Shareholder Information (Rule 22c-2) Clause Samples
The Shareholder Information (Rule 22c-2) clause requires mutual funds and their intermediaries to collect and provide detailed information about shareholder transactions. In practice, this means that intermediaries such as brokers or retirement plan administrators must be able to identify and report the identity and transaction history of individual investors to the fund upon request. This clause is designed to help funds monitor for and prevent market timing or other abusive trading practices, thereby protecting the interests of long-term shareholders and ensuring regulatory compliance.
Shareholder Information (Rule 22c-2). 14.1 Pursuant to Rule 22c-2 under the 1940 Act, the Company agrees to provide to the Fund, upon written request, the taxpayer identification number (“TIN”), the Individual/International Taxpayer Identification Number (“ITIN”), or other government-issued identifier (“GII”) and the Contract Owner number or participant account number, if known, of any or all Contract Owner(s) of the account, and the amount, date and transaction type (purchase, redemption, transfer, or exchange) of every purchase, redemption, transfer, or exchange of shares held through an account maintained by the Company during the period covered by the request. Unless otherwise specifically requested by the Fund, the Company shall only be required to provide information relating to Contract Owner Initiated Transfer Purchases or Contract Owner Initiated Transfer Redemptions.
(a) Period Covered by Request. Requests must set forth a specific period, not to exceed 90 days from the date of the request, for which transaction information is sought. The Fund may request transaction information older than 90 days from the date of the request as it deems necessary to investigate compliance with policies established or utilized by the Fund for the purpose of eliminating or reducing any dilution of the value of the outstanding shares issued by a Portfolio. If requested by the Fund, the Company will provide the information specified in this Section 14.1 for each trading day.
Shareholder Information (Rule 22c-2). 11.1 Company agrees to provide promptly, but not later than seven Business Days, to the Fund, upon Written request, the taxpayer identification number (“TIN”), the Individual/International Taxpayer Identification Number (“ITIN”) or other government-issued identifier (“GII”), if known, of any or all Contractholder(s) who have purchased, redeemed, transferred or exchanged Shares held through an Account with the Company during the period covered by the request and the amount, date, name or other identifier of any investment professional(s) associated with the Contractholder(s) or the Account (if known), and transaction type (purchase, redemption, transfer or exchange) of every purchase, redemption, transfer or exchange of Shares. To the extent practicable, the format for any transaction information provided to the Participating Fund should be consistent with the National Securities Clearing Corporation Standardized Data Reporting Format. Unless otherwise specifically requested by the Fund, the Company shall only be required to provide information relating to Contractholder Initiated Transfer Purchases or Contractholder Initiated Redemptions.
11.2 Requests must set forth a specific period, not to exceed ninety days from the date of the request, for which transaction information is sought. The Fund may request transaction data older than ninety days from the date of the request as it deems necessary to investigate compliance with policies established by the Fund for the purpose of eliminating or reducing dilution to the value of the outstanding Shares issued by the Fund.
11.3 Company agrees to use best efforts to determine, promptly upon request of the Fund, but not later than ten days, whether any person that holds Shares through Company or its Account is an “indirect intermediary “as defined in Rule 22c-2 under the 1940 Act (an “Indirect Intermediary”), and upon further request of the Fund, (i) provide or arrange to have provided the information set forth in Section 11.1 of this Article XI regarding Contractholders who hold an account with an Indirect Intermediary; or (ii) restrict or prohibit the Indirect Intermediary from purchasing Shares on behalf of itself or other persons. Company agrees to inform the Fund whether Company plans to perform (i) or (ii).
11.4 Fund and Adviser agree not to use the information received under this Article XI for marketing or any other similar purpose without the prior Written consent of Company.
11.5 Company agrees to execute...
Shareholder Information (Rule 22c-2)