Purpose, scope and responsibility
Metain and its subsidiaries/affiliates (Company) are subject to various anti-money laundering (AML) laws and regulations relevant to the specific business and jurisdiction where the business operates. This policy recognizes the need for awareness by the Company and its subsidiaries/affiliates to comply with such laws and regulations, as applicable, including customer identification and Know Your Customer (KYC) policies and procedures.
This policy applies to all employees, including those of wholly and majority-owned entities of Metain. Subsidiaries, affiliates, and business units may adopt AML policies specifying additional AML compliance requirements and procedures in accordance with applicable laws of the locations where each does business or is located.
Metain established this AML policy as part of its Corporate Ethics and Compliance Program to help detect transactions that may involve money laundering, terrorist financing, or other illicit activity, and to provide resources for reporting applicable situations as required by applicable law. This policy also helps ensure we satisfy all legal and regulatory requirements and maintain ethical business practices.
The companies of Metain are subject to various AML laws and regulations depending on the nature of the business and the country in which such company is domiciled or conducting business.
Entities of Metain outside the U.S. must comply with all requirements of the laws and regulations of relevant jurisdictions applicable to their business, including applicable U.S. laws. This policy, while illustrating AML issues and requirements of general application to the financial services industry, focuses on summarizing AML requirements under U.S. law.
The CCO of Metain monitors and supports compliance with the policy and regularly reports to senior management, including the Audit Committee of the Board of Directors.
U.S. Anti-Money Laundering Program Requirements
The Bank Secrecy Act was modified by the USA PATRIOT Act, on Oct. 26, 2001, expanding the scope of federal law regarding requirements imposed on financial institutions to facilitate the prevention, detection, and prosecution of international money laundering and the financing of terrorism (collectively the “BSA”).
The BSA, requires U.S. financial institutions such as banks, securities broker-dealers, mutual funds, insurance companies, and other financial services businesses to establish formal AML programs. Subject to conforming to industry specific regulations, these AML programs are generally required to address the following:
Suspicious Activity Reporting/Company Contacts
Employees and company representatives should report any suspicious transaction to their leader or as directed in their applicable AML procedures. Leaders will coordinate suspicious transaction information with designated AML compliance contacts. If in the U.S., they’ll also involve the CECI team to determine appropriate actions and file reports when applicable.
For entities outside the U.S., leaders should coordinate suspicious transactions information with their designated compliance contact.
All employees and Company representatives are responsible for knowing and following all applicable AML, OFAC, and jurisdiction specific policies and procedures. They should: