Rule 38a-1 Compliance Program Clause Samples
The Rule 38a-1 Compliance Program clause requires investment companies to adopt and implement written policies and procedures designed to prevent violations of federal securities laws. In practice, this means that mutual funds and other registered investment companies must establish a formal compliance program, designate a chief compliance officer, and conduct regular reviews of their procedures. The core function of this clause is to ensure ongoing regulatory compliance and to mitigate the risk of legal or ethical breaches within investment companies.
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Rule 38a-1 Compliance Program. Transfer Agent will maintain written policies and procedures reasonably designed to prevent violations of the Federal Securities Laws, as that term is defined in Rule 38a-1, adopted by the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (“Rule 38a-1”) with respect to the Services. On a quarterly basis, Transfer Agent will provide to Fund a certification certifying compliance with its responsibilities as Transfer Agent to the Funds under Rule 38a-1 or highlighting any material issue potentially impacting Transfer Agents services to the Funds. Upon Fund’s request, Transfer Agent will provide Fund with a summary of its policies and procedures in connection with Fund’s compliance with Rule 38a-1 and will provide such explanations of its policies and procedures as Fund may reasonably request. To the extent Transfer Agent makes any material changes to its written policies and procedures in order to address changing regulatory and industry developments that would impact Fund’s compliance with Rule 38a-1, Transfer Agent will notify Fund of any such changes in a timely manner. At least annually, Transfer Agent will also provide Fund a copy of third party audit reposts evaluating the Services (e.g. SSAE 18s or SOC 1s) and a copy of Transfer Agent’s annual assessment or review of Transfer Agent’s compliance programs.
Rule 38a-1 Compliance Program. Agent will maintain written policies and procedures reasonably designed to prevent violations of the Federal Securities Laws, as that term is defined in Rule 38a-1 ("Rule 38a-1"), adopted by the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the "1940 Act") with respect to the services provided by Agent hereunder. Agent will provide to Fund in connection with any periodic annual or semi-annual stockholder report filed by Fund and, if requested by Fund, in connection with Fund filings on Form N-Q, a sub-certification in a form reasonably requested by Fund, relating to Agent's performance of services hereunder and Agent's related internal controls. In addition, on a quarterly basis, Agent will provide to Fund a certification in connection with Rule 38a-1 in a form reasonably requested by Fund. Upon Fund's request, Agent will provide Fund with a summary of its policies and procedures in connection with Fund's compliance with Rule 38a-1 and will provide such explanations of its policies and procedures as Fund may reasonably request. To the extent Agent makes any material changes to its written policies and procedures in order to address changing regulatory and industry developments that would impact Fund's compliance with Rule 38a-1, it will notify Fund of any such changes in a timely manner.
Rule 38a-1 Compliance Program. Agent will maintain written policies and procedures reasonably designed to prevent violations of the Federal Securities Laws, as that term is defined in Rule 38a-1, adopted by the Securities and Exchange Commission under the Investment Company Act of 1940, as amended ("Rule 38a-1") with respect to the services provided by Agent hereunder. Agent will provide to Client in connection with any periodic annual or semi-annual stockholder report filed by Client and, if requested by Client, in connection with Client filings on Form N-Q, a sub-certification in a form reasonably requested by Client, relating to Agent’s performance of services hereunder and Agent’s related internal controls. In addition, on a quarterly basis, Agent will provide to Client a certification in connection with Rule 38a-1 in a form reasonably requested by Client. Upon Client’s request, Agent will provide Client with a summary of its policies and procedures in connection with Client’s compliance with Rule 38a-1 and will provide such explanations of its policies and procedures as Client may reasonably request. To the extent Agent makes any material changes to its written policies and procedures in order to address changing regulatory and industry developments that would impact Client’s compliance with Rule 38a-1, it will notify Client of any such changes in a timely manner.
Rule 38a-1 Compliance Program. Agent will maintain written policies and procedures reasonably designed to prevent violations of the Federal Securities Laws, as that term is defined in Rule 38a-1, adopted by the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (“Rule 38a-1”) with respect to the Services. On a quarterly basis, Agent will provide to Fund a certification in connection with Rule 38a-1. Upon Fund’s request, Agent will provide Fund with a summary of its policies and procedures in connection with Fund’s compliance with Rule 38a-1 and will provide such explanations of its policies and procedures as Fund may reasonably request. To the extent Agent makes any material changes to its written policies and procedures in order to address changing regulatory and industry developments that would impact Fund’s compliance with Rule 38a-1, Agent will notify Fund of any such changes in a timely manner.
Rule 38a-1 Compliance Program. The Administrator shall apply its own compliance program (the“ Program” with respect to its separate accounts to the ▇▇▇▇ Separate Accounts and the Reinsured Separate Accounts. The Compliance Program shall comply with the requirements of Rule 38a 1 under the 1940 Act applicable to the Administrative Services. The Compliance Program shall include without limitation written policies and procedures reasonably designed to detect and prevent violations of the “federal securities laws” as defined in rule 38a 1(e)(1), a review at least annually of the adequacy of the Compliance Program and the effectiveness of its implementation, and appointment of a chief compliance officer whose responsibilities include preparation of reports of the reviewed separate accounts, including the ▇▇▇▇ Separate Accounts and the Reinsured Separate Accounts, providing the information with respect to the Compliance Program, including the Administrative Services, necessary for the preparation of reports as provided in Rule 38a l(a)(4)(iii) ( 38a 1 Reports” and (b) provides at least the same degree of compliance oversight as provided under the Company’s existing compliance program for the ▇▇▇▇ Separate Accounts and the Reinsured Separate Accounts as such compliance program is communicated to the Administrator. The Administrator shall provide, or cause to be provided, reports to the Company’s Chief Compliance Officer a reasonable time before each Rule 38a 1 Report is due, and shall promptly report to the Company’s Chief Compliance Officer any Material Compliance Matter (within the meaning of Rule 38a 1 under the ▇▇▇▇ ▇▇▇) discovered through the operation of the Compliance Program or otherwise. The Administrator shall provide the Company with reasonable access to its personnel, books and records, and such other certifications and information as the Company may reasonably deem necessary to enable its designated officers to evaluate the effectiveness of the Compliance Program with respect to the ▇▇▇▇ Separate Accounts and the Reinsured Separate Accounts. NYB 621298.28 03340 00004 A-6 SCHEDULE 2.3 CONSENTS UNDER MATERIAL CONTRACTS The Lincoln National Life Insurance Company American Maturity life Insurance Company NYB 621298.28 0334000004 SCHEDULE A-7 DISTRIBUTOR AGREEMENTS NYB 621298.28 03340 00004
Rule 38a-1 Compliance Program. Agent will maintain written policies and procedures reasonably designed to prevent violations of the Federal Securities Laws, as that term is defined in Rule 38a-1, adopted by the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (“Rule 38a-1”) with respect to the Services. On a quarterly basis, Agent will provide to Company a certification certifying compliance with its responsibilities as Agent to the Company under Rule 38a-1 or highlighting any material issue potentially impacting Agent’s services to the Company. Upon Company’s request, Agent will provide Company with a summary of its policies and procedures in connection with Company’s compliance with Rule 38a-1 and will provide such explanations of its policies and procedures as Company may reasonably request. To the extent Agent makes any material changes to its written policies and procedures in order to address changing regulatory and industry developments that would impact Company’s compliance with Rule 38a-1, Agent will notify Company of any such changes in a timely manner. At least annually, Agent will also provide Company a copy of third party audit results evaluating the Services (e.g. SSAE 18 or SOC ls) and a copy of Agent’s annual assessment or review of Agent’s compliance programs.
Rule 38a-1 Compliance Program. The Administrator shall apply its own compliance program (the “Compliance Program”) with respect to the separate accounts to the Lincoln Separate Account. The Compliance Program shall comply with the requirements of Rule 38a 1 under the 1940 Act applicable to the Lincoln Services. The Compliance Program shall include without limitation written policies and procedures reasonably designed to detect and prevent violations of the “federal securities laws” as defined in rule 38a 1(e)(1), a review at least annually of the adequacy of the Compliance Program and the effectiveness of its implementation, and appointment of a chief compliance officer whose responsibilities include preparation of reports of the reviewed separate accounts, including the Lincoln Separate Account providing the information with respect to the Compliance Program including the Lincoln Services necessary for the preparation of reports as provided in Rule 38a 1(a)(4)(iii) (“Rule 38a 1 Reports”) and (b) provides at least the same degree of compliance oversight as provided under the Company’s existing compliance program for the Lincoln Separate Accounts, as such compliance program is communicated to the Administrator. The Administrator shall provide, or cause to be provided, reports to the Company’s Chief Compliance Officer, a reasonable time before each Rule 38a 1 Report is due, and shall promptly report to the Company’s Chief Compliance Officer, any Material Compliance Matter (within the meaning of Rule 38a 1 under the ▇▇▇▇ ▇▇▇) discovered through the operation of the Compliance Program or otherwise. The Administrator shall provide the Company with reasonable access to its personnel, books and records, and such other certifications and information as the Company may reasonably deem necessary to enable its designated officers to evaluate the effectiveness of the Compliance Program with respect to the Lincoln Separate Accounts.
Rule 38a-1 Compliance Program. Agent will maintain written policies and procedures reasonably designed to prevent violations of the “Federal Securities Laws”, as that term is defined in Rule 38a-1, adopted by the U.S. Securities and Exchange Commission under the Investment Company Act of 1940, as amended (“Rule 38a-1”) with respect to the Services. On a quarterly basis, Agent will provide to the Trust a certification of Agent’s compliance with its responsibilities as registered transfer agent under Rule 38a-1, and if applicable, highlighting any material issue potentially impacting the Services. Upon the Trust’s written request, Agent will provide the Trust with a summary of its written policies and procedures in connection with the Trust’s compliance with Rule 38a-1 and will provide such explanations of its written policies and procedures as the Trust may reasonably request. To the extent that Agent makes any material changes to its written policies and procedures in order to address any material regulatory and industry developments that would impact the Trust’s compliance with Rule 38a-1, Agent will notify the Trust of any such changes in a timely manner. At least annually, Agent will also provide the Trust with a copy of third-party audit results evaluating the Services (e.g., SSAE 18s or SOC 1s) and a copy of Agent’s annual assessment or review of Agent’s compliance programs.