Anti-Money Laundering Agreement
Policy Statement
It is the policy of MEA to prohibit and actively prevent money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities.
Money laundering is generally defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the unlawful proceeds appear to have been derived from legitimate origins or constitute legitimate assets. Generally, money laundering occurs in three (3) states. Cash first enters the financial system at the "placement" stage, where the cash generated from criminal activities is converted into monetary instruments, such as money orders or traveler's checks, or deposited into accounts at financial institutions. At the "layer" stage, the funds are transferred or moved into other accounts or other financial institutions to further separate the money from its criminal origin. At the "integration" stage, the funds are reintroduced into the economy and used to purchase legitimate assets or to fund other criminal activities or legitimate businesses. Terrorist financing may not involve the proceeds of criminal conduct, but rather an attempt to conceal the origin or intended us of the funds, which will later be used for criminal purposes.
Goals of Mitchell Energy Advisors, LLC's AML Program
The anti-money laundering program of MEA will:
Establish and implement policies and procedures that can reasonably detect and cause the reporting of transactions as required by the rules and regulations listed below;
Establish and implement policies, procedures and internal controls reasonably designed to achieve compliance with the Bank Secrecy Act;
Provide for independent testing for compliance to be conducted by Company personnel or qualified outside parties;
Designate an individual responsible for implementing and monitoring the day-to-day operations and internal controls of the program; and Provide ongoing training for personnel.
Customer Identification Program Notice
Important Information about Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you:
When you open account, we will ask for your name, address, date of birth and identification number. The identification for a U.S. citizen would be a taxpayer identification number. For a non- U.S. citizen the identification number would include the taxpayer identification number, passport number, and country of issuance, alien identification number, or government-issued identification showing nationality, residence, and a photograph of you. We may also ask to see your driver's license or other identifying documents.
A corporation, partnership, trust or other legal entity may need to provide other information, such as its principal place of business, local office, employer identification number, certified articles of incorporation, government-issued business license, a partnership agreement or a trust agreement.
Should you have any questions please contact Michael Mitchell at 469-916-7480.; via facsimile at 469-916-7489.; via e-mail at mmitchell@mitchellenergypartners.com; and in person or via mail at 7515 Greenville Avenue, Suite 905, Dallas, Texas 75231.