Common use of Effective Internal Controls Clause in Contracts

Effective Internal Controls. The Manager shall provide its relevant SSAE 18 reports to the FRBNY no less than annually. In addition, if requested by the FRBNY, the Manager will provide additional documentary evidence to the FRBNY to support the assertion that the Manager maintains effective internal controls over financial reporting, e.g., relevant internal controls reports, including System and Organization Controls (SOC) and internal compliance assessments, access to policies and procedures governing the Manager’s operations as they relate to the performance of the services (including, without limitation, ethics policies and security policies and procedures); and the BRS Service Organization Report and Global AMS Report of BlackRock or its Affiliates with respect to their respective operations and controls relevant to the performance of the Services. The specific nature of such documentation is to be agreed to by the parties at the time of the request.