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Terms & Definitions -

(continued)

when coupled with disclosure of the client’s identity,

Examples:

might expose the client to an official investigation or to

•

Alice McSherry deposits $500 per month into her

civil or criminal liability. A patient’s name is protected

employer’s deferred compensation program. She has

by physician-patient privilege only when disclosure of

chosen to purchase shares in two diversified mutual

the patient’s name would also reveal the nature of the

funds registered with the Securities and Exchange

treatment received by the patient. A patient’s name is

Commission. Because her funds are invested solely

also protected if the disclosure of the patient’s name

in non-reportable mutual funds (see Schedule A-1

would constitute a violation by an entity covered under the

instructions), Alice has no disclosure requirements with

Federal Health Insurance Portability and Accountability Act

regard to the deferred compensation program.

(also known as HIPAA).

•

Bob Allison has $6,000 in an individual retirement

Public Officials Who Manage Public Investments:

account with an investment firm. The account

Individuals who invest public funds in revenue-producing

contains stock in several companies doing business

programs must file Form 700. This includes individuals

in his jurisdiction. One of his stock holdings, Misac

who direct or approve investment transactions, formulate

Computers, reached a value of $2,500 during the

or approve investment policies, and establish guidelines

reporting period. The value of his investment in each of

for asset allocations. FPPC Regulation 18700.3 defines

the other companies was less than $2,000. Bob must

“public officials who manage public investments” to include

report Misac Computers as an investment on Schedule

the following:

A-1 because the value of his stock in that company was

$2,000 or more.

•

Members of boards and commissions, including

pension and retirement boards or commissions, and

•

Adriane Fisher has $5,000 in a retirement fund that

committees thereof, who exercise responsibility for the

invests in real property located in her jurisdiction. The

management of public investments;

value of her interest in each piece of real property held

in the fund was less than $2,000 during the reporting

•

High-level officers and employees of public agencies

period. Although her retirement fund holds reportable

who exercise primary responsibility for the management

assets, she has no disclosure requirement because she

of public investments (for example, chief or principal

did not have a $2,000 or greater interest in any single

investment officers or chief financial managers); and

piece of real property. If, in the future, the value of her

•

Individuals who, pursuant to a contract with a state

interest in a single piece of real property reaches or

or local government agency, perform the same or

exceeds $2,000, she will be required to disclose the

substantially all the same functions described above.

real property on Schedule B for that reporting period.

Registered Domestic Partners: Filers must report

Trusts: Investments and interests in real property held

investments and interests in real property held by, and

and income received by a trust (including a living trust) are

sources of income to, registered domestic partners. (See

reported on Schedule A-2 if you, your spouse or registered

Regulation 18229.)

domestic partner, and your dependent children together

Retirement Accounts (for example, deferred

had a 10% or greater interest in the trust and your pro rata

compensation and individual retirement accounts

share of a single investment or interest in real property was

(IRAs)): Assets held in retirement accounts must be

$2,000 or more.

disclosed if the assets are reportable items, such as

You have an interest in a trust if you are a trustor and:

common stock (investments) or real estate (interests

in real property). For help in determining whether your

•

Can revoke or terminate the trust;

investments and real property are reportable, see the

•

Have retained or reserved any rights to the income or

instructions to Schedules A-1, A-2, and B.

principal of the trust or retained any reversionary or

remainder interest; or

If your retirement account holds reportable assets, disclose

only the assets held in the account, not the account

•

Have retained any power of appointment, including the

itself. You may have to contact your account manager to

power to change the trustee or the beneficiaries.

determine the assets contained in your account.

Or you are a beneficiary and:

Schedule A-1: Report any business entity in which the

•

Presently receive income; or

value of your investment interest was $2,000 or more

•

Have an irrevocable future right to receive income

during the reporting period. (Use Schedule A-2 if you have

or principal. (See FPPC Regulation 18234 for more

a 10% or greater ownership interest in the business entity.)

information.)

Schedule B: Report any piece of real property in which

the value of your interest was $2,000 or more during the

FPPC Form 700 Reference Pamphlet (2016/2017)

reporting period.

FPPC Advice Email: advice@fppc.ca.gov

FPPC Toll-Free Helpline: 866/275-3772

Ref. Pamphlet - 15

Instructions For Fppc Form 700 Reference Pamphlet - Statement Of Economic Interests - 2016/2017 Page 15

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