Collateral for Loaned Securities. Pursuant to the Agreement, in exchange for the Loaned Securities, SP will pledge to you in an account either cash collateral or U.S. Treasuries, as permitted under Rule 15c3‐3(b)(3)(iii)(B) of the Securities Exchange Act of 1934 and related SEC guidance. There may be market fluctuation in the value of the U.S. Treasuries posted to you as collateral under the Agreement, which may result in the value of the U.S. Treasuries being insufficient to replace the full value of the Loaned Securities, should SP default. If SP, defaults and the market value of the Loaned Securities increases on the day that SP defaults, the cash collateral provided by SP may be insufficient to fully collateralize the Loaned Securities. If you are a U.S. taxpayer, cash payments in lieu of dividends will not be afforded the same treatment as qualified dividends for tax purposes and are likely to be taxed at a higher tax rate instead of the preferential qualified dividend rate. GTN Middle East Financial Services (DIFC) Ltd. Unit 303, Level 3, Liberty House, DIFC, UAE Dear ▇▇▇, DECLARATION FORM We ……….…………………………………………………………………………………………. incorporated/established in ................................................................................................................ having its registered office at ………………………………………...............................................…………... are regulated by/fall under the purview of …………………………………………............................................ ▇▇▇▇▇▇ declare as follows. The securities to be purchased through the Trading Account to be opened by us is for the benefit of our clients who are the ultimate beneficiaries of the securities in our capacity as Custodian/Trustee/Fund Manager/Unit Trust Manager/Foreign Broker/Foreign Dealer. We the Custodian/Trustee/Fund Manager/Unit Trust Management Company/foreign Broker/foreign Dealer, opening the Trading Account for the benefit of the respective beneficiaries, maintain all information pertaining to the ultimate beneficiaries of the account and undertake to promptly release such information, pertaining to the beneficiaries to the GTN ME Ltd. at any time, if required by the respective local exchange or a regulatory body. We the Custodian/Trustee/Fund Manager/Unit Trust Management Company/foreign Broker/foreign Dealer, opening the Trading Account for the benefit of the respective beneficiaries confirm that we have performed comprehensive customer due diligence measures on our clients in accordance with FATF standards and are fully satisfied with same. We confirm that we do not permit the Trading Account to be opened with GTN ME to be used by or for the benefit of any shell financial institution1. The funds to be invested by our clients for the purchase of securities through the Securities Account/Trading Account to be opened with the CDS/ GTN ME. will not be funds derived from any money laundering activity or funds generated through the financing of terrorist or any other illegal activity. We hereby further declare that our clients are persons of good standing with no record of criminal convictions in any other country. Yours faithfully, …………………………. (Place the company seal and signature/s of Director/s as required by the Articles of Association) This ______ day of __________________ 20__. Exhibit 1 – Operational Authorization Exhibit 2 – Indemnity for Honouring Instructions Sent to the Client Via Email, Facsimile (Fax) Or Other Electronic Means Exhibit 3 – GTN Franchise (‘GTNF’) – Additional Terms and Conditions Schedule 1 of Exhibit 3 - Fees and Charges Schedule 2 of Exhibit 3 - Components of GTNF Provided to The Client Schedule 3 of Exhibit 3 – General Points of Contact Between GTNF ME And the Client Schedule 4 Exhibit 3 – Service Level Agreement (SLA) Schedule 5 of Exhibit 3 - Operational Level Agreement (OLA) Exhibit 4 - Stock Lending Program -Risk Disclosures Side Letter 01 - Know Your Customer Declaration
Appears in 1 contract
Sources: Brokerage Services Agreement
Collateral for Loaned Securities. Pursuant to the Agreement, in exchange for the Loaned Securities, SP will pledge to you in an account either cash collateral or U.S. Treasuries, as permitted under Rule 15c3‐3(b)(3)(iii)(B) of the Securities Exchange Act of 1934 and related SEC guidance. There may be market fluctuation in the value of the U.S. Treasuries posted to you as collateral under the Agreement, which may result in the value of the U.S. Treasuries being insufficient to replace the full value of the Loaned Securities, should SP default. If SP, defaults and the market value of the Loaned Securities increases on the day that SP defaults, the cash collateral provided by SP may be insufficient to fully collateralize the Loaned Securities. If you are a U.S. taxpayer, cash payments in lieu of dividends will not be afforded the same treatment as qualified dividends for tax purposes and are likely to be taxed at a higher tax rate instead of the preferential qualified dividend rate. GTN Middle East Asia Financial Services (DIFCPte.) Ltd. Unit 303Ocean Financial Centre, Level 310 Collyer Quay, Liberty House#05-06, DIFC, UAE Singapore (049315) Dear ▇▇▇, DECLARATION FORM We ……….…………………………………………………………………………………………. incorporated/established in ................................................................................................................ having its registered office at ………………………………………...............................................…………... are regulated by/fall under the purview of …………………………………………............................................ ▇▇▇▇▇▇ declare as follows. The securities to be purchased through the Trading Account to be opened by us is for the benefit of our clients who are the ultimate beneficiaries of the securities in our capacity as Custodian/Trustee/Fund Manager/Unit Trust Manager/Foreign foreign Broker/Foreign foreign Dealer. We the Custodian/Trustee/Fund Manager/Unit Trust Management Company/foreign Broker/foreign Dealer, opening the Trading Account for the benefit of the respective beneficiaries, maintain all information pertaining to the ultimate beneficiaries of the account and undertake to promptly release such information, pertaining to the beneficiaries to the GTN ME Asia Financial Services (Pte.) Ltd. at any time, if required by the respective local exchange or a regulatory body. We the Custodian/Trustee/Fund Manager/Unit Trust Management Company/foreign Broker/foreign Dealer, opening the Trading Account for the benefit of the respective beneficiaries confirm that we have performed comprehensive customer due diligence measures on our clients in accordance with FATF standards and are fully satisfied with same. We confirm that we do not permit the Trading Account to be opened with GTN ME Asia Financial Services (Pte.) Ltd. to be used by or for the benefit of any shell financial institution1. The funds to be invested by our clients for the purchase of securities through the Securities Account/Trading Account to be opened with the CDS/ GTN ME. Asia Financial Services (Pte.) Ltd. will not be funds derived from any money laundering activity or funds generated through the financing of terrorist or any other illegal activity. We hereby further declare that our clients are persons of good standing with no record of criminal convictions in any other country. Yours faithfully, …………………………. (Place the company seal and signature/s of Director/s as required by the Articles of Association) This ______ day of __________________ 20__. GTN Asia Financial Services (Pte.) Ltd. (“GTN Asia”) Ocean Financial Centre, 10 Collyer Quay, #05-06, Singapore (049315) Attention: [Insert Name] Dear Sirs, This Side Letter Agreement (“Side Letter”) is entered into between GTN Asia and [Insert Name of Client] (the “ Client”) (collectively, the “Parties”). This Side Letter is in addition to and supplements the [Trading Services Customer Agreement / Brokerages Services Agreement] (the “Agreement”) entered into by the Parties. The Client acknowledges that pursuant to the Agreement, GTN Asia may at its own discretion appoint a third-party custodian in different countries, if GTN ASIA considers such appointment necessary to safeguard the interests of the Client and GTN ASIA. The Client further acknowledges that pursuant to Regulation 27(3) of the Securities and Futures (Licensing and Conduct of Business) Regulations (“SF(LCB)R”), subject to the prior written consent of the Client, GTN Asia may, for the purpose of the safe custody of the Client’s assets denominated in a foreign currency, maintain the custody account with a custodian outside Singapore which is licensed, registered or authorised to act as a custodian in the country or territory where the account is maintained. The Client hereby consents to GTN Asia maintaining a custody account with such third-party custodian outside Singapore. The Client further consents to the statement of accounts (containing the particulars referred to in Regulation 40(2) of the SF(LCB)R) being made available to him by GTN Asia on a real-time basis, in the form of electronic records stored on an electronic facility pursuant to Regulation 40(1A)(b)(i) of the SF(LCB)R. Yours sincerely, ________________________ [Insert Name of Client] Acknowledged and agreed by: For and on behalf of GTN ASIA FINANCIAL SERVICES (PTE.) LTD. ________________________ Name: [Insert Name] Director Exhibit 1 – Operational Authorization Exhibit 2 – Indemnity for Honouring Instructions Sent to the Client Via Email, Facsimile (Fax) Or Other Electronic Means Exhibit 3 – GTN Franchise (‘GTNF’) – Additional Terms and Conditions Schedule 1 of Exhibit 3 - Fees and Charges Schedule 2 of Exhibit 3 - Components of GTNF Provided to The Client Schedule 3 of Exhibit 3 – General Points of Contact Between GTNF ME Asia And the Client Schedule 4 Exhibit 3 – Service Level Agreement (SLA) Schedule 5 of Exhibit 3 - Operational Level Agreement (OLA) Exhibit 4 - Stock Lending Program -Risk Program- Disclosures Side Letter 01 - Know Your Customer DeclarationDeclaration Side Letter 02 - Client’s consent regarding custody account and statement of account
Appears in 1 contract
Sources: Brokerage Services Agreement