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Disclosures & Privacy

 

Margin Disclosure

Important Information about Using Margin

This document is being furnished to you to provide some basic information about purchasing securities on margin and to alert you to the risks involved with trading securities in a margin account. Before trading securities in a margin account, you should carefully review the margin terms in your account application and agreement. Please contact your broker dealer, Muriel Siebert & Co., Inc., regarding any questions or concerns you may have with your margin account. When you purchase securities, you may pay for the securities in full or you may borrow all or part of the purchase price from your brokerage firm, Muriel Siebert & Co., Inc. If you choose to borrow funds from your brokerage firm, Muriel Siebert & Co., Inc., you will open a margin account with National Financial Services LLC ("NFS"). The securities in your account are NFS' 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, NFS and your broker dealer, Muriel Siebert & Co., Inc., can take action, such as issue a margin call and/or sell securities or other assets in any of your account(s) held with NFS through your broker dealer, Muriel Siebert & Co., Inc., in order to maintain the required equity in the account.

NFS may also take action to sell securities or other assets in your account(s) held with NFS and with certain NFS affiliates.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 you purchased on margin may require you to provide additional funds or margin-eligible securities to NFS to avoid the forced sale of any securities or assets in your account(s).

• NFS and your broker dealer, Muriel Siebert & Co., Inc., 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 NFS' higher "house" requirements, NFS or your broker dealer, Muriel Siebert & Co., Inc., can sell the securities or other assets in any of your account(s) held at NFS through your broker dealer, Muriel Siebert & Co., Inc., to cover the margin deficiency. NFS may also take action to sell securities or other assets in your account(s) held with NFS and certain NFS affiliates. You also will be responsible for any short fall in the account after such a sale, possibly including NFS' and/or your broker dealer's, Muriel Siebert & Co., Inc.’s, costs related to collecting the short fall.

• NFS and your broker dealer, Muriel Siebert & Co., Inc., 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 account(s) 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.

• In addition, 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 prior to that date, 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 and any other assets in your account(s) are collateral for the margin loan, NFS or your broker dealer, Muriel Siebert & Co., Inc., has the right to decide which assets to sell in order to protect its interests.

• NFS can increase its "house" maintenance margin requirements at any time and is not required to provide you advance 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 NFS or your broker dealer, Muriel Siebert & Co., Inc., to liquidate or sell securities or any other assets 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.

• Short selling is a margin account transaction and entails the same risks as described above. NFS or your broker dealer, Muriel Siebert & Co., In c., can effect a buy-in of securities to cover a short position in your account without contacting you and may use all or any portion of the assets in your account to make such a purchase. If the assets in your account are not sufficient to cover the cost of such a purchase, you will be responsible for any shortfall, which may include NFS and/or your broker dealer's, Muriel Siebert & Co., Inc.’s, costs in collecting the shortfall.

• In addition to market volatility, the use of bank card, checkwriting and similar features in connection with your margin account may increase the risk of a margin call. Margin credit is extended by National Financial Services LLC, Member NYSE, SIPC.
 
 
 
  • 50
    Years delivering excellent customer service.
  • 1 on 1
    Work one-on-one with our Investment Advisors.
  • 11
    Siebert branch offices nationwide.
  • $11 Billion
    Worth of assets firm-wide  

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Electronic trading poses risk to investors due to system response, trade executions and account access availability that may vary due to a variety of factors, including trading volumes, market conditions, system performance, market data delays and other factors. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Rates, commissions and fees listed here are subject to change at any time. Testimonials may not be representative of the experience of other clients and are no
guarantee of future performance or success.

Muriel Siebert & Co., Inc.

Member NYSE, FINRA and SIPC. Est. 1967. Nasdaq symbol SIEB.
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