BUSINESS CONTINUITY PLAN CLIENT DISCLOSURE
Ladenburg Thalmann (“LTCO”) plan covers the broker dealer operations and Ladenburg Thalmann Asset Management (“LTAM”). LTCO and LTAM are subsidiaries of Ladenburg Thalamnn Financial Services Inc. The plan is designed to quickly recover and resume business operations after a significant business disruption and respond by safeguarding our client’s and our employee’s information by making a financial and operational assessment, protecting the firms books and records, and allowing our customers to transact business. In short, our business continuity plan is expected to permit our firm to resume operations as quickly as possible, given the scope and severity of the business disruption.
Our clearing firm, National Financial Services (NFS), 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 8 business hours.
Firm only Disruptions
An IT crisis team will respond to LTCO and LTAM disruptions that effect only our companies, such as computer virus. If and when such a disruption takes place, we intend to restore all critical services within one day after the disruption occurs. Depending on the nature of the problem, it may take longer for us to resume operations in one or more services during any particular disruption.
Disruptions that affect a single building
Significant business disruptions, such as a fire can vary in scope, such as only a single building housing our firm or the business district where our firm is located. Our plan calls for a response involving multiple locations. We will resume services by moving key employees to other locations. Certain other employees may work remotely by connecting to the Ladenburg network. Therefore, we will transfer responsibilities for certain operations and support services to other branch offices. Nevertheless, we expect to resume operations in all critical services areas within one day after the disruption, although it may take longer to continue doing business in one or more critical areas depending on the availability of data and applications.
Disruptions affecting the entire city or business district
If a significant disruption, such as terrorist attacks, cuts off access to our main office we expect to resume critical services by utilizing our other branch locations and staff. As stated above, certain key employees will be deployed to other locations or work remotely in order to handle certain operational functions and provide customer support. It may take us longer than one day to recover depending on the availability of data and applications and the speed in which we can relocate employees.
Disruptions affecting an entire region
Resuming normal business as a result of disruptions, such as a region wide power outage, that effect an entire region will depend on the time it takes for power to be restored. The severity of the disruption can vary from minimal to severe. 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 24 hours of relocating. 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.ladenburg.com or you can call one of our customer emergency numbers, 305-572-4132 OR 212-409-2000.
Access to your funds
LTCO and LTAM do not hold customer funds or securities. Your assets are held at our clearing firm, National Financial Services (“NFS”). Therefore, your funds and securities remain accessible directly through our clearing firm despite any site outage. Your ability to trade securities may be impacted by market events outside our control, such as when the markets close. Our plan depends on necessary personnel being available to approve transactions that result in the disbursement of available funds.
If after a significant business disruption you cannot contact us as you usually do by calling your sales representative at their respective phone number or at Ladenburg’s main office 212-409-2000 or by e-mail to firstname.lastname@example.org you should call our alternative number 305-572-4132.
Communications with regulators and customers
The compliance department will notify regulators as is appropriate under the circumstances present at the time of the disruption.
We will promptly post information about updates or modifications to this plan on our website. You can also obtain updated information about the plan by requesting a written copy by mail. Requests for updated information should be sent to:
Ladenburg Thalmann & Co Inc.
Attn: Chief Compliance officer
520 Madison Ave., 9th floor
New York, NY 10022
For more information about our business continuity planning, you can contact us at 212-409-2021 or email@example.com.