I. Emergency Contact Persons
II. Firm Policy
Our firm's policy is to respond to a Significant Business Disruption (SBD) by safeguarding employees' lives and firm property, making a financial and operational assessment, quickly recovering and resuming operations, protecting all of the firm's books and records, and allowing our customers to transact business. In the event that we determine we are unable to continue our business, we will assure customers prompt access to their funds and securities.
A. Significant Business Disruptions (SBDs)
B. Approval and Execution Authority
C. Plan Location and Access
III. Business Description
Our firm conducts business in equity, fixed income, and derivative securities. Our firm does not perform any type of clearing function for itself or others. We do not hold customer funds or securities. We do not enter orders. All transactions are sent to the clients' chosen broker-dealer firms who then sends the orders to their clearing firms, which executes, compares, allocates, clears, and settles our orders. The broker-dealers and their clearing firms maintain our customers' accounts, can grant customers access to them, and delivers funds and securities.
IV. Office Location(s)
Our office is located at 180 North LaSalle Street, Suite 2100, Chicago, IL 60601-2701. Our main telephone number is (312) 372-5000. Our employees may travel to that office by means of car, subway, train, bus, boat, and taxi. We engage in order taking, money management, and order placement at this location.
V. Alternative Physical Location(s) of Employees
In the event of an SBD, we will move our staff from affected office to 1035 N Dearborn Streer, 14W, Chciago, IL 60601. If this location is unavailable to receive our staff, we will move them to 249 Spruce Lane, Chicago Heights, IL 60411-2030. The telephones will be immediately redirected to those locations. Therefore, the phone number will remain (312) 372-5000.
VI. Customers' Access to Funds and Securities
Our firm does not maintain custody of customers' funds or securities, which are maintained at their chosen broker-dealers and/or their clearing firms. In the event of an internal or external SBD, if telephone service is available, our investment adviser representatives will take customer orders or instructions and contact their broker-dealers on their behalf, and if our Web access is available, our firm will post on our Web site that customers may access their funds and securities by contacting David E. Woods or Kenneth N. Green at (312) 372-5000 or (708) 829-4792. The firm will make this information available to customers through its disclosure policy.
VII. Data Back-Up and Recovery (Hard Copy and Electronic)
Our firm maintains its primary hard copy books and records and its electronic records at 180 North LaSalle Street, Suite 2100, Chicago, Illinois 60601-2701. Marc J. Lane, President, (312) 372-5000 and/or his assigns is responsible for the maintenance of these books and records. Our firm maintains the following document types and forms:
A. Company Financial Records
Our firm maintains its back-up hard copy books and records at ???????????????. These records are paper copies of financial records. ??????????, an independent CPA maintains these copies. ??????????? telephone is ?????????????. Our firm backs up its paper records by copying and taking them to our back-up site. We back up these records every month.
The firm backs up its electronic records daily via data tape back up. These tapes are kept at 249 Spruce Lane, Chicago Heights, Illinois, 60411-2030 and are recycled monthly.
In the event of an internal or external SBD that causes the loss of our paper records, we will physically recover them from our back-up site. If our primary site is inoperable, we will continue operations from our back-up site or an alternate location. For the loss of electronic records, we will either physically recover the storage media or electronically recover data from our back-up site, or, if our primary site is inoperable, continue operations from our back-up site or an alternate location.
VIII. Financial and Operational Assessments
A. Operational Risk
Operational risk includes the firm's ability to maintain communications with customers and to retrieve key activity records through its mission critical systems.
In the event of an SBD, we will immediately identify what means will permit us to communicate with our customers, employees, critical business constituents, critical banks, critical counter-parties, and regulators. Although the effects of an SBD will determine the means of alternative communication, the communications options we will employ will include our web site (www.marcjlane.com), telephone voice mail special announcement number ((312) 334-6920), and secure email (firstname.lastname@example.org) systems. In addition, we will retrieve our key activity records as described in the section above, Data Back-Up and Recovery (Hard Copy and Electronic).
B. Financial and Credit Risk
In the event of an SBD, we will determine the value and liquidity of our investments and other assets to evaluate our ability to continue to fund our operations. We will contact our clients' broker-dealers, critical banks, and investors to apprise them of our financial status. If we determine that we may be unable to meet our obligations to those counter-parties or otherwise continue to fund our operations, we will request additional financing from our bank or other credit sources to fulfill our obligations to our customers and clients.
IX. Mission Critical Systems
Our firm's "mission critical systems" are those that calculate allocation, the maintenance of customer accounts, access to customer accounts, etc. More specifically, these systems include:
We have primary responsibility for establishing and maintaining our business relationships with our customers and have sole responsibility for our mission critical functions of managing the clients' portfolios.
We will verify that the clients' broker-dealers, and if applicable, the broker-dealers' clearing firms, maintain a business continuity plan and the capacity to execute that plan. We will also ask that the broker-dealer firms and their clearing firms, if necessary, advise us of any material changes to their plan that might affect our ability to maintain our business.
Recovery-time objectives provide concrete goals to plan for and test against. They are not, however, hard and fast deadlines that must be met in every emergency situation, and various external factors surrounding a disruption, such as time of day, scope of disruption, and status of critical infrastructure-particularly telecommunications-can affect actual recovery times. Recovery refers to the restoration of account management and communications with client and their broker-dealer. Our anticipated recovery time is 4 hours.
A. Our Firm's Mission Critical Systems
1. Advent Axys
During an SBD, either internal or external, we will download the most current backup of our Advent Axys data onto the backup PC located at ??????????????????.
X. Alternate Communications Between the Firm and Customers, Employees, and Regulators
We now communicate with our customers using the telephone, e-mail, our Web site, fax, U.S. mail, and, at times, in person visits at our firm. In the event of an SBD, we will assess which means of communication are still available to us, and use the means closest in speed and form (written or oral) to the means that we have used in the past to communicate with the other party. For example, if we have communicated with a party by e-mail but the Internet is unavailable, we will call them on the telephone and follow up where a record is needed with paper copy in the U.S. mail.
We now communicate with our employees using the telephone, e-mail, and in person. In the event of an SBD, we will assess which means of communication are still available to us, and use the means closest in speed and form (written or oral). Senior management will be responsible for contacting all employees quickly during an SBD.
Employee SBD Telephone Number
We communicate with the U.S. Securities Exchange Commission (SEC) using the telephone, e-mail, fax, U.S. mail, and in person. In the event of an SBD, we will assess which means of communication are still available to us, and use the means closest in speed and form (written or oral) to the means that we have used in the past to communicate with the other party.
XI. Critical Business Constituents, Banks, and Counter-Parties
A. Business constituents
We have contacted our critical business constituents (businesses with which we have an ongoing commercial relationship in support of our operating activities, such as vendors providing us critical services), and determined the extent to which we can continue our business relationship with them in light of the internal or external SBD. We will quickly establish alternative arrangements if a business constituent can no longer provide the needed goods or services when we need them because of a SBD to them or our firm.
We have contacted our banks and lenders to determine if they can continue to provide the financing that we will need in light of the internal or external SBD. The bank maintaining our operating account is:
Bank of America
Contact: Rosanna Shoen
If our banks and other lenders are unable to provide the financing, we will seek alternative financing immediately from the private funds of Mr. and Mrs. Marc J. Lane.
XII. Regulatory Reporting
Our firm is subject to regulation by the SEC and the securities departments for Arizona, Illinois, Indiana, Michigan, Washington, and Utah. We now file reports with our regulators using paper copies in the U.S. mail, and electronically using fax, e-mail, and the Internet. In the event of an SBD, we will check with the SEC and the other regulators to determine which means of filing are still available to us, and use the means closest in speed and form (written or oral) to our previous filing method. In the event that we cannot contact our regulators, we will continue to file required reports using the communication means available to us.
Merri Jo Gillette, Regional Director
XIII. Disclosure of Business Continuity Plan
We provide in writing a BCP disclosure statement to customers at account opening. We also post the disclosure statement on our Web site and mail it to customers upon request. Our disclosure statement is attached.
XIV. Updates and Annual Review
Our firm will update this plan whenever we have a material change to our operations, structure, business or location. In addition, our firm will review this BCP annually, in January of each year, to modify it for any changes in our operations, structure, business, or location.
XV. Senior Manager Approval
I have approved this Business Continuity Plan as reasonably designed to enable our firm to meet its obligations to customers in the event of an SBD.
Date: March 10, 2005
MARC J. LANE INVESTMENT MANAGEMENT, INC.
Contacting Us - If after a significant business disruption you cannot contact us as you usually do at (312) 372-5000, you should call our alternative number (708) 829-4792 or go to our web site at www.marcjlane.com.
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 Marc J. Lane Investment Management, Inc.'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 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, 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, it is our objective to restore our operations and be able to complete existing transactions and accept new transactions and payments within 4 hours. Your orders and requests for funds and securities could be delayed during this period.
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 4 hours. 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 24 hours. In either situation, we plan to continue in business and notify you through our web site www.marcjlane.com, our customer emergency number, (312) 334-6920, or our customer emergency email address, email@example.com. 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:
Marc J. Lane Investment Management, Inc.
Or by calling:
Title: Chief Executive Officer
Date: May 1, 2008
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