Exhibit (h)(11)
FORM OF SECTION 312 FOREIGN FINANCIAL INSTITUTION AMENDMENT
This SECTION 312 "FOREIGN FINANCIAL INSTITUTION" SPECIAL DUE DILIGENCE
ANTI-MONEY LAUNDERING AMENDMENT (this "AMENDMENT") amends as of July 5, 2006
(the "EFFECTIVE DATE"), the Transfer Agency and Services Agreement, dated as of
November 8, 2004, between Domini Advisor Trust (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. SECTION 312 "FOREIGN FINANCIAL INSTITUTION" SPECIAL DUE DILIGENCE. As of the
Effective Date, the Agreement is amended by adding the following new provision:
Section 312 Foreign Financial Institution Special Due Diligence. (a) To
help the Fund comply with its requirements to establish and implement a due
diligence program for "foreign financial institution" accounts (which the
Fund is required to have under regulations issued under Section 312 of the
USA PATRIOT Act), PFPC will do the following "Due Diligence Services":
(i) Implement and operate a due diligence program that includes
appropriate, specific, risk-based policies, procedures and controls
that are reasonably designed to enable the Fund to detect and report,
on an ongoing basis, any known or suspected money laundering activity
conducted through or involving any correspondent account established,
maintained, administered or managed by the Fund for a "foreign
financial institution" (as defined in 31 CFR 103.175(h))("Foreign
Financial Institution");
(ii) Conduct due diligence to identify and detect any Foreign
Financial Institution accounts in connection with new accounts and
account maintenance except PFPC will not conduct Due Diligence
Services on NSCC accounts or broker-dealer controlled accounts;
(iii) Assess the money laundering risk presented by such Foreign
Financial Institution account, based on a consideration of all
appropriate relevant factors, (as generally outlined in 31 CFR
103.176), and assign a risk category to each Foreign Financial
Institution account;
(iv) Apply risk-based procedures and controls to each such Foreign
Financial Institution account reasonably designed to detect and report
known or suspected money laundering activity, including a periodic
review of the Foreign Financial Institution account activity
sufficient to determine consistency with information obtained about
the type, purpose and anticipated activity of the account;
(v) Include procedures to be followed in circumstances in which the
appropriate due diligence cannot be performed with respect to a
Foreign Financial Institution account;
(vi) Adopt and operate enhanced due diligence policies, where
necessary, as may be required by future regulations pending for
Foreign Financial Institution accounts;
(vii) Record due diligence program and maintain due diligence records
relating to Foreign Financial Institution accounts;
(viii) Report to the Fund about measures taken under (i)-(vii) above;
(b) Notwithstanding anything to the contrary, and without expanding the
scope of the express language above, PFPC need not complete a due diligence
beyond the requirements of the relevant regulations and PFPC need not
perform any task that need not be performed for the Fund to be in
compliance with relevant regulation.
(c) 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 312) or regulations promulgated
thereunder. This amendment specifically excludes private bank account
provisions of Section 312 of the USA PATRIOT Act.
2. 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.
Domini Social Investments LLC
By: /s/ Xxxxxx Xxxxxx
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Name: Xxxxxx Xxxxxx
Title: President
PFPC INC.
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
Title: Vice President
