Peak Brokerage Services
CLIENT ACCOUNT AGREEMENT
Meaning of Words in this Agreement. The words “I,” “me,” “my,” and “us,” refer to the person(s) who signed this Agreement, also
identified as the “Customer.” The words “you” and “your” refer to Peak Brokerage Services, LLC and its authorized agents, including
its representatives and personnel.
In consideration of Peak Brokerage Services, LLC (PBS) opening one or more accounts on my behalf, I warrant and agree to be bound
by all of the following representations and disclosures: I understand that securities products are not federally insured nor are they a
deposit or obligation of, or guaranteed by, any depository institution. Furthermore, I understand that the products are subject to
investment risks, including the possible loss of the principal amount invested. Securities products are offered by PBS. I understand PBS
is a Broker/Dealer registered with the Financial Industry Regulatory Authority (FINRA) and is a member of the Securities Investor
Protection Corporation (SIPC). I further agree to be bound by the following terms and condition
.
1. Authority and Ownership. I have the requisite legal
capacity, am authorized to enter into this agreement and have
obtained and will provide you with all necessary authorizations
from third parties to open accounts and effect
securities transactions under this agreement. I will be the
owner of all securities purchased, held, and sold by me
through you, or will otherwise have the authority to purchase,
hold or sell such securities. If this is a joint account, we
understand and agree that you may follow the instructions of
either of us without obtaining the consent of the other. Each of
us will be fully liable for any amounts due you under this
Agreement. Upon the death of either of us, you will treat the
property in the account as belonging to the joint tenant with
right of survivorship unless we have expressly elected to own
the account as tenants in common or other registration, but
you may first require the production of necessary legal
documents. The liability regarding this account shall be joint
and several.
2. Appointment of broker dealer as agent. I appoint PBS as
my agent for the purpose of carrying out my directions with
respect to the purchase, sale or liquidation of securities in
accordance with terms and conditions of this agreement; I
assume all risks with respect to the purchase, sale or
liquidation of securities. All transactions will be executed only
on my order or on the order of my authorized delegate. PBS is
authorized to open or close brokerage accounts, place and
withdraw orders and take such other steps as are reasonable to
carry out my directions.
3. Risk disclosure. I understand securities involve risks and
that many variables, including but not limited to market and
economic fluctuations, may have a substantial negative effect
on the value of my securities positions. Furthermore, I
represent to PBS that I am willing to assume these risks and I
am, in fact, financially able to bear these risks. I also
understand I have an affirmative obligation to notify PBS in
writing should my financial condition adversely change from,
or should my objectives become more conservative than, what
is shown on this new account form.
PBS Client Account Agreement (Rev. 09/2015)
4. Customer Obligations. I hereby agree to adhere to the
following requirement to monitor my account and prevent
unauthorized activities: a) I will only make payment payable to
one of the following parties: A mutual fund or variable product,
or REIT as instructed in the Prospectus, PBS’s clearing firm; a)
I agree to only pay for a security by utilizing a traceable
instrument (e.g. check, bank draft, etc.) and I will never pay
cash for a security; b) I will carefully review each applicable
Offering Document and I agree to be bound by the information
contained therein; c) When purchasing or selling
securities, I will not rely upon any information, including but
not limited to statements, forecasts, predictions and
projections whether verbal or written, which are not contained
in the applicable Offering Document; d) When purchasing or
selling securities, I will not rely upon comparisons between
securities or with market indexes of any kind, nor shall I rely
upon guarantees of future value or price of any security; e) I
understand when purchasing an interest in a partnership or
mutual fund it may be advisable to take advantage of any
available quantity discount privilege (“break-point level”) as
discussed in the applicable Offering Document, although
doing so may limit my portfolio diversification; f) When
purchasing or selling securities, I will not be induced by a
pending dividend; g) I will never make payment payable to
Representative, PBS or to an entity in which Representative
may gain access to my funds; h) I will demand and obtain
from Representative the current Offering Document which
fully describes the investment, including potential risks and
costs, prior to purchasing a mutual fund, variable product, unit
investment trust or REIT; i) I will not loan to Representative
or borrow from Representative monies or securities and I
specifically will not authorize or permit Representative to act
as personal custodian of my securities, stock powers, monies
or any other personal or real property of which I may have any
interest; j) I will promptly review each trade confirmation and
account statement and report any errors or discrepancies to
PBS within 10 days of the date of mailing.
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5. Orders for Securities and Payment Arrangements. a) I
understand PBS shall have the sole discretion to accept my
securities orders and that PBS. reserves the right to require a
deposit before accepting or executing my securities orders;
b) I will not buy, sell or liquidate any securities of a
corporation of which I am an affiliate, or sell or liquidate
any restricted securities, except in compliance with
applicable laws and regulations and with notice, to you, that
the securities are restricted; c) If upon the sale or purchase
of securities by PBS at my direction, I fail to deliver the
securities to PBS’s clearing firm or if I fail to make a full
and timely payment, I authorize PBS to take those steps
necessary, in its discretion,
to deliver such
securities or to make such payment, in which event I agree
to reimburse PBS for any loss PBS may sustain in the
transaction; d) I shall reimburse PBS, for the reasonable
costs of collection of any debit balance and any unpaid
deficiency in my accounts, including attorney’s fees, court
costs and any other expenses whatsoever in nature incurred
by PBS. in effecting said collection; e) I realize no
acceptance by PBS of a lesser sum than due in my account
shall be deemed to be other than a payment on account and
PBS may accept such check or payment without prejudice
to PBS.’s right to recover the balance due in my account.
6. IRA Accounts. If I am establishing an account with PBS
in connection with an individual retirement account (“IRA”),
I understand that it is my responsibility, and not the
responsibility of PBS, to determine my eligibility for
establishing an IRA, the deductibility of IRA contributions,
compliance with all other rules relating to the tax deferred
status of the IRA or the rollover from another retirement
account, and the availability of all other tax benefits of the
IRA.
7. Notices. All written notices and communications pursuant
to this Agreement and my account(s) shall be sent to the
undersigned at the mailing address set forth on this new
account form or my last known address contained in the files
of PBS. All written notices and communications so sent,
whether by mail, telegraph, messenger or otherwise, shall be
deemed given to the undersigned when sent by PBS. to said
address. Written notices and communications pursuant to this
Agreement shall be sent to PBS by certified mail, return
receipt requested to the main office PBS currently located at
11770 US Hwy 1, Suite E205; Palm Beach Gardens, Florida
33408 or to such other address as may be furnished by written
notice. All written notices and communications shall be
deemed given to PBS on the date indicated as received by PBS
on the return receipt.
8. Entire Agreement / No Waiver. This Agreement
contains the entire understanding between the undersigned
and PBS concerning the subject matter of this Agreement.
Should any part, term, section or provision of this Agreement
be declared invalid, void or unenforceable, all remaining
parts, terms, sections or provisions hereof shall remain in full
force and effect and shall in no way be invalidated, impaired
or affected thereby. No waiver of any part of any term,
condition, section or provision of this Agreement shall be
construed as a waiver of any subsequent term, condition,
section or provision of this Agreement.
PBS Client Account Agreement (Rev. 09/2015)
9. Modification of Agreement. I understand PBS shall have
the right by written notice to add or to amend any term,
condition, section or provision of this Agreement. All
applicable amendments and additions will be effective fifteen
(15) days after said notice is mailed, unless PBS receives my
written notice of objection prior to said effective date.
10. Applicable Laws and Regulations. This agreement is
governed by Florida law, without regard to its choice of law
provisions All transactions shall be subject to rules,
regulations, customs and usages of the exchange, market or
clearing house where executed, and to all applicable federal
and state laws and regulations. Any judicial proceedings
relating to an arbitration (SEE PARAGRAPH 12) or to this
Agreement shall be conducted in a state or federal court in
Palm Beach County, Florida, and I agree (a) to submit to the
jurisdiction of any such court, (b) that any such court
constitutes a convenient forum, and (c) that process may be
served by certified mail, return receipt requested at my last
address known to Peak Brokerage Services, LLC.
11. Force Majeure. PBS shall not be liable for loss or delay
caused directly or indirectly by war, natural
disasters,government restrictions, exchange or market
rulings or other conditions beyond the control of PBS.
12. Pre-Dispute Arbitration Agreement. This agreement
contains a pre- dispute arbitration clause. By signing an
arbitration agreement the parties agree as follows:
ALL PARTIES TO THIS AGREEMENT ARE GIVING UP
THE RIGHT TO SUE EACH OTHER IN COURT,
INCLUDING THE RIGHT TO A TRIAL BY JURY,
EXCEPT AS PROVIDED BY THE RULES OF THE
ARBITRATION FORUM IN WHICH A CLAIM IS FILED.
ARBITRATION AWARDS ARE GENERALLY FINAL
AND BINDING; A PARTY’S ABILITY TO HAVE A
COURT REVERSE OR MODIFY AN ARBITRATION
AWARD IS VERY LIMITED.
THE ABILITY OF THE PARTIES TO OBTAIN
DOCUMENTS, WITNESS STATEMENTS AND OTHER
DISCOVERY IS GENERALLY MORE LIMITED IN
ARBITRATION THAN IN COURT PROCEEDINGS.
THE ARBITRATORS DO NOT HAVE TO EXPLAIN THE
REASON(S) FOR THEIR AWARD.
THE PANEL OF ARBITRATORS WILL TYPICALLY
INCLUDE A MINORITY OF ARBITRATORS WHO WERE
OR ARE AFFILIATED WITH THE SECURITIES
INDUSTRY.
THE RULES OF SOME ARBITRATION FORUMS MAY
IMPOSE TIME LIMITS FOR BRINGING A CLAIM IN
ARBITRATION. IN SOME CASES, A CLAIM THAT IS
INELIGIBLE FOR ARBITRATION MAY BE BROUGHT
IN COURT.
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THE RULES OF THE ARBITRATION FORUM IN
WHICH THE CLAIM IS FILED, AND ANY
AMENDMENTS THERETO, SHALL BE
INCORPORATED INTO THIS AGREEMENT.
NO PERSON SHALL BRING A PUTATIVE OR
CERTIFIED CLASS ACTION TO ARBITRATION, NOR
SEEK TO ENFORCE ANY PRE-DISPUTE
ARBITRATION AGREEMENT, AGAINST ANY
PERSON WHO HAS INITIATED IN COURT A
PUTATIVE CLASS ACTION; OR WHO IS A MEMBER
OF A PUTATIVE CLASS WHO HAS NOT OPTED OUT
OF THE CLASS WITH RESPECT TO ANY CLAIMS
ENCOMPASSED BY THE PUTATIVE CLASS ACTION
UNTIL; (I) THE CLASS CERTIFICATION IS DENIED;
OR (II) THE CLASS IS DECERTIFIED; OR (III) THE
CUSTOMER IS EXCLUDED FROM THE CLASS BY
THE COURT. SUCH FORBEARANCE TO ENFORCE
AN AGREEMENT TO ARBITRATE SHALL NOT
CONSTITUTE A WAIVER OF ANY RIGHTS UNDER
THIS AGREEMENT EXCEPT TO THE EXTENT
STATED HEREIN.
I EXPRESSLY ACKNOWLEDGE AND AGREE THAT
ALL CLAIMS, DISPUTES AND OTHER MATTERS
ARISING OUT OF OR RELATING TO THIS
AGREEMENT SHALL BE SUBMITTED TO
ARBITRATION CONDUCTED BY THE FINANCIAL
INDUSTRY REGULATORY AUTHORITY (FINRA).
FINRA’S ARBITRATION CODE OF PROCEDURE IS
INCORPORATED HEREIN BY REFERENCE. THIS
EXPRESS AGREEMENT TO SUBMIT TO BE BOUND
BY ARBITRATION INCLUDES, BUT IS NOT
LIMITED TO, DISPUTES ARISING UNDER THE
SECURITIES ACT OF 1933, THE EXCHANGE ACT
OF 1934, CLAIMS ARISING UNDER THE
RACKETEER INFLUENCED AND CORRUPT
ORGANIZATIONS ACT (RICO), STATE OR
COMMON LAW FRAUD AND SECURITIES
STATUTES, AS WELL AS OTHERS SPECIFICALLY
ENFORCEABLE UNDER THE PREVAILING
ARBITRATION LAW AND PROCEDURES. THE
AWARD RENDERED BY THE ARBITRATORS
SHALL BE FINAL, AND JUDGEMENT MAY BE
ENTERED UPON IT IN ANY COURT HAVING
JURISDICTION THEREOF.
13. Jurisdiction. The laws of the State of Florida, as applied
to agreements signed and to be performed in Florida, shall
apply and bind the parties in any and all questions arising
under this Agreement, including questions of validity,
interpretation and performance.
PBS Client Account Agreement (Rev. 09/2015)
14. Disclosure Updates. I acknowledge that the disclosures
contained herein are also available on your website located at
www.peakbrokerageservices.com and are available for my
review. I also acknowledge and agree that any amendment or
change to these disclosures or this agreement will have been
deemed to be delivered to me.
15. FINRA Public Disclosure Program. The Financial
Industry Regulatory Authority (FINRA) requires that
FINRA members provide the following information
concerning the FINRA’s public disclosure program: the
FINRA public disclosure program hotline number is 800289-9999 and the FINRA website address is
www.finra.org. An investor brochure that includes
information describing the public disclosure program may
be obtained from FINRA.
16. Customer Identification. Federal law requires all
financial institutions to obtain, verify, and record information
that identifies each person (or business) who opens an
account. When I open an account, you we will ask me for my
name, address, telephone number, date of birth, tax
identification number and other information that will allow
you to verify my identify to you. You may ask to see and
make a copy of my driver’s license, government- issued
identification or other identifying documents.
17. Revenue Sharing Disclosure. Peak offers a wide variety
of approved securities, investments, insurance and annuities. I
acknowledge that a disclosure concerning compensation Peak
may be paid for offering these products and programs is
available at www.PeakBrokerageServices.com/disclosures.
18. FDIC Disclosure. I acknowledge that securities I may
invest in:
 Are not insured by the Federal Deposit Insurance
Corporation (“FDIC”);
 Are not deposits or other obligations of the financial
institution and re not guaranteed by the financial
institution; and
 Are subject to investment risks, including possible
loss of the principal invested.
19. Account Service Fee Notice Statement. A list of account
service fees is located on our website at
www.PeakBrokerageServices.com/disclosures or you may ask
your financial advisor for a copy. Account service fees may
apply and are subject to change without prior notice. Fees may
be unrelated to the cost of providing the service.
The fees may be in excess of the firm’s expenses.
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NOTICE: This agreement contains a pre-dispute arbitration agreement located in paragraph 12 above.
Financial Terms
Annual Income includes income from sources such as employment, alimony, social security, investment income, etc.
Investment Time Horizon: The expected period of time you plan to invest to achieve your financial goal(s).
Combined Net Worth is your net worth minus assets that cannot be converted quickly and easily into cash, such as real estate,
business equity, personal property and automobiles, expected inheritances, assets earmarked for other purposes, and investments or
accounts subject to substantial penalties if they were sold or if assets were withdrawn from them.
Risk Exposure: Investing involves risk. Different investment products and strategies involve different degrees of risk. The higher the
expected returns of a product or strategy, the greater the risk that you could lose most of your investment. Investments should be
chosen based on your objectives, timeframe, and tolerance for market fluctuations.
PBS Client Account Agreement (Rev. 09/2015)
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© 2015 Peak Brokerage Services, LLC
Peak Brokerage Services
Privacy Policy
At Peak Brokerage Services, LLC ("PBS"), we appreciate your business and the trust you have placed in us. As a FINRA introducing broker-dealer
firm, PBS provides a variety of brokerage services to clients who have contracted for these services. PBS is required to communicate its policies
related to the privacy of customer information.
We are proud of our privacy protection practices and procedures and we want you to know how we protect your information and use this information
to service your account. In order to facilitate the servicing of your account, PBS may receive non-public personal information about you from the
following sources:
Information we receive from you on questionnaires, applications, account opening documents or other forms
Information we receive about your transactions with us or others
Information we receive from a consumer reporting agency
Information we receive from other sources with your consent
We do not disclose any non-public personal information about you to anyone, except as permitted by law. Such disclosure may include the following:
Disclosures to affiliates, including affiliated service providers
(for example, affiliated custodians for the purpose of establishing accounts on your behalf)
Disclosures to government agencies, securities regulators and law enforcement officials
(for example, for tax reporting, under a court order, or to protect our legal rights)
Disclosures to other organizations, made with your consent
(for example, other investment advisor firms in order to open a managed account with their firm or the brokerage firm they utilize)
Disclosures to other persons you authorize to obtain such information
(for example, a CPA who will be preparing your tax return or an attorney preparing legal documents)
PBS restricts access to your personal and account information to those of its employees who need to know that information to provide products or
services to you. PBS maintains physical, electronic, and procedural safeguards to guard your non-public personal information. We will continue to
adhere to the privacy policies and practices as described in this notice if you decide to close your account(s) or become an inactive customer.
If you have any questions concerning PBS’s privacy policies and procedures, please feel free to contact us.
Thank You.
PBS Client Account Agreement (Rev. 09/2015)
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Peak Brokerage Services
Business Continuity Plan
I. Emergency Contact Persons
Our firm’s emergency contact person is: Matt Myers, Chief Compliance Officer,
561-641-5050.
The firm will provide FINRA with the contact information for the emergency
contact person: (1) name; (2) title; (3) mailing address; (4) email address; (5)
telephone number; and (6) facsimile number through the FINRA Contact System
(FCS). The firm will promptly notify FINRA of any change in this information
through FCS (but no later than 30 days following the change) and will review, and
if necessary update, this information within 17 business days after the end of each
calendar year.
II. Firm Policy
Our firm’s policy is to respond to a Significant Business Disruption (SBD) by
safeguarding employees’ lives and firm property, conducting a financial and
operational assessment, quickly recovering and resuming operations, protecting
the firm’s books and records, and allowing our customers to transact business. In
the event that we determine we are unable to continue our business, we will
assure customers prompt access to their funds and securities.
A. Significant Business Disruptions (SBDs)
Our plan anticipates two kinds of SBDs, internal and external. Internal SBDs affect
only our firm’s ability to communicate and do business (e.g. such as a fire in our
building). External SBDs prevent the operation of the securities markets or a
number of firms, such as a terrorist attack, a city flood, or a wide-scale, regional
disruption. Our response to an external SBD relies more heavily on other
organizations and systems, especially on the capabilities of our clearing firm.
B. Approval and Execution Authority
The CCO is responsible for approving the plan and for conducting the required
annual review. The CEO, CCO, and COO have the authority to execute this BCP.
C. Plan Location and Access
Our firm will maintain copies of its BCP plan and the annual reviews, and the
changes that have been made to it for inspection. An electronic copy of our plan is
located on Diskstation PBG. We will also maintain a copy in our compliance files
under BCP.
III. Business Description
Our firm conducts business in equity, fixed income, and derivative securities. Our
firm is an introducing broker/dealer and does not perform any type of clearing
function for itself or others. Furthermore, we do not hold customer funds or
securities. We accept and enter orders. All transactions are sent to our clearing
firm, who executes our orders, compares them, allocates them, clears and settles
them on behalf of our customers. Our clearing firm also maintains our customers’
accounts, can grant customers access to them, and delivers funds and securities.
Our firm services only retail customers. We do not engage in any private
placements.
PBS Client Account Agreement (Rev. 09/2015)
IV. Office Locations
Office Location #1
11770 US Hwy 1
Suite E205
Palm Beach Gardens, FL 33408
561-641-5050
Employees may travel to facility by foot, bicycle, bus or automobile. This is the
home office where the back office operations are primarily conducted. Our
financial books and records, commission system and back office support are
processed and housed at this location.
Office Location #2
100 Island Cottage Way
Suite 100E
St. Augustine, FL 32080
678-400-2131
Employees may travel to facility by foot, bicycle, bus or automobile. This is an
office of supervisory jurisdiction. We primarily engage in order taking in this
facility.
V. Alternative Physical Location(s) of Employees
In the event of an SBD, we will move our staff from affected office(s) to the
closest of our unaffected office location(s) at 100 Island Cottage Way, Suite 100E,
St. Augustine, Florida 32080 (noted above). Its main telephone number is
678-400-2131.
VI. Customers’ Access to Funds and Securities
Our firm does not maintain custody of customers’ funds or securities.
If SIPC determines that we are unable to meet our obligations to our customers or
if our liabilities exceed our assets in violation of Securities Exchange Act Rule
15c3-1, SIPC may seek to appoint a trustee to disburse our assets to customers.
We will assist SIPC and the trustee by providing our books and records identifying
customer accounts subject to SIPC regulation.
VII. Data Back-Up and Recovery (Hard Copy and Electronic)
Our firm maintains its primary hard copy books and records (until such time
records are electronically scanned and stored) and its electronic records at 11770
US Hwy 1, Suite E205, Palm Beach Gardens, Florida 33408. The CCO,
561-641-5050, is responsible for the maintenance of these books and records. Our
firm maintains the following document types and forms that are not transmitted to
our clearing firm: New account forms, acknowledge forms, trade blotters and
check blotters.
Our firm maintains its back-up electronic books and records online using Amazon
Glacier backup services. The CCO, 561-641-5050, is responsible for the
maintenance of these back-up books and records. Our firm backs up its paper
records by scanning them and electronically storing them. We back up our records
daily at our primary facility and on a weekly basis a full backup is transported to
the offsite facility.
In the event of an internal or external SBD that causes the loss of our records, we
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Business Continuity Plan
will recover them from our back-up site. If our primary site is inoperable, we will
continue operations from our back-up site or an alternate location. For the loss of
electronic records, we will either physically recover the storage media or
electronically recover data from our back-up site, or, if our primary site is
inoperable, continue operations from our back-up site or an alternate location.
Rule: FINRA Rule 4370(c)(1).
VIII. Financial and Operational Assessments
A. Operational Risk
In the event of an SBD, we will immediately identify what means will permit us to
communicate with our customers, employees, critical business constituents,
critical banks, critical counter-parties and regulators. Although the impact and
magnitude of an SBD will determine the means of alternative communication, the
communications options we will employ will include our website
www.peakbrokeragesevices .com, telephone voice mail, secure email, etc. In
addition, we will retrieve our key activity records as described in the section
above, Data Back-Up and Recovery (Hard Copy and Electronic).
Rules: FINRA Rules 4370(c)(3),(c)(4), (c)(5), (c)(7), (c)(9 & (g)(2)).
B. Financial and Credit Risk
In the event of an SBD, we will determine the value and liquidity of our
investments and other assets to evaluate our ability to continue to fund our
operations and remain in capital compliance. We will contact our clearing firm,
critical banks and investors to apprise them of our financial status. If we
determine that we may be unable to meet our obligations to those counter-parties
or otherwise continue to fund our operations, we will request additional financing
from our bank or other credit sources to fulfill our obligations to our customers
and clients. If we cannot remedy a capital deficiency, we will file appropriate
notices with our regulators and immediately take appropriate steps, including
notifying the SEC
Rules: FINRA Rules 4370(c)(3), (c)(8) & (g)(2).
IX. Mission Critical Systems
We have primary responsibility for establishing and maintaining our business
relationships with our customers and have sole responsibility for our mission
critical functions of order taking [and] entry [and execution]. Our clearing firm
provides, through contract, the execution, comparison, allocation, clearance and
settlement of securities transactions, maintenance of customer accounts, access
to customer accounts and the delivery of funds and securities.
Our clearing firm contract provides that our clearing firm will maintain a business
continuity plan and the capacity to execute that plan. Our clearing firm represents
that it will advise us of any material changes to its plan that might affect our
ability to maintain our business and has presented us with an executive summary
of its plan, which is attached. In the event our clearing firm executes its plan, it
represents that it will notify us of such execution and provides us equal access to
services as its other customers. If we reasonably determine that our clearing firm
has not or cannot put its plan in place quickly enough to meet our needs, or is
otherwise unable to provide access to such services, our clearing firm represents
that it will assist us in seeking services from an alternative source.
(continued)
clearing firm represents that it operates a back-up operating facility in a
geographically separate area with the capability to conduct the same volume of
business as its primary site. Our clearing firm has also confirmed the effectiveness
of its back-up arrangements to recover from a wide scale disruption by testing
and it has confirmed that it tests its back-up arrangements every six months.
Recovery-time objectives provide concrete goals to plan for and test against. They
are not, however, hard and fast deadlines that must be met in every emergency
situation, and various external factors surrounding a disruption, such as time of
day, scope of disruption and status of critical infrastructure—particularly
telecommunications—can affect actual recovery times. Recovery refers to the
restoration of clearing and settlement activities after a wide-scale disruption;
resumption refers to the capacity to accept and process new transactions and
payments after a wide-scale disruption. Our clearing firm has the following SBD
recovery time and resumption objectives: recovery time period of 4 hours; and
resumption time of the same business day.
Kathi Mansfield will periodically review our clearing firm’s capabilities to perform
the mission critical functions the clearing firm has contracted to perform for our
firm.
A. Our Firm’s Mission Critical Systems
1. Order Taking
Currently, our firm receives orders from customers via telephone or, in-person visits by
the customer. During an SBD, either internal or external, we will continue to take
orders through any of these methods that are available and reliable, and in addition, as
communications permit, we will inform our customers when communications become
available to tell them what alternatives they have to send their orders to us. Customers
will be informed of alternatives by our web site and voice mail on the main line.
2. Order Entry
Currently, our firm enters orders by recording them electronically and sending them to
our clearing firm electronically or telephonically. Alternatively, we place customer
orders through systems identified by our custodians. We can expect all services to
restored or operable within 24 hours.
In the event of an internal SBD, we will enter and send records to our clearing firm by
the fastest alternative means available, which include internet and telephone or cell
phone. In the event of an external SBD, we will maintain the order in electronic format,
and deliver the order to the SAL by the fastest means available when it resumes
operations. In addition, during an internal SBD, we may need to refer our customers to
deal directly with our clearing firm for order entry.
3. Order Execution
We currently execute orders by on line order entry from home office and branch level.
In the event of an internal SBD, we would call orders into the custodian's trading
department.
Our clearing firm represents that it backs up our records at a remote site. Our
PBS Client Account Agreement (Rev. 09/2015)
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Business Continuity Plan
4. Other Services Currently Provided to Customers
In addition to those services listed above in this section, through a clearing
arrangement we also provide clearing firm account services to our clients, process
checks, wires, transfers and we process business application way. In the event of an
internal SBD, we would provide a cell number on our website for clients to contact us.
In the event of an external SBD, we would relocate to our office in Pace, Florida. We
will inform our clients on the website of this move and the telephone number to call.
Our Centralized call routing facility can be redirected if required and we would transfer
the calls from the home office telephone number to the Pace Florida number.
B. Mission Critical Systems Provided by Our Clearing Firm
Through a Clearing Arrangement, our firm relies on our clearing firm to provide
order execution, order comparison, order allocation and settlement, customer
account maintenance and/or access and delivery of funds and securities.
Rules: FINRA Rules 3510(c)(2) & (g)(1).
X. Alternate Communications Between the Firm and Customers,
Employees, and Regulators
A. Customers
We now communicate with our customers using the firm website
www.peakbrokerageservices.com and by phone/fax 561-641-5050, email, U.S.
mail, and in-person visits at our firm or another location. In the event of an SBD,
we will assess which means of communication are still available to us, and use the
most expedient means available to communicate with the other party. E.g. if we
have communicated with a party by email but the Internet is unavailable, we
telephone them and follow up where a record is needed with paper copy in the
U.S. mail.
Rule: FINRA Rule 4370(c)(4).
B. Employees
We now communicate with our employees using by telephone, email, and in
person. In the event of an SBD, we will assess which means of communication are
still available to us, and use the means closest in speed and form (written or oral)
to the means that we have used in the past to communicate with the other party.
We will also employ a call tree so that senior management can reach all
employees quickly during an SBD. The call tree includes all staff home and office
phone numbers. We have identified persons, noted below, who live near each
other and may reach each other in person:
The person to invoke use of the call tree is:
Caller
Call Recipient
Glen McRary
Matt Myers
Matt Myers
Allan Harkness
Allan Harkness
Glenn Wiggle
Rule: FINRA Rule 4370(c)(5).
C. Regulators
We are currently members of the following self-regulatory organizations FINRA,
SEC and MSRB, and are also regulated by: Georgia, Florida and Missouri. We
communicate with our regulators using telephone, email, fax, U.S. mail or in
person. In the event of an SBD, we will assess which means of communication are
still available to us, and we will use the most expedient means available to
PBS Client Account Agreement (Rev. 09/2015)
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communicate with the regulator(s).
Rule: FINRA Rule 4370(c)(9).
XI. Critical Business Constituents, Banks, and Counter-Parties
A. Business Constituents
We have contacted our critical business constituents (businesses with which we
have an ongoing commercial relationship in support of our operating activities,
such as vendors providing us critical services), and determined the extent to
which we can continue our business relationship with them in light of the internal
or external SBD. We will quickly establish alternative arrangements if a business
constituent can no longer provide the needed goods or services when we need
them in the event of a SBD.
Rules: FINRA Rule 4370(c)(7).
B. Banks
The bank maintaining our operating account is: Chase Bank, 250 Rucker Road,
Alpharetta, Georgia 30004, 678-366-9741. Our contact is the branch manager.
Rules: FINRA Rule 4370(c)(7).
C. Counter-Parties
We have contacted our critical counterparties, such as other broker-dealers or
institutional customers, to determine if we will be able to carry out our
transactions with them in light of the internal or external SBD. Where the
transactions cannot be completed, we will work with our clearing firm or contact
those counterparties directly to make alternative arrangements to complete those
transactions as soon as possible.
Rules: FINRA Rule 4370(c)(7).
XII. Regulatory Reporting
Our firm is subject to regulation by: FINRA, SEC, MSRB and numerous state
securities regulators. We now file reports with our regulators using paper copies in
the U.S. mail, and electronically using fax, email and the Internet. In the event of
an SBD, we will check with the SEC, FINRA and other regulators to determine
which means of filing are still available to us, and use the most expedient and
available facility to fulfill our reporting requirements. In the event that we cannot
contact our regulators, we will continue to file required reports using the
communication means available to us.
SEC
FINRA
5200 Town Circle Center
100 F Street NE
Tower 1, Suite 200
Washington, DC 20549
Boca Raton, FL 33486
202-942-8088
561-443-8000
Rule: FINRA Rule 4370(c)(8).
XIII. Disclosure of Business Continuity Plan
Our written BCP disclosure statement is attached, and we provide this to our
customers when an account is opened and annually thereafter. The disclosure
statement is also posted on our website and mailed it to customers upon request.
Rule: FINRA Rule 4370(e).
XIV. Updates and Annual Review
Our firm will update this plan whenever we have a material change to our
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Securities offered through Peak Brokerage Services, LLC, Member FINRA/SIPC/MSRB
© 2015 Peak Brokerage Services, LLC
Peak Brokerage Services
Business Continuity Plan
(continued)
operations, structure, business or location or to those of our clearing firm. In
addition, our firm will review this BCP annually, on or before 12/31 to incorporate
any changes in our operations, structure, business or location or those of our
clearing firm.
Rule: FINRA Rule 4370(b).
XV. Senior Manager Approval
I have approved this Business Continuity Plan as reasonably designed to enable
our firm to meet its obligations to customers in the event of an SBD.
Rule: FINRA Rule 4370(d).
Execution: Matt Myers
Chief Compliance Officer, Peak Brokerage Services
PBS Client Account Agreement (Rev. 09/2015)
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Securities offered through Peak Brokerage Services, LLC, Member FINRA/SIPC/MSRB
© 2015 Peak Brokerage Services, LLC