EXHIBIT (H)(6)
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
Agency and Services Agreement, dated as of November 15, 1996, between Kobren
Insight 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 United States Federal anti-money laundering ("AML") laws
applicable to investor activity, including the Bank Secrecy Act and
the 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."
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.
KOBREN INSIGHT FUNDS
By: /s/ Xxxx Xxxxx
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Name: Xxxx Xxxxx
Title: Vice President
PFPC INC.
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
Title: Sr. V.P./Mng. Director
