Loeb Partners Corporation
and affiliated entities
LOEB PARTNERS CORPORATION, together with each of its affiliates, is committed to safeguarding the interests of our clients and customers in the event of an emergency or significant business disruption. This Business Continuity Disclosure ("BCD") summarizes the Firm's effort to mitigate risks due to unforeseen business interruptions. The Firm's comprehensive business continuity strategy is designed to enable us to meet our existing obligations to our clients and customers in the event of an emergency or significant business disruption. This BCD is intended to comply with the rules promulgated by the Financial Industry Regulatory Authority ("FINRA").
The Firm's main office houses its trading, operations and information technology. Regardless of whether the Firm is operating on its main office or back-up systems, trading, operations and information technology can be accessed remotely by many of the Firm's employees. In addition, J.P. Morgan Clearing Corp., our clearing firm, also has plans in case of business disruptions, including its own extensive disaster recovery plan. The Firm has an information technology processing and backup site that provides the redundancy required to protect the firm's books and records, balance sheets and capital, and provides business continuity and client protection. The recovery capability for certain of the Firm's mission critical processing capabilities is achieved through the use of a mainframe recovery solution with a back-up facility that provides disaster recovery services to many corporations. This will provide real time recovery for the most likely events and a recovery solution for the most significant business disruptions. Recovery times for mission critical systems range between real time recovery and one (1) business day. The functionality of the backup facility is periodically tested by trading and operations.
The safety and well-being of our employees is a vital concern. In the event of an emergency or significant business disruption, the Firm will communicate with its employees in several different ways. We use a combination of general broadcast and direct targeted outreach. General information such as office closures and operating hours will be e-mailed to employees. Senior management will be contacted directly via telephone and/or e-mail.
In the event of an emergency or significant business disruption, clients can obtain up-to-date information regarding the Firm's operating status, the status of their accounts and access to their funds and securities by contacting their registered representative by phone or email or calling our main number (212) 483-7000. If we are operating out of an alternate physical location we will arrange for our regular phone numbers to automatically forward to our alternate site. If after a significant business disruption you cannot contact us as you usually do at our normal phone numbers or through email, the clearing firm at which your assets are held, J.P. Morgan Clearing Corp. (JPMCC): (212) 552-1919 will be able to assist you by providing access to your funds or securities.
The Firm's comprehensive business continuity strategy is designed to enable us to meet our existing obligations to our clients and customers even in the event of an emergency or significant business disruption; however it is not infallible. The plan is designed to work in many different emergency situations; but these events are, by their nature, unpredictable and it is impossible to anticipate every scenario that would cause a business disruption. Furthermore, although we are confident in our own preparedness, the Firm has no control over the various entities that we must rely upon in the event of an emergency, especially our clearing firm. Our business continuity plans are tested periodically to ensure readiness; yet such tests may not be able to replicate the actual conditions we experience in a real emergency. This BCD is subject to change without notice. The information contained in this disclosure is provided by the Firm for informational purposes only. Nothing contained herein shall be construed to amend, supplement or otherwise modify any of the terms and conditions set forth in any customer agreement between you and the Firm.