Learn more about tiastar smart MCCs. Learn more about tiastar arc-resistant MCCs. Learn more about pulse drive technology. Learn more about aftermarket and replacement components, parts, and units. The cataloged standard structures and units offering includes the most popular configurations and enables them to be ordered by standard part numbers.
These standard catalog structures will include:. Learn more about the motor control center standard catalog offering. Click here to view supporting documentation, such as flyers, brochures, installation guides, instruction manuals, white papers, specifications, certifications, and wiring diagrams for tiastar low-voltage motor control centers. Have a technical or application question? Check out Siemens TechTopics, which is a series of papers that discuss issues of interest to users or specifiers of electrical equipment.
Click here to go to TechTopics. Learn about how our products, solutions, and services can help address various challenges at your facility. E-Houses are customized, pre-assembled, and pre-tested modular power substations. They are ideally suited for use in situations where fast deployment and reduced on-site work are needed, or in locations that are difficult to access.
The simple reason is that they are easy to assemble and put into operation. E-Houses have proven themselves as an alternative to conventional power distribution solutions.
They have been installed in large numbers throughout the world in industry and infrastructure, and for network operators. Siemens offers multiple options for factory acceptance testing of select low- and medium-voltage products tailored to fit your needs.
Siemens' FAT options help assure equipment readiness and can reduce project costs, improve convenience, and enhance health and safety. We are proud to offer three distinct ways to demonstrate our capabilities to our customers: visit the Siemens' Wendell facility, take a virtual tour of the demo area or schedule a webinar, or have one of our trailers drive to your facility.
Click on the link for Siemens' request-for-quote RFQ , purchase order PO and post-delivery support portal for select low- and medium-voltage power distribution equipment, services, electric-vehicle charging products, and automation consulting and solutions. Consistent, safe, and intelligent low-voltage power distribution and electrical installation technology. Bank of New York Mellon. Thompson Hine LLP.
In such cases, the recipient must have a legitimate business need for theinformation and must be subject to a duty to keep the information confidential. There are no ongoing arrangements in place with respectto the disclosure of portfolio holdings. The Trustees, officers, employees and agentsof the Trust, when acting in such capacities, shall not be subject to any personal liability except for his or her own bad faith, willfulmisfeasance, gross negligence or reckless disregard of his or her duties.
The Board of Trustees is comprised of 3 independent Trustees. Additionally,under certain Act governance guidelines that apply to the Trust, the Independent Trustees will meet in executive session, at leastquarterly. Under the Governing Documents, the Chairman of the Board is responsible for a presiding at board meetings, b calling specialmeetings on an as-needed basis, c executing and administering of Trust policies including i setting the agendas for board meetingsand ii providing information to board members in advance of each board meeting and between board meetings.
The Trust believes that itsChairman, the independent chair of the Audit Committee, and, as an entity, the full Board, provide effective leadership thatis in the best interests of the Trust, its funds and each shareholder. The Board has astanding independent Audit Committee. The Board is responsible for overseeing risk management, and the full Board regularly engages indiscussions of risk management and receives compliance reports that inform its oversight of risk management from its Chief ComplianceOfficer at quarterly meetings and on an ad hoc basis, when and if necessary.
The Audit Committee considers financial and reporting riskwithin its area of responsibilities. Generally, the Board believes that its oversight of material risks is adequately maintained throughthe compliance-reporting chain where the Chief Compliance Officer is the primary recipient and communicator of such risk-related information.
Generally, the Trust believesthat each Trustee is competent to serve because of their individual overall merits including: i experience, ii qualifications, iii attributes and iv skills. Christopher Caltagirone worked for a major service provider to investment managers and mutual funds for more than 9 years, including as a portfolio managerfor fixed income securities. His expertise in fixed income securities and portfolio trading enables Mr.
Caltagirone to bring a uniqueperspective to service provider oversight for the Trust. Craig Enders has over20 years of experience as a professor at two major universities. Enders study of multiple imputation and maximum likelihood and Bayesianestimation with incomplete data enables him to provide oversight for the Trust. Paul Kim has workedas a senior director and vice president in ETF strategy and product management for over ten-years. During the courseof his career, Mr.
Zung has served as a senior managing director and executive wealth advisor for large advisory firm. Zung has excellentcommunications skills, as well as an ability to work effectively with others. Zung brings a diversity of viewpoint, background andexperience to the Board. The Audit Committee is responsible for seeking and reviewing nominee candidates for consideration as IndependentTrustees as is from time to time considered necessary or appropriate.
The Audit Committee generally will not consider shareholder nominees. The Audit Committee is also responsible for reviewing and setting Independent Trustee compensation from time to time when considered necessaryor appropriate.
Investors who are not AuthorizedParticipants but want to transact in Creation Units may contact the Distributor for the names of Authorized Participants. An AuthorizedParticipant may require investors to enter into a separate agreement to transact through it for Creation Units and may require ordersfor purchases of shares placed with it to be in a particular form.
Investors transacting through a broker that is not itself an AuthorizedParticipant and therefore must still transact through an Authorized Participant may incur additional charges. There are expected to bea limited number of Authorized Participants at any one time. Orders must be transmittedby an Authorized Participant by telephone or other transmission method acceptable to the Distributor.
Market disruptions and telephoneor other communication failures may impede the transmission of orders. In addition, purchasers of Creation Units are responsiblefor the costs of transferring the deposit securities to the account of the Fund. Investors who use the servicesof a broker, or other such intermediary may be charged a fee for such services. The Transaction Fees for the Fund are listed in the tablebelow. In-kind portions of purchase ordersnot subject to the Clearing Process will go through a manual clearing process run by DTC.
In-kind deposits of securities for orders outside theClearing Process must be delivered through the Federal Reserve System for government securities or through DTC for corporate securities. Because the portfolio securitiesof the Fund may trade on days that the Exchange is closed or are otherwise not Business Days for the Fund, shareholders may not be ableto redeem their shares of the Fund, or to purchase or sell shares of the Fund on the Exchange, on days when the NAV of the Fund couldbe significantly affected by events in the relevant foreign markets.
The consideration for a CreationUnit generally consists of the deposit securities and a Cash Component. Thus, the Cash Component is equal to the difference between x the net asset valueper Creation Unit of the Fund and y the market value of the deposit securities.
On each Business Day, priorto the opening of business on the Exchange currently a. Thedeposit securities announced are applicable to purchases of Creation Units until the next announcement of deposit securities. These adjustments will reflect changes known to the Adviser on the date of announcement to be in effect by the time of delivery of thePortfolio Deposit.
Payment of any stamp duty orthe like shall be the sole responsibility of the Authorized Participant purchasing a Creation Unit. The Authorized Participant must ensurethat all deposit securities properly denote change in beneficial ownership. The Fund may permit or require cash-in-lieu when, for example, a deposit security may not be available in sufficientquantity for delivery or may not be eligible for transfer through the systems of DTC or the Clearing Process.
Similarly, the Fund maypermit or require cash in lieu of deposit securities when, for example, the Authorized Participant or its underlying investor is restrictedunder U.
The Fund will comply with the federalsecurities laws in accepting deposit securities including that the deposit securities are sold in transactions that would be exempt fromregistration under the Securities Act.
To order a Creation Unit, anAuthorized Participant must submit an irrevocable purchase order to the Distributor. An Authorized Participant mustsubmit an irrevocable purchase order no later than the earlier of i p. The Cut-off Time for Custom Orders is generally two hours earlier. If available, portions of orders may be settled through the Clearing Process. In connection with such orders, the Distributor transmits, on behalf of the AuthorizedParticipant, such trade instructions as are necessary to effect the creation order.
Pursuant to such trade instructions, the AuthorizedParticipant agrees to deliver the requisite Portfolio Deposit to the Fund, together with such additional information as may be requiredby the Distributor. If the Clearing Process isnot available for portions of an order, Portfolio Deposits will be made outside the Clearing Process. The Portfolio Deposit transfer must be ordered by the DTC Participant on the Transmittal Date in a timely fashion so as to ensurethe delivery of deposit securities whether standard or custom through DTC to the Fund account by a.
TheCash Component, along with any cash-in-lieu and Transaction Fee, must be transferred directly to the Custodian through the Federal ReserveSystem in a timely manner so as to be received by the Custodian no later than p. If the Custodian doesnot receive both the deposit securities and the cash by the appointed time, the order may be canceled.
Authorized Participants that submit a canceledorder will be liable to the Fund for any losses incurred by the Fund in connection therewith. Orders involving foreign depositsecurities are expected to be settled outside the Clearing Process. Thus, upon receipt of an irrevocable purchase order, the Distributorwill notify the Adviser and the Custodian of such order. The Custodian, who will have caused the appropriate local sub-custodian s ofthe Fund to maintain an account into which an Authorized Participant may deliver deposit securities or cash-in-lieu , with adjustmentsdetermined by the Fund, will then provide information of the order to such local sub-custodian s.
TheAuthorized Participant must also make available on or before the contractual settlement date, by means satisfactory to the Fund, immediatelyavailable or same day funds in U. Whena relevant local market is closed due to local market holidays, the local market settlement process will not commence until the end ofthe local holiday period.
Settlement must occur by p. All questions as to the numberof shares of each security in the deposit securities and the validity, form, eligibility and acceptance for deposit of any securitiesto be delivered shall be determined by the Fund. Examplesof such circumstances include acts of God; public service or utility problems resulting in telephone, telecopy or computer failures; fires,floods or extreme weather conditions; market conditions or activities causing trading halts; systems failures involving computer or otherinformational systems affecting the Trust, the Distributor, DTC, NSCC, the Adviser, the Custodian, a sub-custodian or any other participantin the creation process; and similar extraordinary events.
The Distributor shall notify an Authorized Participant of its rejection ofthe order. The Fund, the Custodian, any sub-custodian and the Distributor are under no duty, however, to give notification of any defectsor irregularities in the delivery of Portfolio Deposits, and they shall not incur any liability for the failure to give any such notification.
The Distributor will transmit a confirmation of acceptance to the Authorized Participant that placed the order. Except as provided below, aCreation Unit will not be issued until the Fund obtains good title to the deposit securities and the Cash Component, along with any cash-in-lieuand Transaction Fee. In certain cases, AuthorizedParticipants will create and redeem Creation Units on the same trade date.
In these instances, the Trust reserves the right to settlethese transactions on a net basis. The Fund may issue a CreationUnit prior to receiving good title to the deposit securities, under the following circumstances. Such Collateral must be deliveredno later than p.
The only Collateral that is acceptable to the Fund is cash in U. At any time, the Fund may use the Collateral to purchase the missing securities, and the AuthorizedParticipant will be liable to the Fund for any costs incurred thereby or losses resulting therefrom, whether or not they exceed the amountof the Collateral, including any Transaction Fee, any amount by which the purchase price of the missing deposit securities exceeds themarket value of such securities on the Transmittal Date, brokerage and other transaction costs.
The Trust will return any unused Collateralonce all of the missing securities have been received by the Fund. When cash purchases of CreationUnits are available or specified for the Fund, they will be effected in essentially the same manner as in-kind purchases.
In the caseof a cash purchase, the investor must pay the cash equivalent of the Portfolio Deposit. In addition, cash purchases will be subject toTransaction Fees, as described above. There can be no assurance thatthere will be sufficient liquidity in Shares in the secondary market to permit assembly of a Creation Unit.
In addition, investors mayincur brokerage and other costs in connection with assembling a Creation Unit. The Cash Component serves thefunction of compensating for any differences between the net asset value per Creation Unit and the Redemption Securities.
Thus, the CashComponent is equal to the difference between x the net asset value per Creation Unit of the Fund and y the market value of the RedemptionSecurities. If the Redemption Securitieson a Business Day are different from the deposit securities, prior to the opening of business on the Exchange currently a.
If the Redemption Securities on a Business Day are different from the depositsecurities, all redemption requests that day will be processed outside the Clearing Process. These adjustments will reflect changes known to the Adviser on the date of announcement to be in effect by the time of delivery of theRedemption Basket. The Fund may, in its sole discretion,permit or require the substitution of cash-in-lieu to be added to the Cash Component to replace any Redemption Security.
The Fund maypermit or require cash-in-lieu when, for example, a Redemption Security may not be available in sufficient quantity for delivery or maynot be eligible for transfer through the systems of DTC or the Clearing Process. Similarly, the Fund may permit or require cash-in-lieuof Redemption Securities when, for example, the Authorized Participant or its underlying investor is restricted under U.
The Fund will comply with the federal securities laws in satisfyingredemptions with Redemption Securities, including that the Redemption Securities are sold in transactions that would be exempt from registrationunder the Securities Act. To redeem a Creation Unit,an Authorized Participant must submit an irrevocable redemption request to the Distributor. An Authorized Participant submittinga redemption request is deemed to represent to the Fund that it or, if applicable, the investor on whose behalf it is acting, i ownsoutright or has full legal authority and legal beneficial right to tender for redemption the Creation Unit to be redeemed and can receivethe entire proceeds of the redemption, and ii all of the Shares that are in the Creation Unit to be redeemed have not been borrowed,loaned or pledged to another party nor are they the subject of a repurchase agreement, securities lending agreement or such other arrangementthat would preclude the delivery of such Shares to the Fund.
If the Authorized Participant, upon receipt of a verification request, does not provide sufficient verification of the requestedrepresentations, the redemption request will not be considered to be in proper form and may be rejected by the Fund. An Authorized Participant mustsubmit an irrevocable redemption order no later than the Cut-off Time. If available, portions of redemption requests may be settled through the Clearing Process. In connection with such orders, the Distributor transmits on behalf ofthe Authorized Participant, such trade instructions as are necessary to effect the redemption.
Pursuant to such trade instructions, theAuthorized Participant agrees to deliver the requisite Creation Unit s to the Fund, together with such additional information as maybe required by the Distributor. If the Clearing Process isnot available for portions of an order, Redemption Baskets will be delivered outside the Clearing Process. TheAuthorized Participant must transfer or cause to be transferred the Creation Unit s of shares being redeemed through the book -entry systemof DTC so as to be delivered through DTC to the Custodian by a.
In addition, the Cash Componentmust be received by the Custodian by p. A rejected redemptionrequest may be resubmitted the following Business Day. Orders involving foreign RedemptionSecurities are expected to be settled outside the Clearing Process.
Thus, upon receipt of an irrevocable redemption request, the Distributorwill notify the Adviser and the Custodian.
All questions as to the numberof shares of each security in the deposit securities and the validity, form, eligibility and acceptance for deposit of any securitiesto be delivered shall be determined by the Trust.
The Authorized Participant, or the investoron whose behalf it is acting, will be recorded on the book -entry system of DTC. Except under the circumstances described below, however, aRedemption Basket generally will not be issued until the Creation Unit s are delivered to the Fund, along with the Cash Component, anycash-in-lieu and Transaction Fee. When a relevant local market is closed due to local market holidays, the local market settlement process will notcommence until the end of the local holiday period.
When cash redemptions of CreationUnits are available or specified for the Fund, they will be effected in essentially the same manner as in-kind redemptions. In the caseof a cash redemption, the investor will receive the cash equivalent of the Redemption Basket minus any Transaction Fees, as describedabove. The following discussion isgeneral in nature and should not be regarded as an exhaustive presentation of all possible tax ramifications.
All shareholders shouldconsult a qualified tax advisor regarding their investment in the Fund. Such qualification doesnot involve supervision of management or investment practices or policies by any government agency or bureau. By so qualifying, the Fundshould not be subject to federal income or excise tax on its net investment income or net capital gain, which are distributed to shareholdersin accordance with the applicable timing requirements.
Net investment income and net capital gain of the Fund will be computed in accordancewith Section of the Tax Code. Net investment income is madeup of dividends and interest less expenses. Net capital gain for a fiscal year is computed by taking into account any capital loss carryforwardof the Fund.
Capital losses incurred after January 31, may now be carried forward indefinitely and retain the character of the originalloss. Under pre-enacted laws, capital losses could be carried forward to offset any capital gains for eight years, and carried forwardas short-term capital, irrespective of the character of the original loss.
Capital loss carry forwards are available to offset futurerealized capital gains. To the extent that these carry forwards are used to offset future capital gains it is probable that the amountoffset will not be distributed to shareholders. The Fund intends to distributeall of its net investment income, any excess of net short-term capital gains over net long-term capital losses, and any excess of netlong-term capital gains over net short-term capital losses in accordance with the timing requirements imposed by the Tax Code and thereforeshould not be required to pay any federal income or excise taxes.
Distributions of net capital gain, if any, will be made annually nolater than December 31 of each year. Both types of distributions will be in shares of the Fund unless a shareholder elects to receivecash.
If the Fund fails to qualifyas a regulated investment company under Subchapter M in any fiscal year, it will be treated as a corporation for federal income tax purposes. As such the Fund would be required to pay income taxes on its net investment income and net realized capital gains, if any, at the ratesgenerally applicable to corporations.
Under ordinary circumstances, the Fund expects to timeits distributions so as to avoid liability for this tax. The following discussion oftax consequences is for the general information of shareholders that are subject to tax. Shareholders that are IRAs or other qualifiedretirement plans are exempt from income taxation under the Tax Code. Distributions of taxable netinvestment income and the excess of net short-term capital gain over net long-term capital loss are taxable to shareholders as ordinaryincome.
Certain U. Such gain or loss is treated as a capital gain or loss if the sharesare held as capital assets. However, any loss realized upon the redemption of shares within six months from the date of their purchasewill be treated as a long-term capital loss to the extent of any amounts treated as capital gain dividends during such six-month period. All or a portion of any loss realized upon the redemption of shares may be disallowed to the extent shares are purchased including sharesacquired by means of reinvested dividends within 30 days before or after such redemption.
Distributions of taxable netinvestment income and net capital gain will be taxable as described above, whether received in additional cash or shares. Shareholderselecting to receive distributions in the form of additional shares will have a cost basis for federal income tax purposes in each shareso received equal to the net asset value of a share on the reinvestment date. All distributions of taxablenet investment income and net capital gain, whether received in shares or in cash, must be reported by each taxable shareholder on hisor her federal income tax return.
Dividends or distributions declared in October, November or December as of a record date in such a month,if any, will be deemed to have been received by shareholders on December 31, if paid during January of the following year. Redemptionsof shares may result in tax consequences gain or loss to the shareholder and are also subject to these reporting requirements.
Under the Tax Code, the Fundwill be required to report to the Internal Revenue Service all distributions of taxable income and capital gains as well as gross proceedsfrom the redemption or exchange of Fund shares, except in the case of certain exempt shareholders.
Under the backup withholding provisionsof Section of the Tax Code, distributions of taxable net investment income and net capital gain and proceeds from the redemptionor exchange of the shares of a regulated investment company may be subject to withholding of federal income tax in the case of non-exemptshareholders who fail to furnish the investment company with their taxpayer identification numbers and with required certifications regardingtheir status under the federal income tax law, or if the Fund is notified by the IRS or a broker that withholding is required due to anincorrect TIN or a previous failure to report taxable interest or dividends.
If the withholding provisions are applicable, any such distributionsand proceeds, whether taken in cash or reinvested in additional shares, will be reduced by the amounts required to be withheld. These rules could therefore affect the amount, timing and character of distributions to shareholders. Such gains and losses are treated as ordinary income and loss. The QEF and mark-to-market elections may accelerate the recognition of income without the receipt of cash and increase the amount requiredto be distributed for the Fund to avoid taxation.
Income received by the Fundfrom sources within foreign countries may be subject to withholding and other taxes imposed by such countries. Tax treaties and conventionsbetween certain countries and the U. If this election is made, ashareholder generally subject to tax will be required to include in gross income in addition to taxable dividends actually received his or her pro rata share of the foreign taxes paid by the Fund, and may be entitled either to deduct as an itemized deduction his orher pro rata share of foreign taxes in computing his or her taxable income or to use it as a foreign tax credit against his or her U.
In particular, a shareholder must hold his or her shares without protectionfrom risk of loss on the ex-dividend date and for at least 15 more days during the day period surrounding the ex-dividend date tobe eligible to claim a foreign tax credit with respect to a gain dividend.
No deduction for foreign taxes may be claimed by a shareholderwho does not itemize deductions. With respect to the Fund, gains from the sale of securities will be treated as derived from U. The limitation on the foreign tax credit is applied separately to foreign source passiveincome, and to certain other types of income.
A shareholder may be unable to claim a credit for the full amount of his or her proportionateshare of the foreign taxes paid by the Fund. Current federal tax law requiresthe holder of a U. Treasury or other fixed income zero coupon security to accrue as income each year a portion of the discount at whichthe security was purchased, even though the holder receives no interest payment in cash on the security during the year.
In addition,pay-in-kind securities will give rise to income, which is required to be distributed and is taxable even though the Fund holding the securityreceives no interest payment in cash on the security during the year. Some of the debt securities with a fixed maturity date of more than one year from the date of issuance that may be acquired by the Fund may be treated as debt securitiesthat are issued originally at a discount.
A portion of the OID includable in income with respect to certain high-yield corporate debtsecurities including certain pay-in-kind securities may be treated as a dividend for U. Some of the debt securities with a fixed maturity date of more than one year from the date of issuance that may be acquired by the Fund in the secondary marketmay be treated as having market discount.
Market discount generally accrues in equal daily installments. The Fund maymake one or more of the elections applicable to debt securities having market discount, which could affect the character and timing ofrecognition of income.
Some debt securities witha fixed maturity date of one year or less from the date of issuance that may be acquired by the Fund may be treated as having acquisitiondiscount, or OID in the case of certain types of debt securities. Generally, the Fund will be required to include the acquisition discount,or OID, in income over the term of the debt security, even though payment of that amount is not received until a later time, usually whenthe debt security matures.
The Fund may make one or more of the elections applicable to debt securities having acquisition discount, orOID, which could affect the character and timing of recognition of income. The Fund that holds the foregoingkinds of securities may be required to pay out as an income distribution each year an amount that is greater than the total amount ofcash interest the Fund actually received. Such distributions may be made from the cash assets of the Fund or by liquidation of portfoliosecurities, if necessary including when it is not advantageous to do so.
The Fund may realize gains or losses from such liquidations. In the event the Fund realizes net capital gains from such transactions, its shareholders may receive a larger capital gain distribution ,if any, than they would in the absence of such transactions.
Shareholders of the Fund maybe subject to state and local taxes on distributions received from the Fund and on redemptions of the Shares. A brief explanation of theform and character of the distribution accompany each distribution. In January of each year, the Fund issues to each shareholder a statementof the federal income tax status of all distributions.
Shareholders should consulttheir tax advisors about the application of federal, state and local and foreign tax law in light of their particular situation. Simplify Asset Management, Inc. Where the Company undertakes proxy voting responsibilities on behalf of multiple clients,it shall consider whether it should have different voting policies for some or all of these different clients, depending on the investmentstrategy and objectives of each client.
Unless contractually obligated to vote in a certainmanner, the Company will reach its voting decisions independently, after appropriate investigation.
It does not generally intend to delegateits decision-making or to rely on the recommendations of any third party, although it may take such recommendations into consideration. Where the Company deviates from the guidelines listed below, or depends upon a third party to make the decision, the reasons shall bedocumented.
SAMI generally will monitor proposed corporateactions and proxy issues regarding client securities and may take any of the following actions based on the best interests of its clients: i determine how to vote the proxies; ii abstain; or iii follow the recommendations of an independent proxy voting service in votingthe proxies. In general, the Company will determine how tovote proxies based on reasonable judgment of the vote most likely to produce favorable financial results for its clients.
Proxy votesgenerally will be cast in favor of proposals that maintain or strengthen the shared interests of shareholders. Proxy votes generally willbe cast against proposals having the opposite effect. The Company will always consider each side of each proxy issue. Absent good reason to the contrary, the Companywill generally give substantial weight to management recommendations regarding voting.
This is based on the view that management is usuallyin the best position to know which corporate actions are in the best interests of common shareholders as a whole. SAMI will generally vote for routine matters proposedby issuer management, such as setting a time or place for an annual meeting, changing the name or fiscal year of the company, or votingfor directors in favor of the management proposed slate.
Other routine matters in which the Company will generally vote along with companymanagement include: appointment of auditors; fees paid to board members; and change in the board structure.
The Company will generallyvote along with management as long as the proposal does not: i measurably change the structure, management, control or operations ofthe company; ii measurably change the terms of, or fees or expenses associated with, an investment in the company; and iii the proposalis consistent with customary industry standards and practices, as well as the laws of the state of incorporation applicable to the company.
Routine matters may not necessitate the same level of analysis than non-routine matters. In non-routine matters, the Company will attempt to be generallyfamiliar with the questions at issue. Non-routine matters will be voted on a case-by-case basis given the complexity of many of theseissues. Upon making a decision, the proxy will be executed and returnedfor submission to the issuer. The Company shall evaluate compliance by periodicallysampling the proxy votes it casts on behalf of its clients by sampling proxy votes that relate to proposals that are non-routine mattersand require more issue-specific analysis e.
If the issue is specifically addressed in thesepolicies and procedures, the Company will vote in accordance with these policies. In all such cases, the Company will make disclosuresto clients of all material conflicts and will keep documentation supporting its voting decisions. If the CCO determines that a material conflictof interest exists, the following procedures shall be followed:.
SAMI may disclose the existenceand nature of the conflict to the client s owning the securities, and seek directions on how to vote the proxies;2. SAMI may abstain from voting,particularly if there are conflicting client interests for example, where client accounts hold different client securities in a competitivemerger situation ; or3.
SAMI may follow the recommendationsof an independent proxy voting service in voting the proxies. The Company shall periodically evaluate the proxyservices provided by third party providers which should consider the services, recommendations made by the provider and how the providervoted, as applicable, and consider the steps enumerated below. When conducting oversight of a proxy advisoryfirm, the Company should consider taking the following steps:. I first used a computer in — just over 50 years ago.
For my undergraduate thesis in psychology, I had asked students to complete a long questionnaire and when it came time to analyze …. For my undergraduate thesis in psychology, I had asked students to complete a long questionnaire and when it came time to analyze the data, I realized it would take me many months using a calculator.
A professor suggested I use a computer and that he was prepared to give me a couple of lessons in a programming language called Basic. A couple of weeks later, I inserted a big stack of punch cards into a mainframe card reader and hundreds of analyses were completed in 90 seconds. I decided computers could be a big thing. We believed that everyone would use a computer connected to a vast network of networks and that computers would evolve beyond just processing data and become a communications medium.
A couple of years later, I published a book showing our research and developing that idea. The book did not sell well. It was a study in bad timing and the biggest objection I received was from the media who said managers and professionals would never learn to type.
Reflecting on that half a century, I have concluded that the digital age has now entered a second era. By understanding this second era, businesses and other organizations have a chance of making sense of the bewildering onslaught on technologies and responding effectively.
The first era of the digital age spanned the rise of mainframes, minicomputers, the personal computer, fax, the internet, mobility, the World Wide Web, social media, the mobile web, the cloud and big data.
When all is said and done, however, it is the convergence of three of these that is foundational — artificial intelligence, blockchain and the Internet of Things. But the greatest of these in none — it is their combination. Most managers are familiar with AI, blockchain and IoT, but a brief primer helps put the coming Trivergence into perspective.
The Internet of Things describes the growing connectivity of everyday objects and the physical world to the internet. The proliferation of wireless sensors and smart devices is giving rise to a seamless computational network that connects every living being and inanimate object on the planet into a global Internet of Everything. Control circuit components. Low-voltage circuit breakers.
Power distribution. Busway systems. Digital power monitoring. Low-voltage motor control centers. Low-voltage switchgear. Low-voltage transformers. Surge protective devices. Paralleling switchgear and automatic transfer switches Russelectric. Residential products. Residential Solutions. Multi-family metering. Residential circuit breakers. Residential load centers. Single-family metering. Find where to buy Siemens products with our distributor locator and at participating retail partners in the U.
0コメント