EXHIBIT (H)(1)(B)
ANTI-MONEY LAUNDERING AND PRIVACY AMENDMENT
This ANTI-MONEY LAUNDERING AND PRIVACY AMENDMENT (this "AMENDMENT")
amends as of the 24th day of July, 2002 (the "EFFECTIVE DATE"), the Transfer
Agency Services Agreement, dated as of January 14, 2000, between Xxxxxxx
Investors Trust (the "COMPANY" or the "FUND") and PFPC Inc. ("PFPC") (the
"AGREEMENT").
For valuable consideration the receipt and sufficiency of which the
parties hereto hereby acknowledge, the Company and PFPC hereby agree that, as of
the Effective Date, the Agreement shall (without any further action by either of
the parities hereto) be amended as follows:
1. PRIVACY. As of the Effective Date, the Agreement is amended by adding the
following new provision:
"PRIVACY. Each party hereto acknowledges and agrees that, subject to
the reuse and re-disclosure provisions of Xxxxxxxxxx X-X, 00 XXX Part
248.11(a), it shall not disclose the non-public personal information of
investors in the Fund obtained under this agreement, except as
necessary to carry out the services set forth in this agreement or as
otherwise permitted by law or regulation."
2. ANTI-MONEY LAUNDERING. As of the Effective Date, the Agreement is amended by
adding the following new provision:
"ANTI-MONEY LAUNDERING. PFPC shall perform reasonable actions necessary
to help the Fund be in compliance with United States Federal anti-money
laundering ("AML") laws applicable to investor activity, including the
Bank Secrecy Act and the PATRIOT Act, as follows: In this regard, PFPC
shall: (a) establish and implement written internal policies,
procedures and controls reasonably designed to detect and help prevent
the Fund from being used to launder money or finance terrorist
activities; (b) provide for independent testing, by an employee who is
not responsible for the operation of PFPC's AML program or by an
outside party, for compliance with PFPC's established AML policies and
procedures; (c) designate a person or persons responsible for
implementing and monitoring the operation and internal controls of
PFPC's AML program; and (d) provide ongoing training of PFPC personnel
relating to the prevention of money-laundering activities. Upon the
reasonable request of the Fund, PFPC shall provide to the Fund: (w) a
copy of PFPC's written AML policies and procedures (it being understood
such information is to be considered confidential and treated as such
and afforded all protections provided to confidential information under
this agreement); (x) at the option of PFPC, a copy of a written
assessment or report prepared by the party performing the independent
testing for compliance, or a summary thereof, or a certification that
the findings of the independent party are satisfactory; and (y) a
summary of the AML training provided for appropriate personnel and (z)
a certificate regarding PFPC's AML program, the name of its designated
compliance officer, a brief description of the audit process, a brief
description of the employee training program and periodic statistical
summary reports of PFPC's AML monitoring on behalf of the Funds. PFPC
agrees to permit inspections relating to its AML program by U.S.
Federal departments or regulatory agencies with appropriate
jurisdiction and to make available to examiners from such departments
or regulatory agencies such information and records relating to its AML
program as such examiners shall reasonably request. The parties
acknowledge the provisions herein do not apply to Section 326 of the
USA PATRIOT Act (or other sections other than Section 352) or
regulations promulgated thereunder.
3. GENERAL. This Amendment supercedes and replaces entirely each other
amendment between the parties hereto with respect to the subject matter hereof
and contains the entire understanding between the parties with respect to the
services contemplated hereby. Except as expressly set forth herein, the
Agreement shall remain unaffected hereby.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers, as of the day and year first above
written.
XXXXXXX INVESTORS TRUST
By: /S/ XXXXX X. XXXXXXXXXX
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Name: Xxxxx X. Xxxxxxxxxx
Title: First Vice President
PFPC INC.
By: /S/ XXXXX X. XXXXXXXXX
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Name: Xxxxx X. Xxxxxxxxx
Title: Vice President
