EFTA01452704

PO By 1776. BA more MD 2120.3 Important Information and Disclosures (continued) Dpitisoc sant RPM* Wolk Illinagenad Wan. teernip Gm* Oemmlw Oak leolain Inc Nay evk Office 3411.04•44./t2lith ;In PMTS. NY 10154 (MI 4.1.1MA. NSW 2114095 Statement Period: 01/0112014 • 01/3112014 Important Arbitration Disclosures (continued) • The ability of the parties to obtain documents. witness statements and other discovery is generally more limited in arbitration than in court proceedings. • The arbitrators do not have to explain the reason(s) for their award, unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date. • The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry. • The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases. a claim that is ineligible for arbitration may be brought in court. • The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this agreement. Important Arbitration Agreement Any controversy between you and Pershing Lie shall be submitted to arbitration before the Financial Industry Regulatory Authority. No person shall bring a putative or certified class action to arbitration. nor seek to enforce any predispute arbitration agreement against any person who has initiated in court a putative class action, who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until; (I) the class certification is denied; (II) the class is decertified; or (III) the cient is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this agreement except to the extent stated herein. The laws of the State of New York govern. Pershing's contact information is as follows: Pershing LLC; Legal Department; One Pershing Plaza; Jersey City, New Jersey 07399; (201)413-3330. Page 23 of 23 POI CO24 POMO 016 .-.ntil.cur Account Number. N4041231304 SOUTHERN FINANCIAL LLC Rat•J Urcall•nt Go paperles.s Ynwt 4,A ge0w ASK Altotri EaaWYNY Cvki.SA4 RATED COMMIJNICATONS EXCELW4CE .0.•Tessr..tas setenyr i t .... lia • vaslinmtrooser Non. ate 'swam rte. pc. sr u+c CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0109888 CONFIDENTIAL SDNY_GM_00256072 EFTA01452704