REPRESENTATION AND AGREEMENT LETTER
TO: Fidelity Brokerage Services, LLC
National Financial Services, LLC
Fidelity Investments Institutional Brokerage Group
(collectively, "Fidelity" or "you")
FROM: CBNY Investment Services Corp.
("CBNY" or "we")
DATE: August 9, 2001
We are a Broker Dealer and maintain brokerage accounts and custody
assets for our brokerage customers. We have requested that Fidelity open
and maintain brokerage sub-accounts for us (the "Accounts"), registered in
the name of CBNY and identified as being for the benefit of certain of our
international brokerage customers ("CBNY Clients"). In order to induce you
to maintain the Accounts for CBNY and to accept from us or from our
authorized agent various trading and other instructions with respect to the
Accounts, we hereby request, warrant and agree that:
1) we are your brokerage customer with respect to the Accounts;
2) CBNY Clients are our brokerage customers and will not be
regarded as Fidelity's brokerage customers;
3) we are responsible for obtaining and maintaining all
necessary documentation and information relating to CBNY
Clients;
4) we are responsible for making all investment decisions and
suitability determinations with respect to CBNY Clients;
5) CBNY Clients will not have any contact with Fidelity with
respect to the Accounts;
6) we represent that we are and shall continue to be in
compliance with applicable U.S. & foreign laws, rules and
regulations with respect to our broker dealer activities
Our domestic customers will be maintained at Fidelity on a fully
disclosed basis.
CBNY Investment Services, Corp.
By: /s/ Xxxx X. Xxxxxxxx
Name: Xxxx Xxxxxxxx
Title: President
Date: August 9, 2001
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