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Date
Rule
801.1(d)(2)
Staff
Michael Verne
Response/Comments
Yes to all three. K Walsh concurs.

Question

To: Verne, B. Michael; Walsh, Kathryn
Cc: (Redacted)
Subject: Associates

From: (Redacted)
Sent: Friday, January 20, 2012 10:38 AM
To: Verne, B. Michael; Walsh, Kathryn
Cc: (Redacted)
Subject: Associates

Ihave a few questions related to the associate concept and the decision tree onthe PNO's website.

(1) LP1 in the chart is termed theacquiring person. Is it also the acquiring entity?

(2)What if GP Sub is an LLC and Mr. X manages the investment decisions of GP Subunder contract? Would Mr. X be an associate of LP1?

(3)What if LP1 controls partnerships A, B, and C and A is the acquiring entity. Ifunder contract Mr. Y manages the investment decisions of B, would Mr. Y be anassociate of LP1?

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