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Important: New Broker Account Requirements by
AdultFriendFinder (AFF)
Effective May 27, 2010, Medley.com will be introducing new Know Your Customer ("KYC") requirements for brokers of affiliate accounts.
As part of the registration process, you will need to provide a current copy of your government issued ID (the "ID"). If the broker is a corporate (or similar) entity, it must provide a copy of its organizational documents and the ID of an officer or director. The deadline to submit these documents is June 26, 2010.*
Please send all documents to:
[email protected] and include your Affiliate ID: XXXXXX with the submission.
* Please click here for complete listing of Know Your Customer broker requirements.
Quote:
“Know Your Customer” Broker Account Requirements
1. In order to comply with our Know Your Customer ("KYC") requirements, beginning May 27, 2010, if you are a broker of any affiliate accounts, and in addition to any other information that you provide Medley, e.g., name, address, taxpayer identification number, as part of the registration process, you will need to provide a current copy of your government issued ID (the "ID"). If the broker is a corporate (or similar) entity, it must provide a copy of its organizational documents and the ID of an officer or director. All information provided to Medley is subject to verification for accuracy and completeness prior to any payment being remitted to broker.
DEADLINE: ANY FAILURE TO SUBMIT THE REQUIRED INFORMATION BY JUNE 26, 2010, WILL RESULT IN THE TERMINATION OF ALL EXISTING BROKER ACCOUNT(S) EFFECTIVE AS OF MAY 27, 2010.
2. No party or entity is entitled to or shall receive any Commission or fee for acting as a broker for any affiliate account that he, she or it owns or operates, directly or indirectly. Medley has the sole right to determine such relationship. In making this determination, Medley may consider various factors, some of which could include: (i) the name and location as the affiliate; (ii) the number of affiliate accounts the broker represents; (iii) the traffic source of the broker account and any affiliate accounts; and/or (iv) the date of the creation of the respective broker and affiliate accounts.
3. A person acting as a broker must operate at least one current affiliate account that receives a minimum $50 in Commissions per pay period and have all accounts in good standing. In addition, to remain a broker, at least every three months, broker must provide Medley with at least one new affiliate who also receives a minimum $50 in Commissions per pay period.
4. The following persons or entities are ineligible to receive any commission or fee for acting as a broker: (i) Employees and consultants of Friendfinder Networks, Inc., and its affiliated entities (collectively "FFN"); (ii) Employees consultants, subsidiaries and affiliated companies of any third-party advertising affiliates; (iii) any family members of employees and consultants of FFN or any third-party advertising affiliates; or (iv) any person or entity engaging in fraud or acting in collusion with the parties listed in (i) through (iii) of this section.
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