MBF CLEARING CORP.
PRIVACY POLICY AND ANTI-MONEY LAUNDERING NOTICE
JULY 2024
MBF Clearing Corp. (hereinafter “MBFCC”) has always worked hard to maintain the highest standards of confidentiality and to respect the privacy of our customers. In that regard, we are providing this Privacy Notice to all of our individual customers. This notice is issue pursuant to CFTC Regulation 160. If you are using your account for business purposes, you may not technically be required to receive this Notice. Nevertheless, we felt you may be interested in receiving it. The following information in this Notice summarizes the categories of information that we collect, how that information is handled, and how we protect your information. Please read this notice carefully to understand what we do.
COLLECTION OF INFORMATION
MBFCC collects non-public personal information about its customers through the following sources:
1. Information from the customer (e.g. providing account information and identifying information).
2. Information about the customer from the customer’s transactions with us or our affiliates.
3. Information about your creditworthiness, credit history, and other information about you from consumer reporting agencies.
4. Information you provide to us to verify your identity, such as a passport or received from other entities not affiliated with the Company.
5. Information you provide us through your interactions with us (the website, products and services).
6. Information about your transactions with us, our affiliates, or other (for example, your trading history, your history of meeting margin calls, and your use of various products and services.
This non-public personal information may include your name, address, social security number, financial and investment qualifications, income, employment information, income and credit references.
We do not disclose any nonpublic personal information about our customers or our former customers to anyone except as permitted by law.
We may also disclose all the information we collect, as described above, to companies that perform services on our behalf, our affiliated entities and/or to other financial institutions with whom we have execution agreements.
Furthermore, to help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens and maintains an account. When you open an account, will ask you for your name, address, date of birth and other identifying information and we may also ask to see identifying documents such as your driver’s license and passport.
DISCLOSURES TO SERVICE PROVIDERS
MBFCC uses carefully selected firms to perform services such as preparing, printing and delivering statements and other documents relating to your account, on-line trading execution systems, protection against fraud or maintaining or developing software for us which enables us to perform the tasks required as an introducing broker. We provide only the information they need to offer our services to you.
MBFCC may also be legally required to exchange certain information about its customers with specific credit reporting agencies, in response to a court order, to prevent fraud or to comply with a requirement of a Designated Self-Regulated Organization, the National Futures Association or a government agency.
We do not sell information about MBFCC customers or former customers to unaffiliated third parties.
DISCLOSURES PERMITTED BY LAW
We may disclose all the personal information we collect as permitted or required by law. For example, we may disclose information to law enforcement agencies or regulatory authorities (such as the CFTC, SEC, NFA, FINRA or the DSRO), to respond to a subpoena or court order or judicial process, to consumer reporting agencies, to comply with a requirement of a government agency (such as pursuant to the US Patriot Act) or in connection with a proposed or actual sale, merger, or transfer of all or a portion of a business or an operating unit.
We may also disclose information upon consent of a customer to release such information, including authorization to disclose such information to persons acting in a fiduciary or representative capacity on behalf of the investor.
NO DISCLOSURES FOR OTHER PURPOSES
We will not share any personal information we collect with outside companies, except as explained above. That is, we will not sell personal information to outside companies that may wish to market their products and services to you. While we may offer products or services to you on behalf of such outside companies, we will not give your personal information to them.
ENCRYPTION
We use encryption and authentication tools to protect your personal information. E-mails you send us are not necessarily secure when they are transmitted to us. If your communication is very sensitive, you may want to call us or send it by regular mail.
INFORMATION PROTECTION
We take our responsibility to protect your information seriously. We use reasonable and appropriate physical, technical, and organizational safeguards designed to promote the security of our systems and protect the confidentiality, integrity, availability, and resilience of personal information.
However, no method of safeguarding information is completely secure. While we use measures designed to protect personal information, we cannot guarantee that our safeguards will be effective or sufficient. In addition, you should be aware that Internet data transmission is not always secure, and we cannot warrant that information you transmit utilizing our services is or will be secure.
PRIVACY INQUIRIES
If you have any question about our Privacy Policy or about the security and confidentiality of your non-public personal information, please call our office at 1-212-845-5000 and someone will be pleased to assist you.
UPDATING CUSTOMER INFORMATION
When your account was established, you provided information pertaining to your background and your financial status. It is important that we maintain the most current information. You have the right to see and, if necessary, correct personal data. Any request to see your personal data or to request a correction must be in writing. If there have been any material changes to your information last provided to us please contact us immediately at 212-845-5000 and ask for Goutam Majumdar. Mr. Majumdar can assist you as needed.
HOW LONG YOUR INFORMATION IS RETAINED
We will store the personal information you provide to process your application, for at least as long as you maintain an account with us. We will store your information beyond this point as necessary to fulfill our legal and regulatory obligations.
RECORDING TELEPHONE CONVERSATIONS
As a reminder, MBFCC, in complying with its obligations as an Introducing Broker registered with the National Futures Association and under the jurisdiction of the Commodity Exchange Act and the rules and regulations of the Commodity Futures Trading Commission (“CFTC”) may electronically records conversations made to and from its offices.
By maintaining your account with our company, you are consenting to allowing MBFCC to record conversations with MBFCC with or without the use of an automatic tone warning device.
All recordings shall be kept confidential and will not be disclosed to any third-party except as permitted or required by law. In addition, by maintaining your account with our company you consent to the use of the recordings as evidence by either party in any action between us. We may, but shall not be required, in the normal course of business, erase such recordings at specified intervals.
DATA PRIVACY RIGHTS
Clients may have under applicable Privacy Laws certain rights relating to the personal information we hold in accordance with and subject to the Privacy Laws to: (i) check whether we hold personal information about you and to access such data (in accordance with our policy); (ii) request the correction of personal information about you that is inaccurate; (iii) have a copy of the personal information we hold about you provided to you or another controller where technically feasible; (iv) request the erasure of your personal information; and (v) request the restriction of processing concerning you. To do so, please send your request to gmajumdar@mbfcc.com.
PRIVACY POLICY CHANGES
We reserve the right to modify or update this Privacy Policy. Any modifications or updates shall be effective on posting to our website. If we begin using personal information in a materially different way than what is communicated in this Privacy Policy, we will provide notice to you of such a change via email.
OTHER IMPORTANT INFORMATION
Nevada residents: Nevada law requires us to disclose that you may request to be placed on MBFCC’s internal “do not call” list at any time by calling 1 (212) 845-5000, and that we are providing this notice to you pursuant to state law, and that you may obtain further information by contacting the Nevada Attorney General, 555 E. Washington Ave., Suite 3900, Las Vegas, NV 89101; phone 1-702- 486-3132; email BCPINFO@ag.state.nv.us.
To learn more about our online privacy practices (e.g., “tracking”), please email gmajundar@mbfcc.com.
Nevada law permits our users who are Nevada consumers to request that their personal data not be sold (as defined under applicable Nevada law), even if their personal data is not currently being sold. Requests may be submitted by calling or emailing us and are free of charge. Phone: (212) 845-5000 Email: gmajundar@mbfcc.com.
Vermont residents: We will automatically limit sharing of your information. For joint marketing, we will only disclose your email address and your name contact information about your transaction.
Reminder on Exchange for Related Position transactions
If you are utilizing any of the Exchange for Related Position (EFRP) execution methods including Exchange for Physical (EFP) also known as Against Actuals (AA), Exchange for Risk (EFR) also known as Exchange for Swap (EFS), and Exchange of Options for Options (EOO), please make sure you aware of the unique requirements of these execution types including the documentation standards for the related physical commodity transaction or bi-lateral swap transaction. Each exchange has rules specific to this transaction type. Below are links to documents published by CME Group (covering all of their exchanges) and ICE Futures US on EFRP transactions for your reference.
CME Group Market Regulation Advisory Notice (most recent version RA2105-5 effective June 7, 2021) - https://www.cmegroup.com/rulebook/files/cme-group-Rule-538.pdf
ICE Futures US Frequently Asked Question document (last updated November 30, 2020) - https://www.theice.com/publicdocs/futures_us/EFRP_FAQ.pdf
PRIVACY INQUIRIES
If you have any question about this document or about the security and confidentiality of the tape recordings, please call our office at 1-212-845-5000 and someone will be pleased to assist you.
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