LMIS definition
Examples of LMIS in a sentence
Each of the Funds and LMIS has developed and implemented a written anti-money laundering program (the “AML Program”) which is designed to satisfy the Act’s requirements.
In connection with the performance by Transfer Agent of the Delegated Duties, Transfer Agent understands and acknowledges that the Fund and LMIS remain responsible for assuring compliance with the Act and that the records Transfer Agent maintains for the Fund relating to the AML Program may be subject, from time to time, to examination and/or inspection by federal regulators in order that the regulators may evaluate such compliance.
The Fund and LMIS further acknowledge and agree that the Transfer Agent will not be performing the Delegated Duties with respect to any shares for which LMIS acts as distributor or broker-dealer other than shares of the Fund for which the Transfer Agent maintains the applicable shareholder information for the Fund under this Agreement.
In connection with the latter, the Fund and LMIS acknowledge that there are certain types of accounts, e.g., “broker controlled” accounts, whereby Transfer Agent receives shareholder and transactional information through industry mandated or customized transmissions that preclude Transfer Agent from providing part or all of these services.
Additionally, the parties and LMIS acknowledge and agree that Transfer Agent shall only be responsible for performing the Delegated Duties with respect to the ownership of, and transactions in, shares in the Fund for which the Transfer Agent maintains the applicable shareholder information.
Each Fund and LMIS is desirous of having Transfer Agent perform certain delegated duties pursuant to the AML Program and Transfer Agent accepts such delegation.
Transfer Agent will inform the Fund and LMIS of intermediaries or types of accounts for which it may not perform any of the services contemplated in this Section 8.
Transfer Agent shall establish procedures reasonably designed to prevent the opening of new correspondent accounts for foreign financial institutions, as defined in Section 312 of the Act and 31 CFR § 1010.610, in the Fund or at LMIS without first receiving the written (including fax or email) approval of a valid and complete application by the Transfer Agent.
Transfer Agent shall establish procedures reasonably designed to prevent the opening of new correspondent accounts for foreign financial institutions, as defined in Section 312 of the Act and 31 CFR § 103.175, in the Fund or at LMIS without first receiving the written (including fax or email) approval of the Fund’s AML Officer or LMIS’ chief compliance officer, as appropriate.
For avoidance of doubt, the inclusion of the Fund’s distributor, ▇▇▇▇ ▇▇▇▇▇ Investor Services LLC (“LMIS”) under Schedule B, Section 9 of this Agreement does not, and shall not be deemed to, make LMIS a party to this Agreement or a third-party beneficiary hereunder.