Legal

LEGAL DISCLOSURES, TERMS OF USE AND WAIVERS OF LIABILITY

AGREEMENT AS TO TERMS OF USE

NOTICE: THIS DOCUMENT CONTAINS IMPORTANT LEGAL DISCLOSURES, TERMS OF USE AND WAIVERS OF LIABILITY.   BY SELECTING, VIEWING OR VISITING ANY OF THE PAGES, CONTENT, MATERIALS, TITLES OR USING ANY OF THE SERVICES ON THIS SITE, YOU EXPRESSLY AND IMPLIEDLY AGREE TO THE TERMS AND CONDITIONS SET FORTH HEREAFTER. THIS INFORMATION SHOULD BE READ CAREFULLY AND IN ITS ENTIRETY. IF YOU DO NOT AGREE WITH ANY OF THE FOLLOWING TERMS AND CONDITIONS, YOU MUST EXIT THE WEBSITE IMMEDIATELY. IF YOU DO NOT UNDERSTAND ANYTHING CONTAINED HEREIN, PLEASE EXIT THE WEB SITE AND CONTACT PENNALUNA & COMPANY BY EMAIL AT pennaluna@pennaluna.com OR TELEPHONE THE FIRM AT 208-667-7472.

  1. This website has been prepared by Pennaluna & Company solely for the purpose of providing information to visitors free of charge. It is designed to provide informative material of interest and is published with the understanding that it does not constitute legal, accounting, investment or other professional advice. This site is published for informational purposes only, and is not to be construed as an offer or solicitation of an offer to sell or buy securities, and is void where prohibited by law. This website has been compiled in good faith by Pennaluna & Company and information herein is obtained from sources considered to be reliable but not guaranteed to be complete or accurate, and no representation or guarantee is made as to the completeness or accuracy of the information the site contains, and further, Pennaluna & Company accepts no responsibility for any damages incurred by visitors to the site including, but not limited to, loss of information or data from any delay, non-delivery, mis-delivery or service interruptions or Pennaluna & Company’s own negligence and/or the visitor's error and/or omissions. In particular, you should be aware that this information may be incomplete, may contain errors or may have become out of date, and Pennaluna & Company makes no commitment, and disclaims any duty, to update any of this information and reserves the right to add, modify or delete any information at this website at any time. Visitors should validate all data themselves. Any opinions expressed herein are statements as of date of publication and are subject to change without notice. This website may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act.  Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not even be anticipated.
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  2. ALL INFORMATION INCLUDING THAT PROVIDED BY E-MAIL SERVICE IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND. BECAUSE OF THE POSSIBILITY OF HUMAN AND MECHANICAL ERRORS AS WELL AS OTHER FACTORS, PENNALUNA & COMPANY IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS IN THE INFORMATION. PENNALUNA & COMPANY MAKES NO REPRESENTATIONS AND DISCLAIMS ALL EXPRESS, IMPLIED AND STATUTORY WARRANTIES OF ANY KIND TO THE USERS AND /OR ANY THIRD PARTY, INCLUDING ANY WARRANTIES OF ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. UNLESS DUE TO WILLFUL TORTIOUS MISCONDUCT OR GROSS NEGLIGENCE, PENNALUNA AND ITS EMPLOYEES, OFFICERS, DIRECTORS, AGENTS AND AFFILIATES SHALL HAVE NO LIABILITY IN TORT, CONTRACT, OR OTHERWISE (AND AS PERMITTED BY LAW, PRODUCT LIABILITY) TO YOU AND/OR ANY THIRD PARTY, AND SHALL UNDER NO CIRCUMSTANCES BE LIABLE TO YOU AND/OR ANY THIRD PARTY FOR ANY LOST PROFITS OR LOST OPPORTUNITY, INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL, OR PUNITIVE DAMAGES WHATSOEVER, EVEN IF PENNALUNA HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.  
     
  3. Mention of any company at this site does not constitute an endorsement or recommendation of the security and the use or display of any security is not a recommendation or endorsement of that security. Pennaluna & Company may at any time make a market in the stock of any company mentioned herein. Pennaluna & Company, its employees, directors, officers, consultants, affiliates, or friends or family of same, may at any time be short or long shares in any company mentioned herein, and Pennaluna & Company may at any time act as financial consultant or investment banker to any company mentioned and in that event compensation for such services may be paid to Pennaluna & Company; however, Pennaluna & Company does not accept payment from companies to be mentioned in the site.
  1. As in all financial investments, past performance is no guarantee of future performance. Always do your own research and exercise prudence before making any investment decision. All investments carry varying amounts of inherent risk, and designated securities or penny stocks are speculative and can be especially risky and volatile. Stocks mentioned here may not suitable for all investors, and each investor should do his/her own individual investigation and assessment.
  2. The links in this site will allow you to leave this site, are provided solely as a service to visitors, and the linked sites are not under the control of Pennaluna & Company. Pennaluna & Company has not reviewed or approved and is not responsible for the contents of any linked site or any links contained in a linked site. The inclusion of any link does not imply endorsement by Pennaluna & Company of the site.
     
  3. By your use of this site, you agree to indemnify and hold harmless Pennaluna & Company and its affiliates and officers, directors, employees and agents from any and all claims and losses of any kind whatsoever, including by way of illustration and not limitation any lost profits, lost opportunities, indirect, special, incident, consequential, punitive, or any other damages whatsoever, imposed on, incurred by or asserted as, a result of or related to: (a) any noncompliance by you with the terms and conditions hereof; or (b) any third-party actions related to your receipt and use of the information, whether authorized or unauthorized. Pennaluna & Company assumes no responsibility or liability for any inaccuracies, misstatements, errors, or fabrications, contained on the website or associated services provided by Pennaluna & Company, either through error or negligence.
     
  4. The design and information contained in this site are owned by Pennaluna & Company Inc. and protected by copyright. Pennaluna & Company is a state-registered trademark of the firm.
     
  5. To access disclosure pursuant to SEC Rule 606 (formerly SEC Rule 11Ac1-6), click here.
     
  6. Non-directed orders will be executed in such a manner as to achieve the best available price consistent with speed and market maker financial and system responsibility, and without order flow payment being a determinant as to where orders are routed.
     

  7. Anti-Money Laundering Requirements

    The USA PATRIOT Act

    The USA PATRIOT Act, signed by President Bush, is designed to detect, deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage firms and financial institutions. By April 24, 2002, all brokerage firms were required to have new, comprehensive anti-money laundering programs.

    To help you understand these efforts, we want to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.

    What is money laundering?

    Money laundering is the process of disguising illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.

    How big is the problem and why is it important?

    The use of the U.S. financial system by criminals to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent estimate puts the amount of worldwide money laundering activity at $1 trillion a year.

    What are we required to do to eliminate money laundering?

    Under new rules required by the USA PATRIOT Act, our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent audits, and establish policies and procedures to detect and report suspicious transactions and ensure compliance with the new laws.

    As part of our required program, we may ask you to provide various identification documents or other information. Until you provide the information or documents we need, we may not be able to open an account or effect any transactions for you.

    We thank you for your patience and hope that you will support us in our efforts to deny terrorist groups access to America's financial system.

    (Produced for members by NASD)

     Pennaluna & Company Business Continuity Plan

    As a NASD broker-dealer, Pennaluna & Company maintains a business continuity plan designed to help us keep operating during emergencies. Parts of our plan rely on the continuing operation of our clearing corporation, National Financial Services LLC, which clears trades and maintains your cash and securities. Information about National's Pennaluna & Company Business Continuity Plan plan will also be provided to you.

    Pennaluna's plan addresses key areas of concern, including these:

    • Data back-up and recovery
    • Mission critical systems
    • Financial and operational assessments
    • Alternate communications with customers
    • Alternate communications with employees
    • Alternate physical location of employees
    • Critical business constituent, bank, and counter-party impact
    • Regulatory reporting
    • Communications with regulators
    • How we will assure customers' prompt access to funds and securities if we cannot continue business

    Possible events that might disrupt our business vary in nature and extent. They might affect only our office itself, or only the building where our office is located, or the entire business district where our office is situated, or the entire region. We plan to continue to conduct our securities business to the extent possible during any such potential disruption. In the event of such problems, we will redeploy our operational assets to our branch office or to our main office, as the case may be, pursuant to our plan.

    We intend to update our plan as conditions warrant. Changes will be posted at this website. Information on changes may also be obtained by submitting a written request to the firm.