Which of the following securities must be included in personal transaction reports to the chief compliance officer?

Including common stock in personal transaction reports to the chief compliance officer is essential due to its nature and potential for conflict of interest. Common stock represents ownership in a company and can lead to significant financial implications for individuals, especially those in positions that might influence investment decisions or company operations. Reporting these transactions enhances transparency and aligns with regulatory requirements aimed at preventing insider trading and managing conflicts.

Direct obligations of the U.S. Government and high-quality short-term debt instruments, while important, often have more standardized terms and are seen as safer investments with less potential for conflicts related to personal trading activities. Shares in non-reportable open-end mutual funds are typically excluded from reporting requirements due to their managed nature and lower propensity for conflicts since investors are not directly making decisions about the underlying securities. This distinction makes common stock particularly critical for compliance monitoring.