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7.3Selection Process - City of Santa Ana Broker-Dealer Questionnaire <br />The City’s Treasury investment staff shall investigate all institutions which wish to <br />do business with the City as a Qualified City of Santa Ana Broker-Dealer, in order <br />to determine if they are adequately capitalized, make markets in securities <br />appropriate to the City's needs, certify having read and understood the City of <br />Santa Ana Annual Statement of Investment Policy and agreeing to abide by the <br />conditions set forth therein. This will be done by having the Financial Institutions <br />complete and return the appropriate City of Santa Ana Broker-Dealer <br />Questionnaire, along with their most current FINRA Report and Audited Financial <br />Statement (available within one-hundred, twenty (120) days of the Institution's fiscal <br />year-end). Audited Financial Statements may be made available online. Financial <br />Institutions currently certified as Qualified Cityof Santa Ana Broker-Dealers shall <br />complete and return the appropriate City of Santa Ana Broker-Dealer Questionnaire <br />bi-annually, but shall be subject to the Audited Financial Statement and FINRA <br />annual reporting requirements annually. However, if the interaction with a currently <br />certified Qualified City of Santa Ana Broker-Dealer is limited to investment trades <br />through an electronic trading platform, then the Broker-Dealer is exempt from <br />completion of a questionnaire, but shall remain subject to the Audited Financial <br />Statement and FINRA reporting requirements annually. <br />7.4Selection Criteria <br />In selecting external Broker-Dealers, past performance, stability, financial strength, <br />reputation, area of expertise, and willingness and ability to provide the highest <br />investment return at the lowest cost to the City within the parameters of this <br />Investment policy and the California Government Code shall be primary <br />considerations. Investment staff will only conduct business with registered <br />representatives of broker-dealers that have a minimum of three (3) years <br />continuous experience working for a primary dealer or five (5) years continuous <br />experience working for a non-primary dealer. Investment staff will only purchase or <br />sell securities from registered representatives that possess an active Series 7 <br />license, an active Series 66 license, or an active Series 63 license, and who submit <br />a FINRA form U4 (employment history) and a current FINRA form U5 Disclosure <br />Statement and have completed the City’s Broker-Dealer questionnaire. <br />7.5List of Approved Financial Institutions/Qualified Broker-Dealers <br />The Treasury and Customer Services Manager shall maintain a list of Financial <br />Institutions/Qualified Broker-Dealers authorized to provide investment services to <br />the City, along with their FINRA Report. <br />8.0AUTHORIZED AND SUITABLE INVESTMENTS <br />8.1Allowable Investment Instruments – State Law <br />California Government Code Section 53601 establishes allowable investment <br />*´«¸ ΐǾ ΑΏΐ9- <br />C¨³¸ ®¥ 3 ­³  ȃ !­­´ « <br />0 ¦¤ 8 <br />3³ ³¤¬¤­³ ®¥ )­µ¤²³¬¤­³ 0®«¨¢¸*´­¤ ΒΏǾ ΑΏ20 <br /> <br />