5. Other Relevant Matters

Anti-money Laundering Rules

Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Patriot Act) was adopted in response to the 11 September 2001 terrorist attacks. Pursuant to the Patriot Act, the Treasury Department issued rules regarding the filing of suspicious activity reports and rules setting minimum standards for financial institutions to identify and verify the identity of customers. Financial institutions have had to establish due diligence policies, procedures and controls reasonably designed to detect and report instances of money laundering.


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