Doyle Investment Services DBA MD Investment Advisors
Serving our clients since 1999
Policies and Procedures/Code of Ethics
2021-01-29
MD Investment Advisors
Written Policies and Procedures
Contents
POLICY STATEMENT......................................... 6
CHIEF COMPLIANCE OFFICER APPOINTMENT...................................................7
FIDUCIARY STATEMENT....................................................... 8
Background........................................................... 8
Firm Statement...................................................... 8
CODE OF ETHICS STATEMENT....................... 9
Background........................................................... 9
Introduction.......................................................... 9
Prohibited Purchases and Sales............................ 9
Insider Trading................................................................. 9
Personal Securities Transactions........................ 10
Initial Public Offerings (IPO’s).......................... 10
Limited or Private Offerings .............................. 10
Blackout Periods ............................................... 10
Short-Term Trading ........................................... 10
Miscellaneous Restrictions................................. 11
Margin Accounts................................................. 11
Short Sales ......................................................... 11
Exempted Transactions ...................................... 11
Prohibited Activities........................................... 11
Conflicts of Interest............................................ 11
Gifts and Entertainment...................................... 12
Political and Charitable Contributions............... 13
Confidentiality ................................................... 13
Service on Board of Directors ...........................13
Compliance Procedures...................................... 13
Compliance with Laws and Regulations ............ 13
Personal Securities Transactions Procedure Reporting............................................................ 13
Certification of Compliance............................... 16
Initial Certification............................................. 16
Acknowledgement of Amendments..................... 16
Annual Certification........................................... 16
Reporting Violations........................................... 16
Compliance Officer Duties................................. 17
Training and Education ...................................... 17
Recordkeeping.................................................... 17
Annual Review .................................................. 17
Sanctions ........................................................... 17
Definitions.......................................................... 18
PRIVACY POLICY............................................. 19
ANTI-MONEY LAUNDERING(AML)POLICY.20
AML Program Compliance Officer.................... 20
Giving AML Information to Federal Law Enforcement Agencies and Other Financial Institutions.......................................................... 21
FinCEN Requests under PATRIOT Act 314 ...... 21
Checking the “OFAC” List .................................21
Customer Identification and Verification............ 22
Clients Who Refuse To Provide Information...... 22
Verifying Information.......................................... 22
Lack of Verification ........................................... 24
Recordkeeping ................................................... 24
Monitoring Accounts for Suspicious Activity......24
Emergency Notification to the Gov't by phone.... 25
Red Flags............................................................25
Responding to Red Flags and Suspicious Act..... 26
Suspicious Transactions and BSA Reporting...... 27
Filing a Form SAR-SF....................................... 27
AML Record Keeping........................................ 28
SAR-SF Maintenance and Confidentiality ..........28
Responsibility for AML Records &SAR Filing ..28
Training Programs ..............................................28
Approval & Signatures....................................... 29
Supervisor Approval ..........................................29
AML Compliance Officer Approval................... 29
ANTI-INSIDER TRADING POLICY..................30
Background..........................................................30
Firm Policy..........................................................30
Compliance Requirements.................................. 30
CUSTOMER COMPLAINT POLICY..................31
Firm Policy..........................................................31
CLIENT ACCOUNT/CORRESPONDENCE/TRANSACTION REVIEW POLICY.........................................32
Firm Policy......................................................... 32
Correspondence: ................................................32
Transactions .......................................................32
Account Review .................................................32
CUSTODY POLICY—HANDLING OF CLIENT FUNDS AND SECURITIES................................33
Firm Policy..........................................................33
Compliance Requirements:..................................33
ADVISOR REPRESENTATIVE REGISTRATION, HIRING, AND TRAINING.................................34
Firm Policy..................................................................34
Compliance Requirements: .................................34
FORM ADV (PART 2A AND 2B) UPDATE PROCEDURES...................................................35
Background..........................................................35
ADV PART 2A Firm Brochure ...........................35
ADV PART 2B Firm Brochure Supplement ........36
ADV Update Requirements.......................................................36
DISTRIBUTION OF DISCLOSURE DOCUMENT (FORM ADV 2 OR BROCHURE)......................37
Background..........................................................37
ADV PART 2A Firm Brochure ...........................37
ADV PART 2B Firm Brochure Supplement ........38
Distribution Requirements ..................................39
ADVERTISING POLICY.....................................40
Firm Policy..........................................................40
Compliance Requirements: .................................40
SOFT DOLLAR ARRANGEMENTS STATEMENT......................................................41
Background..........................................................41
Firm Statement.....................................................41
Compliance Requirements...................................41
Review Process ..................................................41
RECORD-KEEPING POLICY............................42
Responsibility for Records..................................42
Record Retention Requirements..........................42
CONTINGENCY PLANNING............................43
Background..........................................................43
Emergency Information........................................43
Firm Contact Persons .........................................43
Support Services ................................................43
Firm Policy .........................................................43
Significant Business Disruptions (SBDs) ...........44
Approval and Execution Authority .....................44
Plan Location and Access ...................................44
Business Description ..........................................44
Our brokerage firm contacts: ..............................44
Office Locations .................................................45
Alternative Physical Location(s) of Employees..45
Clients’ Access to Funds and Securities .............45
Data Back-Up and Recovery (Hard Copy and Electronic)...........................................................46
Operational Assessments ....................................46
Operational Risk ................................................46
Mission Critical Systems ....................................46
Our Firm’s Mission Critical Systems .................47
Trading................................................................47
Client Account Information .................................47
Alternate Communications with Clients, Employees, and Regulators ................................47
Clients ................................................................47
Employees ..........................................................48
Regulators ..........................................................48
Regulatory Reporting ..........................................48
Regulatory Contact: ............................................48
Death of Key Personnel ......................................48
Updates and Annual Review ...............................49
Approval & Signature ........................................50
Supervisor Approval ..........................................50