PFPC is offering a new service to help mutual fund companies meet the requirements of the customer identification program (CIP) regulations of the USA Patriot Act, which went into effect at the beginning of this month.

The CIP rules help firms verify an investor's identity by requiring a physical mailing address and a Social Security number or other ID. They also require investment firms to reject applications or transactions if proper identification has not been obtained. In addition, PFPC has expanded its Patriot Act compliance team.

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