Common use of New Accounts Clause in Contracts

New Accounts. A. The Parties shall be responsible for complying with the USA PATRIOT ACT and Anti-Money Laundering (“AML”) regulations as well as all Applicable Laws and Rules. B. DriveWealth will establish accounts for Customers for the purpose of those accounts participating in Issuer’s Offerings on a fully disclosed basis. DriveWealth will be responsible for executing its AML Compliance Program including Customer Identification Program (“CIP”) and Know-Your-Customer (“KYC”) procedures. C. DriveWealth reserves the right, in its sole discretion, to refuse to establish the account for a Customer for any reason. Issuer will be responsible for obtaining any additional Customer information required by DriveWealth for DriveWealth to make a good verification. If DriveWealth requests additional documentation needed to make a good Customer verification and, if such documentation is not obtained and returned within thirty (30) days of DriveWealth’s request, DriveWealth reserves the right to place trading restriction(s) on the Account including, but not limited to, freezing the Account’s assets, until such time that DriveWealth has received the requested documentation and made a good Customer verification. D. The Customer applications, agreements, and forms do not convey any rights to Issuer. This Agreement does not act as a substitute for any agreements Issuer is required to execute with the Customer.