Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunder; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (e) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."
Appears in 10 contracts
Samples: Aquila Three Peaks High Income Fund, Tax Free Fund of Colorado, Cascades Trust
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering ("AML") laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."
Appears in 9 contracts
Samples: Transfer Agency Services Agreement (Afba 5star Fund Inc), Services Agreement (Forward Funds Inc), New Alternatives Fund Inc
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC the Distributor to establish, maintain and monitor accounts of investors in the Fund Trust consistent with securities laws, PFPC the Distributor shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: described hereinafter. In this regard, PFPC the Distributor shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPCthe Distributor's AML program or by an outside party, for compliance with PFPCthe Distributor's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPCthe Distributor's AML program; and (ed) provide ongoing training of PFPC the Distributor's personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC the Distributor shall provide to the FundTrust's officer in charge of AML compliance (the "AML Compliance Officer: "): (x) a copy of PFPCthe Distributor's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In additionUnless otherwise preformed by the Trust's transfer agent, PFPC the Distributor shall also: (i) collect and maintain investor information, verify the identity of investors and check investor identities against all government lists of known or suspected terrorists and terrorist organizations in compliance with the procedures set forth in the Trust's AML program and the PATRIOT Act; (ii) provide notice of the Fund Trust's customer identification procedures to prospective investors in the manner permitted by the PATRIOT Act before an account is opened; (iii) maintain records of the information collected and methods used to verify investor identity in compliance with information necessary the PATRIOT Act; (iv) monitor investor accounts for suspicious activity to the Fund to prepare extent required by AML laws or the PATRIOT Act; and file (v) make any required regulatory filings on behalf of the Trust including, but not limited to, Form 8300 and any other suspicious activity reports, reports (to the extent required under by AML laws) and promptly provide a copy of all such reports filed to the Trust's AML Compliance Officer. To the extent that a Trust regulator wishes to examine the Distributor regarding its services hereunder, in connection the Distributor shall cooperate with suspicious activity PFPC detectsand permit examinations of its records and personnel by such regulator, coordinating any such response with the Trust's AML Compliance Officer. PFPC The Distributor also agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such any information and records relating to its the Trust's AML program as such examiners shall reasonably request."
Appears in 8 contracts
Samples: Distribution Agreement (Capital Cash Management Trust), Distribution Agreement (Cash Assets Trust), Distribution Agreement (Hawaiian Tax Free Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the GE Fund Products consistent with securities lawslaws and other statutes, PFPC shall perform all reasonable actions necessary to help the GE Fund Products be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the GE Fund Products from being used to launder money or finance terrorist activities and to achieve compliance with (the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunder“PFPC AML Program”); (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's the PFPC AML program Program, or by an outside party, for compliance with of PFPC's ’s established policies and proceduresprocedures as described in subsection (a) above; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's the PFPC AML programProgram; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activitiesPFPC AML Program . Upon the reasonable request of the FundGE Fund Products, PFPC shall provide to the Fund's AML Compliance OfficerGE Fund Products: (x) a copy of PFPC's the PFPC AML Program written AML policies and procedures (it being understood such information is to be considered confidential and treated as such such, and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the PFPC AML Program training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its the PFPC AML program Program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its the PFPC AML program Program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 6 contracts
Samples: Agency Service Agreement, Transfer Agency Services Agreement (Ge Investment Funds Inc), Transfer Agency Services Agreement (Ge Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC the Distributor to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC the Distributor shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: described hereinafter. In this regard, PFPC the Distributor shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPCthe Distributor's AML program or by an outside party, for compliance with PFPCthe Distributor's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPCthe Distributor's AML program; and (ed) provide ongoing training of PFPC the Distributor's personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC the Distributor shall provide to the Fund's officer in charge of AML compliance (the "AML Compliance Officer: "): (x) a copy of PFPCthe Distributor's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In additionUnless otherwise preformed by the Fund's transfer agent, PFPC the Distributor shall also: (i) collect and maintain investor information, verify the identity of investors and check investor identities against all government lists of known or suspected terrorists and terrorist organizations in compliance with the procedures set forth in the Fund's AML program and the PATRIOT Act; (ii) provide notice of the Fund's customer identification procedures to prospective investors in the manner permitted by the PATRIOT Act before an account is opened; (iii) maintain records of the information collected and methods used to verify investor identity in compliance with the PATRIOT Act; (iv) monitor investor accounts for suspicious activity to the extent required by AML laws or the PATRIOT Act; and (v) make any required regulatory filings on behalf of the Fund with information necessary for the Fund to prepare and file including, but not limited to, Form 8300 and any other suspicious activity reports, reports (to the extent required under by AML laws) and promptly provide a copy of all such reports filed to the Fund's AML Compliance Officer. To the extent that a Fund regulator wishes to examine the Distributor regarding its services hereunder, in connection the Distributor shall cooperate with suspicious activity PFPC detectsand permit examinations of its records and personnel by such regulator, coordinating any such response with the Fund's AML Compliance Officer. PFPC The Distributor also agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such any information and records relating to its the Fund's AML program as such examiners shall reasonably request."
Appears in 5 contracts
Samples: Distribution Agreement (Aquila Narragansett Insured Tax Free Income Fund), Distribution Agreement (Aquila Three Peaks High Income Fund), Distribution Agreement (Tax Free Fund of Colorado)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC the Distributor to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC the Distributor shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: described hereinafter. In this regard, PFPC the Distributor shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's the Distributor’s AML program or by an outside party, for compliance with PFPC's the Distributor’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's the Distributor’s AML program; and (ed) provide ongoing training of PFPC the Distributor’s personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC the Distributor shall provide to the Fund's ’s officer in charge of AML compliance (the “AML Compliance Officer: ”): (x) a copy of PFPC's the Distributor’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In additionUnless otherwise preformed by the Fund’s transfer agent, PFPC the Distributor shall also: (i) collect and maintain investor information, verify the identity of investors and check investor identities against all government lists of known or suspected terrorists and terrorist organizations in compliance with the procedures set forth in the Fund’s AML program and the PATRIOT Act; (ii) provide notice of the Fund’s customer identification procedures to prospective investors in the manner permitted by the PATRIOT Act before an account is opened; (iii) maintain records of the information collected and methods used to verify investor identity in compliance with the PATRIOT Act; (iv) monitor investor accounts for suspicious activity to the extent required by AML laws or the PATRIOT Act; and (v) make any required regulatory filings on behalf of the Fund with information necessary for the Fund to prepare and file including, but not limited to, Form 8300 and any other suspicious activity reports, reports (to the extent required under by AML laws) and promptly provide a copy of all such reports filed to the Fund’s AML Compliance Officer. To the extent that a Fund regulator wishes to examine the Distributor regarding its services hereunder, in connection the Distributor shall cooperate with suspicious activity PFPC detectsand permit examinations of its records and personnel by such regulator, coordinating any such response with the Fund’s AML Compliance Officer. PFPC The Distributor also agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such any information and records relating to its the Fund’s AML program as such examiners shall reasonably request."
Appears in 4 contracts
Samples: Distribution Agreement (Aquila Municipal Trust), Distribution Agreement (Aquila Municipal Trust), Distribution Agreement (Aquila Municipal Trust)
Anti-Money Laundering. As of the Effective Date(a) Company represents and warrants that it has implemented, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various and agrees to maintain an anti-money laundering program, including a customer due diligence program, reasonably designed to comply with all applicable anti-money laundering laws, including but not limited to the Bank Secrecy Act of 1970 ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC“BSA”), as permitted amended by the USA PATRIOT Act (the "PATRIOT Act") of 2001, and the Money Laundering Control Act of 1986, each as amended from time to time, and any rules adopted thereunder by the Financial Crimes Enforcement Network, and/or any applicable anti-money laundering laws and regulations promulgated hereunder. Consequentlyof other jurisdictions where Company conducts business, and any rules adopted thereunder or guidelines issued, administered or enforced by any governmental agency (collectively, the Fund “Anti-Money Laundering Laws”). Company further represents and PFPC desire warrants that its anti-money laundering program includes written policies, a designated anti-money laundering compliance officer, ongoing training for employees, an independent audit to amend test the Agreement implementation of the program, a customer identification program, and risk-based procedures for conducting ongoing customer due diligence, to reflect such services explicitly as followsinclude, but not be limited to: To (i) understanding the extent nature and purpose of customer relationships for the other provisions purpose of this Agreement require PFPC developing a customer risk profile; and (ii) conducting ongoing monitoring to establishidentify and report suspicious transactions and, on a risk basis, to maintain and monitor accounts update customer information. Company further represents and warrants that: (i) its anti-money laundering program shall be applied to its customers that purchase Shares of investors in the Fund a Fund, consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement its written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunder; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dii) designate a person it will cooperate with PIMCO and deliver information reasonably requested by PIMCO concerning shareholders that purchased Shares of the Fund sold by Company necessary for PIMCO or persons responsible for the Fund to comply with the BSA; (iii) it will notify PIMCO, in writing, if it is found, by its compliance officer, an independent anti-money laundering auditor, or any Federal, state, or self-regulatory agencies, to be in violation of the BSA, any regulation implementing and monitoring the operation and internal controls of PFPC's AML BSA, or its anti-money laundering program; and (eiv) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request Company will promptly notify PIMCO or a Fund if Company concludes that any shareholder has engaged in illegal or other conduct that warrants remedial account actions, such as freezing or closure of the Fundshareholder’s account with Company, PFPC shall and Company will thereafter cooperate in good faith to provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is as PIMCO requires to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to satisfy its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably requestown anti-money laundering obligations."
Appears in 4 contracts
Samples: Pimco Services Agreement (PIMCO Equity Series VIT), Pimco Services Agreement (Pimco Variable Insurance Trust), Pimco Services Agreement (Pimco Variable Insurance Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "“Anti-Money Laundering. PFPC [BNY Mellon] has implemented various anti-money laundering ("“AML"”) procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC[BNY Mellon], as permitted by the USA PATRIOT Act (the "“PATRIOT Act"”) and the regulations promulgated hereunder. Consequently, the Fund and PFPC [BNY Mellon] desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC [BNY Mellon] to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC [BNY Mellon] shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC [BNY Mellon] shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunder; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's [BNY Mellon]’s AML program or by an outside party, for compliance with PFPC's [BNY Mellon]’s established policies and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's [BNY Mellon]’s AML program; and (e) provide ongoing training of PFPC [BNY Mellon] personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC [BNY Mellon] shall provide to the Fund's ’s AML Compliance Officer: (x) a copy of PFPC's [BNY Mellon]’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's [BNY Mellon]’s option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC [BNY Mellon] shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC [BNY Mellon] detects. PFPC [BNY Mellon] agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."”
Appears in 4 contracts
Samples: Aquila Municipal Trust, Aquila Municipal Trust, Aquila Municipal Trust
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 3 contracts
Samples: Transfer Agency Services Agreement (Roxbury Funds), Transfer Agency Services Agreement (CRM Mutual Fund Trust), Agency Services Agreement (Roxbury Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the The following new provision: "Antianti-Money Launderingmoney laundering services do not apply with respect to NSCC networked accounts. PFPC has implemented various shall perform reasonable actions necessary for the Fund to be in compliance with United States federal anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the USA PATRIOT Act as follows: of 2001. In this regard, PFPC shall: (aA) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (cB) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dC) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (eD) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (xX) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (yY) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (zZ) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its PFPC's AML program by U.S. Federal United States federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its PFPC's AML program as such examiners shall reasonably request."
Appears in 3 contracts
Samples: Transfer Agency Agreement (Merrill Lynch Bond Fund Inc), Transfer Agency Agreement (BlackRock Variable Series Funds, Inc.), Transfer Agency Agreement (Merrill Lynch Multi State Municipal Series Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish Each Trust acknowledges that it has had an opportunity to review, consider and implement comment upon the written internal policies, procedures and internal controls provided by PFPC describing various tools designed to promote the detection and reporting of potential money laundering activity by monitoring shareholder activity, including the written procedures described in Section 17 below for verifying a customer’s identity (collectively, the “AML program”). Each Trust has determined that the AML program, as part of the Trust’s overall anti-money laundering program, is reasonably designed to prevent the Fund Funds from being used to launder for money laundering or finance the financing of terrorist activities and to achieve compliance with the applicable provisions provision of the Bank Secrecy Act and the implementing regulations thereunder; . Based on this determination, each Trust hereby instructs and directs PFPC to implement the AML program on the Trust’s behalf, as such may be amended from time to time. PFPC shall perform reasonable actions necessary to help the Funds be in compliance with Section 352 of the USA PATRIOT Act. In this regard, PFPC shall (b) undertake to revise such AML procedures as necessary or appropriate; (ci) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's established policies and procedures’s AML Program; (dii) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (eiii) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) Trusts a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."
Appears in 3 contracts
Samples: Transfer Agency Services Agreement (Managers Trust Ii), Transfer Agency Services Agreement (Managers Funds), Transfer Agency Services Agreement (Managers Amg Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "AntiANTI-Money LaunderingMONEY LAUNDERING. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering ("AML") laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."
Appears in 3 contracts
Samples: Services Agreement (Pictet Funds), Kalmar Pooled Investment Trust, Gamna Series Funds Inc
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as shall provide the services described belowin Section 15 of the Agreement consistent with the Securities Laws, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by in compliance with Section 352 of the USA PATRIOT Act Act, as follows (specifically, PFPC undertakes to perform the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors described in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act attached ANTI-MONEY LAUNDERING SERVICES PROGRAM SUMMARY as follows: stated therein): In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall promptly provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (a copy of which is attached hereto) (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's option), ) or a certification that the findings of the independent party are satisfactorysatisfactory (PFPC will also provide a copy of such a summary or certification upon the reasonable request of the Fund); and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Upon the publication of additional final anti-money laundering regulations, PFPC will work with the Fund to offer, on reasonable terms, for the Fund's benefit services to help the Fund satisfy its obligations under such regulations."
Appears in 3 contracts
Samples: Abn Amro Funds, Abn Amro Funds, Abn Amro Funds
Anti-Money Laundering. As The Authorized Participant represents, covenants and warrants that neither it nor any of its officers, directors, employees, affiliates or Agents have been, and that it has obtained appropriate representations that the Effective DateAuthorized Participant Client and its officers, directors, employees and affiliates have not been, (i) indicted with respect to, or convicted of, any criminal charges, including money laundering, or (ii) is the Agreement subject of any criminal action of any nature or of any action by a regulatory agency or self-regulatory organization relating to money laundering. The Authorized Participant confirms that it is amended by adding subject to the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, requirements of the Currency and Foreign Transactions Act of 1970 of the Fund desires to delegate certain AML procedures to PFPCUnited States, as permitted amended by the USA PATRIOT Act and Anti-Money Laundering Act of 2020 (the "PATRIOT “Bank Secrecy Act") ”), and the regulations promulgated hereunder. Consequentlyits implementing regulations, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establishit represents, covenants and warrants that it has adopted, implemented and shall maintain and monitor accounts of investors in comply with; and if its affiliates, its Agents, or any Authorized Participant Client are subject to the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder anti-money or finance terrorist activities and to achieve compliance with the applicable provisions laundering requirements of the Bank Secrecy Act and its implementing regulations, or the anti-money laundering, terrorist financing, Virtual Asset Service Provider (“VASPˮ) or similar laws, regulations, and guidance of other jurisdictions, the Authorized Participant shall ensure that such Agents or affiliates have, or perform appropriate diligence and obtain appropriate representations reasonably designed to ensure that the Authorized Participant Client has, adopted, implemented, and shall maintain and comply with; the anti-money laundering program and other requirements to comply with the Bank Secrecy Act and implementing regulations thereunder; regulations, or the anti-money laundering, terrorist financing, VASP or similar laws, regulations, and guidance of other jurisdictions, as are applicable, including but not limited to, (bi) undertake maintaining and complying with written policies, procedures and controls designed to revise such AML procedures as necessary detect, prevent and report money laundering, terrorist financing, or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance other suspicious activity and prohibit dealings with PFPC's established policies and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; shell banks and (eii) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fundmaintaining a customer identification program, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML relevant requirements imposed by such laws, in connection regulations, and guidance. If the Authorized Participant’s affiliate, its Agent, or any Authorized Participant Client, is not subject to the anti-money laundering requirements of the Bank Secrecy Act, the Authorized Participant confirms that its affiliate or Agent will, or the Authorized Participant Client has represented, covenanted and warranted to the Authorized Participant that such Authorized Participant Client will, comply with suspicious activity PFPC detects. PFPC agrees to permit inspections all applicable laws, rules, regulations, guidance, and requirements of all applicable jurisdictions relating to its anti-money laundering, terrorist financing, VASPs, and similar activity, including but not limited to the Money Laundering Control Act of 1986, and from all relevant jurisdictions (collectively, together with the Bank Secrecy Act, “AML program by U.S. Federal departments Laws”). The Authorized Participant confirms that any Agent or regulatory agencies with appropriate jurisdiction Authorized Participant Client has been successfully onboarded and to make available to examiners from such departments or regulatory agencies such information processed through the Authorized Participant’s own Bank Secrecy Act compliance program, including the Authorized Participant’s customer due diligence, KYC and records relating to its AML program as such examiners shall reasonably requestcustomer identification procedures."
Appears in 3 contracts
Samples: Authorized Participant Agreement (iShares Ethereum Trust), Authorized Participant Agreement (iShares Bitcoin Trust), Authorized Participant Agreement (iShares Bitcoin Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement The Trust acknowledges that it is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various a financial institution subject to all applicable anti-money laundering ("AML") procedures as described belowlaws, which it has found to be reasonableregulations, rules and government guidance and the Fund desires to delegate certain AML procedures to PFPCBank Secrecy Act (“BSA”), as permitted amended by the USA PATRIOT Act of 2001, together with its implementing regulations, and related governmental and self-regulatory organization rules and regulations (collectively, the "PATRIOT Act"“Anti-Money Laundering Laws”). The Trust shall comply with the Anti-Money Laundering Laws in all relevant respects, subject to the delegation of certain responsibilities to TFS, as provided in the paragraphs below. With respect to the services provided to the Trust under the Agreement, TFS agrees to perform certain duties in connection with the Anti-Money Laundering Program. TFS shall (i) screen new business and existing client databases against government sanction lists, declining transactions and blocking assets and reporting any blocked assets in accordance with the Foreign Asset Control Regulations, (ii) maintain all records or other documentation related to Shareholder accounts and transactions therein that are required to be prepared and maintained pursuant to the Anti-Money Laundering Program, and (iii) identify and report suspicious activities that are required to be so identified and reported pursuant to the Anti-Money Laundering Program. It is contemplated that the Anti-Money Laundering Program will be amended from time to time, as additional regulations are adopted and/or regulatory guidance is provided relating to the Trust’s anti-money laundering responsibilities. The Trust agrees that no amendments will be made to the Anti-Money Laundering Program, which might have the effect of changing the procedures employed by TFS in providing the services agreed to hereunder, unless the Trust first obtains TFS’s approval of such amendments or changes, which approval shall not be withheld unreasonably. In furtherance of the foregoing, the Trust hereby delegates to TFS the performance, on behalf of the Trust, of the Anti-Money Laundering Program set forth above as concerns the Shareholder accounts maintained by TFS pursuant to this Agreement. TFS agrees to the foregoing delegation and agrees to perform such services in accordance with the Anti-Money Laundering Program. In connection therewith, TFS agrees to maintain policies and procedures, and related internal controls, that are consistent with the Anti-Money Laundering Program and the regulations promulgated hereunder. Consequently, requirement that the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, Trust employ procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of Anti-Money Laundering Laws, including the Bank Secrecy Act and the implementing regulations thereunder; (b) undertake requirements to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (e) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML have policies and procedures (it being understood such information is that can be reasonably expected to be considered confidential detect and treated as such and afforded all protections provided to confidential information cause the reporting of transactions under Section 5318 of the BSA. TFS’s obligations under this Agreement): (y) a copy of a written assessment or report prepared by delegation shall be subject to the party performing requirement above that any material amendments to the independent testing Anti-Money Laundering Program be submitted to TFS for compliance (or a summary thereofits review and consent. In connection with the foregoing delegation, at PFPC's option), or a certification the Trust also acknowledges that the findings performance of the independent party are satisfactory; anti-money laundering services enumerated herein involves the exercise of discretion which in some circumstances may result in consequences to the Trust and its Shareholders (such as in the case of the reporting of suspicious activities and the freezing of Shareholder accounts). In this regard, (i) TFS is granted the discretion to take any such action as may be authorized under the Anti-Money Laundering Program, and consultation with the Trust shall not be required in connection therewith unless specifically required under the Anti-Money Laundering Program, and (zii) the Trust instructs TFS that it may avail the Trust of any safe harbor from civil liability that may be available under applicable Anti-Money Laundering Laws for making a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments disclosure or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably requestfiling a report thereunder."
Appears in 3 contracts
Samples: Transfer Agency Agreement (Transamerica Funds), Transfer Agency Agreement (Transamerica Funds), Transfer Agency Agreement (Transamerica Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering ("AML") laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activitiesacivities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: Fund (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PPFC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."
Appears in 2 contracts
Samples: Transfer Agency and Services Agreement (Domini Social Investment Trust), Transfer Agency and Services Agreement (Domini Institutional Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this the Agreement require PFPC Transfer Agent to establish, maintain and monitor accounts of investors in the Fund, the Fund consistent with securities laws, PFPC hereby delegates to Transfer Agent the responsibility for the implementation and operation of the Fund AML Policy and Transfer Agent accepts such delegation and shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: described hereinafter. In this regard, PFPC Transfer Agent shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's Transfer Agent’s AML program or by an outside party, for compliance with PFPC's Transfer Agent’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's Transfer Agent’s AML program; and (ed) provide ongoing training of PFPC Transfer Agent personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC Transfer Agent shall provide to the Fund's ’s AML Compliance Officer: Officer (the “Fund CO”): (x) a copy of PFPC's Transfer Agent’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) a copy of report or make a written assessment or report prepared by presentation to the party performing Fund CO periodically summarizing the independent testing for Transfer Agent’s compliance (or a summary thereofwith the Fund AML Policy as well as its own AML program, at PFPC's option), or a certification that any reports filed during the findings of year and any compliance problems encountered during the independent party are satisfactoryyear; and (z) a summary of the AML training provided for appropriate personnel. In additionTransfer Agent shall also: (i) collect and maintain investor information, PFPC shall provide verify the identity of investors and check investor identities against all government lists of known or suspected terrorists and terrorist organizations in compliance with the procedures set forth in the Fund AML Policy and the PATRIOT Act; (ii) provide notice of the Fund’s customer identification procedures to prospective investors in the manner permitted by the PATRIOT Act before an account is opened; (iii) maintain records of the information collected and methods used to verify investor identity in compliance with information necessary the PATRIOT Act; (iv) monitor investor accounts for suspicious activity to the extent required by AML laws or the PATRIOT Act; and (v) make any required regulatory filings on behalf of the Fund to prepare including, but not limited to, Form 8300s and file Form 8300 and any other suspicious activity reports, reports (to the extent required under by AML laws) and promptly provide a copy of all such reports filed to the Fund CO. To the extent that a Fund regulator wishes to examine Transfer Agent regarding its services hereunder, in connection Transfer Agent shall cooperate with suspicious activity PFPC detectsand permit examinations of its records and personnel by such regulator, coordinating any such response with the Fund CO. PFPC Transfer Agent also agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such any information and records relating to its the Fund AML program as such examiners shall reasonably requestPolicy. The Transfer Agent also agrees to promptly notify the Fund if circumstances change which would prevent it from performing the functions described in this Amendment."
Appears in 2 contracts
Samples: Vantagepoint Funds, Vantagepoint Funds
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help for the Fund to be in compliance with United States Federal AML federal anti-money laundering (“AML”) laws applicable to investor activity, including the Bank Secrecy Act and the USA PATRIOT Act as follows: of 2001. In this regard, PFPC shall: (aA) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (cB) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established AML policies and procedures; (dC) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (eD) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (xX) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (yY) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (zZ) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its PFPC’s AML program by U.S. Federal United States federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its PFPC’s AML program as such examiners shall reasonably request."
Appears in 2 contracts
Samples: Transfer Agency Agreement (Blackrock Funds), Transfer Agency Agreement (Blackrock Bond Allocation Target Shares)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities lawsSecurities Laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. PFPC expressly agrees to notify the Fund in the event that PFPC's AML program is determined to be materially deficient by a law enforcement or regulatory agency; provided that such notification is permitted by applicable law and the applicable law enforcement or regulatory agency."
Appears in 2 contracts
Samples: Transfer Agency Services Agreement (MGI Funds), Transfer Agency Services Agreement (MGI Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is Agreements are amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering ("AML") laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to detect and help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."
Appears in 2 contracts
Samples: Stratton Funds Inc, Stratton Growth Fund Inc
Anti-Money Laundering. As of In addition, to the Effective Dateservices listed in Section 14, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 2 contracts
Samples: Services Agreement (BB&T Variable Insurance Funds), Transfer Agency and Blue Sky Services Agreement (Bb&t Funds /)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this the Agreement require PFPC Distributor to establish, maintain and monitor accounts of investors in the Fund, the Fund consistent with securities laws, PFPC hereby delegates to Distributor the responsibility for the implementation and operation of the Fund AML Policy and Distributor accepts such delegation and shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: described hereinafter. In this regard, PFPC Distributor shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's Distributor’s AML program or by an outside party, for compliance with PFPC's Distributor’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's Distributor’s AML program; and (ed) provide ongoing training of PFPC Distributor personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC Distributor shall provide to the Fund's ’s AML Compliance Officer: Officer (the “Fund CO”): (x) a copy of PFPC's Distributor’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) a copy of report or make a written assessment or report prepared by presentation to the party performing Fund CO periodically summarizing the independent testing for Distributor’s compliance (or a summary thereofwith the Fund AML Policy as well as its own AML program, at PFPC's option), or a certification that any reports filed during the findings of year and any compliance problems encountered during the independent party are satisfactoryyear; and (z) a summary of the AML training provided for appropriate personnel. In additionUnless otherwise performed by the Fund’s transfer agent, PFPC Distributor shall provide also: (i) collect and maintain investor information, verify the identity of investors and check investor identities against all government lists of known or suspected terrorists and terrorist organizations in compliance with the procedures set forth in the Fund AML Policy and the PATRIOT Act; (ii) provide notice of the Fund’s customer identification procedures to prospective investors in the manner permitted by the PATRIOT Act before an account is opened; (iii) maintain records of the information collected and methods used to verify investor identity in compliance with information necessary the PATRIOT Act; (iv) monitor investor accounts for suspicious activity to the extent required by AML laws or the PATRIOT Act; and (v) make any required regulatory filings on behalf of the Fund to prepare including, but not limited to, Form 8300s and file Form 8300 and any other suspicious activity reports, reports (to the extent required under by AML laws) and promptly provide a copy of all such reports filed to the Fund CO. To the extent that a Fund regulator wishes to examine Distributor regarding its services hereunder, in connection Distributor shall cooperate with suspicious activity PFPC detectsand permit examinations of its records and personnel by such regulator, coordinating any such response with the Fund CO. PFPC Distributor also agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such any information and records relating to its the Fund AML program as such examiners shall reasonably requestPolicy. The Distributor also agrees to promptly notify the Fund if circumstances change which would prevent it from performing the functions described in this Amendment."
Appears in 2 contracts
Samples: Vantagepoint Funds, Vantagepoint Funds
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the a Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Funds from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the a Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 2 contracts
Samples: Transfer Agency Services Agreement (Allegiant Advantage Fund), Transfer Agency Services Agreement (Allegiant Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the a Fund consistent with securities lawsSecurities Laws, PFPC shall perform all reasonable actions necessary to help the each Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the a Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML Anti-Money Laundering ("AML") program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the a Fund, PFPC shall provide to the such Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 2 contracts
Samples: Transfer Agency Services Agreement (Eip Investment Trust), Transfer Agency Services Agreement (Eip Investment Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement The Trust acknowledges that it is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various a financial institution subject to all applicable anti-money laundering ("AML") procedures as described belowlaws, which it has found to be reasonableregulations, rules and government guidance and the Fund desires to delegate certain AML procedures to PFPCBank Secrecy Act (“BSA”), as permitted amended by the USA PATRIOT Act of 2001, together with its implementing regulations, and related governmental and self-regulatory organization rules and regulations (collectively, the "PATRIOT Act"“Anti-Money Laundering Laws”). The Trust shall comply with the Anti-Money Laundering Laws in all relevant respects, subject to the delegation of certain responsibilities to TFS, as provided in the paragraphs below. With respect to the services provided to the Trust under the Agreement, TFS agrees to perform certain duties in connection with the Anti-Money Laundering Program. TFS shall (i) screen new business and existing client databases against government sanction lists, declining transactions and blocking assets and reporting any blocked assets in accordance with the Foreign Asset Control Regulations, (ii) maintain all records or other documentation related to Shareholder accounts and transactions therein that are required to be prepared and maintained pursuant to the Anti-Money Laundering Program and (iii) identify and report suspicious activities that are required to be so identified and reported pursuant to the Anti-Money Laundering Program. It is contemplated that the Anti-Money Laundering Program will be amended from time to time, as additional regulations are adopted and/or regulatory guidance is provided relating to the Trust’s anti-money laundering responsibilities. The Trust agrees that no amendments will be made to the Anti-Money Laundering Program, which might have the effect of changing the procedures employed by TFS in providing the services agreed to hereunder, unless the Trust first obtains TFS’s approval of such amendments or changes, which approval shall not be withheld unreasonably. In furtherance of the foregoing, the Trust hereby delegates to TFS the performance, on behalf of the Trust, of the Anti-Money Laundering Program set forth above as concerns the Shareholder accounts maintained by TFS pursuant to this Agreement. TFS agrees to the foregoing delegation and agrees to perform such services in accordance with the Anti-Money Laundering Program. In connection therewith, TFS agrees to maintain policies and procedures, and related internal controls, that are consistent with the Anti-Money Laundering Program and the regulations promulgated hereunder. Consequently, requirement that the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, Trust employ procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of Anti-Money Laundering Laws, including the Bank Secrecy Act and the implementing regulations thereunder; (b) undertake requirements to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (e) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML have policies and procedures (it being understood such information is that can be reasonably expected to be considered confidential detect and treated as such and afforded all protections provided to confidential information cause the reporting of transactions under Section 5318 of the BSA. TFS’s obligations under this Agreement): (y) a copy of a written assessment or report prepared by delegation shall be subject to the party performing requirement above that any material amendments to the independent testing Anti-Money Laundering Program be submitted to TFS for compliance (or a summary thereofits review and consent. In connection with the foregoing delegation, at PFPC's option), or a certification the Trust also acknowledges that the findings performance of the independent party are satisfactory; anti-money laundering services enumerated herein involves the exercise of discretion which in some circumstances may result in consequences to the Trust and its Shareholders (such as in the case of the reporting of suspicious activities and the freezing of Shareholder accounts). In this regard, (i) TFS is granted the discretion to take any such action as may be authorized under the Anti-Money Laundering Program, and consultation with the Trust shall not be required in connection therewith unless specifically required under the Anti-Money Laundering Program, and (zii) the Trust instructs TFS that it may avail the Trust of any safe harbor from civil liability that may be available under applicable Anti-Money Laundering Laws for making a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments disclosure or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably requestfiling a report thereunder."
Appears in 2 contracts
Samples: Transamerica Fund Services (Transamerica Funds), Transamerica Fund Services (Transamerica Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 2 contracts
Samples: Transfer Agency Services Agreement (Torray Fund), Transfer Agency Services Agreement (Old Westbury Funds Inc)
Anti-Money Laundering. As of In addition, to the Effective Dateservices listed in Section 14, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 2 contracts
Samples: Transfer Agency and Blue Sky Services Agreement (Bb&t Funds /), Transfer Agency and Blue Sky Services Agreement (BB&T Variable Insurance Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering (“AML”) laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."”
Appears in 2 contracts
Samples: Agency and Services Agreement (Forward Funds), Pacific Funds
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "“Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering (“AML”) laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."”
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: a. To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities lawsSecurities Laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: And Transfer Agency Services Agreement (Wilshire Variable Insurance Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found shall perform the following actions necessary to be reasonable, and ensure that the Fund desires to delegate certain AML procedures to PFPC, as permitted by is in compliance with Section 352 of the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve ensure the Fund's compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderSection 352; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an a qualified outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities; and (e) unless restricted by law, notify the Fund (specifically, endeavor to notify the Fund's designee as specified by the Fund to the PFPC Relationship Manager assigned to with which the Fund interacts) promptly whenever PFPC determines activity of a shareholder within the Fund to be suspicious and reportable, consistent with PFPC's established criteria (as attached hereto subject to being revised from time to time)(without limitation, this includes when shareholder names match names on OFAC lists and such matches are confirmed). Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) to the extent permitted by PFPC's parent company, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Undiscovered Managers Funds
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: 17.1 To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund Trust consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions of this subsection 17.1 does do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency Services Agreement (BHR Institutional Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "AntiANTI-Money LaunderingMONEY LAUNDERING. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Galaxy Fund /De/
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "AntiANTI-Money LaunderingMONEY LAUNDERING. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering ("AML") laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to detect and help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (xw) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (yx) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (zy) a summary of the AML training provided for appropriate personnel. In additionpersonnel and (z) a certificate regarding PFPC's AML program, PFPC shall provide the Fund with information necessary for name of its designated compliance officer, a brief description of the Fund to prepare audit process, a brief description of the employee training program and file Form 8300 and any other suspicious activity reports, required under periodic statistical summary reports of PFPC's AML laws, in connection with suspicious activity PFPC detectsmonitoring on behalf of the Funds. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. The parties acknowledge the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Burnham Investors Trust
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement _____________________ require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundFund or TIA, PFPC shall provide to the Fund's AML Compliance OfficerFund or TIA: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency Services Agreement (Travelers Series Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities lawsSecurities Laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML anti-money laundering ("AML") program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such proprietary information of PFPC and afforded all protections provided to confidential information under this Agreement): may not be disclosed without PFPC's prior written consent); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its PFPC's AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering ("AML") laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: Fund (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PPFC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."
Appears in 1 contract
Samples: Transfer Agency and Services Agreement (Domini Advisor Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "“Anti-Money Laundering. PFPC BNY Mellon has implemented various anti-money laundering ("“AML"”) procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPCBNY Mellon, as permitted by the USA PATRIOT Act (the "“PATRIOT Act"”) and the regulations promulgated hereunder. Consequently, the Fund and PFPC BNY Mellon desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC BNY Mellon to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC BNY Mellon shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC BNY Mellon shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunder; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's BNY Mellon’s AML program or by an outside party, for compliance with PFPC's BNY Mellon’s established policies and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's BNY Mellon’s AML program; and (e) provide ongoing training of PFPC BNY Mellon personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC BNY Mellon shall provide to the Fund's ’s AML Compliance Officer: (x) a copy of PFPC's BNY Mellon’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's BNY Mellon’s option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC BNY Mellon shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC BNY Mellon detects. PFPC BNY Mellon agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."”
Appears in 1 contract
Samples: Aquila Funds Trust
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering24.1. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund Portfolios consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Portfolios from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML anti-money laundering ("AML") program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such proprietary information of PFPC and afforded all protections provided to confidential information under this Agreement): shall not be disclosed without PFPC's prior written consent); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its PFPC's AML program as such examiners shall reasonably request. The parties agree the provisions of this Section 24.1 do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352 of the USA PATRIOT Act) or to regulations not promulgated under Section 352 of the USA PATRIOT Act."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML anti-money laundering ("AML") program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency Services Agreement (Sparx Funds Trust)
Anti-Money Laundering. As The Trust acknowledges that it is a financial institution subject to the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("U.S.A. Patriot") Act of 2001 and the Effective DateBank Secrecy Act (collectively, the Agreement is amended by adding "AML Acts") and shall comply with the following new provision: AML Acts and applicable regulations adopted thereunder (collectively, the "Anti-Money LaunderingApplicable AML Laws") in all relevant respects, subject to the delegation of certain responsibilities to MSS, as provided below. PFPC In compliance with the Applicable AML Laws, the Trusts has implemented various adopted an anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act program (the "PATRIOT ActTrust AML Program") which permits the Trust to delegate by contract the implementation and operation of the program to those primary service providers on which the Trust will have to rely to meet its obligations under the Applicable AML Laws. The Trust hereby delegates to MSS the performance, on behalf of the Trust, of the AML Services set forth in Schedule A as concerns the shareholder accounts maintained by MSS pursuant to this Agreement. MSS agrees to the foregoing delegation and agrees to perform the delegated services in accordance with the Trust AML Program. In connection therewith, MSS agrees to maintain policies and procedures, and related internal controls, that are consistent with the Trust AML Program and the regulations promulgated hereunder. Consequently, requirement that the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, Trust employ procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act Act. The Trust agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Trust maintains full responsibility for ensuring that the Trust AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the Trust, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Trust also acknowledges that the performance of the anti-money laundering services enumerated in Schedule A involves the exercise of discretion, which in certain circumstances may result in consequences to the Trust and its shareholders (such as in the case of the reporting of suspicious activities and the implementing regulations freezing of shareholder accounts). In this regard, (i) under circumstances in which the Trust AML Program authorizes the taking of certain actions, MSS is granted the discretion to take any such action as may be authorized, and consultation with the Trust shall not be required in connection therewith unless expressly required by the Trust AML Program, and (ii) the Trust instructs MSS that it may avail the Trust of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder. The Trust represents and warrants that (a) the Trust has adopted the Trust AML Program, and has appointed the Trust's AML Compliance Officer, who is an officer of the Trust; (b) undertake to revise such the Trust AML procedures as necessary Program and the designation of the AML Compliance Officer have been, or appropriatewill be at the next scheduled meeting of the Board, approved by the Board; (c) provide for independent testingthe delegation of certain services thereunder to MSS, as provided above, has been, or will be at the next scheduled meeting of the Board, approved by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies Board; and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (e) provide ongoing training of PFPC personnel relating Trust will submit any material amendments to the prevention Trust AML Program to MSS for MSS' review. Any amendment that would have a material impact upon the AML Services to be rendered by MSS or the responsibilities of money-laundering activitiesMSS shall be subject to approval by MSS prior to adoption. Upon the reasonable request of the Fund, PFPC shall provide to the FundThe Trust's AML Compliance Officer: (x) Officer need not be an officer of the Trust if not required by applicable laws and regulations. MSS represents and warrants to the Trust that it has adopted and will maintain a copy of PFPC's written AML program concerning the anti-money laundering services it provides to its various clients, and that its policies and procedures (are reasonably adequate for it being understood such information is to be considered confidential provide the AML Services and treated as such and afforded all protections provided to confidential information comply with its obligations under this Agreement): (y) a copy of a written assessment or report prepared Amendment. MSS shall grant reasonable access to the Trust, the AML Compliance Officer, and regulators having jurisdiction over the Trust, to the books and records maintained by MSS as the party performing same relates to the independent testing for compliance (or a summary thereof, at PFPC's option), or a certification that the findings AML Services performed hereunder on behalf of the independent party are satisfactory; and (z) a summary Trust. Records may be edited or redacted to maintain confidentiality of materials related to other clients of MSS. MSS shall make its relevant personnel available to meet with the Board concerning the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information Services at least annually or at such other internals as may be reasonably necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably requestappropriate."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund Trust desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund Trust and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund Trust consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunder; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (e) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the FundTrust's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund Trust with information necessary for the Fund Trust to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."
Appears in 1 contract
Samples: Churchill Tax Free Trust
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors shareholders in the Fund consistent with securities lawsSecurities Laws, and the Funds' Anti-Money Laundering Policies and Procedures (which shall not be materially different than PFPC's AML policies and procedures without PFPC's written consent), PFPC shall perform all reasonable actions necessary to help the Fund be in maintain compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the good faith option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions of this Section 17 do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency Services Agreement (JNL Investors Series Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering (“AML”) laws applicable to investor activity, including without limitation the Bank Secrecy Act and the PATRIOT Act Patriot Act, as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to detect and help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (xw) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (yx) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (zy) a summary of the AML training provided for appropriate personnel. In addition; and (z) a certificate regarding PFPC’s AML program, PFPC shall provide the Fund with information necessary for name of its designated compliance officer, a brief description of the Fund to prepare audit process, a brief description of the employee training program and file Form 8300 and any other suspicious activity reports, required under periodic statistical summary reports of PFPC’s AML laws, in connection with suspicious activity PFPC detectsmonitoring on behalf of the Funds. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. The parties acknowledge the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352 regarding anti-money laundering programs) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency and Services Agreement (Burnham Investors Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML"i) procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC PNC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML federal anti-money laundering (“AML”) laws applicable to investor activitymutual funds (i.e., including the Bank Secrecy Act and as amended by the USA PATRIOT Act of 2001) as follows: In this regard, PFPC shall: (aA) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (cB) provide for independent testing, by an employee who is not responsible for the operation of PFPC's PNC’s AML program or by an outside party, for compliance with PFPC's PNC’s established AML policies and procedures; (dC) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's PNC’s AML program; and (eD) provide ongoing training of PFPC PNC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC PNC shall provide to the Fund's AML Compliance Officer: (xX) a copy of PFPC's PNC’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information Confidential Information under this Agreement): ); (yY) at the option of PNC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (zZ) a summary of the AML training provided for appropriate PNC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC PNC agrees to permit inspections relating to its PNC’s AML program by U.S. Federal United States federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its PNC’s AML program as such examiners shall reasonably request."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement _____________________ require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundFund or TAMIC, PFPC shall provide to the Fund's AML Compliance OfficerFund or TAMIC: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency Services Agreement (Travelers Series Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund Trust consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish has established and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide has provided for independent testing, by an employee who is not responsible for the operation of PFPC's AML anti-money laundering (“AML”) program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dc) designate has designated a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) shall provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Investment Company Services Agreement (Matthews International Funds)
Anti-Money Laundering. As Each of the Effective Dateparties to this Agreement will establish and maintain programs, policies and procedures as required by federal, state or local law to detect and prevent money laundering. Each party shall cooperate with the Agreement is amended others to the extent required by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various law to facilitate implementation of each other’s anti-money laundering ("AML") procedures as described belowprogram, which it has found may include annual AML compliance certifications, periodic AML due diligence reviews and/or other requests deemed necessary to be reasonable, and ensure compliance with the Fund desires to delegate certain AML procedures to PFPCregulations. As required by the Bank Secrecy Act, as permitted amended by the USA PATRIOT Act Act, its implementing regulations, and related SEC and Self-regulatory Organization rules (the "PATRIOT Act"collectively “AML Regulations”), ING hereby represents and warrant that it has a comprehensive anti-money laundering compliance program which includes (i) and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed for complying with the AML Regulations; (ii) policies, procedures and internal controls for identifying, evaluating and reporting suspicious activity; (iii) a designated compliance officer or officers; (iv) training for appropriate employees; and (v) an independent review of the anti- money laundering compliance program (“AML Program”). ING also hereby represents and warrants that it is in compliance with its AML Program. ING agrees to prevent the Fund from being used cooperate with Distributor to launder money or finance terrorist activities and satisfy Distributor’s AML due diligence policies, which may include annual AML compliance certifications, periodic AML due diligence reviews and/or other requests deemed necessary to achieve ensure Distributor’s compliance with the AML regulations. To the extent consistent with applicable provisions law, ING will take all steps necessary and appropriate to provide the Funds and/or Distributor with any requested information about its customers and their Accounts in the event that the Funds and/or Distributor shall request such information due to an inquiry or investigation by any law enforcement, regulatory or administrative authority. ING acknowledges that United States Federal law, regulations and Executive Orders administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) prohibit the parties from, among other things, engaging in transactions with, and the provision of services to, persons on the list of Specially Designated Nationals and Blocked Persons (the “SDN List”) or that are the subject of any of the Bank Secrecy Act U.S. sanctions programs, as codified at 31 CFR 500 et. seq. (together with the SDN List, the “OFAC Maintained Sanctions Programs”). ING represents and warrants that that it is in compliance, and will continue to be in compliance, with all applicable OFAC Maintained Sanctions Programs. ING agrees that it will notify Distributor in the implementing regulations thereunder; (b) undertake to revise such AML procedures as necessary event that ING determines or appropriate; (c) provide for independent testing, by an employee who becomes aware that a beneficiary of a Fund account is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (d) designate a person or persons responsible for implementing and monitoring that is the operation and internal controls subject of PFPC's AML program; and (e) provide ongoing training of PFPC personnel relating an OFAC Maintained Sanctions Program. ING confirms that, with respect to the prevention of money-laundering activities. Upon the reasonable request of the FundFunds, PFPC shall ING does not provide correspondent accounts to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably requestforeign financial institutions."
Appears in 1 contract
Samples: Selling and Services Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as shall provide the services described belowin Section 15 of the Agreement consistent with the Securities Laws, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by in compliance with Section 352 of the USA PATRIOT Act Act, as follows (specifically, PFPC undertakes to perform the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors described in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act attached ANTI-MONEY LAUNDERING SERVICES PROGRAM SUMMARY as follows: stated therein): In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall promptly provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (a copy of which is attached hereto) (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereof, at PFPC's option), ) or a certification that the findings of the independent party are satisfactorysatisfactory (PFPC will also provide a copy of such a summary or certification upon the reasonable request of the Fund); and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Upon the publication of additional final anti-money laundering regulations, PFPC will work with the Fund to offer, on reasonable terms, for the Fund's benefit services to help the Fund satisfy its obligations under such regulations."
Appears in 1 contract
Samples: Abn Amro Funds
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML"i) procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (aA) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (cB) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established AML policies and procedures; (dC) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (eD) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (xX) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information Confidential Information under this Agreement): ); (yY) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (zZ) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its PFPC’s AML program by U.S. Federal United States federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its PFPC’s AML program as such examiners shall reasonably request. The parties agree the provisions of this Section 14(q)(i) do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352 of the USA PATRIOT Act ) or to regulations not promulgated under Section 352 of the USA PATRIOT Act."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found Subject to be reasonable, the terms and conditions of the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities lawsagreement, PFPC shall perform all reasonable actions reasonably necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including Section 352 of the Bank Secrecy Act and the USA PATRIOT Act (and regulations promulgated thereunder), as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to detect and help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (xw) a copy of PFPC's written AML policies and procedures (it being understood that such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (yx) at the option of PFPC, at least one of the following items will be provided to the Fund - a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification by an officer of PFPC that the findings of the independent party are satisfactory; and (zy) a summary of the AML training provided for appropriate personnelpersonnel and (z) a certificate executed by an officer of PFPC regarding PFPC's AML program, the name of its designated compliance officer, a description of the audit process, a description of the employee training program (all of which may be taken from PFPC's most current standard materials). In addition, PFPC shall will also provide quarterly statistical summary reports of PFPC's AML monitoring on behalf of the Fund with information necessary for Funds (the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detectsfirst one being due not before the six month anniversary hereof). PFPC agrees to permit inspections relating to its AML program by the Harris Insight Funds Trust'x XXX Compliance Officer and by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. The parties acknowledge the provisions of this paragraph do not cover Section 326 or any other section (other than Section 352) of the USA PATRIOT Act (or the regulations promulgated thereunder)."
Appears in 1 contract
Samples: Harris Insight Funds Trust
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC the Distributor to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC the Distributor shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: described hereinafter. In this regard, PFPC the Distributor shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's the Distributor’s AML program or by an outside party, for compliance with PFPC's the Distributor’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's the Distributor’s AML program; and (ed) provide ongoing training of PFPC the Distributor’s personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC the Distributor shall provide to the Fund's ’s officer in charge of AML compliance (the “AML Compliance Officer: ”): (x) a copy of PFPC's the Distributor’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In additionUnless otherwise performed by the Fund’s transfer agent, PFPC the Distributor shall also: (i) collect and maintain investor information, verify the identity of investors and check investor identities against all government lists of known or suspected terrorists and terrorist organizations in compliance with the procedures set forth in the Fund’s AML program and the PATRIOT Act; (ii) provide notice of the Fund’s customer identification procedures to prospective investors in the manner permitted by the PATRIOT Act before an account is opened; (iii) maintain records of the information collected and methods used to verify investor identity in compliance with the PATRIOT Act; (iv) monitor investor accounts for suspicious activity to the extent required by AML laws or the PATRIOT Act; and (v) make any required regulatory filings on behalf of the Fund with information necessary for the Fund to prepare and file including, but not limited to, Form 8300 and any other suspicious activity reports, reports (to the extent required under by AML laws) and promptly provide a copy of all such reports filed to the Fund’s AML Compliance Officer. To the extent that a Fund regulator wishes to examine the Distributor regarding its services hereunder, in connection the Distributor shall cooperate with suspicious activity PFPC detectsand permit examinations of its records and personnel by such regulator, coordinating any such response with the Fund’s AML Compliance Officer. PFPC The Distributor also agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such any information and records relating to its the Fund’s AML program as such examiners shall reasonably request."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: 16.1 To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund Trust consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML ’s anti-money laundering (“AML”) program or by an outside party, for compliance with PFPC's ’s established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency Services Agreement (Pax World Balanced Fund)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Anti-Money Laundering. As The Trust acknowledges that it is a financial institution subject to the United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("U.S.A. Patriot") Act of 2001 and the Effective DateBank Secrecy Act (collectively, the Agreement is amended by adding "AML Acts") and shall comply with the following new provision: AML Acts and applicable regulations adopted thereunder (collectively, the "Anti-Money LaunderingApplicable AML Laws") in all relevant respects, subject to the delegation of certain responsibilities to InCap, as provided below. PFPC In compliance with the Applicable AML Laws, the Trust has implemented various adopted an anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act program (the "PATRIOT ActAML Program") which permits the Trust to delegate by contract the implementation and operation of the program to those primary service providers on which the Trust will have to rely to meet its obligations under the Applicable AML Laws. The Trust hereby delegates to InCap the performance, on behalf of the Trust, of the AML services set forth in Schedule A hereto as it relates to the shareholder accounts maintained by InCap pursuant to this Agreement (the "AML Services"). InCap agrees to the foregoing delegation and agrees to perform the delegated services in accordance with the AML Program. In connection therewith, InCap agrees to maintain policies and procedures, and related internal controls, that are consistent with the AML Program and the regulations promulgated hereunder. Consequently, requirement that the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, Trust employ procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act Act. The Trust agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Trust maintains full responsibility for ensuring that the AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the Trust, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Trust also acknowledges that the performance of the anti-money laundering services enumerated in Schedule A hereto involves the exercise of discretion, which in certain circumstances may result in consequences to the Trust and its shareholders (such as in the case of the reporting of suspicious activities and the implementing regulations freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, InCap is granted the discretion to take any such action as may be authorized, and consultation with the Trust shall not be required in connection therewith unless expressly required by the AML Program, and (ii) the Trust instructs InCap that it may avail the Trust of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder. The Trust represents and warrants that (a) the Trust has adopted the AML Program, and has appointed the Trust's AML Compliance Officer, who is an officer of the Trust; (b) undertake to revise such the AML procedures as necessary Program and the designation of the AML Compliance Officer have been, or appropriatewill be at the next scheduled meeting of the Board, approved by the Board; (c) provide for independent testingthe delegation of certain services thereunder to InCap, as provided above, has been, or will be at the next scheduled meeting of the Board, approved by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies Board; and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (e) provide ongoing training of PFPC personnel relating Trust will submit any material amendments to the prevention AML Program to InCap for InCap's review. Any amendment that would have a material impact upon the AML Services to be rendered by InCap or the responsibilities of money-laundering activitiesInCap shall be subject to approval by InCap prior to adoption. Upon the reasonable request of the Fund, PFPC shall provide to the FundThe Trust's AML Compliance Officer: (x) Officer need not be an officer of the Trust if not required by applicable laws and regulations. InCap represents and warrants to the Trust that it has adopted and will maintain a copy of PFPC's written AML program concerning the anti-money laundering services it provides to its various clients, and that its policies and procedures (are reasonably adequate for it being understood such information is to be considered confidential provide the AML Services and treated as such and afforded all protections provided to confidential information comply with its obligations under this Agreement): (y) a copy of a written assessment or report prepared Amendment. InCap shall grant reasonable access to the Trust, the AML Compliance Officer, and regulators having jurisdiction over the Trust, to the books and records maintained by InCap as the party performing same relates to the independent testing for compliance (or a summary thereof, at PFPC's option), or a certification that the findings AML Services performed hereunder on behalf of the independent party are satisfactory; and (z) a summary Trust. Records may be edited or redacted to maintain confidentiality of materials related to other clients of InCap. InCap shall make its relevant personnel available to meet with the Board concerning the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information Services at least annually or at such other intervals as may be reasonably necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably requestappropriate."
Appears in 1 contract
Samples: Investment Company Services Agreement (Conestoga Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to shall establish, maintain and monitor shareholder accounts of investors in each series of the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be Securities Laws (as defined in compliance with United States Federal the Transfer Agent Agreement) and the AML laws rules and regulations applicable to investor shareholder activity, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regardAct. Specifically, PFPC shall: (a) establish and implement written internal policies, undertakes to perform the services described in the attached AML procedures and internal controls reasonably designed more generally in the "Frequently Asked Questions" (as amended from time to prevent time, the Fund from being used to launder money or finance terrorist activities and to achieve compliance with "Procedures"). To the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunder; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (d) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (e) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fundextent reasonable, PFPC shall provide update the Procedures to reflect changes in applicable rules, regulations and laws and such Procedures are made a part hereof. However, if the Procedures (1) are to be updated in a manner which terminates AML services necessary to the Fund's AML compliance, or (2) are only to be updated for additional fees, or (3) will not be updated for future AML requirements, then PFPC must give the Fund reasonable prior notice. PFPC shall promptly provide the Fund's AML Compliance Officer: (x) Officer with a copy of PFPC's written the revised Procedures and shall create and maintain all necessary records related thereto, providing copies to the Fund, the Adviser or the Distributor as each may reasonably request to assist it in its respective AML policies programs. Where applicable, such records shall be maintained for the periods and procedures in the places required by Rule 31a-2 under the 1940 Act (it being understood such information is to be considered confidential as defined in the Transfer Agent Agreement). To the extent reasonably requested, PFPC will promptly provide certifications, copies of SAS 70, and treated as such and afforded all protections provided to confidential information under this Agreement): (y) a copy copies of a written assessment or report prepared by the party performing the any independent testing for compliance audit (or a summary thereof, at PFPC's option), or a certification that the findings ) of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnelits Procedures. In addition, PFPC shall provide cooperate with the Fund with information necessary AML Compliance Officer in requests for the Fund to prepare documents and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detectsreports as may reasonably be requested periodically. PFPC agrees to cooperate with and permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to federal examiners from such departments or regulatory agencies such to: (i) obtain information and records relating to the Fund's AML program that is in the possession of PFPC; and (ii) inspect PFPC for purposes of compliance with the Fund's AML program. If PFPC becomes aware that its AML program as such examiners shall reasonably requestpolicy and Procedures are deficient and fails to promptly effect corrective action, PFPC will promptly notify the Fund AML Compliance Officer."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors shareholders in the Fund Trust consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunder(“AML Procedures”); (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering and terrorist financing activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request.". Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder. The following is a general description of the anti-money laundering services that the Trust has delegated to PFPC and PFPC agrees to implement and operate on behalf of the Trust in accordance with the AML Procedures pertaining to the delegated services below:
Appears in 1 contract
Samples: Investment Company Services Agreement (Matthews International Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: 15.1 To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML ’s anti-money laundering (“AML”) program or by an outside party, for compliance with PFPC's ’s established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information Confidential Information under this Agreement): ); (y) a copy of a written assessment or report prepared by the party performing the independent testing for compliance (or a summary thereofor, if the independent testing is performed internally by PFPC, at PFPC's option’s option a summary of such written assessment or report), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. The parties agree the provisions of this subsection 15.1 do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352 of the USA PATRIOT Act) or to regulations not promulgated under Section 352 of the USA PATRIOT Act."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "“Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."”
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML"i) procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML federal anti-money laundering (“AML”) laws applicable to investor activitymutual funds (i.e., including the Bank Secrecy Act and as amended by the USA PATRIOT Act of 2001) as follows: In this regard, PFPC shall: (aA) establish and implement written internal policies, procedures and internal controls reasonably designed to prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (cB) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established AML policies and procedures; (dC) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (eD) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (xX) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information Confidential Information under this Agreement): ); (yY) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (zZ) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its PFPC’s AML program by U.S. Federal United States federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its PFPC’s AML program as such examiners shall reasonably request."
Appears in 1 contract
Samples: Transfer Agency Agreement (BlackRock Fixed Income Value Opportunities)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors shareholders in the Fund Trust consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's ’s AML program or by an outside party, for compliance with PFPC's ’s established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Investment Company Services Agreement (Matthews International Funds)
Anti-Money Laundering. As of the Effective Date, the The Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML anti-money laundering ("AML") laws applicable to investor activity, including the Bank Secrecy Act and the PATRIOT Act Act, as follows: In this regard, PFPC shallshall : (a) establish and implement written internal policies, procedures procedures, and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of pf PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal interanal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): agreement); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request."
Appears in 1 contract
Samples: Tweedy Browne Fund Inc
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: 16.1 To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund Trust consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions of this subsection 16.1 do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency Services Agreement (BHR Institutional Funds)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: 16.1 To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML ’s anti-money laundering (“AML”) program or by an outside party, for compliance with PFPC's ’s established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Form of Transfer Agency Services Agreement (Allianz RCM Global EcoTrends Fund)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering24.1. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund Portfolios consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Portfolios from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML ’s anti-money laundering (“AML”) program or by an outside party, for compliance with PFPC's ’s established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's ’s AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the Fund, PFPC shall provide to the Fund's AML Compliance Officer: (x) a copy of PFPC's ’s written AML policies and procedures (it being understood such information is to be considered confidential and treated as such proprietary information of PFPC and afforded all protections provided to confidential information under this Agreement): shall not be disclosed without PFPC’s prior written consent); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its PFPC’s AML program as such examiners shall reasonably request. The parties agree the provisions of this Section 24.1 do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352 of the USA PATRIOT Act) or to regulations not promulgated under Section 352 of the USA PATRIOT Act."
Appears in 1 contract
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund Trust consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (ai) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (cii) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML program or by an outside party, for compliance with PFPC's established policies and procedures; (diii) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (eiv) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency Services Agreement (Afl Cio Housing Investment Trust)
Anti-Money Laundering. As of the Effective Date, the Agreement is amended by adding the following new provision: "Anti-Money Laundering. PFPC has implemented various anti-money laundering ("AML") procedures as described below, which it has found to be reasonable, and the Fund desires to delegate certain AML procedures to PFPC, as permitted by the USA PATRIOT Act (the "PATRIOT Act") and the regulations promulgated hereunder. Consequently, the Fund and PFPC desire to amend the Agreement to reflect such services explicitly as follows: To the extent the other provisions of this Agreement require PFPC to establish, maintain and monitor accounts of investors in the Fund Trust consistent with securities laws, PFPC shall perform all reasonable actions necessary to help the Fund Trust be in compliance with United States Federal AML laws applicable to investor activitySection 352 of the USA PATRIOT Act, including the Bank Secrecy Act and the PATRIOT Act as follows: In this regard, PFPC shall: (a) establish and implement written internal policies, procedures and internal controls reasonably designed to help prevent the Fund Trust from being used to launder money or finance terrorist activities and to achieve compliance with the applicable provisions of the Bank Secrecy Act and the implementing regulations thereunderactivities; (b) undertake to revise such AML procedures as necessary or appropriate; (c) provide for independent testing, by an employee who is not responsible for the operation of PFPC's AML anti-money laundering (“AML”) program or by an outside party, for compliance with PFPC's established AML policies and procedures; (dc) designate a person or persons responsible for implementing and monitoring the operation and internal controls of PFPC's AML program; and (ed) provide ongoing training of PFPC personnel relating to the prevention of money-laundering activities. Upon the reasonable request of the FundTrust, PFPC shall provide to the Fund's AML Compliance OfficerTrust: (x) a copy of PFPC's written AML policies and procedures (it being understood such information is to be considered confidential and treated as such and afforded all protections provided to confidential information under this Agreement): ); (y) at the option of PFPC, a copy of a written assessment or report prepared by the party performing the independent testing for compliance (compliance, or a summary thereof, at PFPC's option), or a certification that the findings of the independent party are satisfactory; and (z) a summary of the AML training provided for appropriate PFPC personnel. In addition, PFPC shall provide the Fund with information necessary for the Fund to prepare and file Form 8300 and any other suspicious activity reports, required under AML laws, in connection with suspicious activity PFPC detects. PFPC agrees to permit inspections relating to its AML program by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to its AML program as such examiners shall reasonably request. Without limiting or expanding the foregoing, the parties agree the provisions herein do not apply to Section 326 of the USA PATRIOT Act (or other sections other than Section 352) or regulations promulgated thereunder."
Appears in 1 contract
Samples: Transfer Agency Services Agreement (FundVantage Trust)