RBC Dexia defines money laundering as any act or attempt to disguise the source of money or asset derived from criminal activity, and is a criminal offence in all jurisdictions in which RBC Dexia does business. RBC Dexia is committed to preventing the use of its financial services for money-laundering purposes, by establishing policies and processes to ensure that:

• only those whose activities can reasonably be established to be legitimate are accepted as clients,
• staff are trained to recognise and react appropriately to unusual or potential money-laundering activity and understand their legal obligations to report activity and transactions, and
• appropriate records of client information and transactions are retained.

RBC Dexia policy requires that its business units identify reportable activities and transactions in each jurisdiction in which they operate and establish processes to ensure reporting as required. In addition, RBC Dexia business units are required to establish processes to identify and investigate unusual activities and transactions and ensure that all activities and transactions reasonably suspected to be related to money laundering are reported to the designated Anti-Money Laundering Officer.

RBC Dexia business units are required to take reasonable and appropriate measures to establish the identities of their clients and others for whom they may provide financial services, and to open accounts and conduct transactions only after identity is verified to the satisfaction of RBC Dexia.

RBC Dexia requires businesses to document the measures taken to identify clients and retain records of the due diligence measures taken for at least five years after the account in question is closed.

Anti-terrorism and know-your-client policies

In addition, RBC Dexia has developed enterprise-wide policies and procedures regarding compliance with economic sanctions and anti-terrorism legislation, as well as client due diligence policy.

Audit

Internal Audit reviews business units' Anti-money laundering, anti-terrorism, economic sanctions and client due diligence programs for compliance with the relevant policies, procedures and regulations in all relevant audits completed during each audit cycle. In addition, Internal Audit from time to time conducts enterprise-wide audits specific to these areas.

Technological tools

RBC Dexia has available various solutions to assist in complying with the various reporting obligations. In addition, RBC Dexia searches all client databases against various control lists to ensure that RBC Dexia is not doing business with a listed individual or entity.

For further information, please contact:

Kathy Byles Anti-Money Laundering Officer RBC Dexia Investor Services Trust Canada Tel: 416 955 2891 Fax: 416 955 2899 Email: kathy.byles@rbcdexia-is.com

Stéphane Badey Anti-Money Laundering Reporting Officer RBC Dexia Investor Services Bank S.A. Luxembourg Tel: +352 2605 4438 Fax: +352 2460 9500 Email: stephane.badey@rbcdexia-is.net

Or refer to our locations to contact a local representative.