Reliance Agreement: Definition, Terms, Example
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What is a Reliance Agreement?
A reliance agreement, sometimes called an Institutional Review Board (IRB) authorization, is a legal agreement in which two or more institutions who are collaborating on research agree that one IRB become the IRB of record. Reliance agreements, or “ceding review” allows researchers to maintain regulatory compliance while investigators avoid duplicate IRB review. Reliance agreements can be drafted for just one individual research project or customized for multiple projects. Reliance agreements are extremely specific depending on the institutions and research involved. These agreements will vary based on protocol and level of review that the institution must undergo. Some projects may be exempt from reliance agreements.
Common Sections in Reliance Agreements
Below is a list of common sections included in Reliance Agreements. These sections are linked to the below sample agreement for you to explore.
Reliance Agreement Sample
Exhibit (h)(7)
RELIANCE AGREEMENT FOR EXCHANGE PRIVILEGES
(Anti-Money Laundering and Customer Identification Program)
AGREEMENT, entered into this 30th day of June, 2009 by and among NATIXIS FUNDS TRUST I, NATIXIS FUNDS TRUST II, NATIXIS FUNDS TRUST IV, NATIXIS CASH MANAGEMENT TRUST, GATEWAY TRUST, HANSBERGER INTERNATIONAL SERIES (collectively “Natixis Funds Trusts”) and LOOMIS SAYLES FUNDS I, LOOMIS SAYLES FUNDS II (collectively “Loomis Funds Trusts” and together with Natixis Funds Trusts, the “Funds”, individually, each a “Fund”).
WHEREAS, each of the Natixis Funds Trusts, and each of the Loomis Funds Trusts are separate legal entities registered under the Investment Company Act of 1940 (“1940 Act”);
WHEREAS, the Funds are authorized to issue shares in separate series, with each such series representing interests in a separate portfolio of securities and other assets (each such series, together with all other series subsequently established by the Funds and, being hereinafter referred to as a “Portfolio,” and collectively as the “Portfolios” as set forth in Schedule A attached hereto);
WHEREAS, the Funds have adopted and implemented policies and procedures to comply with applicable rules and regulations of the Securities and Exchange Commission, the Department of Treasury or any other governmental agency regarding anti-money laundering (“AML”) and establishment of a customer identification program (“CIP”);
WHEREAS, the Funds have implemented exchange privileges among the Portfolios for the benefit of shareholders as set forth in the Funds’ prospectuses (“Exchange Privileges”); and
WHEREAS, the Funds, on behalf of the Portfolios, desire to memorialize their understanding in light of the Exchange Privileges among separate legal entities registered under the 1940 Act for furtherance of compliance with AML and CIP rules and regulations;
NOW THEREFORE, in consideration of the foregoing and the mutual covenants and agreements hereinafter contained, the parties hereby agree to amend the Agreements, pursuant to the terms thereof, as follows:
1. Definitions. As used in this Agreement, the following terms have the following meanings:
(A) “From Fund” means any existing Fund, or Portfolio thereof, from which a shareholder transfers or exchanges assets out of any account thereto, pursuant to the Exchange Privileges;
(B) “To Fund” means any new Fund, or Portfolio thereof, to which a shareholder transfers or exchanges assets to any account thereto, pursuant to the Exchange Privileges.
2. Reliance by To Fund on From Fund. On and after July 1, 2009, upon a shareholder using the Exchange Privileges, the To Fund shall be entitled to rely upon the From Fund’s performance of requirements and obligations under AML and CIP in order to satisfy To Fund’s own requirements and obligations of AML and CIP. Each Fund hereby agrees that it will provide to each other Fund at least annually a certification to the effect that it has implemented the Funds’ AML program and will perform the requirements of the Funds’ CIP. Such certification may take the form of a global certificate applicable to each Fund or such other form as the Funds’ AML officer may determine.
3. Miscellaneous. This Agreement may be executed in any number of counterparts, each of which shall be considered an original, but all of which shall together constitute one and the same instrument. All section headings in this Agreement are solely for convenience of reference, and do not affect the meaning or interpretation of this Agreement. A copy of each Fund’s Declaration of Trust is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of each Fund as Trustees and not individually and that the obligations of this instrument are not binding upon any of the Trustees or Shareholders individually, but are binding only upon the assets and property of the Fund.
IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed in its name and on its behalf by its duly authorized representative as of the date first above written.
NATIXIS FUNDS TRUST I
NATIXIS FUNDS TRUST II
NATIXIS FUNDS TRUST IV
NATIXIS CASH MANAGEMENT TRUST
LOOMIS SAYLES FUNDS II
GATEWAY TRUST
HANSBERGER INTERNATIONAL SERIES
| By: | /s/ David Giunta | |
| Name: | David Giunta | |
| Title: | President | |
| LOOMIS SAYLES FUNDS I | ||
| By: | /s/ David Giunta | |
| Name: | David Giunta | |
| Title: | Executive Vice President | |
2
Schedule A*
Natixis Funds Trusts
| Natixis Funds Trust I |
| CGM Advisor Targeted Equity Fund |
| Hansberger International Fund |
| Loomis Sayles Core Plus Bond Fund |
| Natixis Income Diversified Portfolio |
| Natixis U.S. Diversified Portfolio |
| Vaughan Nelson Small Cap Value Fund |
| Natixis Funds Trust II |
| Harris Associates Large Cap Value Fund |
| Delafield Select Fund |
| ASG Global Alternatives Fund |
| Vaughan Nelson Value Opportunity Fund |
| Natixis Funds Trust IV |
| AEW Real Estate Fund |
| Natixis Cash Management Trust |
| Natixis Cash Management Trust – Money Market Series |
| Gateway Trust |
| Gateway Fund |
| Hansberger International Series |
| Emerging Markets Fund |
| International Core Fund |
| International Growth Fund |
| International Value Fund |
| All Countries Fund |
3
Loomis Funds Trusts
| Loomis Sayles Funds I |
| Loomis Sayles Bond Fund |
| Loomis Sayles Fixed Income Fund |
| Loomis Sayles Global Bond Fund |
| Loomis Sayles High Income Opportunities Fund |
| Loomis Sayles Inflation Protected Securities Fund |
| Loomis Sayles Institutional High Income Fund |
| Loomis Sayles Intermediate Duration Fixed Income Fund |
| Loomis Sayles Investment Grade Fixed Income Fund |
| Loomis Sayles Securitized Asset Fund |
| Loomis Sayles Small Cap Value Fund |
| Loomis Sayles Funds II |
| Loomis Sayles Global Markets Fund |
| Loomis Sayles Growth Fund |
| Loomis Sayles High Income Fund |
| Loomis Sayles International Bond Fund |
| Loomis Sayles Investment Grade Bond Fund |
| Loomis Sayles Limited Term Government and Agency Fund |
| Loomis Sayles Mid Cap Growth Fund |
| Loomis Sayles Research Fund |
| Loomis Sayles Small Cap Growth Fund |
| Loomis Sayles Strategic Income Fund |
| Loomis Sayles Value Fund |
| * | This Schedule A will be deemed to automatically include, without any need of amending, all present and future Funds and Portfolios distributed from time to time by Natixis Distributors, L.P., or any affiliate thereof, which may adopt Exchange Privileges. |
4
Reference:
Security Exchange Commission - Edgar Database, EX-99.(H)(7) 6 dex99h7.htm RELIANCE AGREEMENT, Viewed November 11, 2021, View Source on SEC.
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Connie Chadwick presently focuses her law practice in Tennessee on flat fee legal services which commonly include family court settlements such as divorces, child support orders, custody agreements; contracts; business formation services; and estate plans. Connie is also a Tennessee licensed residential general contractor with over fifteen years of experience in the construction field. With both legal and construction experience, Connie is a logical choice for contractor disputes. Connie earned her Doctorate of Jurisprudence from The Nashville School of Law after earning her Bachelor of Science in Accounting and Finance from Lipscomb University. www.conniechadwicklaw.com Connie Chadwick is recognized by peers and was selected to SuperLawyers Rising Stars for 2017 - 2023. This selection is based off of an evaluation of 12 indicators including peer recognition and professional achievement in legal practice. Being selected to Rising Stars is limited to a small number of attorneys in each state. As one of the few attorneys to garner the distinction of Rising Stars, Connie Chadwick has earned the respect of peers as one of the top-rated attorneys in the nation.
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David W.
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Education Jim Schroeder holds multiple degrees from several institutions. He received his Juris Doctor from Rutgers School of Law in Camden New Jersey. He also earned two additional Master’s Degrees from Asbury Theological Seminary in Wilmore, Kentucky and United Theological Seminary in Dayton, Ohio. In addition, Schroeder has done graduate work in Public Sector Labor Relations and American History at Rutgers University and Nonprofit Leadership at Duke University. Jim Schroeder was admitted to the New Jersey Bar Association in 2008; the District of Columbia Bar Association in 2010; the New York State Bar Association in 2014; and the Ohio Bar Association in 2020. He is also admitted to the Federal Courts of Southern New Jersey and Southern Ohio.
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