Business Continuity Plan Client Disclosure Statement
Benjamin F. Edwards has developed a Business Continuity Plan on how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions are 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 your local branch office, you may contact the home office at (314)726-1600 or (855) 382-1600, or . If the business disruption prohibits you from contacting the home office, you may contact Pershing LLC directly to process limited trade-related transactions, cash disbursements, and securities transfers. Instructions to Pershing must be in writing and transmitted via facsimile to (201) 413-5368 or by postal service as follows:
P.O. Box 2065
Jersey City, New Jersey 07303-2065
For additional information about how to request funds and securities when Pershing cannot be contacted due to significant business interruption please select the Business Continuity and Other Disclosures link at the bottom of the home page on the Pershing web site at www.pershing.com. You may also call (201) 413-3635 for recorded instructions.
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 backup 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 firm, 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 4 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 four hours. 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 the same business day. Should any of these situations occur, we plan to continue business and provide recorded information on the current state of our recovery efforts. To access these recorded updates, clients may call our Home Office number, (314) 726-1600 or (855) 382-1600.
For more information – If you have questions about our business continuity planning, you can contact us at 314-726-1600.
This plan is subject to modification, an updated summary will be promptly posted on our Web site and customers may alternatively obtain updated summaries by requesting a written copy by mail.