§4.10. Definitions. — Inbound Citations

(4) or NAV has the same meaning as net asset value as defined in section 4.10(b);

(10) Pooled investment vehicle means a trading vehicle organized and operated as a commodity pool within the meaning of § 4.10(d) of this chapter, and whose units of participation have been registered under the Securities Act of 1933, or a trading vehicle for which § 4.5 of this chapter makes available relief from regulation as a commodity pool operator, i.e., registered investment companies, insurance company separate accounts, bank trust funds, and certain pension plans.

(ii) A multi-advisor pool as defined in § 4.10(d)(2);

(B) (1) Privately offered pursuant to section 4(2) of the Securities Act of 1933, as amended (15 U.S.C. 77d(2)), or pursuant to Regulation D thereunder (17 CFR 230.501 et seq.);

(2) A multi-advisor pool as defined in § 4.10(d)(2); and

(3) A principal-protected pool as defined in § 4.10(d)(3);

(iii) A principal-protected pool as defined in § 4.10(d)(3); or

(B) (1) Privately offered pursuant to section 4(2) of the Securities Act of 1933, as amended (15 U.S.C. 77d(2)), or pursuant to Regulation D thereunder (17 CFR 230.501 et seq.);

(2) A multi-advisor pool as defined in § 4.10(d)(2); and

(3) A principal-protected pool as defined in § 4.10(d)(3);

(3) has the same meaning as defined in section 4.10(f);

(5) The break-even point per unit of initial investment, as specified in § 4.10(j).

(F) The largest monthly draw-down during the most recent five calendar years and year-to-date, expressed as a percentage of the pool's net asset value and indicating the month and year of the draw-down (the capsule must include a definition of “draw-down” that is consistent with § 4.10(k));

(v) The largest monthly draw-down for the account or trading program specified during the most recent five calendar year and year-to-date expressed as a percentage of client funds and indicating the month and year of the draw-down (the capsule must include a definition of “draw-down” that is consistent with § 4.10(k));