A covered member creates a blind trust and transfers assets into the blind trust. The covered member will not supervise or participate in the trust’s investment decisions during the term of the trust. if the covered member retains the right to amend or revoke the trust, Will the trust and the underlying assets be considered the covered member’s direct financial interests?
A covered member creates a blind trust and transfers assets into the blind trust. The covered member will not supervise or participate in the trust’s investment decisions during the term of the trust. if the covered member retains the right to amend or revoke the trust, Will the trust and the underlying assets be considered the covered member’s direct financial interests?
Yes or No
The trust and underlying investment would be considered the financial interest of the covered member, if:
1. The covered member has the right associated with the amendment and revocation of the trust.
2. The underlying trust investments would be reverted to the covered member as the grantor of the trust.
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