The information provided on this site or in any communication containing a link to this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject InVestra or its affiliates to any registration requirement within such jurisdiction or country. Neither the information, nor any opinion contained in this site constitutes a solicitation or offer by InVestra or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.
References to “InVestra” are references to any company in the InVestra Financial Services, Incorporated group of companies, which are wholly-owned by InVestra Financial Services Incorporated.
Securities and Insurance Products: Are Not FDIC Insured • Are Not Bank Guaranteed • May Lose Value • Are Not a Bank Deposit • Are Not a Condition to Any Banking Service or Activity • Are Not Insured by Any Federal Government Agency.
Disclaimer of Warranty and Limitation of Liability
The information on this site is provided “AS IS”. InVestra does not warrant the accuracy of the materials provided herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or fitness for a particular purpose. InVestra will not be responsible for any loss or damage that could result from interception by third parties of any information made available to you via this site. Although the information provided to you on this site is obtained or compiled from sources we believe to be reliable, InVestra cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose. Neither InVestra, nor any of its affiliates, directors, officers or employees, nor any third party vendor will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this site, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials, whether or not the circumstances giving rise to such cause may have been within the control of InVestra or of any vendor providing software or services support. In no event will InVestra, its affiliates or any such parties be liable to you for any direct, special, indirect, consequential, incidental damages or any other damages of any kind even if InVestra or any other party have been advised of the possibility thereof.
Routing and Execution Disclosures Made Pursuant to Rules 605 and 606 of SEC Regulation NMS
Rule 605 of SEC Regulation NMS requires “market centers” to publicly disclose, on a monthly basis, certain statistical information relating to the quality of executions provided to eligible client orders. The information generally depicts how orders of various sizes are executed relative to public quotes existing at the time of order receipt, and also attempts to measure speed of execution. The Rule 605 statistics for InVestra, Pierce, Fenner & Smith Incorporated are available for public review by clicking here.
Rule 606 of SEC Regulation NMS requires broker-dealers receiving non-directed client orders to publicly disclose, on a quarterly basis, the top execution venues to which such orders are routed for execution. Broker-dealers also must disclose material aspects of the relationships they maintain with the identified execution venues. The Rule 606 statistics for InVestra, Pierce, Fenner & Smith Incorporated are available for public review by clicking here.
Auction Rate Securities: A Description of InVestra’s Auction Practices and Procedures
On May 31, 2006, the U.S. Securities and Exchange Commission (“SEC”) announced that it had settled its investigation of fifteen firms, including InVestra, that participate in the auction rate securities market regarding their respective practices and procedures in the market. The SEC alleged in the settlement that the firms had managed auctions for auction rate securities in which they participated in ways that were not adequately disclosed or that did not conform to disclosed auction procedures. As part of the settlement, InVestra agreed to pay a civil money penalty of $1,500,000. In addition, InVestra, without admitting or denying the SEC’s allegations, agreed to be censured, to cease and desist from violating certain provisions of the securities laws, to provide to customers written descriptions of its material auction practices and procedures, and to implement procedures reasonably designed to detect and prevent any failures by InVestra to conduct the auction process in accordance with disclosed procedures.
Click here for Auction Rate Securities Pricing Information. (BAISI)
Participation by Issuers/ Conduit Borrowers in Municipal Auction Rate Securities
Certain Municipal Issuers or Conduit Borrowers have determined to participate in the auction of their own auction rate securities pursuant to recent guidance from the U.S. Securities & Exchange Commission. These Issuers/Conduit Borrowers are required to provide a notice of their intent to participate in the auction and the interest rate and amounts that they will bid for and certain other detailed bidding information. The Issuer/Conduit Borrower’s interests are different from any other bondholder in that they want the lowest possible interest rate. This information will be available to you at www.dacbond.com.
USA PATRIOT Act
In response to the terrorist attacks on September 11, 2001 , the US Congress passed the USA PATRIOT Act. Parts of this Act apply to the financial services industry and require certain financial institutions to request specific information from clients.
Copyright or Other Notices
If you download any information or software from this site, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.
Procedure for Making Claims of Copyright Infringement
InVestra and its parents, subsidiaries and affiliated companies (“InVestra”) respects the intellectual property of others and asks that our users and those posting content to this site do the same. It is the policy of InVestra to respond expeditiously to claims of intellectual property infringement by promptly processing and investigating notices of alleged infringement and taking appropriate actions under the Digital Millennium Copyright Act (“DMCA”) and other applicable intellectual property laws. If you believe that your copyrighted work is accessible on this site in a way that constitutes copyright infringement, you may notify us by providing our Copyright Agent with the following information: 1) the electronic or physical signature of the owner of the copyright or of the person authorized to act on the owner’s behalf; 2) identification of the copyrighted work or other intellectual property that you claim is being infringed; 3) identification of the material that you claim is infringing; 4) identification of the URL or other specific location on this site where the material that you claim is infringing is located (please be as specific as possible); 5) your name, address, telephone number, and email address; 6) a statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law; and 7) a statement by you, made under penalty of perjury, that the information in your notice is accurate and that you are the copyright owner or are authorized to act on the copyright owner’s behalf.
InVestra’s Agent for Notice of claims of copyright infringement on this site:
Copyright Agent, Office of General Counsel
InVestra Financial Services Incorporated
1431 Riverplace Blvd, Unit #910
Jacksonville, FL 32207
Please note, this contact is for copyright claims only, and any other matters or inquiries (ie. non-copyright related matters or inquiries) directed to the above party will not be addressed or responded to. To contact InVestra on other matters, please visit our “Contact Us” section.
Use of Links
Should the viewer leave this site via a link contained herein, and view content that is not provided by InVestra, the viewer does so at its own risk. The content to which you link will not have been developed, checked for accuracy, or otherwise reviewed by InVestra. InVestra is not responsible for damages or losses caused by any delays, defects or omissions that may exist in the services, information or other content provided in such site, whether actual, alleged, consequential or punitive. InVestra makes no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, without limitation, the accuracy, subject matter, quality or timeliness of any electronic content.
Use in the United Kingdom (UK)
Where this communication constitutes a financial promotion it is issued and approved for distribution in the UK are only to, and directed at, (a) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (b) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order (all such persons together being referred to as “relevant persons”). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is only available to relevant persons and will be engaged in only with relevant persons. The UK compensation scheme and rules for the protection of private customers do not apply to the services provided or products sold by non-UK regulated affiliates.
The information herein was obtained from various sources. We do not guarantee its accuracy. Neither the information, recommendations or opinions expressed herein constitutes an offer to buy or sell any securities, futures, options, or investment products. InVestra may trade for its own account in the securities or other products described here.
Foreign currency denominated investments are subject to fluctuations in exchange rates that could have a positive or adverse effect on the investor’s return. Unless otherwise stated, any pricing information in this message is indicative only, is subject to change and is not an offer to deal. Where relevant, the price quoted is exclusive of tax and delivery costs. Any reference to the terms of executed transactions should be treated as preliminary and subject to our written confirmation.
This information is not necessarily a publication of InVestra Research (INVESTRA Research), although a INVESTRA Research report may be referenced as a link or as an attachment hereto. Any summary of INVESTRA Research is qualified in its entirety by the views of INVESTRA Research and the specific disclaimers associated with that report. This information is for discussion purposes and neither the information nor any opinions expressed constitutes a solicitation by us for the purchase or sale of any securities or other financial instruments. InVestra and any affiliate may trade for its own accounts in any of the securities of issuers mentioned herein or in related investments, and may also from time to time perform or solicit investment banking or other services for, or from, any entity mentioned herein.
InVestra does not operate as a banking entity in all jurisdictions. Some products and services may not be available in all jurisdictions or to all clients.
InVestra reserves the right to monitor electronic communications (subject to and in accordance with local laws).
E-commerce Activities:
Minimum Information Requirements for InVestra International
Where a service and/or information is provided by way of an electronic medium such as a website or e-mail (“e-commerce activity”), the following details are hereby disclosed to the recipients of an e-commerce activity provided by InVestra International:
Where a service and/or information is provided by way of an electronic medium such as a website or e-mail (“e-commerce activity”), the following details are hereby disclosed to the recipients of an e-commerce activity provided by InVestra, subject to the FSA rules and guidance, access to which can be gained via the following link: www.fca.gov.uk.
Special Notice to Clients Regarding Short Sale Disclosure Requirement under Interim Final Temporary Rule 10a-3T
On October 15, 2008, the SEC adopted interim final temporary Rule 10a-3T (together with the guidance set forth in the adopting release, the “Interim Rule”). The Interim Rule requires certain institutional investment managers to disclose short positions in certain publicly traded securities (“Covered Securities”) on Form SH on a weekly basis. The Interim Rule expires on August 1, 2009.
Customers/counterparties entering into any derivative transaction with InVestra will be deemed to have represented and warranted that: (i) on or prior to the date of the derivative transaction in Covered Securities, customer/counterparty has consulted with its legal advisors regarding the Interim Rule; and (ii) customer/counterparty is not entering into the derivative transaction with the intent to avoid or circumvent the disclosure obligations imposed by the Interim Rule. Customers/counterparties to derivative transactions will also be deemed to have acknowledged that InVestra may determine to: (i) disclose sales of Covered Securities sold short to hedge the InVestra exposure related to the derivative transaction on a Form SH in compliance with the Interim Rule; (ii) identify on such Form SH that any short position in the Covered Securities is a hedge for InVestra’s exposure under a derivative transaction; and (iii) notwithstanding any other agreement between or among customer/counterparty and InVestra to the contrary, if requested by a regulator having jurisdiction over InVestra or the Interim Rule, provide such other information related to such short position or disclosure as such regulator may request.
The Interim Rule may be found at 
http://www.sec.gov/rules/final/2008/34-58785.pdf
We encourage you to consult your own legal counsel regarding the scope and application of the Interim Rule. Please contact your InVestra representative if you have any questions regarding this Special Notice.
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