Wis. Admin. Code Ethics Commission ETH 15.07 - Valuation
For the purpose of determining under s. 19.44(1), Stats., whether securities are valued at $5,000 or more:
(1) The value of securities listed on a stock
exchange is the closing price on the exchange.
(2) The value of securities not listed on a
stock exchange but traded in the over-the-counter market is the average of the
bid and asked price.
(3) The value
of securities for which no market information is readily available is:
(a) For common stock and equivalent
securities, the issuer's net worth divided by the number of outstanding shares
multiplied by the number of shares held.
(b) For preferred stock, the redemption price
or, if not redeemable, the stated value.
(c) For debt securities, the unpaid
balance.
Notes
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