Regulatory Disclosure Statement
- USA PATRIOT ACT – VERIFICATION OF IDENTITY
FBN Securities, Inc. (“FBN”) is required to establish and maintain an Anti-Money Laundering Program (“AML”) in accordance with the provisions set forth under the U.S. PATRIOT ACT to assist the U.S. government fight against the funding of terrorism and to prevent money laundering activities. Federal law requires that all financial institutions obtain, verify, and record certain information that that will be utilized to verify the identities when opening a customer account.
For Entity accounts, other than a natural person, (e.g.: a corporation, partnership, limited liability corporation, etc.) FBN will request specific information and identifying documents evidencing the existence of the entity, such as articles of incorporation, a government-issued business license, a partnership agreement or a trust agreement. FBN may also request a valid government issued form of identification.
If FBN is unable to verify your identity, FBN will not be able to open an account or establish a relationship with you as required by federal law. FBN reserves the right to request additional information or documentation at any time based on its discretion.
Any material changes in account information must be submitted in writing to FBN’s Chief Compliance Officer at the above address.
FBN Securities, Inc. recognizes the importance of protecting your privacy and we have policies in place to maintain the confidentiality and security of your personal information. The following policy is designed to help you understand what information we collect from you and how we use that information to serve your account.
Confidentiality and Security
We restrict access to nonpublic information, personal information about you, to those employees and agents who need to know that information in order to provide products and services to you. We maintain physical, electronic and procedural safeguards to protect your nonpublic, personal information. We educate our employees to treat personal information with care.
Categories of Information that FBN Securities, Inc. Discloses and Parties to whom it is Disclosed
We do not disclose any nonpublic, personal information about our customers or former customers to anyone, except as permitted by law. In the course of servicing your account we may disclose your Nonpublic Personal Information to Affiliated or Non-affiliated Third Parties that perform accounting, recordkeeping or administrative services related to your account; to securities regulators upon request; to others pursuant to subpoena; or as otherwise permitted by law. Even if you decide to close your account or it becomes inactive, we will continue to adhere to these privacy policies and practices.
Categories of Information that FBN Securities, Inc. collects
We collect nonpublic, personal information about you to help us serve your financial needs and fulfill legal and regulatory requirements. The types of information we collect include:
- Information we receive from you on applications or other forms
- Information about your transactions with our affiliates and us.
- From nonaffiliated entities that help us process your applications or service your account, such as transfer agents, other clearing entities, or that provide us with consulting, accounting, legal and other services.
Please be aware that you have the right to maintain the privacy of your nonpublic, personal information. Should our policy change, we will notify you and at that time, you may notify us, in writing, if you wish that your information not be used for any other purpose than maintaining your account with our firm.
- DISCLOSURE OF ORDER ROUTING – SEC RULE 606(b)(3)
Effective April 1, 2020 the SEC adopted Rule 606(b)(3) which requires a broker-dealer upon request of a customer that places not held orders, to provide specific disclosures, for the prior six months, regarding routing and execution of such orders, and if applicable, material aspects of the relationships with the entities to whom the orders are routed. Upon written request, you may obtain the identity of the venue to which your orders were routed for the six months prior to your request and the time of transactions that may have resulted from such orders. All requests should be addressed to FBN at [email protected].
- PAYMENT FOR ORDER FLOW DISCLOSURE
FBN does not direct order flow for the purpose of payment on any transactions. However, FBN may receive rebates or credits per executed share for equity orders or per executed option contract. Upon written request, you may obtain the source and nature of compensation received for order flow for the six months prior to your request.
- SECURITIES INVESTOR PROTECTION CORP. (“SIPC”)
FBN is a member of the Securities Investor Protection Corporation (SIPC) which provides protection for investors under specific conditions. For additional Information on SIPC and the SIPC Brochure you can reach SIPC at:
Securities Investor Protection Corporation
1667 K St. N.W., Suite 1000
Washington, D.C. 20006-1620
- BUSINESS CONTINUITY PLAN
The Firm maintains a Business Continuity Plan (“BCP”) in accordance with FINRA regulatory requirements. The provisions of the BCP rule requires the Firm to summarize its plan and to advise our customers how the Firm will recover and restore partially or completely should the Firm suffer a significant business disruption
As an introducing broker, FBN does not maintain custody of customer securities or funds nor does it perform clearing functions. Pershing LLC acts as the Firm’s clearing agent and has the responsibility of clearing and settling all of our customer transactions.
In the event our Firm experiences a significant business interruption, you may also contact Pershing directly. To view Pershing’s business continuity plan and for instructions and contact information for processing limited trade-related transactions, cash disbursements, and security transfers please visit their website located at:
In the event that our normal business phone numbers are not reachable after a major disruption, please visit our website to obtain information about accessing your securities and funds at www.fbnsecurities.com. If you are still unable to contact FBN, please call Pershing directly at 201-413-3635 for additional information about how to request funds and securities. As an alternate telephone number Pershing may also be contacted at 213-624-6100, extension 500.
- FINRA’s PUBLIC DISCLOSURE PROGRAM
The FINRA Public Disclosure Program provides you with regulatory information regarding FINRA Member Firms and registered personnel. The FINRA Public Disclosure Program Investor brochures are available at http://brokercheck.finra.org/ or through FINRA’s Public Disclosure Program Hotline at (800) 289-9999
- EXTENDED HOURS TRADING RISK DISCLOSURE STATEMENT
You should consider the following points before engaging in extended hours trading:
- Risk of Lower Liquidity
- Risk of Higher Volatility
- Risk of Unlinked Markets
- Risk of Wider Spreads
- CUSTOMER INQUIRIES & COMPLAINTS
Please direct all customer inquiries and/or complaints to our Chief Compliance Officer by forwarding an email to: [email protected] or by direct mail to 112 West 34th Street, NY NY 10120 or by calling 212-218-2722.
Should you have any questions or require any additional information regarding the aforementioned disclosures included in this statement, please contact FBN at the above address, calling 212-618-2722 or forwarding an email to [email protected].