Outgoing FedWires for Third Parties. Requests for third-party wires are processed by Pershing on an exception basis using a risk-based approach. When allowed, for outgoing FedWires ordered to the delivery of a person or entity other than the account holder, Pershing shall review relevant information, including the payee’s name, address, and account number, and the recipient bank’s name and address, to detect possible violations of OFAC restrictions.
Appears in 5 contracts
Samples: Fully Disclosed Clearing Agreement, Fully Disclosed Clearing Agreement (Gleacher & Company, Inc.), Fully Disclosed Clearing Agreement (Summit Financial Services Group Inc)
