AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable Fund shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 107 contracts

Samples: Services Agreement (Federated Hermes Fixed Income Securities, Inc.), Services Agreement (Federated Hermes Total Return Series, Inc.), Services Agreement (Federated Hermes Equity Funds)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ which includes the registration for accounts opened through NSCC/FundSERV, the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) ~~Determine~~ In consultation with the Fund’s AML Compliance Officer, determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency. If Transfer Agent is unable to obtain or verify customer identification information, notify the Fund’s AML Compliance Officer; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (nm) ~~Upon the request by the Fund~~On an on-going basis, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (on) ~~Create~~ Commencing on or before the date as determined by FinCEN, create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ (o) Conduct appropriate initial AML training for new Transfer Agent associates and ongoing annual AML training for existing associates. (p) Provide the Fund with a written audit report summary of the Transfer Agent’s annual AML external auditor’s compliance report (currently known as Building Compliance Confidence”). 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund’s AML Compliance Officer prior to filing, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A BOSTON FINANCIAL DATA SERVICES, INC. By: /s/ Xxxxxxx Xxxxx By: /s/ Xxxxxxx X. Xxx Name: Xxxxxxx Xxxxx Name: Xxxxxxx X. Xxx Title: Treasurer Title: COO As an Authorized Officer on behalf of each of the Funds indicated on Schedule A A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Funds to be included, along with each Fund’s frequency trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 9 contracts

Samples: Transfer Agency and Service Agreement (Morgan Stanley Institutional Fund Inc), Transfer Agency and Service Agreement (Morgan Stanley Institutional Fund Inc), Transfer Agency and Service Agreement (Morgan Stanley Institutional Fund Inc)

Appears in 5 contracts

Samples: Transfer Agency and Service Agreement (Nuveen Investment Trust Iii), Transfer Agency and Service Agreement (Nuveen Investment Funds Inc), Transfer Agency and Service Agreement (Nuveen Municipal Trust/Ma)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ which includes the registration for accounts opened through NSCC/FundSERV, the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) ~~Determine~~ In consultation with the Fund’s AML Compliance Officer, determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency. If Transfer Agent is unable to obtain or verify customer identification information, notify the Fund’s AML Compliance Officer; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (nm) ~~Upon the request by the Fund~~On an on-going basis, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (on) ~~Create~~ Commencing on or before the date as determined by FinCEN, create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ (o) Conduct appropriate initial AML training for new Transfer Agent associates and ongoing annual AML training for existing associates. (p) Provide the Fund with a written audit report summary of the Transfer Agent’s annual AML external auditor’s compliance report (currently known as Building Compliance Confidence”). 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund’s AML Compliance Officer prior to filing, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY BOSTON FINANCIAL DATA SERVICES, AND NOT JOINTLY, AS LISTED ON INC. SCHEDULE A By: /s/ Fxxxxxx Xxxxx By: /s/ Rxxxxxx X. Xxx Name: Fxxxxxx Xxxxx Name: Rxxxxxx X. Xxx Title: Treasurer Title: COO As an Authorized Officer on behalf of each of the Funds indicated on Schedule A A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Funds to be included, along with each Fund’s frequency trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 3 contracts

Samples: Transfer Agency and Service Agreement (Cohen & Steers Low Duration Preferred & Income Fund, Inc.), Transfer Agency and Service Agreement (Cohen & Steers Active Commodities Strategy Fund, Inc.), Transfer Agency and Service Agreement (Cohen & Steers MLP & Energy Opportunity Fund, Inc.)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ M3Sixty and with respect to the ownership of ~~Shares~~ shares in the ~~Fund~~ Trust for which ~~DST~~ M3Sixty maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ M3Sixty shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~M3Sixty; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the ~~Fund~~ Trust with a copy of the SAR within a reasonable time after filing; and notify the ~~Fund~~ Trust if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the ~~Fund~~ Trust and provided to ~~DST~~ M3Sixty pursuant to USA PATRIOT Act Sec. 314(a). Provide the ~~Fund~~ Trust with the necessary information for it to respond to such request within required time frame;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the ~~Fund~~ Trust and notify the ~~Fund~~ Trust in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Trust by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with ~~31 C.F.R. 103.176(b)~~ applicable regulations for new and existing correspondent accounts for foreign financial institutions (as defined in ~~31 C.F.R. 103.175~~the applicable regulations). ~~DST~~ M3Sixty will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ M3Sixty will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ M3Sixty will contact the ~~Fund~~Trust’s AML Officer for further instruction. (nm) Upon the request by the ~~Fund~~Trust, conduct due diligence to determine if the ~~Fund~~ Trust is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193)~~Act. (on) Create and retain records required under ~~31 CFR 103.33~~ the “Travel Rule” in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ M3Sixty detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ M3Sixty of a SAR or other similar report or notice to OFAC, then ~~DST~~ M3Sixty shall also immediately notify the ~~Fund~~Trust, unless prohibited by applicable law.

Appears in 3 contracts

Samples: Investment Company Services Agreement (360 Funds), Investment Company Services Agreement (M3Sixty Funds Trust), Investment Company Services Agreement (M3Sixty Funds Trust)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ which includes the registration for accounts opened through NSCC/FundSERV, the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. Schedule 1.1(f) - 2 (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) ~~Determine~~ In consultation with the Fund’s AML Compliance Officer, determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency. If Transfer Agent is unable to obtain or verify customer identification information, notify the Fund’s AML Compliance Officer; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (nm) ~~Upon the request by the Fund~~On an on-going basis, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (on) ~~Create~~ Commencing on or before the date as determined by FinCEN, create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ (o) Conduct appropriate initial AML training for new Transfer Agent associates and ongoing annual AML training for existing associates. Schedule 1.1(f) - 3 (p) Provide the Fund with a written audit report summary of the Transfer Agent’s annual AML external auditor’s compliance report (currently known as Building Compliance Confidence”). 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund’s AML Compliance Officer prior to filing, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A BOSTON FINANCIAL DATA SERVICES, INC. By: /s/ Xxxxxxx Xxxxx By: /s/ Xxxxxxx X. Xxx Name: Xxxxxxx Xxxxx Name: Xxxxxxx X. Xxx Title: Treasurer Title: COO As an Authorized Officer on behalf of each of the Funds indicated on Schedule A Schedule 1.1(f) - 4 A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Funds to be included, along with each Fund’s frequency trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 2 contracts

Samples: Transfer Agency and Service Agreement (Morgan Stanley Institutional Fund Inc), Transfer Agency and Service Agreement (Morgan Stanley Institutional Fund Inc)

Appears in 2 contracts

Samples: Master Transfer Agency and Service Agreement (Calvert Social Investment Fund), Master Transfer Agency and Service Agreement (Calvert Variable Products, Inc.)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the ~~Fund~~ Funds if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the ~~Fund~~ Funds and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the ~~Fund~~ Funds with the necessary information for it to respond to such request within required time frame; (k) Implement CIP Program procedures on behalf of the Fund, including (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of a Fund in accordance with the provisions of the USA PATRIOT Act Sec. 326 (and the regulations thereunder) applicable to the Fund and notify ~~the~~ such Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Funds by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b)~~ 1010.610 for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact ~~the~~ such Fund’s AML Officer for further instruction. (nm) Upon the request by ~~the~~ a Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. ~~103.193~~1010.610). . (on) Create and retain records required under 31 CFR ~~103.33~~ 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 2 contracts

Samples: Transfer Agency and Service Agreement (Ssga Funds), Transfer Agency and Service Agreement (State Street Institutional Investment Trust)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the ~~Fund~~ Portfolios of the Trust for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On on a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) ~~Submit~~ submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On on a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) ~~Review~~ review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) ~~Review~~ review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) ~~Review~~ review accounts with small balances followed by large purchases; (g) ~~Review~~ review accounts with frequent activity within a specified date range followed by a large redemption; (h) ~~Review~~ review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) ~~Determine~~ in accordance with, 31 C.F.R. 1024.320, determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the ~~Fund~~ Trust with a copy of the SAR within a reasonable time after filing; and notify the ~~Fund~~ Trust if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such ~~filing;~~ filing (31 C.F.R. 1024.320) ; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Trust and which may be modified from time to time. (j) ~~Compare~~ compare account information to any FinCEN request received by the ~~Fund~~ Trust and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a)~~. Provide~~ ; provide the ~~Fund~~ Trust with the necessary information for it to respond to such request within required time ~~frame~~frame (31 C.F.R. 1010.520); (k) (i) ~~Take~~ take reasonable steps to verify the identity of any person seeking to become a new customer of the ~~Fund~~ Trust and notify the ~~Fund~~ Trust in the event such person cannot be verified, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as required, and (iii) ~~Determine~~ determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Trust by any government agency; (l) ~~Except~~ except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the ~~Fund~~Trust, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ “Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the ~~Fund~~ Trust in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Trust by any government agency. During the time an entity remains a customer of the Trust, if the entity provides notification of any change to the Beneficial Owner(s), the verification process described above shall be followed with respect to such new owner; (m) ~~Conduct~~ conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b~~1010.610(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605(f)~~. DST will~~ ); perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a risk ranking at a level of medium or ~~above risk-ranking~~above, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the ~~Fund~~Trust’s AML Officer for further instruction.; (n) ~~Upon the~~ upon request by the ~~Fund~~Trust, conduct due diligence to determine if the ~~Fund~~ Trust is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193).~~Act; and (o) Create and retain records required under 31 ~~CFR 103.33~~ C.F.R. 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the ~~Fund~~Trust, unless prohibited by applicable law.

Appears in 2 contracts

Samples: Transfer Agency and Service Agreement (Pimco Funds), Transfer Agency and Service Agreement (Pimco Funds)

AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 2 contracts

Samples: Services Agreement (Oaktree Strategic Credit Fund), Services Agreement (Frost Family of Funds)

AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (Nuveen Churchill Private Capital Income Fund)

AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review ~~accounts with frequent activity within a specified date range followed by a large redemption; (h) Review~~ purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (ih) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (ji) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (lk) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (ml) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (nm) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (on) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (AG Twin Brook Capital Income Fund)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (mk) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction. (nl) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (om) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A BOSTON FINANCIAL DATA SERVICES, INC. By: /s/ Xxxx Xxxxx By: /s/ Xxxxxxx X. Xxxxxxx Name: Xxxx Xxxxx Name: Xxxxxxx X. Xxxxxxx Title: Treasurer Title: As an Authorized Officer on behalf of each of the Funds indicated on Schedule A A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Portfolios to be included, along with each Portfolio’s frequent trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Smead Funds Trust)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ M3Sixty and with respect to the ownership of ~~Shares~~ shares in the ~~Fund~~ Trust for which ~~DST~~ M3Sixty maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ M3Sixty shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~M3Sixty; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the ~~Fund~~ Trust with a copy of the SAR within a reasonable time after filing; and notify the ~~Fund~~ Trust if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (j) Compare account information to any FinCEN request received by the ~~Fund~~ Trust and provided to ~~DST~~ M3Sixty pursuant to USA PATRIOT Act Sec. 314(a). Provide the ~~Fund~~ Trust with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the ~~Fund~~ Trust and notify the ~~Fund~~ Trust in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Trust by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with ~~31 C.F.R. 103.176(b)~~ applicable regulations for new and existing correspondent accounts for foreign financial institutions (as defined in ~~31 C.F.R. 103.175~~the applicable regulations). ~~DST~~ M3Sixty will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ M3Sixty will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ M3Sixty will contact the ~~Fund~~Trust’s AML Officer for further instruction. (nm) Upon the request by the ~~Fund~~Trust, conduct due diligence to determine if the ~~Fund~~ Trust is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193)~~Act. (on) Create and retain records required under ~~31 CFR 103.33~~ the “Travel Rule” in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ M3Sixty detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ M3Sixty of a SAR or other similar report or notice to OFAC, then ~~DST~~ M3Sixty shall also immediately notify the ~~Fund~~Trust, unless prohibited by applicable law.

Appears in 1 contract

Samples: Investment Company Services Agreement (360 Funds)

AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST shall~~DSTshall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required ~~time frame~~timeframe; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (Apollo Debt Solutions BDC)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On on a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) ~~Submit~~ submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On on a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) ~~Review~~ review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) ~~Review~~ review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) ~~Review~~ review accounts with small balances followed by large purchases; (g) ~~Review~~ review accounts with frequent activity within a specified date range followed by a large redemption; (h) ~~Review~~ review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) ~~Determine~~ in accordance with, 31 C.F.R. 1024.320, determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such ~~filing;~~filing (31 C.F.R. 1024.320); 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (j) ~~Compare~~ compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a)~~. Provide~~ ; provide the Fund with the necessary information for it to respond to such request within required time ~~frame~~frame (31 C.F.R. 1010.520); (k) (i) ~~Take~~ take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as required, and (iii) ~~Determine~~ determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) ~~Except~~ with respect to ~~any~~ certain legal entities ~~excluded under applicable regulation: (i)~~ seeking to open new accounts with the Fund, take reasonable steps to verify ~~the identity of legal entities seeking to become new customers of the Fund, including verifying~~ the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230~~, (ii) notify the Fund in~~ . In the event ~~that~~ the Beneficial Owner is not a natural person, the Transfer Agent will follow up with the requesting entity to request one. In the event the proper identity of ~~such Beneficial Owner(s) is not provided upon request to such entity or~~ a natural person cannot be verified, ~~(iii) maintain records of the information used to verify~~ such ~~Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency~~account will not be established; (m) ~~Conduct~~ conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b~~1010.610(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605(f)~~. DST will~~ ); perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a risk ranking at a level of medium or ~~above risk-ranking~~above, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction.; (n) ~~Upon the~~ upon request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193).~~Act; and (o) Create and retain records required under 31 ~~CFR 103.33~~ C.F.R. 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A DST ASSET MANAGER SOLUTIONS, INC. By: By: Name: Name: Title: Title: As an Authorized Officer on behalf of each of the Funds indicated on Schedule A A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Funds to be included, along with each Fund’s frequency trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Keeley Funds, Inc.)

AML Procedures1. 4.1 Consistent with the services provided by SS&C DST and with respect to the ownership of ~~Shares~~ units in the Fund for which SS&C DST maintains the applicable ~~Fund shareholder~~ member information, SS&C DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of SS&C DST, which have been made available to the Fund and which may be modified from time to time. (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with SS&C DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to SS&C DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). SS&C DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, SS&C DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, SS&C DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . 28 of 30 (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that SS&C DST detects activity as a result of the foregoing procedures, which necessitates the filing by SS&C DST of a SAR or other similar report or notice to OFAC, then SS&C DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (MVP Private Markets Fund)

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (American Beacon Institutional Funds Trust)

AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (Wildermuth Endowment Fund)

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Commerce Funds)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ SS&C and with respect to the ownership of Shares in the Fund for which ~~DST~~ SS&C maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ SS&C shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~SS&C; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ SS&C pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of SS&C, which have been made available to the Fund and which may be modified from time to time. (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ SS&C will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ SS&C will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ SS&C will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that ~~DST~~ SS&C detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ SS&C of a SAR or other similar report or notice to OFAC, then ~~DST~~ SS&C shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (Brookfield Infrastructure Income Fund Inc.)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On on a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) ~~Submit~~ submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On on a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) ~~Review~~ review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) ~~Review~~ review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) ~~Review~~ review accounts with small balances followed by large purchases; (g) ~~Review~~ review accounts with frequent activity within a specified date range followed by a large redemption; (h) ~~Review~~ review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) ~~Determine~~ in accordance with, 31 C.F.R. 1024.320, determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such ~~filing;~~filing (31 C.F.R. 1024.320) ; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (j) ~~Compare~~ compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a)~~. Provide~~ ; provide the Fund with the necessary information for it to respond to such request within required time ~~frame~~frame (31 C.F.R. 1010.520); (k) (i) ~~Take~~ take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as required, and (iii) ~~Determine~~ determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) ~~Except~~ with respect to ~~any~~ certain legal entities ~~excluded under applicable regulation: (i)~~ seeking to open new accounts with the Fund, take reasonable steps to verify ~~the identity of legal entities seeking to become new customers of the Fund, including verifying~~ the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230~~, (ii) notify the Fund in~~ . In the event ~~that~~ the Beneficial Owner is not a natural person, the Transfer Agent will follow up with the requesting entity to request one. In the event the proper identity of ~~such Beneficial Owner(s) is not provided upon request to such entity or~~ a natural person cannot be verified, ~~(iii) maintain records of the information used to verify~~ such ~~Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency~~account will not be established; (m) ~~Conduct~~ conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b~~1010.610(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605(f)~~. DST will~~ ); perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a risk ranking at a level of medium or ~~above risk-ranking~~above, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction.; (n) ~~Upon the~~ upon request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193).~~Act; and (o) Create and retain records required under 31 ~~CFR 103.33~~ C.F.R. 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law. X.X. XXXXXX PRIVATE INVESTMENTS INC., on behalf of the Trust and each Fund listed on Schedule A hereto, individually and not jointly By: /s/ Xxxx Xxxxxx Name: Xxxx Xxxxxx Title: President DST ASSET MANAGER SOLUTIONS, INC. By: /s/ Xxxxxxxx X. Xxxxxxxx Name: Xxxxxxxx X. Xxxxxxxx Title: Managing Director In connection with the provision of the Services by DST AMS, Fund shall: 1. With respect to each Fund, identify the states and territories where the Fund’s shares will be offered for sale; 2. Determine the availability of any exemptions under a jurisdiction’s Blue Sky laws with the assistance of DST AMS; 3. Work with DST AMS to identify what systematic exemptions will be taken by the Funds; 4. Provide written instructions in DST AMS’ standard format to implement systematic exemptions and exclusions from reporting where practicable on the DST AMS Blue Sky software system;

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Six Circles Trust)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes ~~against~~ through the Office of Foreign Assets Control (“OFAC”) ~~database, the Politically Exposed Persons (“PEP”) database,~~ database and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC ~~database, the PEP database,~~ databases and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by check after address change; redemption by wire ~~within 34 days of~~ after banking information change; ~~rapid depletion of account balance~~ or redemptions over a certain % after establishment~~; and redemption by check within 34 days of address change~~); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction. (nm) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law. By: /s/ Xxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxx Name: Xxxx X. Xxxxxx Name: Xxxxxxx X. Xxx Title: President Title: Senior Vice President As an Authorized Officer on behalf of each of the Funds indicated on Schedule A 1. On each day on which both the New York Stock Exchange and the Fund are open for business (a “Business Day”), the TPA(s) shall receive, on behalf of and as agent of the Fund, Instructions (as hereinafter defined) from the Plan. Instructions shall mean as to each Fund (i) orders by the Plan for the purchases of Shares, and (ii) requests by the Plan for the redemption of Shares; in each case based on the Plan’s receipt of purchase orders and redemption requests by Participants in proper form by the time required by the term of the Plan, but not later than the time of day at which the net asset value of a Fund is calculated, as described from time to time in that Fund’s prospectus. Each Business Day on which the TPA receives Instructions shall be a “Trade Date.” 2. The TPA(s) shall communicate the TPA(s)’s acceptance of such Instructions, to the applicable Plan. 3. On the next succeeding Business Day following the Trade Date on which it accepted Instructions for the purchase and redemption of Shares, (TD+1), the TPA(s) shall notify the Transfer Agent of the net amount of such purchases or redemptions, as the case may be, for each of the Plans. In the case of net purchases by any Plan, the TPA(s) shall instruct the Trustees of such Plan to transmit the aggregate purchase price for Shares by wire transfer to the Transfer Agent on (TD+1). In the case of net redemptions by any Plan, the TPA(s) shall instruct the Fund’s custodian to transmit the aggregate redemption proceeds for Shares by wire transfer to the Trustees of such Plan on (TD+1). The times at which such notification and transmission shall occur on (TD+1) shall be as mutually agreed upon by each Fund, the TPA(s), and the Transfer Agent. 4. The TPA(s) shall maintain separate records for each Plan, which record shall reflect Shares purchased and redeemed, including the date and price for all transactions, and Share balances. The TPA(s) shall maintain on behalf of each of the Plans a single master account with the Transfer Agent and such account shall be in the name of that Plan, the TPA(s), or the nominee of either thereof as the record owner of Shares owned by such Plan.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (MARSHALL FUNDS INC D/B/a BMO FUNDS)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. PAX WORLD MUTUAL FUNDS Schedule 1.2(f) - 2 (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction. (nm) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (on) ~~Create~~ Commencing on or before the date as determined by FinCEN, create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions.. PAX WORLD MUTUAL FUNDS Schedule 1.2(f) - 3 ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A BOSTON FINANCIAL DATA SERVICES, INC. By: By: Name: Xxxxxx X. Xxxxx Name: Title: President & CEO Title: As an Authorized Officer on behalf of each of the Funds indicated on Schedule A PAX WORLD MUTUAL FUNDS Schedule 1.2(f) - 4 A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Funds to be included, along with each Fund’s frequency trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Pax World Funds Series Trust I)

AML Procedures1. 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ “Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (KKR Real Estate Select Trust Inc.)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the database of sanctioned persons administered by the Office of Foreign Assets Control (“OFAC”~~) database~~), the Politically Exposed Persons (“PEP”) ~~database~~database maintained by an external vendor, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from ~~checks,~~ outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to ~~mutual funds~~the Fund; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any ~~FinCEN~~ Financial Crimes Enforcement Network (“FinCEN”) request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to Applicable AML Law, including USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such ~~request~~ requests within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as required, and (iii) ~~Determine~~ determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with ~~applicable law~~ Applicable AML Law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction. (nm) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (~~31 C.F.R. 103.193~~Pub. Law 107-56). (on) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, FinCEN or other regulatory body, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by ~~applicable law~~Applicable Law. 4.3 The parties may agree from time to time to add additional duties to this Schedule 2.1(F)(8) pursuant to a mutually agreed upon written amendment to this Schedule, which reflects such duties and any fees or charges associated with the performance thereof.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Federated Total Return Series Inc)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the ~~Fund~~ Portfolios of the Trust for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On on a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) ~~Submit~~ submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On on a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) ~~Review~~ review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) ~~Review~~ review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) ~~Review~~ review accounts with small balances followed by large purchases; (g) ~~Review~~ review accounts with frequent activity within a specified date range followed by a large redemption; (h) ~~Review~~ review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) ~~Determine~~ in accordance with, 31 C.F.R. 1024.320, determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the ~~Fund~~ Trust with a copy of the SAR within a reasonable time after filing; and notify the ~~Fund~~ Trust if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such ~~filing;~~filing (31 C.F.R. 1024.320) ; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Trust and which may be modified from time to time. (j) ~~Compare~~ compare account information to any FinCEN request received by the ~~Fund~~ Trust and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a)~~. Provide~~ ; provide the ~~Fund~~ Trust with the necessary information for it to respond to such request within required time ~~frame~~frame (31 C.F.R. 1010.520); (k) (i) ~~Take~~ take reasonable steps to verify the identity of any person seeking to become a new customer of the ~~Fund~~ Trust and notify the ~~Fund~~ Trust in the event such person cannot be verified, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as required, and (iii) ~~Determine~~ determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Trust by any government agency; (l) ~~Except~~ except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the ~~Fund~~Trust, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ “Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the ~~Fund~~ Trust in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Trust by any government agency. During the time an entity remains a customer of the Trust, if the entity provides notification of any change to the Beneficial Owner(s), the verification process described above shall be followed with respect to such new owner; (m) ~~Conduct~~ conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b~~1010.610(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605(f)~~. DST will~~ ); perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a risk ranking at a level of medium or ~~above risk-ranking~~above, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the ~~Fund~~Trust’s AML Officer for further instruction.; (n) ~~Upon the~~ upon request by the ~~Fund~~Trust, conduct due diligence to determine if the ~~Fund~~ Trust is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193).~~Act; and (o) Create and retain records required under 31 ~~CFR 103.33~~ C.F.R. 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report ~~or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.~~or

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (PIMCO Managed Accounts Trust)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. Schedule 1.2(e) - 2 SCHEDULE 1.2(e) AML DELEGATION Dated: November 21, 2014 (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (mk) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction. (nl) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (om) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions.. Schedule 1.2(e) - 3 SCHEDULE 1.2(e) AML DELEGATION Dated: November 21, 2014 ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A BOSTON FINANCIAL DATA SERVICES, INC. By: /s/ Xxxx Xxxxx By: /s/ Xxxxxxx X. Xxxxxxx Name: Xxxx Xxxxx Name: Xxxxxxx X. Xxxxxxx Title: Treasurer Title: As an Authorized Officer on behalf of each of the Funds indicated on Schedule A Schedule A-1 SCHEDULE 1.2(h) OMNIBUS TRANSPARENCY SERVICES Dated: November 21, 2014 A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Portfolios to be included, along with each Portfolio’s frequent trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 1 contract

Samples: Transfer Agency and Service Agreement

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (mk) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction. (nl) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (om) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A BOSTON FINANCIAL DATA SERVICES, INC. By: By: Name: Name: Title: Title: As an Authorized Officer on behalf of each of the Funds indicated on Schedule A A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Portfolios to be included, along with each Portfolio’s frequent trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Smead Funds Trust)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On on a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) ~~Submit~~ submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On on a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) ~~Review~~ review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) ~~Review~~ review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) ~~Review~~ review accounts with small balances followed by large purchases; (g) ~~Review~~ review accounts with frequent activity within a specified date range followed by a large redemption; (h) ~~Review~~ review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) ~~Determine~~ in accordance with, 31 C.F.R. 1024.320, determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such ~~filing~~filing (31 C.F.R. 1024.320); (j) ~~Compare~~ compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a); provide the 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. ~~Provide the~~ Fund with the necessary information for it to respond to such request within required time ~~frame~~frame (31 C.F.R. 1010.520); (k) (i) ~~Take~~ take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as required, and (iii) ~~Determine~~ determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) ~~Except~~ except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the ~~Fund~~Funds, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) ~~Conduct~~ conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b~~1010.610(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605(f)~~. DST will~~ ); perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a risk ranking at a level of medium or ~~above risk-ranking~~above, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction.; (n) ~~Upon the~~ upon request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193).~~Act; and (o) Create and retain records required under 31 ~~CFR 103.33~~ C.F.R. 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Bmo Funds, Inc.)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ SS&C and with respect to the ownership of Shares in the Fund for which ~~DST~~ SS&C maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ SS&C shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~SS&C; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ SS&C pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of SS&C, which have been made available to the Fund and which may be modified from time to time. (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ “Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ SS&C will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ SS&C will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ SS&C will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that ~~DST~~ SS&C detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ SS&C of a SAR or other similar report or notice to OFAC, then ~~DST~~ SS&C shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (Brookfield Infrastructure Income Fund Inc.)

AML Procedures1. 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare all new accounts and registration maintenance through the Known Offenders database and notify the Fund of any match. Review accounts to identify those established by Known Offenders attempting fraud and once identified, freeze such accounts; (k) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction.; (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193).; and (o) ~~Create~~ Commencing on or before the date as determined by FinCEN, create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Tiaa-Cref Funds)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the ~~Office of Foreign Assets Control (“OFAC”) database~~OFAC Database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities. In the event that the Transfer Agent identifies a match to the OFAC Database, the Transfer Agent shall notify the AML Compliance Officer immediately and the Transfer Agent shall consult with the AML Compliance Officer with respect to what actions, if any, should be taken. In the event that the Transfer Agent identifies a match to the PEP Database, the Transfer Agent shall notify the AML Compliance Officer as soon as reasonably practicable following the identification of the match and the Transfer Agent shall consult with the AML Compliance Officer with respect to the due diligence necessary for the transaction/account; (b) ~~Submit~~ Periodically, submit all account registrations through the OFAC ~~database~~Database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC ~~database~~Database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds the $100,000 threshold on any given day; (i) ~~Determine~~ Follow the Fund’s no cash and no third-party checks policies as set forth in the current prospectus. (j) Determine, in consultation with the AML Compliance Officer, and subject to Section 4.2 below when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (jk) ~~Compare account information to any~~ To the extent required under applicable law, monitor and track currency transactions and file Currency Transaction Reports (“CTRs”) with FinCEN ~~request received by~~ for each transaction involving $10,000 or more. (l) Implement a Customer Identification Program (“CIP”) on behalf of the Fund ~~and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame;~~ by: (i) ~~Take~~ collecting identifying information from each customer seeking to open an account; (ii) taking reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and ~~notify~~ notifying the Fund in the event such person cannot be verified, ; (iiiii) ~~Maintain~~ maintaining records of the information used to verify the person’s identity, as required, ; and (~~iii~~iv) ~~Determine~~ determining whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (lm) ~~Except~~ If a customer’s identity cannot be verified from the information provided, the Transfer Agent will notify and consult with the AML Compliance Officer or another appropriate Fund officer, regarding whether a SAR will be filed for lack of verification. For a new account, the Transfer Agent will reject the account application. For an existing account, the Transfer Agent will place a stop purchase restriction on the account, and with the consent of the AML Compliance Officer, may close the account. (n) with respect to ~~any entities excluded under applicable regulation: (i~~certain Legal Entity Customers, as defined in 31 C.F.R. 1010 230(e) seeking to open new accounts with the Fund, take reasonable steps to verify ~~the identity of legal entities seeking to become new customers of the Fund, including verifying~~ the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230~~, (ii) notify the Fund in~~ . In the event that the Transfer Agent, after taking reasonable steps, cannot verify the identity of at least one natural person that is a Beneficial Owner of the legal entity seeking to open a new account with the Fund, such ~~Beneficial Owner(s) is not provided upon request to such entity or can~~account will not be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agencyestablished; (mo) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b)~~ 1010.610 for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction. Upon request by the Fund, the Transfer Agent will generate periodic reports of existing correspondent accounts for foreign financial institutions for review by the Fund for purposes of compliance with Section 312 of the USA PATRIOT Act. (np) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act~~ Act. (~~31 C.F.R. 103.193). (o~~q) Create and retain records required under 31 ~~CFR 103.33~~ C.F.R. 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, FinCEN or other applicable regulatory agency, then ~~DST~~ the Transfer Agent shall also immediately notify and consult with the Fund’s AML Compliance Officer or another appropriate Fund officer to determine whether such a filing should be made, unless prohibited by applicable law.

Appears in 1 contract

Samples: Master Transfer Agency and Service Agreement (American Beacon Sound Point Enhanced Income Fund)

AML Procedures1. 4.1 Consistent with the services provided by DST AMS and with respect to the ownership of Shares in ~~the~~ a Fund for which DST AMS maintains the applicable ~~Fund shareholder~~ Shareholder information, DST AMS shall: (a) On a daily basis, submit all new customer account registrations and registration ~~changes~~ maintenance transactions against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review ~~certain types of~~ redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, ~~registration change,~~ or banking information change, registration change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~DST AMS; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) ~~Review~~ On a daily basis, review purchase and redemption activity by check and per tax identification number (“TIN”) within the Funds to determine if activity for that ~~meets or exceeds~~ TIN exceeded the $100,000 threshold on any given day; (i) Review high risk work types that warrant a second look when an item has been reviewed in the past. (In connection with this review, DST AMS shall periodically provide the Trust with a listing of the work types that are viewed as high risk.) 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST AMS, which have been made available to the Trust and which may be modified from time to time and provided to the Trust. (j) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the ~~Fund~~ Trust with a copy of the SAR within a reasonable time after filing; and notify the ~~Fund~~ Trust if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (jk) Compare account information to any FinCEN request received by the ~~Fund~~ Trust and provided to DST AMS pursuant to USA PATRIOT Act Sec. 314(a). Provide the ~~Fund~~ Trust with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of ~~the~~ a Fund and notify the ~~Fund~~ Trust in the event such person cannot be ~~verified~~verified (ie, “know your customer”), (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund Trust by any government agency; (m) ~~Conduct~~ conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b~~1010.610(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605(f)~~. DST will~~ ); perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a risk ranking at a level of medium or ~~above risk-ranking~~above, DST AMS will monitor the account on a ~~monthly~~ daily basis for unusual activity. For any accounts opened for foreign financial institutions, DST AMS will periodically request (currently every three years) that the account owner certify that there have been no changes to their financial institution questionnaire. In the situation where due diligence cannot be completed with respect to an account, DST AMS will contact the Fund’s AML Officer for further instruction.. Upon request by the Trust, generate periodic reports of foreign correspondent accounts for review by a Fund for purposes of compliance with USA PATRIOT Act, Section 312. In accordance with instructions from the Trust, conduct due diligence for existing accounts selected by the Trust for further review in accordance with the procedures set forth above; (n) ~~Upon the~~ upon request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193).~~Act; and (o) Create and retain records required under 31 ~~CFR 103.33~~ C.F.R. 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ (p) Follow the Trust’s third party check policies (which may change from time to time). In accordance with the Trust’s current policy, reject third party checks for new accounts or for subsequent purchases within the Funds. (q) Appoint a specific individual designated by management responsible for the AML function who, among other things, administers the servicing of those duties of the Trust’s AML Program that have been expressly delegated to DST AMS. (r) As required by the USA PATRIOT Act, maintain an independent audit function to test the effectiveness of DST AMS’s compliance with the Trust’s AML Program. (s) Maintain an ongoing anti-money laundering training program for personnel administering the duties delegated to DST AMS under the Trust’s AML Program. (t) With respect to certain legal entities seeking to open new accounts with the Funds, take reasonable steps to verify the identity of the natural person(s) retaining ownership or controlling interest in each legal entity (the “Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230. In the event the Beneficial Owner is not a natural person, DST AMS will follow up with the requesting entity to request one. In the event the proper identity of a natural person cannot be verified, such account will not be established. (u) Maintain records of the foregoing in a manner consistent with applicable law. 4.2 In the event that DST AMS detects activity as a result of the foregoing procedures, which necessitates the filing by DST AMS of a ~~SAR~~ SAR, or other similar report or notice to ~~OFAC~~OFAC or other regulatory agency, then DST AMS shall also immediately notify the ~~Fund,~~ Trust unless prohibited by applicable law.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Dodge & Cox Funds)

AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review ~~accounts with frequent activity within a specified date range followed by a large redemption; (h) Review~~ purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (ih) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (ji) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (lk) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (ml) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (nm) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (on) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (AG Twin Brook Capital Income Fund)

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Smead Funds Trust)

AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ “Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (Kennedy Lewis Capital Co)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ M3Sixty and with respect to the ownership of ~~Shares~~ shares in the ~~Fund~~ Trust for which ~~DST~~ M3Sixty maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ M3Sixty shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~M3Sixty; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the ~~Fund~~ Trust with a copy of the SAR within a reasonable time after filing; and notify the ~~Fund~~ Trust if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the ~~Fund~~ Trust and provided to ~~DST~~ M3Sixty pursuant to USA PATRIOT Act Sec. 314(a). Provide the ~~Fund~~ Trust with the necessary information for it to respond to such request within required time frame;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forthin written procedures of the Transfer Agent, which havebeenmade available to the Fund and which may be modified fromtime to time. (k) (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the ~~Fund~~ Trust and notify the ~~Fund~~ Trust in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Trust by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with ~~31 C.F.R. 103.176(b)~~ applicable regulations for new and existing correspondent accounts for foreign financial institutions (as defined in ~~31 C.F.R. 103.175~~the applicable regulations). ~~DST~~ M3Sixty will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ M3Sixty will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ M3Sixty will contact the ~~Fund~~Trust’s AML Officer for further instruction. (nm) Upon the request by the ~~Fund~~Trust, conduct due diligence to determine if the ~~Fund~~ Trust is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193)~~Act. (on) Create and retain records required under ~~31 CFR 103.33~~ the “Travel Rule” in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ M3Sixty detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ M3Sixty of a SAR or other similar report or notice to OFAC, then ~~DST~~ M3Sixty shall also immediately notify the ~~Fund~~Trust, unless prohibited by applicable law.

Appears in 1 contract

Samples: Investment Company Services Agreement (M3Sixty Funds Trust)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the ~~Fund~~ Portfolios of the Trust for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On on a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) ~~Submit~~ submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On on a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) ~~Review~~ review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) ~~Review~~ review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) ~~Review~~ review accounts with small balances followed by large purchases; (g) ~~Review~~ review accounts with frequent activity within a specified date range followed by a large redemption; (h) ~~Review~~ review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) ~~Determine~~ in accordance with, 31 C.F.R. 1024.320, determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the ~~Fund~~ Trust with a copy of the SAR within a reasonable time after filing; and notify the ~~Fund~~ Trust if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such ~~filing;~~filing (31 C.F.R. 1024.320) ; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Trust and which may be modified from time to time. (j) ~~Compare~~ compare account information to any FinCEN request received by the ~~Fund~~ Trust and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a)~~. Provide~~ ; provide the ~~Fund~~ Trust with the necessary information for it to respond to such request within required time ~~frame~~frame (31 C.F.R. 1010.520); (k) (i) ~~Take~~ take reasonable steps to verify the identity of any person seeking to become a new customer of the ~~Fund~~ Trust and notify the ~~Fund~~ Trust in the event such person cannot be verified, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as required, and (iii) ~~Determine~~ determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Trust by any government agency; (l) ~~Except~~ except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the ~~Fund~~Trust, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ “Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the ~~Fund~~ Trust in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Trust by any government agency. During the time an entity remains a customer of the Trust, if the entity provides notification of any change to the Beneficial Owner(s), the verification process described above shall be followed with respect to such new owner; (m) ~~Conduct~~ conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b~~1010.610(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605(f)~~. DST will~~ ); perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a risk ranking at a level of medium or ~~above risk-ranking~~above, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the ~~Fund~~Trust’s AML Officer for further instruction.; (n) ~~Upon the~~ upon request by the ~~Fund~~Trust, conduct due diligence to determine if the ~~Fund~~ Trust is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT ~~Act (31 C.F.R. 103.193).~~Act; and (o) Create and retain records required under 31 ~~CFR 103.33~~ C.F.R. 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the ~~Fund~~Trust, unless prohibited by applicable law.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (PIMCO Equity Series)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction. (nm) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (on) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A BOSTON FINANCIAL DATA SERVICES, INC. By: By: Name: Name: Title: Title: As an Authorized Officer on behalf of each of the Funds indicated on Schedule A (i) OMNIBUS TRANSPARENCY SERVICES A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Funds to be included, along with each Fund’s frequency trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (1290 Funds)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ SS&C and with respect to the ownership of Shares in the Fund for which ~~DST~~ SS&C maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ SS&C shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) ~~database~~and such other lists of sanctioned persons, entities or places as published by OFAC (collectively, the “Sanctions Lists”), the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by the AML Laws and Regulations and other applicable regulatory authorities; (b) Submit all account registrations through ~~OFAC database~~Sanctions Lists, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities, including AML Laws and Regulations; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~SS&C; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to ~~mutual funds~~Funds; prepare and file the SAR; provide the Fund with a copy of the SAR ~~within a reasonable time~~ promptly after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any ~~FinCEN~~ Financial Crimes Enforcement Network (“FinCEN”) request received by the Fund and provided to ~~DST~~ SS&C pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund consistent with the AML Laws and ~~notify the Fund in the event such person cannot be verified~~Regulations, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as ~~required~~required by AML Laws and Regulations, and (iii) ~~Determine~~ determine whether the person appears on any ~~lists of~~ Sanctions Lists, PEP Database or other known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;. If a customer’s 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of SS&C, which have been made available to the Fund and which may be modified from time to time. identity cannot be verified from the information provided, SS&C will notify and consult with the AML Compliance Officer or another appropriate Fund officer regarding whether a SAR will be filed for verification. For a new account, if a customer’s identity cannot be verified, SS&C will reject the account application. For an existing account, if a customer’s identity cannot be verified, SS&C will place a stop purchase restriction on the account, and with the consent of the AML Compliance Officer, SS&C may close the account. (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as ~~required~~required by applicable AML Laws and Regulations, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ SS&C will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ SS&C will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ SS&C will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. (p) On a quarterly basis, make available to the Fund a report on SS&C’s performance of the AML Delegated Duties, among other compliance items, which report shall include information regarding the number of: (i) potential incidents involving unusual or suspicious activity, (ii) SARs and other reports or notices filed on behalf of the Fund, (iii) outstanding customer verification items, and (iv) potential and confirmed matches against the “Known Offender,” OFAC database and PEP database. Notwithstanding anything herein to the contrary, SS&C reserves the right to amend and update the form of its AML reporting from time to time to comply with new or amended requirements of applicable law or to enhance its compliance program. 4.1 In the event that ~~DST~~ SS&C detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ SS&C of a SAR or other similar report or notice to OFAC, then ~~DST~~ SS&C shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Transfer Agency Services Agreement (American Beacon Funds)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the ~~Office of Foreign Assets Control (“OFAC”)~~ OFAC database, the ~~Politically~~ PoliticaJly Exposed Persons (“"PEP”") database, and such other lists or databases as may be required :from time to time by applicable regulatory authorities, and in the event that the Transfer Agent identifies a match to the OFAC or PEP Database, the Transfer Agent shall notify the AML Compliance Officer immediately and the Transfer Agent shall consult with the AML Compliance Officer with respect to the due diligence necessary for the transaction/account; (b) Submit all account registrations through the OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee ~~information~~ :infonnation from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty~~thlrty-four (34) days of an account establishment, registration change, or banking :information change (e.g. redemption by wire within 34 days of banking ~~information~~ infonnation change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds the $100,000 threshold on any given day; (i) Follow the Fund's no cash and no third-party checks policies as set forth in the current prospectus. (j) Determine when a suspicious activity report (“"SAR”") should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing~~; (j) Compare account information~~ ; 1 The accounts, transactions, items and activity reviewed in each case are subject to ~~any FinCEN request received by~~ certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and ~~provided~~ which may be modified from time to ~~DST pursuant to USA PATRIOT Act Sec. 314(a). Provide~~ time. (k) To the ~~Fund~~ extent required under applicable law, monitor and track currency transactions and file Currency Transaction Reports ("CTRs") with FinCEN for each transaction involving $10,000 or more. (l) Implement the ~~necessary information for it to respond to such request within required time frame;~~ Customer Identification Program ("CIP") by: (i) ~~Take~~ collecting identifying information from each customer seeking to open an account; (ii) taking reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, ; (iiiii) ~~Maintain~~ maintaining records of the ~~information~~ infonnation used to ~~verify~~ vetify the person’s 's identity, as required, ; and (~~iii~~iv) ~~Determine~~ determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (lm) ~~Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the~~ If a customer's identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be ~~verified~~verified from the information provided, ~~(iii) maintain records~~ the Transfer Agent will contact the AML Compliance Officer or another appropriate Fund officer and a SAR will be filed for lack of verification. For a new account, the Transfer Agent will reject the account application. For an existing account, the Transfer Agent will place a stop purchase restriction on the account, and with the consent of the ~~information used to verify such Beneficial Owners~~AML Compliance Officer, ~~as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to~~ close the ~~Fund by any government agency;~~account. (mn) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b)~~ 1010.610 for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In 1n the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s 's AML Officer for further instruction. Upon request by the Fund, the Transfer Agent will generate periodic reports of existing correspondent accounts for foreign financial institutions for review by the Fund for purposes of compliance with Section 312 of the USA PATRIOT Act. (no) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “"special measures” " against such entities as required under Section 311 of the USA PATRIOT ~~Act~~ Act. (~~31 C.F.R. 103.193). (o~~p) Create and retain records required under 31 ~~CFR 103.33~~ C.F.R. 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, FinCEN or other applicable regulatory agency, then ~~DST~~ the Transfer Agent shall also immediately ~~notify~~ contact the Fund's AML Compliance Officer or another appropriate Fund officer prior to the filing of such SAR or other similar report or notice, unless prohibited by applicable law.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (American Beacon Select Funds)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ SS&C and with respect to the ownership of Shares in the Fund for which ~~DST~~ SS&C maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ SS&C shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) ~~database~~and such other lists of sanctioned persons, entities or places as published by OFAC (collectively, the “Sanctions Lists”), the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by the AML Laws and Regulations and other applicable regulatory authorities; (b) Submit all account registrations through ~~OFAC database~~Sanctions Lists, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities, including AML Laws and Regulations; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~SS&C; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to ~~mutual funds~~Funds; prepare and file the SAR; provide the Fund with a copy of the SAR ~~within a reasonable time~~ promptly after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any ~~FinCEN~~ Financial Crimes Enforcement Network (“FinCEN”) request received by the Fund and provided to ~~DST~~ SS&C pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of SS&C, which have been made available to the Fund and which may be modified from time to time. (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund consistent with the AML Laws and ~~notify the Fund in the event such person cannot be verified~~Regulations, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as ~~required~~required by AML Laws and Regulations, and (iii) ~~Determine~~ determine whether the person appears on any ~~lists of~~ Sanctions Lists, PEP Database or other known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;. If a customer’s identity cannot be verified from the information provided, SS&C will notify and consult with the AML Compliance Officer or another appropriate Fund officer regarding whether a SAR will be filed for verification. For a new account, if a customer’s identity cannot be verified, SS&C will reject the account application. For an existing account, if a customer’s identity cannot be verified, SS&C will place a stop purchase restriction on the account, and with the consent of the AML Compliance Officer, SS&C may close the account. (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as ~~required~~required by applicable AML Laws and Regulations, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ SS&C will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ SS&C will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ SS&C will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. (p) On a quarterly basis, make available to the Fund a report on SS&C’s performance of the AML Delegated Duties, among other compliance items, which report shall include information regarding the number of: (i) potential incidents involving unusual or suspicious activity, (ii) SARs and other reports or notices filed on behalf of the Fund, (iii) outstanding customer verification items, and (iv) potential and confirmed matches against the “Known Offender,” OFAC database and PEP database. Notwithstanding anything herein to the contrary, SS&C reserves the right to amend and update the form of its AML reporting from time to time to comply with new or amended requirements of applicable law or to enhance its compliance program. 4.1 In the event that ~~DST~~ SS&C detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ SS&C of a SAR or other similar report or notice to OFAC, then ~~DST~~ SS&C shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Transfer Agency Services Agreement (American Beacon Institutional Funds Trust)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. Schedule 1.2(w) - 2 (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the ~~Fund~~ Funds if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the ~~Fund~~ Funds and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the ~~Fund~~ Funds with the necessary information for it to respond to such request within required time frame; (k) Implement CIP Program procedures on behalf of the Fund, including (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of a Fund in accordance with the provisions of the USA PATRIOT Act Sec. 326 (and the regulations thereunder) applicable to the Fund and notify ~~the~~ such Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the ~~Fund~~ Funds by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. ~~103.176(b)~~ 1010.610 for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. ~~103.175~~1010.605). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact ~~the~~ such Fund’s AML Officer for further instruction. (nm) Upon the request by ~~the~~ a Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. ~~103.193~~1010.610). (on) Create and retain records required under 31 CFR ~~103.33~~ 1010.410 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ (o) Certify to the Fund no less frequently than annually, in a form that is mutually acceptable to the Fund and the Transfer Agent, that Transfer Agent has implemented the AML and CIP procedures on behalf of the Fund. Schedule 1.2(w) - 3 SCHEDULE 1.2(w) AML DELEGATION 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.. STATE STREET INSTITUTIONAL INVESTMENT TRUST ON BEHALF OF ITSELF AND EACH OF ITS PORTFOLIOS, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A By: Name: Title: As an Authorized Officer on behalf of each of the Funds indicated on Schedule A SSGA FUNDS ON BEHALF OF ITSELF AND EACH OF ITS PORTFOLIOS, INDIVIDUALLY AND NOT JOINTLY, AS LISTED ON SCHEDULE A BOSTON FINANCIAL DATA SERVICES, INC. By: By: Name: Name: Title: Title: As an Authorized Officer on behalf of each of the Funds indicated on Schedule A Schedule 1.2(w) - 4 SCHEDULE 1.2(z) OMNIBUS TRANSPARENCY SERVICES A. The Funds shall provide the following information to the Transfer Agent: 1. The name and contact information for the Financial Intermediary, with which the Funds have a “shareholder information agreement” (under which the Financial Intermediary agrees to provide, at a Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the Financial Intermediary (an “accountlet”)), that is to receive an information request; 2. The Funds to be included, along with each Fund’s frequency trading policy, under surveillance for the Financial Intermediary; 3. The frequency of supplemental data requests from the Transfer Agent; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the Financial Intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct the Transfer Agent to perform the following Services:

Appears in 1 contract

Samples: Transfer Agency and Service Agreement

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption;; ¹The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of the Transfer Agent, which have been made available to the Fund and which may be modified from time to time. (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to ~~DST~~ the Transfer Agent pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ The Transfer Agent will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ the Transfer Agent will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ the Transfer Agent will contact the Fund’s AML Officer for further instruction. (nm) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (on) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. ~~4.1~~ 4.2 In the event that ~~DST~~ the Transfer Agent detects activity as a result of the foregoing procedures, which necessitates the filing by ~~DST~~ the Transfer Agent of a SAR or other similar report or notice to OFAC, then ~~DST~~ the Transfer Agent shall also immediately notify the Fund, unless prohibited by applicable law.. EACH OF THE ENTITIES, INDIVIDUALLY BOSTON FINANCIAL DATA SERVICES, AND NOT JOINTLY, AS LISTED ON INC. SCHEDULE A As an Authorized Officer on behalf of each of the Funds indicated on Schedule A

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (CGM Trust)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ the Transfer Agent and with respect to the ownership of Shares in the Fund for which ~~DST~~ the Transfer Agent maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ the Transfer Agent shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all existing account registrations through applicable OFAC ~~database~~databases (including the SDN List), the PEP database, and such other lists ~~or databases~~ as may be required from time to time by applicable regulatory authorities, and complete a review of the results of such submissions within five (5) business days of the results being available in AWD; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within ~~thirty-four~~ thirty (3430) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 30 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~the Transfer Agent; (f) Review accounts with small balances followed by large purchases, the frequency and determination of when to conduct such reviews to be based on industry standard criteria or on such other criteria as may be mutually agreed upon by the Transfer Agent and the Fund in writing; (g) Review accounts with frequent activity within a specified date range followed by a large redemption, the frequency and determination of when to conduct such reviews to be based on industry standard criteria or on such other criteria as may be mutually agreed upon by the Transfer Agent and the Fund in writing; (h) Review purchase and redemption activity by check per tax identification number (“TIN”) within the Fund to determine if activity for that ~~meets~~ TIN met or ~~exceeds~~ exceeded the $100,000 threshold on any given day~~; (i) Determine when a suspicious~~ , including single checks and multiple checks that aggregate to meet or exceed the threshold in writing; 1 The accounts, transactions, items and activity ~~report (“SAR”) should be filed~~ reviewed in each case are subject to certain standard exclusions as ~~required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy~~ set forth in written procedures of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information Transfer Agent, which have been made available to ~~any FinCEN request received by~~ the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot which may be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, modified from time to time~~, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193)~~. (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Tiaa-Cref Funds)

AML Procedures1. 4.1 Consistent with the services provided by ~~DST~~ SS&C and with respect to the ownership of Shares in the Fund for which ~~DST~~ SS&C maintains the applicable ~~Fund shareholder~~ Shareholder information, ~~DST~~ SS&C shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) ~~database~~and such other lists of sanctioned persons, entities or places as published by OFAC (collectively, the “Sanctions Lists”), the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by the AML Laws and Regulations and other applicable regulatory authorities; (b) Submit all account registrations through ~~OFAC database~~Sanctions Lists, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities, including AML Laws and Regulations; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with ~~DST~~SS&C; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to ~~mutual funds~~Funds; prepare and file the SAR; provide the Fund with a copy of the SAR ~~within a reasonable time~~ promptly after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any ~~FinCEN~~ Financial Crimes Enforcement Network (“FinCEN”) request received by the Fund and provided to ~~DST~~ SS&C pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of SS&C, which have been made available to the Fund and which may be modified from time to time. (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund consistent with the AML Laws and ~~notify the Fund in the event such person cannot be verified~~Regulations, (ii) ~~Maintain~~ maintain records of the information used to verify the person’s identity, as ~~required~~required by AML Laws and Regulations, and (iii) ~~Determine~~ determine whether the person appears on any ~~lists of~~ Sanctions Lists, PEP Database or other known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;. If a customer’s identity cannot be verified from the information provided, SS&C will notify and consult with the AML Compliance Officer or another appropriate Fund officer regarding whether a SAR will be filed for verification. For a new account, if a customer’s identity cannot be verified, SS&C will reject the account application. For an existing account, if a customer’s identity cannot be verified, SS&C will place a stop purchase restriction on the account, and with the consent of the AML Compliance Officer, SS&C may close the account. (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as ~~required~~required by applicable AML Laws and Regulations, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). ~~DST~~ SS&C will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, ~~DST~~ SS&C will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, ~~DST~~ SS&C will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Transfer Agency Services Agreement (American Beacon Select Funds)

AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). . (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (Apollo Debt Solutions BDC)

AML Procedures1. 4.1 Consistent with the services provided by SS&C DST and with respect to the ownership of Shares in the Fund for which SS&C DST maintains the applicable ~~Fund shareholder~~ Shareholder information, SS&C DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of SS&C DST, which have been made available to the Fund and which may be modified from time to time. (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with SS&C DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to SS&C DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ “Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). SS&C DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, SS&C DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, SS&C DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that SS&C DST detects activity as a result of the foregoing procedures, which necessitates the filing by SS&C DST of a SAR or other similar report or notice to OFAC, then SS&C DST shall also immediately notify the Fund, unless prohibited by applicable law.

Appears in 1 contract

Samples: Services Agreement (Alpha Alternative Assets Fund)

AML Procedures1. 4.1 Consistent with the services provided by DST and with respect to the ownership of Shares in the Fund for which DST maintains the applicable ~~Fund shareholder~~ Shareholder information, DST shall: (a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities; (c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database; (d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change); (e) Review wires sent pursuant to banking instructions other than those on file with DST; (f) Review accounts with small balances followed by large purchases; (g) Review accounts with frequent activity within a specified date range followed by a large redemption; (h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day; (i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to mutual funds; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing; (j) Compare account information to any FinCEN request received by the Fund and provided to DST pursuant to USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such request within required time frame; (i) Take reasonable steps to verify the identity of any person seeking to become a new customer of the Fund and notify the Fund in the event such person cannot be verified, (ii) Maintain records of the information used to verify the person’s identity, as required, and (iii) Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency;; 1 The accounts, transactions, items and activity reviewed in each case are subject to certain standard exclusions as set forth in written procedures of DST, which have been made available to the Fund and which may be modified from time to time. (l) Except with respect to any entities excluded under applicable regulation: (i) take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “ Beneficial Owner(s)”), as such ownership and controlling interests are defined in 31 C.F.R. 1010.230, (ii) notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used to verify such Beneficial Owners, as required, and (iv) determine whether such persons appear on any lists of known or suspected terrorists or terrorist organizations provided to the Fund by any government agency; (m) Conduct due diligence and if required, enhanced due diligence in accordance with 31 C.F.R. 103.176(b) for new and existing correspondent accounts for foreign financial institutions (as defined in 31 C.F.R. 103.175). DST will perform an assessment of the money laundering risk presented by the account based on a consideration of relevant factors in accordance with applicable law and information provided by the foreign financial institution in a financial institution questionnaire. If an account is determined to have a medium or above risk-ranking, DST will monitor the account on a monthly basis for unusual activity. In the situation where due diligence cannot be completed with respect to an account, DST will contact the Fund’s AML Officer for further instruction. (n) Upon the request by the Fund, conduct due diligence to determine if the Fund is involved with any foreign jurisdiction, institution, class of transactions and a type of account designated, from time to time, by the U.S. Department of Justice in order to identify and take certain “special measures” against such entities as required under Section 311 of the USA PATRIOT Act (31 C.F.R. 103.193). (o) Create and retain records required under 31 CFR 103.33 in connection with the transmittals of funds in amounts equal to or in excess of $3,000, and transmit such information on the transactions to the receiving financial institutions. 4.1 In the event that DST detects activity as a result of the foregoing procedures, which necessitates the filing by DST of a SAR or other similar report or notice to OFAC, then DST shall also immediately notify the Fund, unless prohibited by applicable law. A. The Funds shall provide the following information to DST: 1. The name and contact information for the financial intermediary, with which the Funds have a “shareholder information agreement” (under which the financial intermediary agrees to provide, at the Fund’s request, identity and transaction information about shareholders who hold their shares through an account with the financial intermediary (an “accountlet”)), that is to receive an information request; 2. The Funds to be included, along with each Fund’s frequency trading policy, under surveillance for the financial intermediary; 3. The frequency of supplemental data requests from DST; 4. The duration of supplemental data requests (e.g. 60 days, 90 days); and 5. The expected turnaround time for a response from the financial intermediary to an information request (including requests for supplemental data) B. Upon receipt of the foregoing information, the Funds hereby authorize and instruct DST to perform the following services:

Appears in 1 contract

Samples: Services Agreement (Frost Family of Funds)

Common use of AML Procedures1 Clause in Contracts