Business Continuity Plan Disclosure
Pursuant to FINRA Rule 4370, in the event of a significant business interruption, Prager & Co., LLC (the “Firm”) and its clearing firm (Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation) have developed business continuity plans in order to protect the interests of our clients. This Disclosure summarizes our Firm’s plan to minimize the risks associated with a disruption to our facilities.
Our clearing firm has developed their own business continuity plan. Pershing’s disclosure (pp. 18-19) is available along with specific instructions here; alternatively, you may contact Pershing at (201) 413-3635 and you will be given recorded instructions.
Communications with our Clients and Employees in the event of a Disruption
In the event of a significant business disruption, clients may continue to contact us by telephone at (415) 403-1900 or (212) 661-6600; by email; or by fax at (415) 956-4789 or (212) 661-2805. General information concerning the outage will be available by telephone and on the internet at the Firm’s website, www.prager.com.
The Firm has established plans to ensure the safety and well being of our employees. Employees have received emergency plan instructions, and supervisors in each office retain copies of the Business Continuity Plan.
Mission Critical Information Systems and Office Relocation for Trading, Sales and Operations
The Firm has identified its mission critical systems and applications, some of which are supported by our clearing firm’s business continuity plan and other vendors. The Firm maintains its trading, sales, operations and information technology platforms in geographically distant locations. In addition, backup facilities are also kept at geographically distant locations. In the event that the primary facility has an outage exceeding an established time threshold, personnel and functions will be relocated to such alternative facilities.
The Firm has plans for routinely testing and updating our systems as deemed necessary.
Clients may request a copy of our Business Continuity Plan, which will be furnished upon request.