Independence Requirement. The audit may be performed by trained members of a Service Provider's audit department who are independent of the personnel working in the areas that are exposed to potential issues related to money laundering activities, or by an independent third party. The audit personnel must be knowledgeable regarding the requirements of the Act, the BSA and money laundering activities.
Appears in 38 contracts
Samples: Shareholder Servicing Agreement (Waddell & Reed Advisors Select Funds Inc), Underwriting Agreement (Waddell & Reed Advisors Select Funds Inc), Principal Underwriting Agreement (Waddell & Reed Advisors New Concepts Fund Inc)
Independence Requirement. The audit may be performed by trained members of a Service Provider's ’s audit department who are independent of the personnel working in the areas that are exposed to potential issues related to money laundering activities, or by an independent third party. The audit personnel must be knowledgeable regarding the requirements of the Act, the BSA and money laundering activities.
Appears in 2 contracts
Samples: Underwriting Agreement (Ivy Funds Variable Insurance Portfolios), Underwriting Agreement (Invested Portfolios)
