M&T Bank : Business Continuity Plan Disclosure
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Business Continuity Plan Disclosure

M&T Securities, Inc. (“MTS”) has developed a Business Continuity Plan (“BCP”) addressing how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions are unpredictable, our BCP is designed to allow the greatest amount of flexibility possible in responding to events, while simultaneously minimizing the impact of such occurrences on our
customers. This summary is intended to provide you with relevant facts about our BCP, including critical contact information for accessing your account if we are required to cease business operations.

Varying Disruptions

Significant business disruptions can vary in their scope, impacting only
MTS, a business district and/or city where MTS is located, or the entire
region within which MTS operates. Within each of these areas, the
severity of the disruption can also vary from minimal to severe, and
thus our response to any negative development must be tailored to meet
the unique circumstances surrounding the event(s) in question.

In order to minimize the impact of a significant business disruption, we have available the following options:

  • For disruptions affecting one of our operations centers, we will shift all of our business activities to the alternate location. MTS uses two separate operations centers (one in Buffalo, New York and the other in Williamsport,Pennsylvania). Each of these centers performs the full range of operational duties on a daily basis; as a result, should it become necessary to route all activities through one location, we anticipate an immediate resumption of normal business activity with little or no impact on our customers.

          - Through the alternate location MTS would be able to deal with its critical
             business constituents through normal operation channels.
          - Through the alternate location MTS would be able to communicate with
             regulators and complete any and all required regulatory reporting.

  • For disruptions limited to a particular building(s), you will be directed to the nearest branch location in order to conduct your desired account transactions. In lieu of traveling to an alternate site to transact business, you may also contact us at 1-800-724-7788 to initiate account activity (please consult “Contacting Us” below for additional information). For disruptions limited to specific locations, we anticipate an immediate resumption of normal business activity.

          - All branches have the capability to access one of the operations centers
            where MTS would be able to deal with its critical business constituents in
            order to conduct business through normal operation channels with little or no
            impact on the services provided.

  • For significant business disruptions so severe that they prevent us from remaining in business, you will be required to contact either Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation (“Pershing”), or your individual fund company/annuity carrier in order to access your account. It is difficult to predict the amount of time that would be required to resume normal business as a result of disruptions of this magnitude, as the event that requires MTS to cease operations may also simultaneously impact Pershing and/or your fund company/annuity carrier. Please consult "Contacting Us” below for additional information.

Our Business Continuity Plan
We plan to quickly recover and resume business operations after a significant business disruption, and to respond by safeguarding our employees and property, making a financial and operational assessment, protecting the firm’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. Please note that it is impossible to predict all possible disruptions, and that recovery times will depend on a number of different factors, including the scope and severity of the significant business disruption.

Our BCP addresses: data back up and recovery; all mission critical systems; financial and operational assessments; alternate communications with customers, employees, and regulators; alternate physical locations for 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.

Our clearing firm, Pershing, backs up our important records in a geographically separate area. While every emergency situation poses unique problems based on external factors (such as the time of day and the severity of the disruption) we have been advised by our clearing firm that its objective is to restore its own operations and be able to complete existing transactions and accept new transactions and payments within 48 hours. Your orders and requests for funds and securities could be delayed during this period.

We intend to continue to devote resources to the further development and modification of our BCP, and we may subsequently enter into arrangements with other firms and/or third parties to perform certain functions in the event of a disruption. The BCP will be reviewed on at least an annual basis, as well as in response to material changes within MTS. As a result, the BCP may, from time to time, be revised or amended as necessary to meet changing business needs and regulatory requirements. Pertinent information regarding these changes will be posted promptly on our web site at http://www.mandtbank.com/personal/invest/index.cfm.

Please note that there can be no assurances that our BCP will be fully effective in mitigating all risks, or that we will be able to fully resume our business activities within our planned timeframes.

Contacting Us
If after a significant business disruption you cannot contact us as you usually do, you should call our alternative number at 1-800-724-7788. In lieu of reaching us by telephone, you may also visit your local M&T Bank branch; in the event that the disruption is limited to that branch, you will then be directed to the next closest facility in order to conduct your business.

If you cannot contact us through one or both of those means, you should do one of the following:

  • Contact our clearing firm, Pershing, at (201) 413-3635 for assistance in gaining prompt access to your funds and securities and executing trade-related, cash, and security transfer transactions. Please note, however, that Pershing will only field your call in the event that we cease operations due to a significant business interruption; or 
  • If you have an account held outside of Pershing, contact the mutual fund company or annuity carrier directly for instructions on how to transact business within your account. The telephone number of the company or carrier is available on your periodic statements, as well as on the firm’s internet web site.

For More Information – If you have questions about our BCP, you can contact us at 1-800-724-7788.

 
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