Pre-clearing Person or any Investment Vehicle, such as purchases or sales upon exercise or puts or calls written by Pre-clearing Person, sales from a margin account pursuant to a bonafide margin call, stock dividends, stock splits, mergers consolidations, spin-offs, or other similar corporate reorganizations or distributions; |
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• | purchases or withdrawals made pursuant to an Automatic Investment Program; however, any transaction that overrides the preset schedule or allocations of the automatic investment plan must be reported in a quarterly transaction report; | ||
• | purchases effected upon the exercise of rights issued by an issuer pro rata to all holders of a class of its securities, to the extent such rights were acquired for such issuer; and | ||
• | acquisitions of Covered Securities through gifts or bequests. |
3. | Pre-clearance Procedures: |
• | All requests for pre-clearance of securities transactions must be submitted to the SIDCO Compliance Officer or designated representative of the SIDCO Compliance Department by using the SEI Automated Pre-Clearance Trading system. | ||
• | The following information must be provided for each request: |
• | The SIDCO Compliance Officer or designated representative of the SIDCO Compliance Department will notify the requesting person whether the trading request is approved or denied through the SEI Automated Pre-Clearance Trading system. | ||
• | A Pre-clearance Request should not be submitted for a transaction that the requesting person does not intend to execute. | ||
• | Pre-clearance trading authorization is valid from the time when approval is granted through the next business day. If the transaction is not executed within this period, an explanation of why the previous pre-cleared transaction was not completed must be submitted to the SIDCO Compliance department or entered into the SEI Automated Pre-clearance Trading system. Also, Open and Limit Orders must be resubmitted for pre-clearance approval if not executed within the permitted time period. | ||
• | With respect to any transaction requiring pre-clearance, the person subject to pre-clearance must submit to the SIDCO Compliance Officer or designated representative of the SIDCO Compliance Department transaction reports showing the transactions for all the Investment |
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Vehicles with respect to which such person has knowledge regarding purchases and sales that triggered the requirement to pre-clear under Section D.1. The transaction information must be provided for the 24 hour period before and after the date on which their securities transactions were effected. These reports may be submitted in hard copy or viewed through the SEI Pre-clearance Trading system. Transaction reports need only cover the Investment Vehicles that hold or are eligible to purchase and sell the types of securities proposed to be bought or sold by person subject to pre-clearance requirements. For example, if a person seeks approval for a proposed equity trade, only the transactions reports for the Investment Vehicles effecting or eligible to effect transactions in equity securities are required. | |||
• | The SIDCO Compliance Department will maintain pre-clearance records and records of exemptions granted for 5 years. |
E. | Reporting Requirements |
1. | Duplicate Brokerage Statements |
• | Access Persons are required to instruct their broker/dealer to file duplicate statements with the SIDCO Compliance Department at SEI Oaks. Statements must be filed for all Accounts (including those in which the person has a Beneficial Ownership interest), except those that trade exclusively in open-end funds other than Reportable Funds, government securities or Automatic Investment Plans. Failure of a broker/dealer to send duplicate statements will not excuse a violation of this Section. | ||
• | Sample letters instructing the broker/dealer firms to send the statements to SIDCO are attached in Exhibit 1 of this Code. If the broker/dealer requires a letter authorizing a SIDCO employee to open an account, the permission letter may also be found in Exhibit 1. Please complete the necessary brokerage information and forward a signature ready copy to the SIDCO Compliance Officer. | ||
• | If no such duplicate statement can be supplied, the employee should contact the SIDCO Compliance Department. |
2. | Initial Holdings Report |
• | Access Persons must submit an Initial Holdings Report to the SIDCO Compliance Officer or designated representative of the SIDCO Compliance Department disclosing every Covered Security, including mutual fund accounts, beneficially owned directly or indirectly by such person within 10 days of becoming an Access Person. Any person who returns the report late may be subject to the penalties in Section G regarding Code of Ethics violations. | ||
• | The following information must be provided on the report: |
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• | The Initial Holdings Report is attached as Exhibit 2 to this Code. |
3. | Quarterly Report of Securities Transactions |
• | Access Persons must submit quarterly transaction reports of the purchases and/or sales of Covered Securities in which such persons have a direct or indirect Beneficial Ownership interest. The report will be provided to all of the above defined persons before the end of each quarter by the SIDCO Compliance Officer or designated representative of the SIDCO Compliance Department and must be completed and returned no later than 30 days after the end of each calendar quarter. Quarterly Transaction Reports that are not returned by the date they are due will be considered late and will be noted as violations of the Code of Ethics. Any person who repeatedly returns the reports late may be subject to the penalties in Section G regarding Code of Ethics violations. | ||
• | The following information must be provided on the report: |
• | The Quarterly Report of Securities Transaction is attached as Exhibit 3 to this Code. |
4. | Annual Report of Securities Holdings |
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• | On an annual basis, Access Persons must submit to the SIDCO Compliance Officer or designated representative of the SIDCO Compliance Department an Annual Report of Securities Holdings that contains a list of all Covered Securities, including mutual fund accounts, in which they have any direct or indirect Beneficial Ownership interest. | ||
• | The following information must be provided on the report: |
• | Annual Reports must be completed and returned to the SIDCO Compliance Officer or designated representative of the SIDCO Compliance Department within 30 days after the end of the calendar year-end. Annual Reports that are not returned by the date they are due will be considered late and will be noted as violations of the Code of Ethics. Any person who repeatedly returns the reports late may be subject to the penalties in Section G regarding Code of Ethics violations. | ||
• | The Annual Report of Securities Holdings is attached as Exhibit 4 to this Code. |
5. | Annual Certification of Compliance |
• | Access Persons will be required to certify annually that they: |
• | The SIDCO Compliance Officer or designated representative from the SIDCO Compliance Department will send out annual forms to all Access Persons that must be completed and returned no later than 30 days after the end of the calendar year. Any person who repeatedly returns the forms late may be subject to the penalties in Section G regarding Code of Ethics violations. |
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• | The Annual Certification of Compliance is attached as Exhibit 5 to this Code. |
6. | Exception to Reporting Requirements |
• | An Access Person who is subject to the Code of Ethics of an affiliate of SIDCO (“Affiliate Code”), and who pursuant to the Affiliate Code submits reports consistent with the reporting requirements of paragraphs 1 through 4 above, will not be required to submit such reports under this Code. |
F. | Detection and Reporting of Code Violations |
1. | The SIDCO Compliance Officer or designated representative of the SIDCO Compliance Department will: |
• | review the personal securities transaction reports or duplicate statements filed by Access Persons and compare the reports or statements of the Investment Vehicles’ completed portfolio transactions. The review will be performed on a quarterly basis. If the SIDCO Compliance Officer or the designated representative of the SIDCO Compliance Department determines that a compliance violation may have occurred, the Officer will give the person an opportunity to supply explanatory material; | ||
• | prepare an Annual Issues and Certification Report to the Board of Trustees or Directors of any Investment Vehicle that (1) describes the issues that arose during the year under this Code, including, but not limited to, material violations of and sanctions under the Code, and (2) certifies that SIDCO has adopted procedures reasonably necessary to prevent its Access Persons from violating this Code; | ||
• | prepare a written report to SIDCO management outlining any violations of the Code together with recommendations for the appropriate penalties; and | ||
• | prepare a written report detailing any approval(s) granted for the purchase of securities offered in connection with an IPO or a private placement. The report must include the rationale supporting any decision to approve such a purchase. |
2. | An employee who in good faith reports illegal or unethical behavior will not be subject to reprisal or retaliation for making the report. Retaliation is a serious violation of this policy and any concern about retaliation should be reported immediately. Any person found to have retaliated against an employee for reporting violations will be subject to appropriate disciplinary action. |
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G. | Violations of the Code of Ethics |
1. | Penalties: |
• | Persons who violate the Code of Ethics may be subject to serious penalties, which may include: |
§ | written warning; | ||
§ | reversal of securities transactions; | ||
§ | restriction of trading privileges; | ||
§ | disgorgement of trading profits; | ||
§ | fines; | ||
§ | suspension or termination of employment; and/or | ||
§ | referral to regulatory or law enforcement agencies. |
2. | Penalty Factors: |
• | Factors which may be considered in determining an appropriate penalty include, but are not limited to: |
§ | the harm to clients; | ||
§ | the frequency of occurrence; | ||
§ | the degree of personal benefit to the employee; | ||
§ | the degree of conflict of interest; | ||
§ | the extent of unjust enrichment; | ||
§ | evidence of fraud, violation of law, or reckless disregard of a regulatory requirement; and/or | ||
§ | the level of accurate, honest and timely cooperation from the employee. |
H. | Confidential Treatment |
• | The SIDCO Compliance Officer or designated representative from the SIDCO Compliance Department will use their best efforts to assure that all requests for pre-clearance, all personal securities reports and all reports for securities holding are treated as personal and confidential. However, such documents will be available for inspection by appropriate regulatory agencies and other parties, such as counsel, within and outside SIDCO as necessary to evaluate compliance with or sanctions under this Code. |
I. | Recordkeeping |
• | SIDCO will maintain records relating to this Code of Ethics in accordance with Rule 31a-2 under the 1940 Act. They will be available for examination by representatives of the Securities and Exchange Commission and other regulatory agencies. | ||
• | A copy of this Code that is, or at any time within the past five years has been, in effect will be preserved in an easily accessible place for a period of five years. |
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• | A record of any Code violation and of any sanctions taken will be preserved in an easily accessible place for a period of at least five years following the end of the fiscal year in which the violation occurred. | ||
• | A copy of each Quarterly Transaction Report, Initial Holdings Report, and Annual Holdings Report submitted under this Code, including any information provided in lieu of any such reports made under the Code, will be preserved for a period of at least five years from the end of the fiscal year in which it is made, for the first two years in an easily accessible place. | ||
• | A record of all persons, currently or within the past five years, who are or were required to submit reports under this Code, or who are or were responsible for reviewing these reports, will be maintained in an easily accessible place for a period of at least five years from the end of the calendar year in which it is made. |
• | Account — a securities trading account held by a person and by any such person’s spouse, minor children and adults residing in his or her household (each such person, an “immediate family member”); any trust for which the person is a trustee or from which the person benefits directly or indirectly; any partnership (general, limited or otherwise) of which the person is a general partner or a principal of the general partner; and any other account over which the person exercises investment discretion. | ||
• | Automatic Investment Plan — a program in which regular periodic purchases (or withdrawals) are made automatically in (or from) investment accounts in accordance with a predetermined schedule and allocation. An Automatic Investment Plan includes a dividend reinvestment plan. | ||
• | Beneficial Ownership — Covered Security ownership in which a person has a direct or indirect financial interest. Generally, a person will be regarded as a beneficial owner of Covered Securities that are held in the name of: |
a. | a spouse or domestic partner; | ||
c. | a relative who resides in the person’s household; or | ||
d. | any other person IF: (a) the person obtains
from the securities benefits substantially similar to those of ownership
(for example, income from securities that are held by a spouse); or (b)
the person can obtain title to the securities now or in the future. |
• | Covered Security — except as noted below, includes any interest or instrument commonly known as a “security”, including notes, bonds, stocks (including closed-end funds), debentures, convertibles, preferred stock, security future, warrants, rights, and any put, call, straddle, option, |
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or privilege on any security (including a certificate of deposit) or on any group or index of securities. The term “Covered Securities” specifically includes the SEI Funds. See the definition of Reportable Funds below. | |||
A “Covered Security” does not include (i) direct obligations of the U.S. Government, (ii) bankers’ acceptances, (iii) bank certificates of deposit, (iv) commercial paper and other high quality short-term debt instruments, including repurchase agreements, (v) shares issued by money market funds and (vi) shares issued by open-end investment companies other than a Reportable Fund. | |||
• | Initial Public Offering — an offering of securities for which a registration statement has not been previously filed with the U.S. SEC and for which there is no active public market in the shares. | ||
• | Purchase or sale of a Covered Security — includes the writing of an option to purchase or sell a security. | ||
• | Reportable Fund — Any non-money market fund for which SIDCO serves as principal underwriter. | ||
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Exhibit 1
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Account Opening Letters to Brokers/Dealers | |
Exhibit 2
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Initial Holdings Report | |
Exhibit 3
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Quarterly Transaction Report | |
Exhibit 4
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Annual Securities Holdings Report | |
Exhibit 5
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Annual Compliance Certification | |
Exhibit 6
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SIDCO Client List |
Re: | Your Name your S.S. number or account number |
Re: | Employee Name Account # SS# |
Name of Reporting Person:
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Date Person Became Subject to the Code’s Reporting |
Requirements:
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Information in Report Dated as of:
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Date Report Due:
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Date Report Submitted:
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Principal Amount, Maturity | ||||||
Name of Issuer and Title | No. of Shares (if | Date and Interest Rate (if | Name of Broker, Dealer or Bank | |||
of Security | applicable) | applicable) | Where Security Held | |||
Name of Broker, Dealer or | ||||||
Bank | Account Number | Names on Account | Type of Account | |||
Signature:
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Date: | |||||||
Received by: |
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Name:
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Submission Date:
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Name of | ||||||||||||
Principal Amount, | Broker, Dealer | |||||||||||
Name of Issuer | Maturity Date and | or Bank | ||||||||||
Date of | and Title of | No. of Shares (if | Interest Rate (if | Type of | Effecting | |||||||
Transaction | Security | applicable) | applicable) | Transaction | Price | Transaction | ||||||
Name of Broker, Dealer | Date Account was | |||||||
or Bank | Account Number | Names on Account | Established | Type of Account | ||||
Signature:
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Received by:
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Principal Amount, | ||||||
Maturity Date and | ||||||
No. of Shares (if | Interest Rate (if | Name of Broker, Dealer or Bank | ||||
Name of Issuer and Title of Security | applicable) | applicable) | Where Security Held | |||
Date Account was | Account | |||||||
Name of Broker, Dealer or Bank | Established | Number | Names on Account | Type of Account | ||||
Signature
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Received by |
Date |
1. | I hereby acknowledge receipt of a copy of the Code of Ethics. | |
2. | I have read and understand the Code of Ethics and recognize that I am subject thereto. In addition, I have raised any questions I may have on the Code of Ethics with the SIDCO Compliance Officer and have received a satisfactory response[s]. | |
3. | For all securities/accounts beneficially owned by me, I hereby declare that I have complied with the terms of the Code of Ethics during the prior year. |
Print Name:
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Signature:
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Date:
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Received by SIDCO:
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This ‘N-1A/A’ Filing | Date | Other Filings | ||
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Filed as of: | 10/8/09 | None on these Dates | ||
Filed on: | 10/7/09 | |||
1/12/09 | ||||
List all Filings |