Travelers 2004 Annual Report Download - page 48

that may be imposed include the suspension of individual employees, limitations on Nuveen Investments’
engaging in the investment management business for specified periods of time, the revocation of its advisory
subsidiaries’ registrations as investment advisers or other censures and fines.
Over the past 18 months, Nuveen Investments has responded to various industry wide information requests
from the SEC and other governmental entities which have arisen in connection with widely publicized regulatory
violations by industry participants. These information requests have addressed a number of subjects, including
market timing, late trading, pricing of portfolio securities, selective disclosure of portfolio information, revenue
sharing, and directed brokerage. Nuveen Investments has responded to these information requests and various
follow up requests and made any recommended revisions to its policies and procedures. It is possible that the
various regulatory violations that prompted these information requests could result in increased regulation of all
asset managers, including Nuveen Investments. Such regulation could have an adverse effect on the profitability
of Nuveen Investments.
OTHER INFORMATION
General Business Factors
In the opinion of the Company’s management, no material part of the business of the Company and its
subsidiaries is dependent upon a single customer or group of customers, the loss of any one of which would have
a materially adverse effect on the Company, and no one customer or group of affiliated customers accounts for as
much as 10% of the Company’s consolidated revenues.
Employees
At December 31, 2004, the Company had 29,200 full-time and 1,000 part-time employees. The Company
believes that its employee relations are satisfactory. None of the Company’s employees are subject to collective
bargaining agreements.
Source of Funds
For a discussion of the Company’s sources of funds and maturities of the long-term debt of the Company,
see Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations—
Liquidity and Capital Resources,” and note 10 of notes to the Company’s consolidated financial statements.
Taxation
For a discussion of tax matters affecting the Company and its operations, see note 11 of notes to the
Company’s consolidated financial statements.
Financial Information about Industry Segments
For financial information regarding industry segments of the Company, see Item 7, “Management’s
Discussion and Analysis of Financial Condition and Results of Operations,” and note 5 of notes to the
Company’s consolidated financial statements.
Recent Transactions
For information regarding recent transactions of the Company, see Item 7, “Management’s Discussion and
Analysis of Financial Condition and Results of Operations,” and note 1 of notes to the Company’s consolidated
financial statements.
Company Website and Availability of SEC Filings
The Company’s Internet website is www.stpaultravelers.com. Information on the Company’s website is not
a part of this Form 10-K. The Company makes available free of charge on its website or provides a link to the
Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K,
and any amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934, that are filed with the SEC. To access these filings, go to the Company’s website, then
click on “SEC Filings” under the “Investors” heading.
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