Common use of Suspicious Activity Monitoring and Services Clause in Contracts

Suspicious Activity Monitoring and Services. BNYM will maintain and implement procedures reasonably designed to assist the Fund in complying with rules promulgated by FinCEN under the Bank Secrecy Act (31. C.F.R § 1024.320) with respect to the monitoring for suspicious activity that may occur in connection with the Fund and its shareholders during BNYM's performance of transaction processing and recordkeeping services hereunder and if in the course of such monitoring it determines that any of such activities could indicate the existence of suspicious activity and that an investigation of the potential suspicious activity is warranted, then BNYM will deliver a suspicious activity referral to the Fund in a timely manner, with "timely" for purposes of this Section 7 meaning within a commercially reasonable period following BNYM's detection of the events and circumstances reasonably suspected to be suspicious activity and BNYM's investigation of such events and circumstances, utilizing reasonably designed detection and investigative procedures. BNYM as agent for the Fund shall: (A) use reasonable efforts to determine in coordination with the Fund's AML Compliance Officer when a suspicious activity report ("SAR") should be filed as required by regulations applicable to the Fund, (B) prepare and file the SAR and, maintain documents supporting the SAR, (C) if appropriate under regulatory guidance and procedures, file a Joint SAR, and (D) provide the Fund with a copy of the SAR and supporting documentation within a reasonable time after filing. Although BNYM may file a joint SAR for the Fund and other financial institutions, BNYM shall do so solely as agent for the Fund and not as agent for any other financial institution. To the extent permitted by applicable law or regulation, BNYM may share information related to the services under this Section 7 with its supervising parent entities and financial institutions subject to a joint SAR filing.