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SHAY FINANCIAL SERVICES,INC.
DISCLOSURE STATEMENT OF BUSINESS CONTINUITY PLAN
Shay 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 is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you this information on our Business Continuity Plan.
Our firm's policy is to respond to a Significant Business Disruption by safeguarding employees' lives and firm's property, making a financial and operational assessment, quickly recovering and resuming operations, protecting all of 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 (Shay does not anticipate such drastic results), we will assure customers prompt access to their funds and securities. The firm, in case of a Significant Business Disruption, expects to resume business and operations within hours and positively, the same day. Off-site locations have been designated by our firm to resume operations promptly and avoid any down time in business and operations. 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 clearing firm, Pershing (for broker-dealer transactions and CD transactions) and for the Fund (Northern Trust Bk), will be available to assist Shay Financial Services, Inc. in case of a business disruption. In the event, Shay cannot be contacted by our customers, Pershing can be reached by calling DSG department at 866-698-9484 for securities clearing questions. The Fund would be contacted by the regular phone number at 1-800-527-3713 and call would be automatically forwarded to an authorized personnel. Otherwise, customers can access Shay's Web site at www.shay.com for all up to date information relating to a business disruption affecting the firm or call our regular contact numbers for information or forwarding.
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.
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 firms (Pershing for trade transactions and Northern Trust for fund transactions), 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 firms that its objective is to restore its own operations and be able to complete existing transactions and accept new transactions and payments within hours. Your orders and requests for funds and securities could be delayed during this period.
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 another firm location or local site when needed and expect to recover and resume within hours or the same 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 hours or the same day. In either situation, we plan to continue in business, transfer operations to our clearing firms if necessary, and notify you through our website www.shay.com or a customer emergency number posted on our website. If the significant business disruption is so severe that it prevents us from remaining in business, we will assure our customer's prompt access to their funds and securities.
For more information regarding our Business Continuity Plan, you can contact us at 305-507-1536. A complete version of Shay Financial Services, Inc. Business Continuity Plan is available upon request.
Shay's Office Locations and Phone numbers:
Miami, Florida: 1000 Brickell Avenue, Suite 500, Miami, FL 33131 305-379-6656
Chicago, Illinois: 230 West Monroe St., Suite 2810, Chicago, IL 60606 312-214-1410
Summit, NJ: 350 Springfield Avenue, 3rd floor, Summit, NJ 07901 908-273-3996
Irving, Texas: 8500 Freeport Parkway South, Suite 130, Irving, TX 75063 972-929-0771
Norwalk, CT: 83 East Avenue, Suite 201, Norwalk, CT 06851 203-853-2500
Wexford, PA: 12300 Perry Highway, Suite 308, Wexford, PA 15090 724-934-5710
Memphis, TN: 6410 Poplar Avenue, Suite 320, Memphis, TN 38119 901-261-5900
Midland, MI: 148 East Main Street, Suite 200, Midland, MI 48640 312-214-7480
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