Business Plan
Sandgrain Securities Inc. 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 with this information on our business continuity plan.
If after a significant business disruption you cannot contact us at 516-741-0280, call our alternative number 800-500-5008 or go to our web site at www.sandgrain.com. If you cannot access us through either of those means, contact our clearing firm, Pershing at 201-413-5368 for instructions. 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. In short, our business continuity plan is designed to permit our firm to resume operations as quickly as possible.
Our business continuity plan addresses: data back up and recovery; 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 firm, Pershing, 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 recovery time objective for business resumption is four (4) hours, depending on the availability of external resources . Your orders and requests for funds and securities could be delayed during this period.
Significant business disruptions can vary in their scope. 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 a local site when needed and expect to recover and resume business within 1hour. 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 1 hour. 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.sandgrain.com or our customer emergency number, 800-500-5008 how to contact us. 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.