Exhibit (h)(iii)
ANTI-MONEY LAUNDERING AND PRIVACY AMENDMENT
This ANTI-MONEY LAUNDERING AND PRIVACY AMENDMENT (this "AMENDMENT") amends
as of the 24th day of July, 2002 (the "EFFECTIVE DATE"), the TRANSFER AGENT
SERVICES AGREEMENT, dated as of July 25, 1996, between Trainer Xxxxxxx Funds
(the "COMPANY" or the "FUND") and PFPC Inc. ("PFPC") (the "AGREEMENT").
For valuable consideration the receipt and sufficiency of which the
parties hereto hereby acknowledge, the Company and PFPC hereby agree that, as of
the Effective Date, the Agreement shall (without any further action by either of
the parities hereto) be amended as follows:
1. PRIVACY. As of the Effective Date, the Agreement is amended by adding the
following new provision:
"Privacy. Each party hereto acknowledges and agrees that, subject to the
reuse and re-disclosure provisions of Xxxxxxxxxx X-X, 00 XXX Part 248.11,
it shall not disclose the non-public personal information of investors in
the Fund obtained under this agreement, except as necessary to carry out
the services set forth in this agreement or as otherwise permitted by law
or regulation."
2. ANTI-MONEY LAUNDERING. As of the Effective Date, the Agreement is amended
by adding the following new provision:
"Anti-Money Laundering. To the extent the other provisions of this
agreement require PFPC to establish, maintain and monitor accounts of
investors in the Fund consistent with securities laws, PFPC shall perform
reasonable actions necessary to help the Fund be in compliance with
Section 352 of the USA PATRIOT Act, as follows: In this regard, PFPC
shall: (a) establish and implement written internal policies, procedures
and controls reasonably designed to help prevent the Fund from being used
to launder money or finance terrorist activities; (b) provide for
independent testing, by an employee who is not responsible for the
operation of PFPC's AML program or by an outside party, for compliance
with PFPC's established policies and procedures; (c) designate a person or
persons responsible for implementing and monitoring the operation and
internal controls of PFPC's AML program; and (d) provide ongoing training
of PFPC personnel relating to the prevention of money-laundering
activities. Upon the reasonable request of the Fund, PFPC shall provide to
the Fund: (x) a copy of PFPC's written AML policies and procedures (it
being understood such information is to be considered confidential and
treated as such and afforded all protections provided to confidential
information under this agreement); (y) at the option of PFPC, a copy of a
written assessment or report prepared by the party performing the
independent testing for compliance, or a summary thereof, or a
certification that the findings of the independent party are satisfactory;
and (z) a summary of the AML training provided for appropriate personnel.
PFPC agrees to permit inspections relating to its AML program by U.S.
Federal departments or regulatory agencies with appropriate jurisdiction
and to make available to examiners from such departments or regulatory
agencies such information and records relating to its AML program as such
examiners shall reasonably request. Without limiting or expanding the
foregoing, the parties agree the provisions herein do not apply to Section
326 of the USA PATRIOT Act (or other sections other than Section 352) or
regulations promulgated thereunder."
3. GENERAL. This Amendment contains the entire understanding between the
parties with respect to the services contemplated hereby. Except as expressly
set forth herein, the Agreement shall remain unaffected hereby.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers, as of the day and year first above
written.
TARINER XXXXXXX FUNDS
By: /s/ Xxxxxx Xxxxxxxx-Xxxxx
Name: Xxxxxx Xxxxxxxx-Xxxxx
Title: President/CEO
PFPC INC.
By: /s/ Xxxxx X. Xxxxxx
Name: Xxxxx X. Xxxxxx
Title: Vice President and Director
