Business Continuity Plan Disclosure Statement
Newbridge Securities has a Business Continuity Plan that outlines how we will respond to events that significantly disrupt our business. Since the timing and or impact of disasters and disruptions are unpredictable, we must be flexible when responding to actual events as they occur. With that in mind, we are providing you with this general information on our business continuity plan.
Contacting Us – If after a significant business disruption you cannot contact us as you usually do at 954-334-3450, you should call our alternative number 877-447-9625 or go to our web site at www.newbridgesecurities.com and look for important messages on our Home Page. If you cannot access us through any of those means, you should contact the clearing firm that maintains your account Axos Clearing, LLC. (“Axos”), at 866-774-0218, for instructions on how it may provide prompt access to your funds and securities, enter orders and process other trade-related, cash and security transfer transactions.
Our Business Continuity Plan – 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, given the scope and severity of the significant business disruption.
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 suppliers, contractors, banks and material counter-parties, regulatory reporting, and assuring our customers prompt access to their funds and securities if we are unable to continue our business.
Our clearing firm, Axos, 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 their objectives are to restore their own operations and be able to complete existing transactions and accept new transactions and payments within a day. The processing of your securities orders, requests for funds and other securities related requests could be delayed during this period.
Varying Disruptions – Significant business disruptions can vary in their scope. Such disruptions may only impactour 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. It may also impact the entire financial sector or the country as a whole. 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 a 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 a day. 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.newbridgesecurities.com or our customer emergency number, 877-447-9625, how to contact us. If the 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. It is important to note that we are a fully disclosed broker dealer which means that your cash and securities are safeguarded by AXOS and your accounts are insured under the SIPA of 1976 and by the insurance provided by The Securities Investor Protection Corporation, and additional insurance which may be provided by our clearing firm.
For more information – If you have questions about our business continuity planning, you can contact us at 954-334-3450.
November 1, 2020