Laserfiche WebLink
City of Tukwila My WebLink |HelpSearch Tips |About |Sign Out
FINRA Certification check <br />Firm Profile <br />Firm History <br />Firm Operations <br />Disclosures of Arbitration Awards, Disciplinary and Regulatory Events <br />State Registration Verification <br />ii. Financial review of acceptable FINRA capital requirements or letter of credit for <br />clearing settlements. <br />The advisor may be authorized through the contracted agreement to open accounts on <br />behalf of the City with the broker/dealers on the approved broker/dealer list. The City will <br />receive documentation directly from the brokers for account verification and regulatory <br />requirements. <br />C. Depositories <br />The City will only place funds exceeding the current FDIC insurance limits with banks <br />who are currently participating in the Washington State PDPC program. <br />Compliance/listing with the PDPC will be verified by the Finance Director or designee <br />annually. <br />D. Competitive Transactions <br />Transactions must be executed on a competitive basis and documented, excluding <br />securities and interfund loans issued by the City of Tukwila. Competitive prices should be <br />provided from at least three separate brokers, financial institutions or through a national <br />electronic trading platform. If the purchased security is only offered by one broker, then <br />other securities with similar structure may be used for documentation purposes. If an <br />Advisor handles trade executions, then they must provide the competitive documentation <br />as requested. <br />9. Authorized and Suitable Investments <br />A. Authorized Investments <br />All investments of the City are limited by RCW, principally RCW 35A.40.050 and <br />39.59.020. <br />Additional Specifications: <br />• This policy recognizes S&P, Moody's and Fitch as the major Nationally Recognized <br />Statistical Ratings Organizations (NRSRO). <br />• Minimum credit ratings and percentage limitations apply to the time of purchase. <br />• All securities must be purchased on the secondary market and may not be purchased <br />directly from the issuer. <br />• Securities rated in the broad single -A category with a negative outlook may not be <br />purchased. Portfolio holdings of corporate notes downgraded to below single A and <br />portfolio holdings of securities rated single A with their outlooks changed to negative <br />may continue to be held. No additional purchases are permitted. <br />City of Tukwila Investment Policy 2025 Page 9 of 18 <br />13 <br />