[16607]
October 2, 2003
TO: OPERATIONS COMMITTEE No. 20-03
TRANSFER AGENT ADVISORY COMMITTEE No. 93-03
RE: 2003 CUSTOMER IDENTIFICATION PROGRAM SURVEY
The Transfer Agent Advisory Committee established a task force, chaired by Charles
Hawkins of PNC Financial Services Group, which developed the 2003 Customer Identification
Program (CIP) Survey. This survey is designed to gather information regarding mutual fund
transfer agents’ Customer Identification Program practices and procedures to comply with the
final rules under Section 326 of the USA PATRIOT Act. The survey is organized to collect data
from respondents with respect to risk assessment, notice, information receipt and identity
verification, failure to verify customer identification, government lists, administration, and
recordkeeping processes and procedures.
We are requesting that both Operations Committee and Transfer Agent Advisory
Committee member complexes complete the 2003 CIP Survey in order to obtain responses from
a broad cross-section of the industry. Operations Committee and Transfer Agent Advisory
Committee members at the same complex should coordinate their responses and complete only
one online survey response for your organization. Members are encouraged to solicit input
from their anti-money laundering compliance areas, as well as their representatives that
participate on the ICI’s Money Laundering Rules Working Group.
This is a web-only survey. Survey participants may access the survey using their user
name and password for the ICI members website. If you currently do not have access to the
member site, please contact Lee Butler by email or phone (both noted below). The CIP survey
is located at http://operations.ici.org/survey/cip.jsp. This online survey is designed to be
completed using Microsoft Internet Explorer. A blank survey document (printable PDF version)
is available online for reference purposes only. Response options for some multiple-choice
questions are not listed on the printable version. However, all response options may be viewed
when accessing the actual web survey online. Please submit your completed Customer
Identification Program Survey response online to the Institute no later than October 24, 2003.
When you have finished the survey, you will be able to print out a complete copy of your
responses.
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If you have any questions regarding the survey, please direct your inquiries to the
following Institute staff:
Technical Issues (web entry of the survey) – Lee Butler at lbutler@ici.org or 202-326-
5931.
Survey Content Issues – Kathy Joaquin at kjoaquin@ici.org or 202-326-5930.
As with all ICI surveys, this survey solicits data from members for informational
purposes only. Data collected from each individual firm will remain confidential and only
aggregate survey results will be reported to members. Each member should independently
review and utilize such aggregated data, as it deems appropriate.
We encourage all Operations Committee and Transfer Agent Advisory Committee
members to complete the Customer Identification Program Survey. The aggregate survey
results will be shared with ICI committees and working group members and discussed at future
meetings.
Kathleen C. Joaquin
Director – Transfer Agency
& International Operations