Duties of Distributor Pursuant to the Trust’s AML Program. (i) Subject to the terms and conditions set forth in the Agreement, the Trust hereby delegates to the Distributor the following functions with respect to the implementation of new customer accounts and the operation of existing customer accounts as required by the Trust’s AML Program and Section 103.131(b) of Section 326 of the USA Patriot Act (the “CIP Regulations”): • Obtaining the following identifying information from each customer, as applicable: (i) name, (ii) address, and (iii) tax payer identification number; • Verifying the identification of each institutional account holder, through documents or through non-documentary methods, in accordance with the CIP Regulations, so as to permit a reasonable belief that the true identity of the customer is known, provided however, that when it is determined that a prospective institutional account holder is a subsidiary of ING Groep, N.V., the verification of such entity’s identity will not need to be separately verified other than the collection of its name, address and tax identification number; • Determining, within the time required by law, whether the institutional account holder appears on any list of known or suspected terrorists or terrorist agencies issued by a Federal government agency and designated as such by the Department of Treasury; • In consultation with the Trust’s Money Laundering Reporting Officer (“MLRO”) as applicable, determining, in a case in which identity cannot be verified, what action should be taken with respect to the institutional account holder and whether a suspicious activity report should be filed; and • Creating and retaining records documenting the performance of these functions as required by the Trust’s AML Program. (ii) The Distributor agrees to perform such delegated duties subject to and in accordance with the terms and conditions of the Agreement. The Distributor has provided a copy of its anti-money laundering program to the Trust and will provide to the Trust any material modifications to its anti-money laundering program promptly after their adoption. With respect to any internal audits of the Distributor’s anti-money laundering program, the Distributor agrees to provide a prompt report regarding any exceptions to its program in connection with the Trust and its institutional accounts to the Trust’s designated MLRO provided such disclosure is permitted by the information sharing provisions of the USA Patriot Act.
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Samples: Distribution Agreement (Ing Investors Trust), Distribution Agreement (Ing Investors Trust), Distribution Agreement (Ing Investors Trust)
Duties of Distributor Pursuant to the Trust’s AML Program. (i) Subject to the terms and conditions set forth in the Agreement, the Trust hereby delegates to the Distributor the following functions with respect to the implementation of new customer accounts and the operation of existing customer accounts as required by the Trust’s AML Program and Section 103.131(b) of Section 326 of the USA Patriot Act (the “CIP Regulations”): • · Obtaining the following identifying information from each customer, as applicable: (i) name, (ii) address, and (iii) tax payer identification number; • · Verifying the identification of each institutional account holder, through documents or through non-documentary methods, in accordance with the CIP Regulations, so as to permit a reasonable belief that the true identity of the customer is known, provided however, that when it is determined that a prospective institutional account holder is a subsidiary of ING Groep, N.V., the verification of such entity’s identity will not need to be separately verified other than the collection of its name, address and tax identification number; • · Determining, within the time required by law, whether the institutional account holder appears on any list of known or suspected terrorists or terrorist agencies issued by a Federal government agency and designated as such by the Department of Treasury; • · In consultation with the Trust’s Money Laundering Reporting Officer (“MLRO”) as applicable, determining, in a case in which identity cannot be verified, what action should be taken with respect to the institutional account holder and whether a suspicious activity report should be filed; and • · Creating and retaining records documenting the performance of these functions as required by the Trust’s AML Program.
(ii) The Distributor agrees to perform such delegated duties subject to and in accordance with the terms and conditions of the Agreement. The Distributor has provided a copy of its anti-money laundering program to the Trust and will provide to the Trust any material modifications to its anti-money laundering program promptly after their adoption. With respect to any internal audits of the Distributor’s anti-money laundering program, the Distributor agrees to provide a prompt report regarding any exceptions to its program in connection with the Trust and its institutional accounts to the Trust’s designated MLRO provided such disclosure is permitted by the information sharing provisions of the USA Patriot Act.
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Samples: Distribution Agreement (Voya INVESTORS TRUST), Distribution Agreement (Voya INVESTORS TRUST)