AML/CIP Sample Clauses
The AML/CIP clause requires parties to comply with anti-money laundering (AML) and customer identification program (CIP) regulations. In practice, this means that parties must verify the identities of their clients, monitor transactions for suspicious activity, and maintain records as required by law. This clause ensures that the parties are not inadvertently facilitating illegal financial activities and helps mitigate the risk of regulatory violations.
AML/CIP. CMISC agrees to use its best efforts to provide anti-money laundering services to each Trust and to operate the Trust’s customer identification program, in each case in accordance with the written procedures developed by CMISC and adopted or approved by the Board of the Trust and with applicable law and regulation. CMISC further agrees to cooperate with any request from examiners or other personnel of U.S. Government agencies having jurisdiction over the Trust for information and records relating to the anti-money laundering procedures or services and consents to inspection by such examiners or other personnel for this purpose.
AML/CIP. CMS agrees to provide anti-money laundering services to the Trust and to operate the Trust’s customer identification program, in each case in accordance with the written procedures developed by CMS and adopted or approved by the Trustees of the Trust and with applicable law and regulation.
AML/CIP. CFS agrees to provide anti-money laundering services to the Trust and to operate the Trust's customer identification program, in each case in accordance with the written procedures developed by CFS and adopted or approved by the Trustees of the Trust and with applicable law and regulation.
AML/CIP. CMSI agrees to provide anti-money laundering services to the Company and to operate the Company’s customer identification program, in each case in accordance with the written procedures developed by CMSI and adopted or approved by the Trustees of the Company and with applicable law and regulation.
AML/CIP. In order to assist the Trust with the Trust’s anti-money laundering (“AML”) responsibilities under applicable AML laws, BFDS offers certain shareholder activity monitoring tools and procedures that are reasonably designed to: (i) promote the detection and reporting of potential money laundering and other illegal or suspicious activities; and (ii) assist in the collection of identifying information from and the verification of the identity of persons opening accounts with the Trust; and (c) screen persons opening and/or maintaining accounts with the Funds against any list of prohibited persons, entities and jurisdictions maintained and administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) (collectively, the “AML Procedures”). The Trust has elected to have BFDS implement the AML Procedures on behalf of the Trust and has delegated day-to-day operation of such AML Procedures to BFDS as stated in the attached schedule (“Schedule E” entitled “AML Delegation”) which may be changed from time to time subject to mutual written agreement between the parties.
AML/CIP. CMISC agrees to provide anti-money laundering services to each Trust and to operate the Trust’s customer identification program, in each case in accordance with the written procedures developed by CMISC and adopted or approved by the Trustees of the Trust and with applicable law and regulation.