Disclosures
SIPC Disclosure
SIPC provides protection to each Clearview Correspondent Services, LLC correspondent client account through the Securities Investor Protection Corporation amounting to a total of $500,000 inclusive of up to $100,000 in cash.
Clearview Correspondent Services, LLC carries insurance coverage issued by Lloyd's of London in excess of the standard SIPC coverage with a maximum limit per customer of $50,000,000 and a $200,000,000 total aggregate over all customers and every situation during the policy period.
Clearview Correspondent Services, LLC (a separate non-bank affiliate of BB&T Corporation) Statement of Financial Condition
We are pleased to provide you with the annual audited Statements of Financial Condition. You may also obtain a copy by calling the company toll free at 1-800-552-7757, extension 3238.
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Disclosure of Order Routing Information
Please CLICK HERE to view the SEC-Required Report on Routing of Customer Orders for the current quarter.
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Business Continuity Statement
In today's environment, a disaster can occur anytime and significantly affect our Firm’s ability to conduct business. As such, Clearview Clearing Services, LLC ("Clearview") maintains a Business Continuity Plan that documents the procedures the firm and its employees will follow when responding to any type of business disruption. Disruptions may occur via a wide variety of events or circumstances; as such, Clearview has instituted recovery planning that is both flexible and agile enough to respond to even the worst-case scenarios.
As part of a Master Service Agreement, Clearview has executive representation as part of the Scott & Stringfellow, LLC Business Recovery Management Team (BRMT) that manages the recovery of critical business functions in a timely manner following any significant business disruption. If Clearview, a self-regulatory organization, or an agency of the federal government declares a Disaster Event, the BRMT will assemble and operate from a Crisis Command Center. Clearview has the ability to relocate essential personnel to back-up facilities from which our employees can conduct business.
We recognize that technology and communications are vital to client service. As such, Clearview's supporting infrastructure is maintained in a Tier IV back-up data and communications center that is more than 300 miles from its primary data center. This back-up facility contains redundant systems and communication links to ensure prompt access to client data. Our goal is to help ensure clients' access to their accounts despite any disruptions, realizing that there may be circumstances beyond our control. However, we are committed to constantly and consistently improving our resiliency and will continue to strive towards achieving our goal.
Clearview has developed a Business Continuity Plan and the supporting procedures to ensure customers will have prompt access to their securities and funds following most types of business disruptions. With regard to client assets, nearly all physical securities are held in central depositories or custodian banks. This allows Clearview and its clients a higher level of liquidity and security of their assets in any type of business disruption.
The following are some very important guidelines that you can use in the event our Firm is operating under emergency conditions:
- Primary contact: Your Customer Relationship Manager
- Secondary Contact: Information regarding the status of Clearview can be found on our website, www.ClearviewCS.com
- Tertiary Contact: The Firm has the ability to establish a Client Crisis Hotline to be utilized during emergency situations. This number may be posted here during an actual emergency
Clearview values its clients and is committed to servicing their financial needs throughout a disruption. Clearview is equally committed to remaining in compliance with all federal and self-regulatory organization rules and regulations.
Clearview has taken significant steps to strengthen its Business Continuity Plans; however it cannot guarantee that all systems will be immediately available following a significant business disruption. Nonetheless, our clients can be assured the employees of Clearview are committed to resuming all business operations as quickly as possible and continuing our service in a professional and courteous manner.
Clearview will update its Business Continuity Plan and this Statement as circumstances dictate.
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Clearview Correspondent Services Consumer Privacy Notice
Clearview Correspondent Services, LLC's ("Clearview") privacy policy is designed to protect the privacy of current or former customers of Clearview's introducing broker-dealers. When you opened a brokerage account with a broker-dealer for whom Clearview clears transactions on a fully disclosed basis that broker-dealer transmitted nonpublic personal information about you and your account to Clearview for the sole purpose of enabling Clearview to service your account for the introducing broker-dealer.
This Privacy Notice is presented to you pursuant to the requirements of Regulation S-P, 17 CFR 248.1 et al., promulgated by the U.S. Securities and Exchange Commission under Title V of the Gramm-Leach-Bliley Act, codified as 15 U.S. 6801-6831.
The nonpublic personal information which identifies you or your account is hereafter referred to as "personal information." Clearview places the highest value on safeguarding the privacy of the personal information we receive about you.
Categories of Information We May Collect
In order to provide clearing services for the introducing broker-dealer with which you have an account, we may collect the following categories of personal information about you:
- Information we receive from you on applications, personal financial statements, and other oral, written, or electronic communications, such as your name, address, social security number, assets and income;
- Information about your transactions with us or affiliated companies, such as your account balance and transaction history;
- Information we receive from third parties, including persons providing services in connection with your transactions and credit bureaus, such as your credit history;
- Information we obtain from others to verify information provided by you, such as your employment history and credit history or other relationships with third parties; and
- Information collected from our Internet web sites, such as information you provide to us and information necessary to manage your online session with us.
Disclosure of Information to Third Parties - To the extent permitted or required by law, we may share the personal information we collect with the following entities:
- Clearview corporate affiliates including internal service providers (for example, our data processing and printing operation);
- Unaffiliated service providers;
- Government agencies, other regulatory bodies and law enforcement officials in response to subpoenas or other governmental information requests;
- Other organizations, as permitted by law (for example, for fraud prevention).
If you close your accounts with an introducing broker that clears transactions through us or your relationship with that broker becomes inactive, we will continue to treat the information we have collected about you in accordance with this Notice.
Our Security Procedures - We maintain physical, electronic, and procedural safeguards that comply with federal guidelines to safeguard personal information. Our employees are bound by our Code of Ethics and policies to access consumer information only for legitimate business purposes and to keep information about you confidential.
Other Privacy Protections - You may have other privacy protections under some state laws. We will comply with applicable state laws as to your personal information. For example, certain state laws may restrict the types of information we may disclose about you or require us to provide you with an additional notice.
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Options Disclosure
Pursuant to FINRA Rule 2860(b)(11), the firm wants to ensure that all customers engaged in option trading are made aware of recent updates to the Characteristics and Risks of Standardized Options Disclosure Document (the "ODD"). All supplemental information should be read in conjunction with the current ODD. Please visit the following website to obtain and read the ODD and most recent supplemental updates: http://www.optionsclearing.com/about/publications/character-risks.jsp
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Auction Rate Securities
Clearview Correspondent Services, LLC acts as the clearing firm for the brokerage firm servicing your account. The market for Auction Rate Securities has recently experienced great change. Although Auction Rate Securities continue to be priced at par, changing market conditions may value these securities at above or below par. Additional information concerning Auction Rate Securities may be obtained by contacting your financial advisor at the firm servicing your account.
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GSE Offering Disclosure
Offering materials on Government Sponsored Enterprise securities may be obtained at the following websites:
Farm Credit Banks Funding Corp
Freddie Mac
Fannie Mae
Federal Home Loan Bank
If you wish to opt out of Electronic Delivery, please contact your Introducing Firm.
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Electronic Municipal Market Access ("EMMA")
The Electronic Municipal Market Access system, or EMMA, is a comprehensive, centralized
online source for free access to municipal disclosures, market transparency data
and educational materials about the municipal securities market. EMMA is specifically
designed for retail, non-professional investors who may not be experts in financial
or investing matters.
Please click on the following link to access the EMMA system:
http://emma.msrb.org/Default.aspx
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