SETTLEMENT: All securities sold and payment for all securities bought must be delivered by the settlement date (typically 3 business days) indicated on the confirmation issued for each trade. Similarly, the proceeds of any sale will be credited to your account or remitted by check on the settlement date per your instructions.
- DELIVERY: WHEN MAILING CHECKS OR SECURITIES PLEASE REMEMBER TO: ATTACH COPY OF YOUR CONFIRMATION & WRITE YOUR ACCOUNT NUMBER ON THE UPPER RIGHT HAND CORNER OF CHECK &/OR SECURITY.
- MAKE ALL CHECKS PAYABLE TO: COR Clearing
- MAIL ALL CHECKS OR SECURITIES DIRECTLY TO:
Light Capital Group, LLC
48 Wall Street
New York, NY 10005
GOOD TIL CANCELLED (GTC) BUY, SELL STOP, SELL STOP LIMIT ORDERS: All GTC (also known as an Open Order orders remain in effect until canceled or executed.
CLEARING FIRM/ Joseph Stone Capital., FUNCTIONS:
We would like you to understand the different functions performed by our firm and those of our clearing agent, ROC is a member of the NYSE, AMEX, CHX, CBOE and PSE and has execution capabilities on all principal exchanges. COR Clearing's parent, COR Securties Holdings Inc
Securities are offered through Joseph Stone Capital., member FINRA and SIPC. Joseph Stone Capital has a contractual agreement with COR to serve as our clearing firm. This fully disclosed agreement states the responsibilities of each party. Prior to the agreement becoming effective, RBC CS is responsible for seeking approval of the clearing arrangement as required by NYSE Rule 382. Each client of our firm is notified of the relationship via a disclosure letter by us during the account opening process. The disclosure letter details the responsibilities that our firm (Global Arena Capital Corp., the introducing broker-dealer) and RBC CS (the clearing firm) have to the client. Although client assets are held by COR, neither COR has responsibility for the financial condition or performance of our firm or our Financial Consultants.
In general, we provide front-office services and the clearing firm performs back-office or operation type functions. Our front-office services include such matters as the opening and approval of accounts, the acceptance and transmittal of orders by Light Capital Group, LLC, and personnel for execution on the various markets according to instruction, etc. Additionally, it is our exclusive function to supervise all personnel directly or indirectly involved with your securities transactions and all your business handled by our personnel in light of applicable rules and regulations, which govern the securities industry.
PAYMENT FOR ORDER FLOW DISCLOSURE: Light Capital Group, LLC offering securities through Joseph Stone Capital does not receive payment for order flow.
The Securities and Exchange Commission requires that all registered broker-dealers disclose their policies regarding receipt of payment for order The Commission defines payment for order as any monetary payments, services, property, or other benefits that result in remuneration, compensation, or consideration to a broker or dealer from any broker or dealer, national securities exchange, registered securities association, or exchange member for execution, including but not limited to research, clearance, custody, products or services, reciprocal agreements for the provision of order flow adjustment of a broker or dealer unfavorable trading errors, effort to participate as underwriter in public offerings; stock loans or shared interest accrued thereon; discounts, rebates, or any other reduction of or credits against any fee to, or expense or other financial obligation of, the broker or dealer routing a customer order that exceeds that fee, expense or financial obligation.
INVESTMENT OBJECTIVES DEFINITIONS
Below please find a general description of Investment Objective Definitions related to the Investment Objective(s) you choose on the Account Application.
Preservation of Principal/Income Focus is on preservation of principal and income.
Balanced/Conservative Growth Focus is on generating current income and/or long-term growth.
Growth Focus is on generating long-term growth of capital.
Aggressive Growth Focus is on generating growth and/or income with a willingness to assume a high level of risk.
Speculation Focus is on generating highest potential growth and/or income with a willingness to assume highest level of risk.
OPTIONS ON MARGIN REQUIREMENTS
Minimum-equity is $50,000. Depending on your positions, the minimum equity requirement may even be higher. Further, there is a minimum liquid net worth requirement. Please check with your account executive for details.
TRADING HALTS / CIRCUIT-BREAKERS
Significant problems may arise when market-wide circuit-breakers halt trading on exchanges. Broker-dealers and their customers are confronted with trading halts, thereby obviating trading for a period of time. When circuit- breakers halt trading, we make every effort to post a timely notice on our website.
The SEC provided the following guidelines concerning order handling:
1. During market-wide trading halts resulting from the triggering of circuit-breakers, customer orders should be handled in the same manner as they would have been handled during other regulatory trading halts concerning only individual stocks.
2. During market-wide trading halts of durations that will allow trading to resume on that same trading day, pending and new customer orders should be forwarded to the appropriate market for execution upon the resumption of trading. This should be done unless the member receives contrary instructions from the customer during the halt.
3. During market-wide trading halts with durations that will close the market for the remainder of the trading day, pending and new customer orders should be treated as follows:
Absent customer instructions to the contrary, orders that are pending at the time of the halt, and new orders received after the halt has commenced, should be treated as Good Til Cancelled orders and be held by the member for execution at the reopening of the next trading session.
At-the-Close orders (including Market-at-Close orders) pending at the time trading is halted should be treated as cancelled orders. Members should not accept, or forward to a market, any new orders related to closing prices received during a trading halt.
TRADING / VOLATILITY / RISKS
Recent events show that the way some stocks are traded is changing dramatically, and the change in trading methods may affect price volatility and cause increased trading volume. The price volatility and increased volume present new hazards to investors, regardless of whether trading occurs on-line or otherwise. Please be advised that market orders in highly volatile stocks may be subject to wide price variation and late reporting. Given this enormous volatility, the buy or sale execution price may vary widely from the quote reflected to you at the time of your order. You may wish to consider placing limit orders during these periods to help protect you against these fast and unpredictable variations in price. Quotes given on these issues are subject quotes and may not accurately reflect the current price as the market is changing so violently. If you do not fully understand the current market in any of these securities you are urged to call your broker for clarification. Further please note that if you have a margin account, these volatile stocks currently require 50% maintenance. Please check often with our Operations department to determine if there are any changes to the margin requirement for any issues in your account.
EXCESS SECURITIES INVESTOR PROTECTION CORP INSURANCE COVERAGE
Global Arena Capital Corp. is a member of SIPC, which protects securities of customers of its members up to $500,000 (including $100,000 for claims of cash). Both SIPC and the additional coverage provides protection in the event of a member firm failure and do not insure against market decline.
RBC Capital Markets has purchased an additional policy from Lloyds of London. The policy provides an additional $99.5 million per client of coverage for securities above that provided by SIPC. This includes protection for cash of up to $900,000 over the $100,000 provided by SIPC. A $400 million aggregate limit applies to this additional coverage. Neither SIPC protection, nor the protection in excess of that provided by SIPC, covers a decline in the value of a customer assets due to market loss. SIPC explanatory brochure is available upon request at (202) 371-8300 or at www.sipc.org.
Light Capital Group, LLC and Global Arena Capital Corp. archives and reviews outgoing and incoming e-mails. It may be produced at the request of regulators or in connection with civil litigation.
ACCESSING YOUR ACCOUNT ONLINE
We strongly urge you to request access to your account online. Go to www.investor-connect.com. Ask your financial consultant.
MUTUAL FUNDS BREAKPOINT DISCOUNTS
Before investing in mutual funds, it is important that you understand the sales charges, expenses, and management fees that you will be charged, as well as the breakpoint discounts to which you may be entitled. Understanding these charges and breakpoint discounts will assist you in identifying the best investment for your particular needs and may help you reduce the costs of your investment. You should contact your financial consultant to obtain a free Disclosure Statement. You may also visit the FINRA website www.finra.org for additional information.
FEE AND CHARGES
You understand that Joseph Stone Capital may charge and collect commissions and other fees for executions, and any other services to you, and you agree to pay such commissions and fees at the prevailing rates. You understand further that such fees may be charged from time to time, including an annual service and/or inactivity fee disclosed with your account statement, and you agree to be bound thereby.
Fees and charges are subject to change, and may vary by branch office. Check with your financial consultant.
FINRA WEB SITE
For more information on the firm and/or its registered representatives, visit the FINRA web site @ www.finra.org. For additional information and/or to file a grievance concerning your account with our firm, you may contact our Compliance and or Operations Department at 866-866-1433 or write to (Compliance Department) at our main office headquarters Joseph Stone Capital LLC Mineola NY 11501