Trs Campos External Report Clean

8/7/2019 Trs Campos External Report Clean

1/10

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3/10

,

ATOEY WO PRDUC

VILGD N FNT

aacions o pat es a TRS-purchased sbscto servc

bs bi b ide ers or invsmet cndar so a o en any.

II. of

Uon eg s aleos-nd t cnsdr ccrdny Exec Dircor Gea a ooh nt ivtgato was ecs loei as o s csaons a if re, t ces cud den 4 of

s d h n ngs TR.

Adly S d C s l am s Cdrd Kns LP to codc an vesa e aeatio ioer s

inlvd ra tr ay s ode tr eoe reqired t o a dus Te u an r coaes ee ia as of e ens vsa a odct rvw o 1 pa any dc po d sts Wi asisanc o Cons anr coes oisn peoay rvd t divda avin_ as

eed itvwd and ve ocun osss ofe Tutee d isss eas

I

plng r ta ea allgan ncdg sng nd tuya law yzi e vd vgan vd sss dscssd e vrl rtd su md fr h pa a smal et sn rimiy by a Ms rp ou ss s m aee a

inc o a S mlo ide vea nvsms fh y ha ocs divdua Ts inend t a dciso Insv e as Tuees re a d aage r sderaion eeohs tr S d rday aknio Sa abo s he ivsmn eisn T icins anTs sno S incdg w ad ese rav ransatios e t c n untrtd y creatg sco og b Tte in at ce es eeecd condc e ie tvews, rvwndocuntn

ii i nent oda (") dilenc rda D d us e ts aai i vestiaon tenvation uve dni vien hat y te ipecd any t co

CONFIDETALO; hs morandu a te lfa1o tctai a ba el mmnico y n I u trI , pla s l and r l th b a.


4/10

A DUCTG CN

un in e CIO. lo dnesces o dso twe h O Tte di ivss evel oye sb CIO a l moeon t n" w rrhaps, y id et Te poo th O vson or TR' m po d iio Emloeesdescrbd sces of CO puigv s oto chae adt onicton th S mbe's vw hy ecoe tt t CIO y hve n cg fo oe ofe trd Trs S niu d d a Cn bas o wokgw wo ae ndyd a a son re o o sns w t. A mee n oe o a h pec of nm Sff mee sessrd o or nvstt omao a CO

ci eson hih S mr d no age aed uonet t h Stmmberb hl ap S exe nety n how y hl t-fd em eleee w nsed o su et io oue omoss fel a o t o g s hanlng w "rscd o ocue o s o l see qe

, h CO rod eaob eaons o e nmndeso queso by RS mly. I y nss, fo he xn ds o a t seio vestoet w lat econ ad expeen noe of evest old bot o codng, e wa eti d

olgd o ov na y unood mpoce v pet of s d w e ooio h oues brd or ohc Doato ainsns n how ong o ndc T n ovovmt e ecios ao o edee sugee oen o st n h o idat h o genceee s o dve ee of spcc rqus rtees o akpaiu nves o o b or nas exi hs ee at i hma to e e eno w o qures ao (s O a e d e a oh esen ppon ree ake se nd hi S opo te aton ak o .

te nvsigao covd ve vnc ha ay eero uenced CIO espct n S me eso.

C. of is o omon St xd ei w y ez inesens

morum e ifao cntn a nd b a 3ce muC o who Is . If snf er. p us by lpone a r nl s m.


5/10

ATOEY WO PRVLGED D CNFIDAL

selecion proces n e Prvate Mks Gou at cnc pon, did

n w fr r d S member t mennglly x r ofopinion. F a ed mb invesnt ecn, e S mmbsbv th e CIO wprssing hm o rc lss w oto vuion of inveme. er, i ose s S bjeed te f a e C's aon wa n doce in rconaon (hs sn n omb wt aon y nvovd a Ts m v CIO' ivolvemen.) s

ce howve, e due dlgene ess ppd o b bust qmen d sr n a e hfhobjev vnof

on ivess. Te CIO x his eaons fr neg e deenc press o m o e as po hs eaer weg,xpnc nersding o oTRS. The CO so xd t

mm eque Sa o condc e y mieras rnfoatn e dems r.

Te nvegonf ntons w e d S e Pa p ney c e mpved e O' ge le pe ae cnbue sic o evien of axey o eve mpoe wo ess e reen i peny pn I a xn p o w r eneed o ese o neacs w C owsdn y d shcog of e ue digec oc ono nvs pu asao mus e ppove e Inea nvmntme ("C) d at poc e od a goros rev d

op cuo o a pnl an by eous si v ug h C. n e o ec eng kp. Fen fo o en obsevd possible fr vnppy ome or ve w re s condo foecne; wever, prtc, t s our neandnga suc s ae ony oc e mb f e IC we sse eg ake o evew . N o nac ug ue denceph Sa seme to l o "ee CIs w oda a ion o e r vew o Sawod pe l m aoenal t t x phs rss n d dg aa apeaps ud pn hag o ronay od a

nvm be apved b h C f a rce o opn n v a owhtg pesss

We n P Mk Gu log w ntr IsDvs has udrgone ca cg ls wo d af ye de eashi d pese or deson redg va

This mmrnu t intnded a 4fnUal nco o pn I dd d r e o


6/10

Cole' H LP

O O OIIEE AN FE

ss e e eo s a-h xciv D m chs

o es i e or e to m ee de

I m e ivesga coe dl dce (1) IC- as f e vs lc s ow f r c du of se eoeaons b (2) commuco ee Sa clly yug e d dlgce pacould be oved t e rot co d ee eio a ace fose eva ea d aians possnc o o ung e poe

U f TRS oa and ata a T.1 The issuenvoled inti te eato s hacc o d s y e R nrm

va lcm eod c k x magesd fo v coio sees qe ppe hve h g acs s infatn d mar o ludg daslv to ise e veh s Hov f fo ms e uesd d fo a o commeci e a RSpose), vlion o ca olcis may occr

1 fm. InNomber f2007,a Ts eid o leae, skg e Tee hep n g

ifoo d sg e ee whe h d access o a pacas scion abas2 obi ve equ fomao T Tfded o R mly ad

emo ye cl s s colleae p TRS stn a sc o e daabae a se o ealcmuan, a TR oyee ie o he sscpdaase su tales sr vate equi des c 199 o s e inoano e Te. fom R a utimel s as n dis i ee'py ei pth s pae oa

he fo of p - n n f a se vqy co. Ae t 's asssnce

The rtee hs bn y rieed b e ndi of v and lowe tview mn uaz h evew. e see s so e poved

to m cmuion eExv Do nd eTe.

2 h uc ab n e a pr coma e o wc TS scir nvmbe Theon e TRS e mpa seed h TS pson ue Dvv Maerl r e d fo xelc ol o f[RS's] . "

A and e lfoUo It ctis r I a 5dal munc o p or en wm is dr.f y hv tai e, g l


7/10

Co

TTE D D

h dthe cd t h leg, te Ttee nnsa h d not tk ri whhr us h ifaon m S wsse se fr S pses

A o fwig e request o a m h busiescles RS d rwrdi da receivd o s lee aitns as vle rep g hs Cyspch ok r cng o s cs cond n. u as a n ng t reqet Rse he suh y d oegue h a S noai b ued f a rl o Ted t h w s w h ld da ha TRSprovidd ws d s Copys ph s pvt e rst s he come e daa in h pks d piv pmnrda dvred essntly s

h use's d cpy d eo d t is ebe d ha - ap ob ers s arsof usig e S n e cmpy' oks pce mod. S mpyee tim w ivoe efn S fx co of daabeubscrpion, a s i hve e gss f T_onu. O os tw o, wih fx, a b oe t css slig s nden a

e fat esed se y aveve J e e Eh Pocy, whc st la p: "N s .ay t esces cle ay t o eso p RS fo psnl i "3Ho e s l vd o suo e col us oRSinfoo e h bk prae p ea wve.

3 Bs e se vidnc, fo o se o o o fh Tt Ecs Poy w t tt "t Employe ue eir eatonshpw o k oban prsol gn beyo agred om a pope z bu."

NDEL NOT: s monu and e fn it Id 6 c oly h r w & . u hv H a b


8/10

R WRK RUVLG FDT

Gven e s hn, nt flo a ee ey aacab c f i W a t

w no dmag a c ac4

I e te pv e olo l neenses or ccuece: a dec ab ntn oba oaio f sl gn or hve

t nfoaio s coecl ic k it wese se hs ; () i n TRy o ha s a pobl h Sprovdi te n ve oe f a den so, s w h as s ean wo ha ove he fao

(c) he a a xs e a e a Ts o a xe nfomao nSf Ts () e oacced so fo ' n a ved Tse aTRS d r t can a athe nhs o e; ) h ta hve equd a a reu o queio tat aoeng Br es eig 2007; ( h s e of ce R a pv sc vlaeavc o h St at ed o er v dcs d gve-e d o s b a alwd o h nfn (g o

aa d ot, o, h boks ug e ee' Cay, ae oe t v t hp ad Q) n e bl l ga s t.

b Septe nveigai ls od y h evl of c Tr o i hegesl v p o he ea Coel l a e had b ge ve i es t av cic o n e t Fe e Ts y od n vega

2 M e e lso requeste vosve an ernda o S fo he aa u ca sef o proc da d by x

4 e daabse cont o ve w o j he iae u f terat. They w for he pie chs nd pmaly w o e matg wt

CONFDENIAl N: Ths memrdu d fo ctai nntb a 7nal m n w yu hv aU , us y n n a


9/10

GODWAR

Y PRVLEGD AN NA

ms d diply in e o pivae me ed - o

e eaa hs prfce da y mpy pv pe memada he sejutd rq b a he s aw se aas oudu g br s T T x a e ae y s s pvte lm mmd aeu reqen bese hi e wd w m

. H he pvae pn t mmda proidd S xe a ae s da m d_odonly fr poss a TRS es As as y ial smi RS cvd by

T cd on b ct as d adng p dpa n coca atea

b h ee see a he ed to omay'spsen agai ee e c w a s. us rn de h h ou moda a -RS puro Ud se a bwe ng e enia f docs ndvag Secti IJ fe Ecs P Hv mae ue f h ea n memd ( chge hsn'pmoias), nor d but h moda emoy a wh fats abl ppng o

vt fcondni n v o J.V

ds o h ivig e reommas belw have been ae MJg s t TRS ha h ros fpm h ondan Iul. a i t Bd meg B a vs st Gv Es ol wh ee e nc S staf

e Exeue Dr d a h d du h s fB ndvidl ues. i a s o ew se o vce es fa nw po e cwo ve gs f h tio bwn Tu d uss e S, cudg h lng f qus russ f m dv e s wel as mrg ddcoe

B. S d rgize ad conduct ainfo l S d ss to ateues d n o l drtd mpm

COF O: d I itn d 8nfe muco y p w I hav I , s b lph d rgi h bm


10/10

TEY W PRUT

VG A A

efcivly. This ng sod rearbe cpoated t h aual g

ein b d S

C xe e CIO su work h to m eee t d CIO, pacuy but t y duge du dgee of e ivst e ces, t dpv d s, de r ocdes memzps gmn vauatng exal magr d s a to ce e tha e e ee eb d ntn apoa fcp aag es pus

NDNT NTE it i i a U m e p o . f he a u m o t a

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Trs Campos External Report Clean