LEERINK SWANN BUSINESS
CONTINUITY PLAN
CUSTOMER DISCLOSURE

September 2008

In the past several years businesses have experienced varying degrees of business disruption. The disruptions have lasted from a few minutes to more than one week. Leerink Swann LLC has and will continue to take steps to continue to operate its business in the event of a disruption impacting any or all of its offices. As a valued customer, you should be aware of the steps Leerink Swann has taken to be able to continue operating in the event of some form of disruption. The elements of the Leerink Swann Business Continuity Plan ("Plan") address:

  1. Data back-up and recovery (hard copy and electronic)
  2. All mission critical systems
  3. Financial and operational assessments
  4. Alternate communications between Leerink Swann and our customers
  5. Alternate communications between Leerink Swann and our employees
  6. Alternate physical location of employees
  7. Critical business constituent, bank, and counter-party impact
  8. Regulatory reporting
  9. Communications with regulators
  10. How Leerink Swann assures customers' prompt access to their funds and securities in the event that Leerink Swann determines that it is unable to continue its business.

The Plan anticipates the resumption of trading no later than the next business day following a wide-scale business disruption. Leerink Swann intends to continue its business during a disruption. The Plan reflects the firm's intention to respond to events of varying scope. We all know too well that there may be occasions when one location is not able to be operational quickly because of external causes. All efforts will be undertaken to be operational as quickly as possible. With offices in Boston, New York,  and San Francisco, in the event of a disruption to a single building, a disruption to a business district, a city-wide disruption and a regional disruption, the Plan contemplates the transfer or re-routing of business operations, as necessary, from Boston to New York or Boston to San Francisco or New York to Boston. Various redundancies have been created to permit this transfer. Personnel would be re-located to permit the Firm to continue its business. 

Like most firms, Leerink Swann relies on third-parties to provide a number of services. These services among others, include: trading systems, accounting systems, telephone and e-mail. Those firms have provided information about their own business continuity plans and have also identified emergency contact personnel.

Customers may contact Leerink Swann offices in the following ways:

One Federal Street - 37th Floor
Boston, MA 02110
Tel. 617-248-1601 or 800-808-7525
Fax. 617-918-4900
webrequest@leerink.com

1325 Avenue of the Americas
New York, NY 10022
Tel. 212-446-6766 or 888-347-2342
Fax. 212-277-6168

201 Spear Street - 16th Floor
San Francisco, CA 94105
Tel. 415-905-7400 or 800-778-1164

Key personnel have been equipped with various communications devices such as mobile telephones, blackberries and laptop computers to facilitate communication during a disruption. In addition, access to the Firm's systems is available to key personnel from alternate sites, such as residences and satellite offices. An emergency notification system, Send Word Now, has been established to permit the Firm's employees to be kept informed of the Firm's business capabilities in the event of a disruption.

While all steps have been taken to permit the Firm to continue its business after a disruption, we must assure our valued customers that they will have prompt access to funds and securities if it is determined that Leerink Swann is unable to continue its business. Because Leerink Swann does not hold customer funds or securities, customers will be able to obtain their funds and/or securities by contacting Pershing LLC at 201-413-3635 or by facsimile at 201-413-5368. In the event that a customer is sending payment for a transaction or a stock certificate to Leerink Swann when the Firm is unable to continue its business, the payment should be sent to Pershing at One Pershing Plaza, P.O. Box 2065, Jersey City, NJ 07303. In all situations described in this paragraph, it is imperative that all communications directly with Pershing include the customer's Leerink Swann account number.

Customers should be aware that the Plan will be subject to on-going review and may be modified as the need arises. A copy of this document may be obtained by request as follows:

By mail: Chief Compliance Officer
Leerink Swann LLC
One Federal Street, 37th Floor
Boston, MA 02110

By e-mail: webrequest@leerink.com