Systematic Daily Screening, Government Lists Including OFAC Sample Clauses

Systematic Daily Screening, Government Lists Including OFAC. On a daily basis, Pershing shall compare all new accounts opened on its systems and all substantial changes made to account data resident on its systems to determine if any such new or changed account may be subject to an OFAC or other designated government list. In addition, Pershing shall compare its existing customer database to added restrictions as may be published by the Federal Government from time to time. Further, periodically Pershing shall compare its existing customer database to the existing OFAC government lists. In the event that Pershing’s comparisons indicate that an account may be subject to an OFAC or government list restriction, Pershing will notify Broker if it believes there is a match. Broker shall cooperate fully with Pershing to determine whether, in fact, the account is subject to any such restriction. Broker will cooperate with Pershing in implementing any such action as may be determined by Pershing to be necessary or appropriate. Broker acknowledges that Pershing may rely on a third-party vendor to provide current OFAC and other government restricted list data, and Pershing shall not be held liable for any errors or omissions caused by such third-party vendor.
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Systematic Daily Screening, Government Lists Including OFAC. On a daily basis, Clearing Agent shall compare all new accounts opened on its systems and all substantial changes made to account data resident on its systems to determine if any such new or changed account may be subject to an OFAC or other designated government list. In addition, Clearing Agent shall compare its existing customer database to added restrictions as may be published by the Federal Government from time to time. Further, Clearing Agent shall periodically compare its existing customer database to the existing OFAC government lists. In the event that Clearing Agent’s comparisons indicate that an account may be subject to an OFAC or government list restriction, Clearing Agent will notify Introducing Firm if it believes there is a match. Introducing Firm shall cooperate fully with Clearing Agent to determine whether, in fact, the account is subject to any such restriction. Introducing Firm will cooperate with Clearing Agent in implementing any such action as may be determined by Clearing Agent to be necessary or appropriate. Introducing Firm acknowledges that Clearing Agent may rely on a third-party vendor to provide current OFAC and other government restricted list data, and Clearing Agent shall not be held liable for any errors or omissions caused by such third-party vendor.
Sample 1
Systematic Daily Screening, Government Lists Including OFAC. On a daily basis, Pershing shall compare all new accounts opened on its systems and all substantial changes made to account data resident on its systems to determine if any such new or changed account may be subject to an OFAC or other designated government list. In addition, Pershing shall compare its existing customer database to added restrictions as may be published by the Federal Government from time to time. Further, periodically
Sample 1
Systematic Daily Screening, Government Lists Including OFAC. Daily, Clearing Agent shall compare all new accounts opened on its systems and all substantial changes made to account data resident on its systems to determine whether any such new or changed account may be subject to an OFAC or other designated government list. In addition, Clearing Agent shall compare its existing customer database to added restrictions as may be published by the U.S. Federal Government from time to time. Further, periodically, Clearing Agent shall compare its existing customer database to the existing OFAC government lists. In the event that Clearing Agent’s comparisons indicate that an account may be subject to an OFAC or government list restriction, Clearing Agent will notify Introducing Firm if it believes there is a match. Introducing Firm shall cooperate fully with Clearing Agent to determine whether, in fact, the account is subject to any such restriction. Introducing Firm will cooperate with Clearing Agent in implementing any such action as may be determined by Clearing Agent to be necessary or appropriate. Introducing Firm acknowledges that Clearing Agent may rely on a third-party vendor to provide current OFAC and other government restricted list data, and Clearing Agent shall not be held liable for any errors or omissions caused by such third-party vendor.
Sample 1

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