Relationship with Pershing. Pershing and MOIS are separate legal entities that have entered into a fully disclosed clearing agreement for Pershing to provide clearing and financial custody services. In the event you are now or will be in the future entering into a fully-disclosed account with Pershing, you agree to be bound by the Clearing Terms and Conditions contained in this Agreement, as well as the other terms and conditions of this Agreement. You acknowledge and agree that if you establish an account with Pershing that you have read and understand the respective duties and responsibilities of MOIS and Pershing as set forth in the Pershing Disclosure Statement, including but not limited to: • Pershing is responsible for the execution, clearing and recording of transactions conducted through Pershing. • Pershing is responsible for preparing confirmations and statements reflecting any transactions or other financial activities in your Pershing accounts. • Pershing is responsible for extending credit (margin), receiving, delivering, holding and disbursing monies or securities, including paying or collecting dividends, interest and processing other corporate actions (i.e., redemptions, tender offers, share splits).