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Home > Financial Services > Stock Brokers > Witenberg Investment Companies
Witenberg Investment Companies
Witenberg Investment Companies is a member of NASD, the National Association of Securities Dealers. NASD is a self-regulatory organization of the securities industry responsible for the operation and regulation of the NASDQ stock market and over the counter markets. It also administrates exams for the investments professionals, such as the series of 7 exams.
The firm is a privately owned broker-dealer that services large institutions and professional traders. the firm has gone on to specialize in large order execution. As a fully disclosed broker-dealer, the firm clears through Goldman Sachs Execution and Clearing L.P.
The firm has developed a Business Continuity Plan on how they will respond to events that significantly disrupt their business. Since the timing and impact of disasters and disruptions is unpredictable, they will have to be flexible in responding to actual events as they occur. With that in mind, they are providing you with this information on their business continuity plan.
The firm conducts business in equity, fixed income, and derivative securities. The firm is an introducing firm and does not perform any type of clearing function for itself or others. Their clearing firm also maintains their customers’ accounts, can grant customers access to them, and delivers funds and securities. The firm services mostly institutional customers and retail customers. They currently do not engage in any private placements. Their clearing firm contract provides that their clearing firm will maintain a business continuity plan and the capacity to execute that plan.
Their firm relies, by contract, on their clearing firm to provide order execution in some instances, order comparison, order allocation, and the maintenance of customer accounts, delivery of funds and securities, and access to customer accounts.
They plan to quickly recover and resume business operations after a significant business disruption and respond by safeguarding their employees and property, making a financial and operational assessment, protecting the firm’s books and records, and allowing their customers to transact business. In short, their business continuity plan is designed to permit their firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption.
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