Common use of Supervision of Orders and Accounts Clause in Contracts

Supervision of Orders and Accounts. As between NFS and Correspondent, Correspondent will be responsible for reviewing, monitoring and supervising transactions, investments and other activity by every Customer and Account under this Agreement. Correspondent shall be responsible for ensuring that all transactions in and activities related to all Accounts opened by it with NFS, including discretionary Accounts, will be in material compliance with all applicable laws, rules and regulations of the United States, the several states, governmental agencies, securities exchanges, and FINRA, including any laws relating to Correspondent’s fiduciary responsibilities to Customers, if any, either under the Employee Retirement Income Security Act of 1974 or otherwise. Without limiting the foregoing obligations of Correspondent, Correspondent shall be responsible for: (1) determining the suitability of all investments, investment strategies and transactions, including option transactions to the extent required by applicable laws, rules, and regulations, (2) ensuring that there is a reasonable basis for any recommendations made by Correspondent to Customers to the extent required by applicable laws, rules, and regulations, (3) assessing the appropriateness of the frequency of trading in Accounts to the extent required by applicable laws, rules, and regulations, (4) providing all required documents and other disclosures to Customers pertaining to functions or responsibilities under this Agreement (with the exception of the notice to customers provided by NFS pursuant to Section XVII of this Agreement), including but not limited to the Options Clearing Corporation disclosure document, the Premiere Select IXX Custodial Agreement and Disclosure Statement and/or Premiere Select Rxxx XXX Custodial Agreement and Disclosure Statement (where required), and (5) complying with the applicable sales practice, disclosure and other requirements of Section 15(g) of the Exchange Act and the rules thereunder. In addition to the terms herein, Correspondent shall be responsible for ensuring that mutual fund transactions initiated by the Correspondent shall comply with Applicable Laws and Regulations, the terms of any applicable prospectus or other governing documents, and the policy and procedures of NFS and the mutual fund or its service providers, including but not limited to matters relating to break point price eligibility, market timing, excessive or disruptive trading and trade cut-off times and related transaction pricing. Correspondent shall diligently supervise the activities of its officers, employees and representatives with respect to such Accounts. Correspondent shall be responsible for: (1) selecting, investigating, training, and supervising all personnel of the Correspondent who open, approve, or authorize Accounts and transactions in the Accounts, (2) establishing written procedures for reviewing activity in Accounts and ongoing review of all transactions in Accounts, and maintaining compliance and supervisory personnel adequate to implement such procedures, and (3) ensuring that each instruction given to NFS with respect to any Customer or Account including but not limited to the acquisition, disposition or transfer of funds or securities shall be properly authorized by such Customer or Account. NFS reserves the right to reject any instruction unless such instruction is accompanied by such documentation as NFS reasonably deems appropriate. NFS shall diligently supervise the activities of its officers, employees and representatives with respect to the functions and responsibilities allocated to NFS under this Agreement. NFS shall maintain written supervisory procedures with respect to the functions and responsibilities allocated to NFS under this Agreement to the extent required by applicable law, rule or regulation.

Supervision of Orders and Accounts. As between NFS and CorrespondentExcept as otherwise specified in this Agreement, Correspondent will be Broker is solely responsible for reviewingthe conduct of the Accounts, monitoring and supervising transactions, investments and other activity by every Customer and Account under this Agreement. Correspondent shall be responsible for ensuring that all the transactions conducted therein are in compliance with Applicable Regulations. Such responsibility includes, but is not limited to: (i) using due diligence to learn and activities related on a continuing basis to all Accounts opened by it with NFSknow the essential facts of each Customer, including discretionary Accountsverifying each Customer's identity and address(including any address changes), will be knowing all persons holding power of attorney over any Account, verifying the source of funds credited to each Account and being familiar with each order in material compliance any Account, and at all times to fully comply with all applicable laws, rules the requirements of NYSE Rule 405 and regulations the 2300 Series of the United States, the several states, governmental agencies, securities exchanges, and FINRA, including any laws relating to Correspondent’s fiduciary responsibilities to Customers, if any, either under the Employee Retirement Income Security Act of 1974 NASD Conduct Rules or otherwise. Without limiting the foregoing obligations of Correspondent, Correspondent shall be responsible for: (1) determining the suitability of all investments, investment strategies and transactions, including option transactions to the extent required by applicable laws, rules, and regulations, (2) ensuring that there is a reasonable basis for any recommendations made by Correspondent to Customers to the extent required by applicable laws, rules, and regulations, (3) assessing the appropriateness of the frequency of trading in Accounts to the extent required by applicable laws, rules, and regulations, (4) providing all required documents and other disclosures to Customers pertaining to functions or responsibilities under this Agreement (with the exception of the notice to customers provided by NFS pursuant to Section XVII of this Agreement), including but not limited to the Options Clearing Corporation disclosure document, the Premiere Select IXX Custodial Agreement and Disclosure Statement and/or Premiere Select Rxxx XXX Custodial Agreement and Disclosure Statement (where required), and (5) complying with the applicable sales practice, disclosure and other comparable requirements of Section 15(g) of the Exchange Act and the rules thereunder. In addition to the terms herein, Correspondent shall be responsible for ensuring that mutual fund transactions initiated by the Correspondent shall comply with any other Applicable Laws and Regulations, the terms of any applicable prospectus or other governing documents, and the policy and procedures of NFS and the mutual fund or its service providers, including but not limited to matters relating to break point price eligibility, market timing, excessive or disruptive trading and trade cut-off times and related transaction pricing. Correspondent shall diligently supervise the activities of its officers, employees and representatives with respect to such Accounts. Correspondent shall be responsible for: ; (1ii) selecting, investigating, training, and supervising all of its personnel of the Correspondent who open, approve, authorize or authorize Accounts and otherwise handle transactions in the Accounts, ; (2iii) establishing written procedures for reviewing activity in the conduct of the Accounts and ongoing review of all transactions in Accounts, and maintaining compliance and supervisory personnel adequate to implement such procedures; (iv) handling of any discretionary accounts and the furnishing of any investment advice to any customer, and including determining the suitability for each Customer of all transactions, including option transactions; (3v) ensuring that there is a reasonable basis for all recommendations made to Customers; (vi) determining the appropriateness of the frequency of trading in Accounts; (vii) determining the authorization, legality and compliance with the Applicable Regulations of each instruction given to NFS with respect to any Customer transaction in the Account and reasonably ensuring that no transaction or Account is being used as a conduit for money laundering or other illicit purposes; (viii) handling any accounts for employees or officer of any broker-dealer, SRO or other financial institution, including but not limited to compliance with NASD Conduct Rule 3050 and NYSE Rule 407; and (ix) obtaining and maintaining all documents necessary for the acquisition, disposition or transfer performance of funds or securities shall be properly authorized by such Customer or Account. NFS reserves the right to reject any instruction unless such instruction is accompanied by such documentation as NFS reasonably deems appropriate. NFS shall diligently supervise the activities of its officers, employees and representatives with respect to the functions and Broker's responsibilities allocated to NFS under this Agreement. NFS shall maintain written supervisory procedures with respect to the functions and responsibilities allocated to NFS under this Agreement and retaining such documents in accordance with all Applicable Regulations. Broker agrees to the extent required by applicable law, rule or regulationobtain from Customer such additional information as BNYCS may require to comply with Applicable Regulations.

Supervision of Orders and Accounts. As between NFS and Correspondent, Correspondent will be Broker is responsible for reviewingthe conduct of the Accounts, monitoring and supervising transactions, investments and other activity by every Customer and Account under this Agreement. Correspondent shall be responsible for ensuring that the transactions conducted therein are in compliance with Applicable Regulations. Such responsibility includes, but is not limited to: (i) all transactions in “know your customer” requirements and activities related using due diligence to all Accounts opened by it with NFSlearn and on a continuing basis to know the essential facts of each Customer, including discretionary Accountsverifying each Customer’s identity and address (including any address changes), will be knowing all persons holding power of attorney over any Account, verifying the source of funds credited to each Account and being familiar with each order in material compliance any Account, and at all times to fully comply with all applicable laws, rules the requirements of NYSE Rule 405 and regulations the 2300 Series of the United States, the several states, governmental agencies, securities exchanges, and FINRA, including any laws relating to Correspondent’s fiduciary responsibilities to Customers, if any, either under the Employee Retirement Income Security Act of 1974 FINRA Conduct Rules or otherwise. Without limiting the foregoing obligations of Correspondent, Correspondent shall be responsible for: (1) determining the suitability of all investments, investment strategies and transactions, including option transactions to the extent required by applicable laws, rules, and regulations, (2) ensuring that there is a reasonable basis for any recommendations made by Correspondent to Customers to the extent required by applicable laws, rules, and regulations, (3) assessing the appropriateness of the frequency of trading in Accounts to the extent required by applicable laws, rules, and regulations, (4) providing all required documents and other disclosures to Customers pertaining to functions or responsibilities under this Agreement (with the exception of the notice to customers provided by NFS pursuant to Section XVII of this Agreement), including but not limited to the Options Clearing Corporation disclosure document, the Premiere Select IXX Custodial Agreement and Disclosure Statement and/or Premiere Select Rxxx XXX Custodial Agreement and Disclosure Statement (where required), and (5) complying with the applicable sales practice, disclosure and other comparable requirements of Section 15(g) of the Exchange Act and the rules thereunder. In addition to the terms herein, Correspondent shall be responsible for ensuring that mutual fund transactions initiated by the Correspondent shall comply with any other Applicable Laws and Regulations, the terms of any applicable prospectus or other governing documents, and the policy and procedures of NFS and the mutual fund or its service providers, including but not limited to matters relating to break point price eligibility, market timing, excessive or disruptive trading and trade cut-off times and related transaction pricing. Correspondent shall diligently supervise the activities of its officers, employees and representatives with respect to such Accounts. Correspondent shall be responsible for: ; (1ii) selecting, investigating, training, and supervising all of its personnel of the Correspondent who open, approve, authorize or authorize Accounts and otherwise handle transactions in the Accounts, ; (2iii) establishing written procedures for reviewing activity in the conduct of the Accounts and ongoing review of all transactions in Accounts, and maintaining compliance and supervisory personnel adequate to implement such procedures; (iv) handling of any discretionary accounts and the furnishing of any investment advice to any customer, including determining the suitability for each Customer of all orders and transactions, including option transactions; (3v) ensuring that there is a reasonable basis for all recommendations made to Customers; (vi) determining the appropriateness of the frequency of trading in Accounts; (vii) determining the authorization, legality and compliance with the Applicable Regulations of each instruction given to NFS transaction in the Account; (viii) handling any accounts for employees or officers of any broker-dealer, SRO or other financial institution, including compliance with respect to any Customer or Account including but not limited to FINRA Conduct Rule 3050 and NYSE Rule 407; and (ix) obtaining and maintaining all documents necessary for the acquisition, disposition or transfer performance of funds or securities shall be properly authorized by such Customer or Account. NFS reserves the right to reject any instruction unless such instruction is accompanied by such documentation as NFS reasonably deems appropriate. NFS shall diligently supervise the activities of its officers, employees and representatives with respect to the functions and Broker’s responsibilities allocated to NFS under this Agreement. NFS shall maintain written supervisory procedures with respect to the functions and responsibilities allocated to NFS under this Agreement and retaining such documents in accordance with all Applicable Regulations. Broker agrees to the extent required by applicable law, rule or regulationobtain from any Customer and send to ConvergEx such additional information as ConvergEx may require to comply with Applicable Regulations.

Supervision of Orders and Accounts. As between NFS and Correspondent, Correspondent will be responsible for reviewing, monitoring and supervising transactions, investments and other activity by every Customer and Account under this AgreementAccount. Correspondent shall be responsible for ensuring that all transactions in and activities related to all Accounts opened by it with NFS, including discretionary Accounts, will be in material compliance with all applicable laws, rules and regulations of the United States, the several states, governmental agencies, securities exchanges, and FINRAthe NASD, including any laws relating to Correspondent’s fiduciary responsibilities to Customers, if any, either under the Employee Retirement Income Security Act of 1974 or otherwise. Without limiting the foregoing obligations of Correspondent, Correspondent shall be responsible for: (1i) determining the suitability of all investments, investment strategies and transactions, including option transactions to the extent required by applicable laws, rules, and regulationstransactions, (2ii) ensuring that there is a reasonable basis for any all recommendations made by Correspondent to Customers to the extent required by applicable laws, rules, and regulationsCustomers, (3iii) assessing determining the appropriateness of the frequency of trading in Accounts to the extent required by applicable laws, rules, and regulationsAccounts, (4iv) providing all required documents and other disclosures to Customers pertaining to functions or responsibilities under this Agreement (with the exception of the notice to customers provided by NFS pursuant to Section XVII of this Agreement)Customers, including but not limited to the Options Clearing Corporation disclosure document, the Premiere Select IXX Custodial Agreement and Disclosure Statement and/or Premiere Select Rxxx XXX Custodial Agreement and Disclosure Statement document (where required), and (5v) complying compliance with the applicable sales practice, disclosure and other requirements of Section 15(g) of the Exchange Act and the rules thereunder. In addition to the terms herein, Correspondent shall be responsible for ensuring that mutual fund transactions initiated by the Correspondent shall comply with Applicable Laws and Regulations, the terms of any applicable prospectus or other governing documents, and the policy and procedures of NFS and the mutual fund or its service providers, including but not limited to matters relating to break point price eligibility, market timing, excessive or disruptive trading and trade cut-off times and related transaction pricing. Correspondent shall diligently supervise the activities of its officers, employees and representatives with respect to such Accounts. Correspondent shall be responsible for: (1i) selecting, investigating, training, and supervising all personnel of the Correspondent who open, approve, or authorize Accounts and transactions in the Accounts, (2ii) establishing written procedures for reviewing activity in Accounts and ongoing review of all transactions in Accounts, and maintaining compliance and supervisory personnel adequate to implement such procedures, and (3iii) ensuring that each instruction given to NFS with respect to any Customer or Account including but not limited to the acquisition, disposition or transfer of funds or securities shall be properly authorized by such Customer or Account. NFS reserves the right to reject any instruction unless such instruction is accompanied by such documentation as NFS reasonably deems appropriate. NFS shall diligently supervise the activities of its officers, employees and representatives with respect to the functions and responsibilities allocated to NFS under this Agreement. NFS shall maintain written supervisory procedures with respect to the functions and responsibilities allocated to NFS under this Agreement to the extent required by applicable law, rule or regulation.