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City of Santa - Annual <br />Statement of Investment Policy July 1, 2022 - <br />June 30, 2023 Page 7 <br />5.5 FMSA Investment Advisory Committee <br />To provide a regular departmental forum and consultive body for evaluating <br />investment portfolio performance and strategy, internal procedures and controls, <br />and for making recommendations to the Executive Director for FMSA in her/his <br />capacity as chief fiscal officer and City Treasurer, a FMSA Investment Advisory <br />Committee is established. All authorized Investment Officials are de facto standing <br />members of the FMSA Investment Advisory Committee. At the discretion of the <br />Executive Director for FMSA, other FMSA investment staff may be authorized <br />membership on the committee. Meetings shall be held regularly on a basis <br />determined by the Executive Director for FMSA. The FMSA Investment Advisory <br />Committee’s evaluations and recommendations are subject to the approval of the <br />Executive Director for FMSA, who services as committee chair. <br /> <br />6.0 ETHICS AND CONFLICTS OF INTEREST <br /> <br />6.1 Investment Officials and Officers <br />Investment Officials, officers, and employees involved in the investment process <br />shall refrain from personal business activity that could conflict with the proper <br />execution and management of the investment program, or that could impair their <br />ability to make impartial decisions. Investment Officials, officers and employees <br />shall disclose any material interests in financial institutions with which they conduct <br />business. They shall further disclose any personal financial/investment positions <br />that could be related to the performance of the investment portfolio. Investment <br />Officials, officers and employees shall refrain from undertaking personal <br />investment transactions with the same individual with whom business is conducted <br />on behalf of the City of Santa Ana. <br /> <br />6.2 Statement of Economic Interests <br />Investment Officials and officers authorized to approve investment decisions shall be <br />required to submit an annual Statement of Economic Interests, also known as a Form <br />700 in accordance with California Government Code, Section 1090 et seq. The Form <br />700 provides transparency and ensures accountability in two ways: <br /> <br />1) It provides necessary information to the public about official’s/officer’s personal <br />financial interests to ensure that officials and officers are making decisions in the <br />best interest of the public and not enhancing their personal finances. <br /> <br />2) It serves as a reminder to the public official of potential conflicts of interest so the <br />official or officer can abstain from making or participating in governmental <br />decisions that are deemed conflicts of interest.