Regulatory Compliance Statement

Regulatory Compliance Statement

The Regulatory Compliance Statement (RCS) is only relevant to Corporate and Institutional Banking and Commercial Banking client segments.
Should you have any queries, please contact your Relationship Manager.
The RCS is also available in Spanish languages:
Regulatory Compliance Statement (the “Statement”)

The Group needs to use and share client information to operate effectively, including in connection with our provision of products and services to you and for the purposes of client servicing.

We will keep information provided by or relating to you confidential, except that we may disclose such information (i) to any Bank Member; (ii) to any Bank Member’s professional advisor, insurer, insurance broker or provider of services to facilitate the Group’s operations and provision of products and services across multiple countries (such as operational, administrative, data processing and technological service providers) who are under a duty of confidentiality; or (iii) as required by Law or any Authority.

“Affiliate” means, in relation to a company, any of its subsidiaries, holding companies or any other subsidiary of any such holding company and (where applicable) any representative and branch office in any jurisdiction.

“Authority” means, government, quasi-government, administrative, regulatory or supervisory body or authority or court or tribunal having jurisdiction over any Bank Member.

“Bank Member” means AVIS Bank, AVIS Global Energy or any of its Affiliates and “Group” means all Bank Members.

“Law” means any law, regulation, rule, directive, order, request, guideline, sanction, embargo, and restriction of or agreement with any Authority.

To comply with applicable Laws and in the course of providing products and services to you, we will need to collect, hold, use and share the Personal Information of your Data Subjects.

Our Privacy Statement outlines how the Group processes Personal Information. You agree to make your Data Subjects aware of our Privacy Statement.

“Data Subjects” means all individuals whose Personal Information we receive in the course of our banking relationship with you, including your direct and indirect beneficial owners, directors, officers and authorized persons.

“Personal Information” means any information relating to Data Subjects.

The Group is committed to complying with Laws (including applicable financial crime compliance laws and regulations such as those related to anti-money laundering, anti-bribery and corruption) in all jurisdictions in which the Group operates.

As the Group’s ability to comply with Laws is directly linked to the conduct of our clients, we require you to comply with such Laws and conduct your business in a manner which will not place yourself or the Group in breach of such Laws.

If you become aware of any breach, or any action, investigation or proceeding brought against you or your subsidiaries with respect to any breach of any applicable Law in connection with our provision of products and services to you or matter set out in this Statement, you will notify us promptly (unless prohibited by law to do so).

The Group is obliged to comply with sanctions Laws including those of the United States, European Union or any of its member states (“Sanctions”). Any breach of Sanctions may have a serious impact on our reputation, franchise, and regulatory relationships and could impair the Group’s ability to provide products and services to and enter into transactions with clients.

As the Group’s ability to comply with sanctions is directly linked to the conduct of our clients, you confirm and will ensure that (i) you and your subsidiaries are not targets or the subject of Sanctions; and (ii) no product, service, or transaction (or proceeds of the same) involving a Bank Member has or will be utilized for the benefit of any person that is a target or subject of Sanctions or in any manner that would result in you or your subsidiaries or any Bank Member being in breach of any applicable Sanctions or becoming a target or subject of Sanctions. We reserve the right to not provide any product or service or process any transaction if doing, so it may cause us to breach the Group’s Sanctions policy.

The Group has obligations under various tax information reporting Laws (such as the Foreign Account Tax Compliance Act) to collect information from our clients, report information to Authorities and withhold tax from payments to clients in certain circumstances.

We may require you or your Data Subjects to provide documents and information for the purposes of establishing your tax status and that of your Data Subjects. You will promptly inform us of any changes to such documents and information or changes in circumstances that may indicate a change in your tax status or that of your Data Subjects.

If you or your Data Subjects do not provide documents or information when we request it, we may make our own decision about your tax status and treat you accordingly.

We may be required to withhold taxes from payments made to you for onward remittance to applicable Authorities.

From time to time, we may request and obtain information from you and/or third-party or public sources, to determine your regulatory classifications (or that of the funds that you manage) under applicable Laws. These classifications will be notified to you and used by us to comply with our obligations including reporting, business conduct, margin and collateral, and other requirements under applicable Laws.

You will inform us immediately and in any event prior to entering into any transaction with us if any regulatory classification that we have previously notified you of or information (including contact details) that we have about you and/or the funds that you manage is known by you to be inaccurate or incomplete. Unless we receive notification otherwise, you shall be deemed to have (i) confirmed such regulatory classifications and that the information that we have about you and/or the funds that you manage is complete and accurate; and (ii) agreed and consented to the Group reporting your derivative transactions with us to any Authority (including trade repository (ies)).

You agree to (or will procure that your Affiliates and Data Subjects) provide such documents and information as we may reasonably request in relation to matters covered by this Statement. You will promptly inform us of any changes to documents and information provided to us so that they are up-to-date, accurate, and complete.

We are not obliged to do anything or omit to do anything if doing, so would or might cause us to breach any applicable Law.

We may suspend a transaction or service or terminate a transaction, service or our relationship with you if (i) you breach any applicable Law or any matter set out in this Statement or (ii) by executing the transaction, providing the service or continuing our relationship with you, it will cause us to breach any applicable Law.

This Statement shall form part of any specific legal documentation governing a product, service, or transaction that you have or may enter into with us (“Product Documents”).

The relevant terms of such Product Documents will prevail to the extent they are in addition to or inconsistent with this Statement.

We reserve the right to amend this Statement from time to time and will make such updates available to you including, without limitation, by way of letter, email or on our website. These updates shall apply to our relationship going forward and automatically.