3 There are risks when investing The performance of your investments cannot be guaranteed by Stifel, Nicolaus & Company, Incorporated (Stifel). If you choose to invest in products that are not insured by the U.S. government, there is a risk to your capital. If you are not comfortable with this risk, you should not buy such investments through Stifel. Some investments are riskier than others. For example, some investments are less liquid than others. Trading unhedged options is also riskier than other investments. The way you invest can increase this risk. For example, if you invest on margin, you may lose more money than you have invested. Before making an investment, you need to understand the investment product and the risks associated with it. When you authorize transactions on your account, you will usually be charged commissions, markups or spreads. Your financial advisor is compensated from these commissions.
Your financial advisor is not paid to monitor your accounts or make recommendations to you. To help your financial advisor make investment recommendations that meet your needs, it is your responsibility to provide accurate and timely information about your investment experience, investment objectives, liquidity needs, risk tolerance, financial history, and current or changing circumstances. It is your responsibility to monitor your account, which you need to verify your transaction confirmations and monthly statements for inaccuracies and to promptly inform Stifel management of your concerns or questions. If you are concerned about the performance of your investments, you should notify your financial advisor immediately and determine if the changes to your portfolio are warranted. If your situation changes,. B for example as you age or your financial situation changes, you should review your portfolio with your financial advisor and consider appropriate changes. Stifel does not provide legal or tax advice, so you should also consider hiring the services of a professional estate planner, lawyer, and/or tax advisor. 10 IV. Your Stifel deposit account closes all or part of your deposit account (e.g. B sell positions, pay margin balances, freeze account). If it is an individual account, Stifel has the right, in its sole discretion, to cancel open orders or close all or part of your deposit account in the event of the death of the account holder.
3. Liquidation of Guarantees. When you borrow on margin, some or all of the securities in your account become Stifel`s guarantee for the loan lent to you. A loss in the value of these securities is a loss in the value of the guarantee. If your account coverage is below minimum industry requirements or Stifel requirements, Stifel may sell securities or other assets in your account to cover the deficit without notice. Stifel may also sell properties in your accounts and cancel orders opened for the purchase or sale of real estate without notice if this is necessary at our discretion for our protection or if you do not make payment(s) for loan balances. In such cases, Stifel may also borrow or purchase any property required for delivery in exchange for a sale made for you, including a short sale. Such a sale or purchase may be public or private and may be made without publicity or notice and in a manner determined by us. No claim, solicitation, offer or communication from Stifel shall be deemed a waiver of our rights under this Agreement. In the event of such a sale, Stifel may purchase the property without any right of return, and you will be responsible for any defects remaining in your accounts. 4. Interest on margin.
In certain circumstances, margin interest and overdraft fees may be charged to a deposit account for a loan extension that may not be directly related to your margin purchases. Examples of such loan extensions include, but are not limited to, upfront payments on securities sold and late payments on cash accounts and loan extensions resulting from writing cheques and using your MasterCard debit card. 5. Application for assets. Stifel may, from time to time, set or amend the minimum deposit asset requirements for opening or maintaining a deposit account, Stifel Advantage account, Stifel PrestigePlus account or Stifel Prestige account. 6. Representations. You represent that, unless otherwise specified in your assessment of the profile/risks of your customer account or in writing: (i) you have reached the age of majority under the laws of the state in which you reside; (ii) you are not an employee of a stock exchange or company that is a member of a stock exchange, the Financial Sector Regulatory Authority (FINRA) or an investment company, bank, trust company or insurance company; (iii) you are not a director, 10% economic shareholder, policy maker or other affiliate (as defined in Rule 144 of the Securities Act of 1933) of a publicly traded company; and (iv) this Agreement, as amended from time to time, is a legal, valid and binding obligation that may be imposed on them in accordance with its terms. You represent that the financial information and investment objectives provided to us are accurate in all material respects and that you will promptly notify us of any material changes in your financial or other circumstances, including your investment objectives.
No one other than you has or will have an interest in your account unless you must notify Stifel in writing, which is subject to Stifel`s acceptance. 7. Funds available. a. Free Credit. Stifel may use your free balance, subject to the restrictions of Section 240 17CFR, 15c3-2 of the Securities Exchange Act, you have the right, in the ordinary course of business, to have us delivered, upon request, : a) any free balance to which you are entitled, b) the fully paid securities to which you are entitled, and c) all securities, which have been acquired on margin from us after full payment of the debts. If you participate in a Stifel Advantage account or Stifel Prestige accounts, payment of a free balance may be subject to cancellation of a commitment made in respect of your account for the payment of cheques, MasterCard ATM debit or point-of-sale transaction fees, or other debit card transactions. or, if such cancellation is not possible, payment of such cheques, fees or transactions. See below, No. 8.b.
Fund units. Units of funds held for two (2) days or less and not purchased by bank transfer of federal funds may not be available as a source of payment for cheques submitted for payment, debit transactions at MasterCard ATMs or at the point of sale, or authorized periodic debits. The value of securities not held at Stifel is not available as a source of payment, even if they are indicated on your bank statement. Fund units in certificate form cannot be held in your account or be part of your combined assets. c. Line of credit on margin. When you access the line of line of credit on your deposit account, your overdraft protection is limited by the amount of the line of credit then available. Refer to the fee summary for the fees associated with accessing a line of credit. 8. Withdrawable Funds. You agree that, to the extent that the combined assets of your deposit account have been required to pay verified cheques or debit transactions at MasterCard ATMs and point-of-sale terminals, this amount cannot be withdrawn from your deposit account.
9. Privilege and provisions in case of non-payment or delivery. As security for the repayment of any present or future debt owed to Stifel of any kind, including, but not limited to, the balance of the margin loan, you grant Stifel a first, perfected and prior lien over any continuing security and right of set-off in respect of all property held, held, carried or held for any purpose in or through Stifel, be managed or maintained, including any securities account in your name (individually or jointly with others, including tenants as a whole) opened now or in the future, and any accounts in which you may have an interest now or in the future (individually or jointly with others), including tenants by the whole). . . . .