Company: FXB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027271
Chunk: 53

Company: Invesco CurrencyShares British Pound Sterling Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 53
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 a JD from the University of Houston Law Center and a BA degree in political science from the University of Michigan. Ms. Ringold was listed as a principal of the Sponsor on July 31, 2024. 

Code of Ethics 

Because the Trust has no employees, officers or directors, it does not have a code of ethics. Officers and employees of the Sponsor must comply with the Invesco Ltd. Global Code of Conduct, a copy of which will be made available to Shareholders without charge, upon request by appointment at 3500 Lacey Road, Suite 700, Downers Grove, Illinois.

Insider Trading Policy 

Affiliates of the Sponsor have adopted an Insider Trading Policy that applies to employees of Invesco. The Insider Trading Policy operates in concert with the Code of Ethics and Personal Trading Policy for North America (collectively, the “Trading Policies”).  The Sponsor believes that the Trading Policies are reasonably designed to promote compliance with insider trading laws, rules and regulations with respect to the purchase, sale and/or other dispositions of securities, including Shares of the Trust, as well as applicable rules and regulations of the Exchange. A copy of the Insider Trading Policy is filed as Exhibit 19.1 to this Annual Report on Form 10-K. 

ITEM 11. EXECUTIVE COMPENSATION.

The Trust has no employees, officers or directors. None of the managers or officers of the Sponsor receive compensation (including in the form of equity award grants) from the Trust. The Sponsor receives a Sponsor’s fee, which accrues daily at an annual nominal rate of 0.40% of the British Pound Sterling in the Trust (including all unpaid interest but excluding unpaid fees, each as accrued through the immediately preceding day) and is paid monthly. 

For the year ended December 31, 2024, the Trust incurred Sponsor’s fees of $257,872 of which $237,466 had been paid at December 31, 2024. Sponsor’s fees of $20,406 were unpaid at December 31, 2024 and are reported as a liability on the Statement of Financial Condition. 

For the year ended December 31, 2023, the Trust incurred Sponsor’s fees of $400,918 of which $370,010 had been paid at December 31, 2023. Sponsor’s fees of $30,908 were unpaid at December 31, 2023 and are reported as a liability on the Statement of Financial Condition.

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ITEM 12. SECURITY