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North Ridge Securities Corp.'s Business Continuity Planning
North Ridge Securities Corp. has developed a Business Continuity Plan to ascertain 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 the following information on our business continuity plan.
Contacting Us
If after a significant business disruption you cannot contact us as you usually do at (631) 420-4242, you should call our alternative number (516) 528-9870 or send us an email at DanLevy@northridgesecurities.com or DRL7@aol.com. If you cannot access us through either of those means, you should contact our clearing firm, (Pershing LLC, at 201-413-4855) to learn how it may provide prompt access to funds and securities, enter orders and process other trade-related, cash, and securities transfer transactions.
Our Business Continuity Plan
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Our business continuity plan addresses: data back up 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 and bank impact; regulatory reporting; and the assurance that our customers will have prompt access to their funds and securities if we are unable to continue our business.
Our clearing firm, Pershing LLC, 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 their objectives are to restore their own operations and be able to complete existing transactions and accept new transactions and payments within a reasonable time.
Varying Disruptions
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 a local site when needed and expect to recover and resume business within one or two business days. 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 seven business days. In either situation, we plan to continue in business, transfer operations to our clearing firms if necessary, and notify you through US Mail, email, this web site (www.northridgesecurities.com) or our customer emergency number, (516) 528-9870, on 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.
For more information
If you have questions about our business continuity planning, you can contact us at (631) 420-4242.