Cain Brothers Disclosure Statement regarding Significant Business Disruption (SBD) Cain Brothers maintains a Business Continuity Plan to be implemented in the event it experiences a Significant Business Disruption from any cause. The plan is reviewed and updated each year and, taken in concert with its clearing agent’s plan, is designed to provide business continuity for Cain Brothers’ clients. Cain Brothers conducts all its sales, trading and underwriting from its main office at 360 Madison Avenue, New York NY 10017. Cain Brothers clears all its securities transactions through Pershing on a fully disclosed basis and neither Cain Brothers nor Pershing on its behalf holds cash or securities for any of Cain Brothers’ clients. If there should be a business disruption, Cain Brothers will establish contact with Pershing to advise it of our disruption. Any of our clients who are unable to contact Cain Brothers at (212) 869-5600 may call our Chicago office (312) 456-3367 and, if necessary, contact Pershing directly at (213) 624-6100, extension 500.
Pershing, for the benefit of its internal clients and its correspondent clients (including Cain Brothers) maintains a business continuity plan, including redundant data centers and alternate processing facilities, to address interruptions to its business. Their plan is reviewed annually and updated as necessary. The Pershing plan outlines the actions Pershing will take in the event of a building, citywide, or regional incident, including relocating technology and operational personnel to pre-assigned alternate regional facilities. Its data processing can also be switched to an alternate regional data center.
All Pershing operational facilities are equipped for resumption of business and are tested several times per year. The recovery time objective for business resumption is four hours. This is the objective for recovery, but it may be affected negatively by the unavailability of external resources and/or circumstances beyond Pershing’s control. As a correspondent of Pershing, we at Cain Brothers will be similarly affected by anything that will delay their business resumption.