The Separately Managed Account (SMA) Team is responsible for SMA model management, portfolio construction, management and trading of existing Fidelity’s retail managed accounts in addition to developing, researching and launching new products and initiatives. Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others.