Important Information about our Business Continuity Plan
Shoreline 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.
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 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.
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 agent that its objective is to restore its own operations and be able to complete existing transactions and accept new transactions and payments.
Varying Disruptions
Significant business disruptions can vary in their scope, affecting 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 a relatively short period of time. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area to recover and resume business. In either situation, we plan to continue in business and will notify you through our web site www.shorelinetrading.com 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.
Because the cause, effect or length of such business interruptions cannot be determined with certainty, you, the customer, must also plan in advance your actions which can mitigate and minimize any adverse effect such an interruption may cause. The customer assumes any liability associated with such interruptions. Adequate customer planning will include maintaining current account records as well as taking steps to gain an understanding of how to maintain critical communications with Shoreline in the event of a business interruption. Additionally, the customer should be aware that such information is subject to constant updating.
Contacting Us
If after a significant business disruption you cannot contact us as you usually do, please follow the instructions below:
Check our website at www.shorelinetrading.com for any pertinent information.
- Should a local or regional event affect New York City, please call our
headquarters on the West Coast in El Segundo,
California at
(310) 536-8670. If you can’t reach the El Segundo office, please try our Santa Monica, California office at (310) 573-8511.
- Should a local or regional event affect our West Coast offices, please
call our New York office toll free at (800) 499-7484
or at (917) 512-7250 or (212) 433-5362.
- Should an event affect all of Shoreline’s offices, please contact our
representatives at either of our clearing agents:
For accounts carried through Goldman Sachs Execution & Clearing, L.P., please call (212) 357-2266 for liquidating orders only.
For accounts carried through J.P. Morgan Clearing Corp., please call (212) 552-1919 for liquidating, check and wire requests, and ACAT transfers only.
SIPC Protection
Shoreline, a member of the Securities Investor Protection Corporation
("SIPC"), provides account protection for the net equity of a
customer’s funds and securities positions. SIPC provides $500,000 of
primary net equity protection, including $100,000 for claims
for cash ("SIPC Coverage"). Visit www.sipc.org for more information
about SIPC Coverage.
Account protection applies when a SIPC member firm fails financially and
is unable to meet its obligations to its securities
customers, but does not apply to losses from the rise or fall in the
market value of investments or to SIPC ineligible assets such a
futures, options on futures, foreign exchange transactions, or any
investment contracts that are not registered as securities. For
more information about SIPC Coverage, including the SIPC Brochure, visit
www.sipc.org (follow the link to "How SIPC Protects
Investors") or by calling SIPC at (202) 371-8300.
If SIPC determines that we are unable to meet our obligations to our
customers or if our liabilities exceed our assets in violation of
Securities Exchange Act Rule 15c3-1, SIPC may seek to appoint a trustee
to disburse our assets to customers. We will assist SIPC
and the trustee by providing our books and records identifying customer
accounts subject to SIPC regulations.
Los Angeles
310-536-8670Santa Monica
310-573-8511New York
212-201-3600
