Required Authorized Individuals Clause Samples

Required Authorized Individuals. Corporate Directors, Officers, Employees and Agents A. Does your firm qualify as a Covered Financial Institution (CFl), as per the PATRIOT Act definition? ☐ No ☐ Yes (If “yes,” please attach your firm’s standard CFl Letter, also known as an Anti-Money Laundering (AML) Comfort Letter. Schwab may rely on this letter in lieu of verifying the identity and creditworthiness of any Authorized Individuals or Control Persons provided in Sections 4 and 5. If “no complete Sections 4 and 5.) The CFI Letter should be signed by the Compliance Officer or AML Officer and should: • State that the firm is regulated by a “federal functional regulator” and specify which one (e.g., the Securities and Exchange Commission, Options Clearing Corporation, Federal Reserve, etc.) • State that tile firm has a comprehensive AML/Office of Foreign Assets Control (OFAC) program in place • State that the firm is in compliance with all AML/OFAC laws and regulations • List full names of all Authorized Individuals or Control Persons or attach a Corporate Resolution to the CFl Letter B. Please complete this section for each individual director, officer, employee or agent of the Corporation who is authorized by the Corporation to transact business with Schwab in the Risk Account on behalf of the Corporation. ▇. ▇▇▇▇▇▇ will have no obligation of inquiry with respect to the validity of, or authority with respect to, any transaction or instruction provided by an Authorized Individual.