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Disclosures

General Disclosure

Siebert Williams Shank & Co., LLC (“SWS”) is a registered broker-dealer and a member of the Financial Industry Regulatory Authority (FINRA), the Municipal Securities Rulemaking Board (MSRB) and the Securities Investor Protection Corporation (SIPC).

SWS prepared this website for informational purposes only. This website and the information herein (collectively “Information”) are not a research report and it should not be construed as such. The Information has been gathered from sources believed to be reliable, but is not guaranteed and is not a complete summary of all available data. Any historical price(s) or value(s) are also only as of the date indicated and from any source that may be noted. SWS is under no obligation to update opinions or other information. Any opinions expressed by SWS represent our present opinions as of the date of this Information and are subject to change without further notice. The Information, including proposed terms and conditions, are indicative and for discussion purposes only. Finalized terms and conditions of any transaction or engagement are subject to further discussion and negotiation and will be evidenced by a formal agreement.

Any reproduction, redistribution or transmission of the Information, in whole or in part, without the prior written permission of SWS is prohibited. Except as required to comply with applicable law or regulation, SWS makes no warranty whatsoever (including but not limited to, warranties as to quality, accuracy, performance, timeliness, continued availability or completeness) as to the Information contained herein.

The Information contained is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. SWS does not provide accounting, tax or legal advice; however, you should be aware that any proposed indicative transaction could have accounting, tax, legal or other implications that should be discussed with your advisors and/or counsel. The Information should not be relied upon for the maintenance of your books and records or for any tax, accounting, legal or other purposes.

The fact that SWS has made the Information or other information available to you constitutes neither a recommendation that you enter into or maintain a particular transaction or position nor a representation that any transaction is suitable or appropriate for you.

SWS shall have no liability, contingent or otherwise, to you or to any third parties, or any responsibility whatsoever, for the correctness, quality, accuracy, timeliness, pricing, reliability, performance or completeness of the Information, data or formulae provided herein or for any other aspect of the Information. In no event will SWS be liable for any damages (including special, indirect, incidental or consequential damages) which may be incurred or experienced on account of your use of the information provided herein or this website, even if SWS has been advised of the possibility of such damages. SWS will have no responsibility to inform you of any difficulties experienced by SWS or any third parties with respect to the use of the Information or to take any action in connection therewith.

SWS and its officers, directors, and employees, including persons involved in the preparation of this website, may from time to time have “long” or “short” positions in and buy or sell, the securities, derivatives (including options) or other financial products thereof, of entities mentioned herein. In addition, SWS may have served as manager or co-manager of an offering of securities by any such entity. Further information may be obtained upon request.

Unless otherwise agreed in writing, SWS is not acting as a municipal advisor, financial advisor or fiduciary and the information provided should not be construed as “advice” within the meaning of Section 15B of the Securities Exchange Act of 1934.

Terms of Use

By accessing this website, you agree to be bound by the Terms of Use set forth herein. If you do not agree to these Terms of Use, do not access, view or use this site or any information contained herein.

The information on this website is for informational purposes only and does not constitute a solicitation or offer by Siebert Williams Shank & Co., LLC (“SWS”) or its affiliates to purchase or sell any securities, futures, options or other financial instruments or provide any investment advice or service.

The information on this website is published in the United States and intended for distribution and use by United States persons. It is not intended for distribution or use by any person in any other jurisdiction or country where such distribution or use would be contrary to local law or regulation.

The information on this site is provided “As Is”. SWS does not warrant the accuracy of the information or any material provided herein, either expressly or impliedly, for any particular purpose and expressly disclaims any implied warranty of merchantability or fitness for a particular purpose. SWS and its affiliates will not be responsible for any direct, indirect, consequential or special damages arising from the user’s access to or use of the contents of this website.

Although the information provided on this website is obtained or compiled from sources we believe to be reliable, SWS cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data available on this website.

The use of the information contained on this website should not be construed as the rendering of tax, accounting, or legal advice. SWS does not provide tax, accounting, or legal advice. The products or services mentioned on this site may have tax consequences and, therefore, the user should consult its tax advisor in order to understand the tax consequences of any product or services mentioned on this website.

 

No information may be reproduced, transmitted, displayed, distributed, published or otherwise used for commercial purpose without the express written consent of Siebert Williams Shank & Co., LLC.

This website may contain links to other Internet websites that are beyond the control of SWS. Such links are provided for your convenience. SWS assumes no responsibility for the accuracy, completeness, timeliness, suitability or legality of the content of any such websites, or for any products or services that might be offered therein.

SEC Rule 606 Disclosures

SEC Rule 606 promulgated under the Securities Exchange Act of 1934 requires broker-dealers that route customer orders in equity and option securities to publish quarterly reports (“606 Reports”) that provide an overview of the broker-dealer’s order routing practices.

 

The 606 Reports disclose, among other things, information on the broker-dealer’s routing of “non-directed orders.” Each section of the 606 Report identifies which venues Siebert Williams Shank & Co., LLC (“SWS”) selected to route its customer orders; setting forth the various types of orders and percentages thereof routed to such venues. SWS does not engage in options trading and therefore did not route any options trades for execution.

Best Execution Disclosure

In every transaction for a customer, whether acting as principal or agent, Siebert Williams Shank & Co., LLC owes its customer a duty of best execution.

For equity transactions, best execution means obtaining the most fair and reasonable price for the customer. Care is taken to ensure the firm obtains best execution for is customers by reviewing OATS Reports and other available data. Best execution involves more than just getting the best price for the customer. Other factors include speed and likelihood of execution. Anonymity and liquidity could also be relevant factors.

In all cases, best execution should be viewed from the customer’s point of view, not the firm’s.

Customer Relationship Summary

Customer Relationship Summary

Clearing Firm Disclosure

THE FIRM CLEARS ALL OF ITS TRADES, ON A FULLY DISCLOSED BASIS, THROUGH FIDELITY CLEARING & CUSTODY SOLUTIONS AND PERSHING, LLC.

Business Continuity

SIEBERT WILLIAMS SHANK & CO., LLC BUSINESS CONTINUITY PLANNING

Siebert Williams Shank & Co., LLC has developed a Business Continuity Plan concerning how we will respond to events that significantly disrupt our business.  Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information on our Business Continuity Plan.  


Contacting Us – If after a significant business disruption, you cannot contact us as you usually do at 646-775-4850 or 212-830-4500 or info@siebertwilliams.com, you should call our alternative number, DiAnne Calabrisotto at 646-530-0835 or go to our web site at www.siebertwilliams.com.  If you cannot access us through either of those means, you should contact our clearing firms, Fidelity Clearing and Custody Solutions (“NFS”) 877-262-5950 or at clearingcustody.fidelity.com or Pershing LLC, at 201-413-3635 or at www.Pershing.com for instructions on how it may provide prompt access to funds and securities, enter orders and process other trade-related, cash, and security transfer transactions.


Our Business Continuity Plan – We plan to quickly recover and resume business operations after a significant business disruption and respond by safeguarding our employees and property, making a financial and operational assessment, protecting the firm’s books and records, and allowing our customers to transact business.  In short, our Business Continuity Plan is designed to permit our firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption.   


Our Business Continuity Plan addresses: data back-up and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring our customers prompt access to their funds and securities if we are unable to continue our business.  


Our clearing firms, NFS and Pershing, LLC, backs up our important records in a geographically separate area. While every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, we have been advised by our clearing firm that its objective is to restore its own operations and be able to complete existing transactions and accept new transactions and payments within four hours.  Your orders and requests for funds and securities could be delayed during this period.   


Varying Disruptions – Significant business disruptions can vary in their scope, such as only our firm, a single building housing our firm, the business district where our firm is located, the city where we are located, or the whole region.  Within each of these areas, the severity of the disruption can also vary from minimal to severe.  In a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resume business within 1 business day. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area and recover and resume business within one business day.  In either situation, we plan to continue in business, transfer operations to our clearing firm if necessary, and notify you through our web site, www.siebertwilliams.com or our customer emergency number, DiAnne Calabrisotto at 646-530-0835, how to contact us.  If the significant business disruption is so severe that it prevents us from remaining in business, we will assure our customers’ prompt access to their funds and securities.  


For more information – If you have questions about our business continuity planning, you can contact DiAnne Calabrisotto at 212-830-4559 or dcalabrisotto@siebertwilliams.com