This Web site is for informational purposes only. This publication is under no circumstances a solicitation of an offer to buy or an offer to sell any securities. Please see your investment executive for specific recommendations.
Information made available from third parties on this site is provided on an “as is” basis. Bay Mutual Financial, LLC does not warrant the accuracy, timeliness or completeness of the information provided.
Member: SIPC (Securities Investor Protection Corporation)
Customer Identification Program Notice
Important Information You Need To Know
About Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, federal law requires financial institutions to obtain, verify and record information that identifies each person who opens an account.
This Notice answers some questions about Bay Mutual Financial’s Customer Identification Program.
What types of information will you need to provide?
When you open an account, we are required to collect information such as the following from you:
Date of Birth
US Citizen: taxpayer identification number (social security number or employer identification number).
Non-US Citizen: taxpayer identification number, passport number and country of issuance, alien identification card number, or government-issued identification showing nationality, residence and a photograph of you.
You may also need to show your driver’s license or other identifying documents.
A corporation, partnership, trust or other legal entity may need to provide other information, such as its principal place of business, local office, employer identification number, certified articles of incorporation, government-issued business license, a partnership agreement, or a trust agreement.
US Department of the Treasury, Securities and Exchange Commission, and New York Stock Exchange rules already require you to provide most of this information. These rules may also require you to provide additional information, such as your net worth, annual income, occupation, employment information, investment experience and objectives, and risk tolerance.
What happens if you don’t provide the information requested or your identity cannot be verified?
Bay Mutual Financial may not be able to open an account or carry out transactions for you. If Bay Mutual Financial has already opened an account for you, it may have to be closed.
We thank you for your patience and hope that you will support the financial industry’s efforts to deny terrorists and money launderers access to America’s financial system.
Bay Mutual Financial is a member of the Securities Investor Protection (“SIPC”), which 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 as futures, foreign exchange transactions, or any investment contracts that are not registered as securities.
Bay Mutual Financial submits all equity orders to its clearing firm, Pershing LLC, for execution. Bay Mutual Financial receives no payment for directing order flow to Pershing LLC.
SEC Rule 606 (formerly SEC 11Ac1-6)
Disclosure of Order Routing Practices
Pershing LLC (“Pershing”) has provided the data on this website on behalf of your introducing financial organization. The data represents only those orders that have been routed by your introducing financial organization through Pershing for execution. Although Pershing has used commercially reasonable efforts to provide accurate information, the data is provided to you on an “as is” basis. PERSHING SPECIFICALLY DISCLAIMS ALL WARRANTIES EXPRESS OR IMPLIED WITH RESPECT TO THE INFORMATION, INCLUDING SPECIFICALLY, BUT NOT EXCLUSIVELY, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. YOU AGREE THAT PERSHING SHALL NOT HAVE ANY LIABILITY FOR ANY INDIRECT, CONSEQUENTIAL, SPECIAL OR DIRECT DAMAGES FOR ANY ACTION OR INACTION WHICH YOU MAY TAKE AS THE RESULT OF THE DATA, WHETHER AS A RESULT OF ANY CLAIM SOUNDING IN CONTRACT OR ANY OTHER THEORY OF LIABILITY.
Please go to www.orderroutingdisclosure.com to view order execution detail for Bay Mutual Financial and enter BAY MUTUAL FINANCIAL LLC in the search box (must be all-caps).
Margin Disclosure Statement
Your firm is furnishing this document to you to provide some basic facts about purchasing securities on margin, and to alert you to the risks involved with trading securities in a margin account. Before trading stocks in a margin account, you should carefully review the margin agreement provided by your firm. Consult your firm regarding any questions or concerns you may have with your margin accounts.
When you purchase securities, you may pay for the securities in full or you may borrow part of the purchase price from your firm. If you choose to borrow funds from your firm, you will open a margin account with the firm. The securities purchased are the firm’s collateral for the loan to you. If the securities in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account.
It is important that you fully understand the risks involved in trading securities on margin. These risks include the following:
You can lose more funds than you deposit in the margin account. A decline in the value of securities that are purchased on margin may require you to provide additional funds to the firm that has made the loan to avoid the forced sale of those securities or other securities or assets in your account(s).
The firm can force the sale of securities or other assets in your account(s). If the equity in your account falls below the maintenance margin requirements, or the firm’s higher “house” requirements, the firm can sell the securities or other assets in any of your account held at the firm to cover the margin deficiency. You also will be responsible for any short fall in the account after such a sale.
The firm can sell your securities or other assets without contacting you. Some investors mistakenly believe that a firm must contact them for a margin call to be valid, and that the firm cannot liquidate securities or other assets in their accounts to meet the call unless the firm has contacted them first. This is not the case. Most firms will attempt to notify their customers of margin calls, but they are not required to do so. However, even if a firm has contacted a customer and provided a specific date by which the customer can meet a margin call, the firm can still take necessary steps to protect its financial interests, including immediately selling the securities without notice to the customer.
You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call. Because the securities are collateral for the margin loan, the firm has the right to decide which security to sell in order to protect its interests.
The firm can increase its “house” maintenance margin requirements at any time and is not required to provide you advance written notice. These changes in firm policy often take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause the member to liquidate or sell securities in your account(s).
You are not entitled to an extension of time on a margin call. While an extension of time to meet margin requirements may be available to customers under certain conditions, a customer does not have a right to the extension.