THE SHARPESHOOTER CHALLENGE (the “COMPETITION”) IS SPONSORED AND ADMINISTERED BY ALL OF US SECURITIES, LLC (‘ALL OF US’, THE ‘COMPANY’).
IT IS FREE TO OPEN A BROKERAGE ACCOUNT WITH ALL OF US. THERE IS NO MINIMUM ACCOUNT SIZE AND NO PURCHASE OR ENTRY FEE IS REQUIRED NOR ACCEPTED. ALL NON-IRA BROKERAGE ACCOUNTS AT ALL OF US, WHETHER FUNDED OR UNFUNDED (ZERO BALANCE), ARE ELIGIBLE TO PARTICIPATE AND RECEIVE AN AWARD. IRA ACCOUNTS ARE NOT ELIGIBLE. PARTICIPANTS WHO OPEN UP A BROKERAGE ACCOUNT WITH THE COMPANY MUST SET THE PRIVATE MODE SETTING TO OFF TO BE ELIGIBLE TO PARTICIPATE IN THE COMPETITION AND RECEIVE AN AWARD, AS DEFINED IN THE ELIGIBILITY CONDITIONS SECTION. NO OTHER ACTION TO ENTER THE COMPETITION IS REQUIRED.
THE COMPETITION PROVIDES A CASH AWARD AFTER THE END OF EACH MONTH BASED ON THE PREVIOUS THIRTY (30) CALENDAR DAY TOTAL RETURN ASSOCIATED WITH THE PARTICIPANT’S BROKERAGE ACCOUNT AT THE END OF THE MONTH DIVIDED BY THE STANDARD DEVIATION OF THE DAILY RETURNS OF THAT PORTFOLIO OVER THE SAME TIME PERIOD. WHILE THE WINNER IS CHOSEN PRIMARILY BASED ON THEIR SKILL, RECEIVING AN AWARD WILL BE AFFECTED BY THE NUMBER OF BROKERAGE ACCOUNT HOLDERS THE COMPANY HAS IN A GIVEN MONTH SINCE OTHER COMPANY BROKERAGE ACCOUNT HOLDERS WILL ALSO BE USING THEIR SKILLS TO GENERATE THEIR RETURNS AND THEIR VOLATILITY. REGISTERING TO PARTICIPATE IN THE COMPETITION CONSTITUTES ACCEPTANCE OF THESE OFFICIAL RULES. TO BE ELIGIBLE TO PARTICIPATE IN THE COMPETITION, EACH BROKERAGE ACCOUNT HOLDER REPRESENTS AND WARRANTS THAT THEY MEET THE ELIGIBILITY REQUIREMENTS AND AFFIRMS THEY HAVE READ, ACCEPT, AND WILL COMPLY WITH THESE OFFICIAL RULES. WITHOUT LIMITATION, THESE OFFICIAL RULES INCLUDE INDEMNITIES TO THE COMPANY FROM YOU, A LIMITATION OF YOUR RIGHTS AND REMEDIES, BINDING ARBITRATION OF CLAIMS, WAIVING CLASS ACTION CLAIMS, AND WAIVING THE RIGHT TO TRIAL BY JURY.
YOUR ALL OF US CUSTOMER AGREEMENTS WILL GOVERN YOUR RELATIONSHIP WITH THE COMPANY. AS WITH ALL BROKERAGE ACCOUNTS, WHETHER OR NOT ELIGIBLE FOR THE COMPETITION, INVESTMENTS MAY LOSE VALUE. NO INVESTMENTS ARE REQUIRED TO PARTICIPATE IN THE COMPETITION. CUSTOMERS MAY TRADE ON MARGIN AND MAY SELL SHORT IF THEY SO CHOOSE AND ALL OF US NEITHER ENCOURAGES NOR EVALUATES THESE DECISIONS ON THE PART OF ITS SELF-DIRECTED INVESTOR CUSTOMERS.
Internet access is required to access the All of Us Platform.
To be eligible for awards from this Competition, you agree to the decisions of the COMPANY, which will be final in all matters relating to this Competition.
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1. Key Dates
On the last day of each eligible calendar month, at 4:01 p.m. Eastern time, the monthly Competition period will end.
On the first business day following the end of the calendar month the COMPANY will process and analyze it’s clearing files and determine and announce a winner for the previous month which just ended. COMPANY will notify the potential winner within three (3) business days to provide the Affidavit and any other supporting documents required to claim the award.
2. Eligibility Conditions
The Participant must meet all legal requirements to open a brokerage account in the United States, including, but not limited to, be a natural person who is a legal resident of one of the fifty (50) United States or the District of Columbia, and be at least 18 years of age (the “Brokerage Account Holder”). To have their brokerage account be part of a monthly Competition and be eligible to win a cash award, the Brokerage Account Holder must have their brokerage account open and in good standing before the start of the first calendar day of the Competition. No funding or trading is required. The Company follows many government regulations in opening brokerage accounts, and both it and its clearing firm approve account openings based on these regulations. Specifically excluded from any awards from the Competition are: employees, shareholders, officers, directors, advertising and promotional agencies of the COMPANY and each of their subsidiaries and affiliates, and members of the immediate family (regardless of where they live) of a person mentioned above, or persons with whom such persons are domiciled (whether related to the person or not). In these Official Rules, “immediate family” includes mother, father, brothers, sisters, sons, daughters, partner or spouse. Also, specifically excluded are employees of any securities regulatory organization or exchange. If an ineligible person finishes the month in first place, there will be no winner, and no cash award will be made.
THE COMPANY PLATFORM HAS A PRIVATE MODE THAT EACH BROKERAGE ACCOUNT HOLDER CAN TURN ON OR OFF. WHEN PRIVATE MODE IS ON THE BROKERAGE ACCOUNT HOLDER’S DISPLAY NAME IS SET TO “ANONYMOUS” AND IS VISIBLE, BUT NOT CLICKABLE, IN VARIOUS LOCATIONS ON THE COMPANY PLATFORM TO ALL OTHER BROKERAGE ACCOUNT HOLDERS. IN CONTRAST, WHEN PRIVATE MODE IS OFF OTHER BROKERAGE ACCOUNT HOLDERS CAN CLICK AND SEE THE PERCENT ALLOCATION OF INVESTMENT HOLDINGS IN THE BROKERAGE ACCOUNT HOLDER’S PORTFOLIO, BUT CANNOT SEE DOLLAR AMOUNTS OF THOSE HOLDINGS. WHEN PRIVATE MODE IS OFF THE BROKERAGE ACCOUNT HOLDER HAS A DISPLAY NAME, CREATED BY THE BROKERAGE ACCOUNT HOLDER, THAT IS VISIBLE IN VARIOUS LOCATIONS ON THE COMPANY PLATFORM TO ALL OTHER BROKERAGE ACCOUNT HOLDERS. THE DISPLAY NAME CAN BE ANYTHING OF THE BROKERAGE ACCOUNT HOLDER’S CHOOSING THAT IS NOT TAKEN BY ANOTHER BROKERAGE ACCOUNT HOLDER AND IS NOT OFFENSIVE IN NATURE OR OTHERWISE PROHIBITED BY THE COMPANY. THE COMPANY RESERVES THE RIGHT, IN ITS SOLE DISCRETION, TO DETERMINE A DISPLAY NAME AS OFFENSIVE. A DISPLAY NAME DOES NOT NEED TO CONTAIN ANY PERSONALLY IDENTIFIABLE INFORMATION.
PRIVATE MODE MUST BE OFF TO BE ELIGIBLE FOR AN AWARD. IF PRIVATE MODE IS NOT OFF AT THE LAST DAY OF THE MONTH THE BROKERAGE ACCOUNT HOLDER’S DISPLAY NAME SHOWS AS “ANONYMOUS” AND THOSE ACCOUNTS WILL BE INELIGIBLE TO WIN AND WILL BE RANKED AT THE BOTTOM OF THE COMPETITION.
THE COMPETITION IS NOT OPEN TO THE GENERAL PUBLIC. YOU MUST HAVE A BROKERAGE ACCOUNT IN GOOD STANDING WITH THE COMPANY TO PARTICIPATE.
COMPANY CURRENTLY LIMITS EACH BROKERAGE ACCOUNT HOLDER TO ONE (1) BROKERAGE ACCOUNT WITH THE COMPANY AND LIMITS ELIGIBILTIY TO RECEIVE AN AWARD TO ONE BROKERAGE ACCOUNT PER BROKERAGE ACCOUNT HOLDER.
3. Competition criteria and formulas used for calculations
Each Brokerage Account Holders is limited to investing in the investment products offered through the Company.
For each monthly Competition the award will be given to the Brokerage Account Holder with the highest (ranked from most positive to most negative) numerical Ret/Vol (short-form for Return/Volatility) over the 30 calendar days ending on the last day of the designated month, where the numerator is the Total Percent Return above the risk-free rate on their account for the last 30 calendar days and the denominator (Vol) is the Percent Volatility of the daily returns associated with that specific brokerage account.
Brokerage account returns include positive accruals of dividends for long positions, and negative accruals of dividends for short positions, in the calculation of account returns. Such accruals occur on the first business day that a security position in the brokerage account trades “ex-dividend” (without rights to the dividend for the purchaser of the underlying security on that day). Long and short underlying investment positions that go ex-dividend will affect your return in proportion to the amount of the dividend even if not paid during the competition period.
“Ret” is defined the compounded daily return above the risk-free rate over the period of the monthly Competition and is numerically also equal to the total return for the period. The units are percent (%) and while the platform shows accuracy up to one decimal place, the Company will calculate additional decimal places, as determined by the Company, the determine the winner.
“Vol” is defined as the standard deviation of the daily returns. The units are percent (%) and while the platform shows accuracy up to one decimal place, the Company will calculate additional decimal places, as determined by the Company, the determine the winner.
Ret/Vol is defined as Ret divided by Vol. The ratio is unitless and while the platform shows accuracy up to one decimal place, the Company will calculate additional decimal places, as determined by the Company, to determine the winner.
There are no requirements for trading, no requirements regarding portfolio holdings, nor having any money in your brokerage account. A Brokerage Account Holder may choose to hold all cash or to not fund their brokerage account with any cash throughout the monthly period of a Competition. In both of these cases, the Ret (return) for the period will be defined as zero percent (0%) as will the Vol (volatility) (the “Undefined Ratio”). While the ratio of Ret / Vol would be mathematically undefined in this case, and in all other cases with zero Vol (volatility), in all cases where this ratio is undefined the Brokerage Account Holder is still eligible to win. All Undefined Ratio brokerage accounts are ranked below all defined ratios.
All Undefined Ratio brokerage accounts are considered tied for the purpose of ranking according to Ret/Vol. Furthermore, all ratios (both undefined and defined) are ranked among themselves according to the following tie-breaking criteria:
All ties in the Ret/Vol ratio are decided in favor of the Brokerage Account Holder with the larger account size based on the total value of the brokerage account at the end of the specific Competition (the “Account Size”). If there is a tie in Account Size, the Brokerage Account Holder who has had their brokerage account open with the Company the longest, based on date of first opening, will be declared the winner.
Cash awards may not be withdrawn from your brokerage account for at least six (6) months after the award is deposited into the brokerage account.
The Brokerage Account Holder with the highest Ret/Vol (Return / Volatility) ratio at the end of the monthly Competition period will receive a fixed cash award. Effective July 2021, the award amount is $100.
Please consult with your tax advisor about the appropriate tax treatment for any Award, and any tax implications associated with receipt of a cash payment for participation in a promotion such as this. For taxable brokerage accounts, the value of the Award received may be reported as Other Income on a Form 1099-MISC where required by applicable rules and regulations. The Company does not take responsibility for any tax or tax matters related to the payment of an Award.
The Company reserves the right to either decline to grant the Award, or to claw back the Award, or any related dollar proceeds, if the Brokerage Account Holder purchases an equity with any portion, or all, of the Award deposited into their brokerage account, that the Company determines, in its sole discretion, may have engaged in fraudulent activity or a violation of these Official Rules in connection with the qualifying brokerage account.
5. Award Winner Notification Process
The potential monthly winner(s) will be notified using the information provided in their brokerage account profile, by any of email or telephone, (method to be selected by Company in its sole discretion) in a commercially reasonable time after the drawing. The potential winner(s) must respond within two (2) business days and in accordance with the instructions in the notification or the Total Award may, in Company’s sole discretion, be forfeited. The Company is not responsible for electronic communications that are undeliverable as a result of any form of active or passive filtering of any kind, insufficient space in the Brokerage Account Holder’s email account to receive email messages, or any limitations associated with receipt or delivery of telephone or voice messages.
Each potential winner may be required to submit an affidavit of eligibility / release of liability / acceptance agreement (collectively, the “Affidavit”) and return the Affidavit within the time period specified at notification before being eligible to receive their award. If any potential winner fails or refuses to sign and return such Affidavit within the time period required by the Company, or if the notification is returned as rejected, faulty, unclaimed or returned as undeliverable to such potential winner, such potential winner may be disqualified and an alternate winner may be selected. Non-compliance with these Official Rules, and other terms established by the Company, shall result in disqualification and selection of an alternate winner. If any potential winner is found to be ineligible, or if they have not complied with these Official Rules and all other additional or supplemental rules or instructions, or if the potential winner cannot accept any portion of the Total Award, or declines the Total Award for any reason prior to being paid, such potential winner may be disqualified and an alternate potential winner may be selected.
6. General Conditions
The Company reserves the right to withdraw, modify, change, or amend this Competition in anyway, in the event of an error, technical problem or failure, computer virus, bugs, tampering, unauthorized intervention or any other cause beyond the reasonable control of the Company that interferes with the proper conduct of this Competition as contemplated by the Company and these Official Rules.
The Company reserves the right, with the consent of any regulatory body (if applicable), to cancel or suspend this Competition, or to amend these Official Rules at any time and in any way without prior notice or obligation.
The Competition is subject to all applicable federal, state and municipal laws.
The Company accepts no responsibility for loss, damage or claims caused by or resulting from the Competition or acceptance of an award. The Company does not assume any responsibility for technical malfunctions, human or technical error, printing errors, lost, delayed or garbled data or transmissions, omission, interruption, deletion, defect or failures of any telephone or computer lines or networks, computer equipment, software or any combination thereof.
Subject to Section 11 below, the decisions of the Company with respect to all aspects of this Competition and these Official Rules are final and binding on all Brokerage Account Holders without right to appeal.
As a condition of being eligible to receive a Total Award from this Competition (except where prohibited by law), the Brokerage Account Holder grants the Company the irrevocable, sublicensable, and absolute right and permission to use, publish, post, or display their platform display name, image (including, without limitation, your individual profile picture as displayed on the platform), likeness, photograph, voice, prize information, trade performance information, biographical information, any quotes attributable to you, and any other indicia of persona (regardless of whether altered, changed, modified, edited, used alone, or used with other material in the Company’s sole discretion) for advertising, trade, publicity, and promotional purposes without further obligation or compensation of any kind to you anywhere, in any medium now known or hereafter discovered or devised (including, without limitation, via text message, via social media, on the Internet, and on the Company website), worldwide, without any limitation of time and without any compensation, notice, or the opportunity to review or approve such use, except where prohibited by law. Nothing contained in these Official Rules obligates the Company to make use of any of the rights granted in this section. You waive any right to inspect or approve any use of any of the rights granted in this section.
You acknowledge and agree that your eligibility for a Total Award does not place Company in a position that is any different from the position held through the normal course of having you as a Brokerage Account Holder.
You understand and agree that neither the Company nor the Competition recommend any security, financial product or instrument, nor does any mention of a particular security on the Company platform constitute a recommendation to buy, sell, or hold that or any other security, financial product or investment. You understand and agree that the Competition does not involve or provide tax, legal, or investment advice. You understand and agree that the Competition does not entail or provide any investment advice or opinion regarding the nature, potential, value, suitability or profitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. You understand and agree that no investments are required to be eligible to receive a Fixed Award, Variable Award, or Total Award and that any investment decisions you make will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, financial condition, and liquidity needs. You understand and agree that any content posted on a message board accessed by you is not connected with the Competition and is only the opinion of the person posting such content.
This is not an offer or solicitation for brokerage services, investment advisory services, or other products or services in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the securities laws or other local laws and regulations of that jurisdiction.
7. Intellectual Property
All intellectual property, including without limitation, all trademarks, trade names, logos, designs, promotional materials, web pages, source code, drawings, illustrations, slogans and representations are owned or licensed by the Company and/or its/their affiliates.
All rights are reserved.
Unauthorized copying or use of any copyrighted material or intellectual property without the expressed written consent of the Company is strictly prohibited.
In the event of any discrepancy or inconsistency between the terms and conditions of these Official Rules and disclosures or other statements contained in any Competition-related materials, including, but not limited to, the website and entry form, the terms and conditions of these Official Rules shall prevail, govern, and control.
9. Personal Information
10. Indemnification Limitation of Liability and Release
In addition to the other limitations of liability expressed elsewhere in these Official Rules, the Company is not responsible for any kind of technical or other malfunction or any human error, which may occur in the processing, operation, or participation in the Competition. The Company furnishes the information available on the Company platform without responsibility for accuracy and each Brokerage Account Holder agrees that errors contained in such information will not be made the basis for any claim, demand or cause of action. The Company believes its data services to be reliable, but accuracy is not warranted or guaranteed. The Company is not in any way responsible or liable for any third-party features or functions, including, without limitation, those related to any social media platform, which may be incorporated into the Company platform. AS A PART OF BEING ELIGIBLE FOR ANY FIXED AWARD, VARIABLE AWARD, OR TOTAL AWARD FROM THE COMPETITION, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, YOU AGREE TO RELEASE, HOLD HARMLESS AND INDEMNIFY THE COMPANY, SUBSIDIARIES, AFFILIATED COMPANIES, AND PROMOTION AGENCIES, AND EACH OF THEIR RESPECTIVE OFFICERS, DIRECTORS, SHAREHOLDERS, MEMBERS, EMPLOYEES, AGENTS, ASSIGNS, BRANDING PARTNERS, AND ALL OTHERS ASSOCIATED WITH THE DEVELOPMENT AND EXECUTION OF THIS COMPETITION (THE “COMPETITION ENTITIES”) FROM ANY CLAIMS OR LIABILITY WHATSOEVER FOR INJURIES OR DAMAGES OF ANY KIND SUSTAINED IN CONNECTION WITH THE COMPETITION OR THE ACCEPTANCE, POSSESSION, USE, MISUSE, DELIVERY, OR AWARDING OF THE AWARD, OR WHILE PREPARING FOR, PARTICIPATING IN, OR TRAVELING TO OR FROM ANY AWARD- OR COMPETITION-RELATED ACTIVITY INCLUDING, WITHOUT LIMITATION, ANY INJURY, DAMAGE, DEATH, LOSS, OR ACCIDENT TO PERSON OR PROPERTY, FOR LOSS OF PROFITS, BUSINESS INTERRUPTION, LOSS OF BUSINESS INFORMATION OR DATA, LOSS OF PRIVACY, FAILURE TO MEET ANY DUTY OR NEGLIGENCE. YOU UNDERSTAND AND AGREE THAT ALL RIGHTS UNDER SECTION 1542 OF THE CIVIL CODE OF CALIFORNIA AND ANY SIMILAR LAW OF ANY STATE OR TERRITORY OF THE UNITED STATES ARE HEREBY EXPRESSLY WAIVED BY YOU. SECTION 1542 READS AS FOLLOWS:
“CERTAIN CLAIMS NOT AFFECTED BY A GENERAL RELEASE. A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”
11. Disputes/Governing Law
YOU AGREE THAT THESE OFFICIAL RULES AND YOUR ELIGIBILITY FOR A FIXED AWARD, VARIABLE AWARD, OR TOTAL AWARD FROM THE COMPETITION ARE ALSO GOVERNED BY YOUR ALL OF US CUSTOMER AGREEMENTS.
THE PARTIES EACH AGREE TO FINALLY SETTLE ALL DISPUTES ACCORDING TO THE ALL OF US CUSTOMER AGREEMENTS.
The invalidity or unenforceability of any provision of these Official Rules or the Affidavit will not affect the validity or enforceability of any other provision. In the event that any provision of the Official Rules or the Affidavit is determined to be invalid or otherwise unenforceable or illegal, the other provisions will remain in effect and will be construed in accordance with their terms as if the invalid or illegal provision were not contained herein. Company’s failure to enforce any term of these Official Rules or any other guidelines, instructions, policies, or term will not constitute a waiver of that provision. Brokerage Account Holder agrees to waive any rights to claim ambiguity of these Official Rules. Headings are solely for convenience of reference and will not be deemed to affect, in any manner, the meaning or intent of the documents or any provision hereof.