Compliance Administration Services Clause Samples
Compliance Administration Services. Service Provider will provide the following services to the Client and any Fund and Portfolio listed on Schedule 4, subject to the terms and conditions of the Agreement (including the Schedules) to assist the Client in its obligations pursuant to Rule 38a-1 under the 1940 Act :
1. Perform risk-based testing and an annual assessment of the compliance procedures of each service group of Service Provider (other than the Compliance Services group) that provides services for the Client pursuant to this Agreement, including additional testing reasonably requested by the Client.
2. Provide information reasonably requested by the Board in connection with the Board’s determination regarding the adequacy and effectiveness of the compliance procedures described in Item III.1 above.
3. Provide reports to the Client’s Chief Compliance Officer regarding the risk-based testing and annual assessment described in Item III.1 above.
Compliance Administration Services. Citi will provide the following services to the Client, subject to the terms and conditions of the Agreement (including the Schedules), to assist the Fund in its obligations pursuant to Rule 38a-1 under the 1940 Act:
(a) Perform risk-based testing and an annual assessment of the compliance procedures of each service group of Citi (other than the Compliance Services group) that provides services for the Fund pursuant to this Agreement. The areas to be covered, at a minimum, as applicable to the services performed, are: (i) pricing of portfolio securities and fund shares; (ii) processing of fund shares; (iii) protection of nonpublic information; (iv) compliance with applicable fund governance requirements; and (v) market timing. Also included, as applicable to the services performed, are: (i) continuity of business; (ii) portfolio compliance; (iii) record retention; (iv) distribution of NAVs; (v) regulatory filings; (vi) expenses; and (vii) total returns.
(b) Perform risk-based testing and an annual assessment of the compliance procedures of FIS Investor Services, LLC. The areas to be covered, at a minimum, as applicable to the services performed, are: (i) pricing of portfolio securities and fund shares; (ii) processing of fund shares; (iii) protection of nonpublic information; (iv) compliance with applicable fund governance requirements; and (v) market timing. Also included, as applicable to the services performed, are (i) transfer agent regulatory filings; (ii) continuity of business; (iii) record retention; (iv) anti-money laundering; and (v) identity theft prevention.
(c) Provide information reasonably requested by the Fund’s Board in connection with the Board’s determination regarding the adequacy and effectiveness of the compliance procedures described in Items (a) and (b) above.
(d) Provide reports to the Fund’s Chief Compliance Officer regarding the risk-based testing and annual assessment described in Items (a) and (b) above.