# Mark S. Wallace > Federal judicial disclosures. URL: https://www.frixlaw.com/law-library/disclosures/29688 ## Record - **Judge:** Mark S. Wallace - **Year:** 2019 - **Pages:** 11 ## Text Wells Fargo Advisors Money Market Fund — Dividend US Treasury Bond — Interest SDD units — None — Sold SRS units — Distribution — Sold Wells Fargo Bank Deposit (x) — Interest ABX common stock — Dividend American Century Capital Preservation Fund — Dividend American Century Global Gold Fund — Dividend 3 December oats — None — Buy American Century Capital Preservation Fund — Dividend — Buy (add'l) American Century Capital Preservation Fund — Buy (add'l) UBS USA Deposit Account — Interest XOM common stock — Dividend Obsidian Energy — Dividend — Sold GDX units — Distribution NLY units — Dividend — Sold ABX common stock — Dividend COP common stock — Dividend PSX — Dividend ECA common stock — Dividend — Sold iShares TIPs Bond Fund — Distribution US Treasury obligations — Interest Federated Prudent Bear Fund — Distribution PHYS units — None Physical gold — None US Double Eagle coins — None Physical silver — None Bank of America savings account — Interest Bank of America checking account — Interest Union Bank checking account — Interest Chase Bank checking account — Interest Chase Bank savings account — Interest SDD units — None ABX common stock — Dividend XOM common stock — Dividend US Treasury obligations — Interest Federated Prudent Bear Fund — Distribution Vanguard Ginnie Mae Fund — Distribution Vanguard Inflation Index Fund — Distribution Rydex Inverse S&P5002x Strategy Fund — Distribution American Century Capital Preservation Fund — Distribution UBS U.S. deposit account — Interest GG common stock — Dividend — Merged (with line 55) US. Treasury obligations — Interest Dreyfus 100% USTreasury Money Market Fuind — Distribution Fidelity US Treasury Money Market Fund — Distribution Rydex US Government Money Market Fund — Distribution Grizzly Short Fund — Distribution Wells Fargo Bank Deposit Sweep — Interest ADM Investor Services — Distribution US Savings Bonds — Interest Northwestern Whole Life Mutual Life Insurance Policy — Dividend U.S. Treasury obligations — Interest Prudent Bear Fund — Distribution 20 PCLN common stock — None NEM common stock — Dividend BGEIX units — Distribution SGOL units — None NEM common stock — Dividend SLV units — None 200 MAR common stock — None — Buy (add'l) 200 MAR common stock — Buy (add'l) 200 MAR common stock — Buy (add'l) 20 CMG common stock — None 20 AZO common stock — None — Buy AVP common stock — Dividend — Sold TDOC common stock — Dividend — Buy 400 FEYE — Dividend 100 ARRY — Dividend — Sold Jackson National Life Insurance Annuity (H) JNL/Mellon Capital S&P 500 Index — Dividend JNL/MC Nasdaq 100 Index — Dividend JNL/DFA US Core Equity — Dividend JNL/MC SmCapIndex — Dividend JNL/T. Rowe Price Short-Term Bond — Dividend 1 March copper — None — Sold 2 December corn — None — Buy 2 December corn — Sold 3 December oats — Sold 1 December corn — None — Buy 1 December corn — Sold 1 December corn — None — Buy 1 December corn — Sold 1 January natural gas — None — Buy 1 January natural gas — Sold 1 December corn — None — Buy 1 December corn — Sold 1 March corn — None — Buy Trustee, Revocable Trust #1 (no reportable assets) Liability — Wells Fargo Advisors — Contingent liabilities for stocks sold short Liability — Bank of America — Credit card Liability — Chase Bank Visa Card — Credit card Liability — ADM Investor Services, Inc. — Liabilities on commodity and futures positions in excess of cash posted for margin Liability — US Bank — Credit card Liability — Union Bank — Credit card Liability — Chase Bank — Credit card Reimbursement — American Bankruptcy Institute — March 27-28, 2019 — Beverly Hills, CA — 2018 Bankruptcy Battleground West — Transportation, meals, hotel Reimbursement — American Bar Association, Section of Taxation — January 17-19, 2019 — New Orleans, LA — Midyear Meeting — Transportation, meals, hotel Reimbursement — Association of Insolvency and Restructuring Advisors — June 4-8, 2019 — Boston, MA — Annual Conference — Transportation, meals, hotel Some of the reported transactions are short sales. In such a transaction, the sale precedes the purchase. Gain or loss is realized when the short sale is closed out by purchasing the stock or commodity that was sold short. The audit function in the software fails to take these short sales into account and therefore generates a host of misleading "error" messages. For example, if a June emini S&P contract is sold on April 10, 2019 and bought on June 1, 2019, the transaction closes out on June 1, 2019 and nothing is owned as of the close of the reporting period on December 31, 2019. Short sales and short positions are denoted by a minus sign in front of the item being sold short, for example -20 PCLN common stock means that 20 shares of Priceline common stock was sold short. As of December 31, 2019, most or all my short positions in individual stocks were showing losses. None of the short sales generates any income, so there is a question as to whether I should be reporting short sales where there is no income and a loss position at the end of the year. Certain assets generate no income during the reporting period. For example, precious metals generate no income unless sold. Stocks that are sold short (such as CMG) generate no income while held short. Some of the reported transactions involve commodity, currency index or stock index futures contracts. In such a transaction, there is no "purchase price" as such. Instead, the buyer (or seller) posts cash margin to secure his promise to buy or sell at maturity. The liability on futures contracts can vary from day to day based upon daily price limits regarding how much a price for the underlying commodity, currency index or stock index can rise or fall in a single day. Some contracts have no limits. Therefore, the liability theoretically could be infinite. In actual practice, if a futures position moves against the holder, the brokerage company will issue a margin call requiring the holder to post additional cash margin within 24 to 72 hours of the call. If margin is not timely posted, the brokerage company will close out the position and bill the holder for the deficiency. Also, please note that when securities are sold short and then closed out in not one but two (partial) transactions, there is no "buy (partial)" notation to elect. Therefore, I simply used "buy." For open futures positions at the end of the year, if any, the unrealized gain or loss in the contract as of the close of business on December 31, 2019 is reported. Revocable Trust #1 no longer has a beneficial interest in any assets. I continue to use this trust as a nominee so that I can distinguish between separate property and community property. (My deceased mother was previously the sole beneficiary under this trust). Various individual stocks are sold short in my Wells Fargo Advisors securities account (for example, CMG, PCLN, etc.) This account is a margin account. If the stocks-sold-short positions were to significantly move against me, I could be required to post additional margin. This has never occurred in my case but is theoretically possible. Accordingly, I have listed this as a contingent liability in Part VI of this report. In certain instances name changes have occurred. For example, ETFS Physical Swiss Gold changed its name to Aberdeen Standard Swiss Gold Shares ETF. Priceline (PCLN) changed its name to BKNG. The report retains the old names. --- Source: Frix Law Library, https://www.frixlaw.com/law-library/disclosures/29688. Public record. Not legal advice.