CalPERS employees, Board members, designees, and their spouses/registered domestic partners may potentially have access to inside knowledge or confidential information about CalPERS activities. These "Covered Persons" may be in positions to personally benefit through information obtained by nature of their employment.

The Personal Trading Regulation (PDF) requires Covered Persons to disclose personal investment holdings and use a personal trading pre-clearance system. For more information on CalPERS Personal Trading program, refer to the CalPERS Personal Trading Overview (PDF, 1.2 MB) presentation.