Important Information about Procedures for Opening a New Account

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 an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

Internet Privacy Statement

At Janney Montgomery Scott LLC (Janney), we understand that privacy is a concern for visitors to our web site.

Janney provides information about our firm on our web site. You can visit our site to read about our firm, its products and services, preview our research reports, use our branch office locator and other features. We provide this information without requesting any information about you.

In maintaining the Janney web site, we gather information about site visitorship. Janney routinely gathers data on web site activity, such as how many people visit the site, pages they visit, how long they visit, etc. This information is obtained on an anonymous and aggregate basis and it helps us measure the use of the web site's content. None of the information is associated to you as an individual. We use these statistics to monitor the performance of the web site and to improve it for our site visitors.

In certain cases where users may want additional information from Janney, we will also collect information voluntarily provided to us by site visitors. This personal information includes name, address, telephone and fax numbers, e-mail, as well as other demographic and customer information as may be needed. This information is collected when the visitor supplies information to us using one of our online request forms or contact forms. In addition, we may also request additional information that is collected through our voluntary online surveys. When you provide us with this information, we will not disclose this personal information to any external organizations unless we have previously informed you in disclosures or agreements or unless it has been authorized by you or we are required to do so by our regulators or by law. Janney will use reasonable precautions to maintain the confidentiality of the information provided to us.

We may also link to external sites from our web site. If you visit another external web site from the Janney web site, we are not responsible for the privacy policy, if any, used by the other web sites.

Due to change in Internet technology and the services we may choose to provide in the future on our web site, Janney may need to change this privacy policy at any time. If we make such amendments, they will be posted as they go into effect.

In reviewing this Internet Privacy Statement, please remember that it applies to U.S. customers and web site visitors only. If you have any questions about this policy, you may contact us using our "Contact Us" feedback form.

Privacy Statement

At Janney Montgomery Scott LLC (Janney), the confidentiality of our customers' nonpublic personal information is of utmost importance, and Janney maintains high standards to safeguard such information. Janney collects and maintains nonpublic personal information in the course of our normal business operations. 

Accordingly, Janney has established measures and procedures to assure that this nonpublic personal information is used for Janney business purposes only. We restrict access to nonpublic information about you to those employees who need to know that information to provide
products or services to you. We maintain physical, electronic, and procedural safeguards that comply
with federal standards to guard your nonpublic personal information. Janney employees who have access to this information are required to comply with Janney's policies to keep the information confidential. 

Janney collects nonpublic personal information about you from the following sources:

• Information we receive from you on applications or other forms
• Information about your transactions with us, our affiliates, or others
• Information we receive from a consumer reporting agency

Janney maintains the confidentiality of customer information and we do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law.

The following is a notice regarding our information collection and disclosure policy. Please read the notice in its entirety.

NOTICE

Janney Montgomery Scott LLC collects customer information from the following sources:

	Account applications and related forms (e.g., option agreements, margin agreements, on-line agreements, investment adviser contracts) and;
	Your transactions with us, our affiliates or others (e.g., investment companies, insurance companies and investment advisers)

Janney Montgomery Scott LLC does not disclose personal information about our customers to anyone, except as requested or authorized by our customers and as required by law.

If you have any questions about this Notice, our privacy policy or our handling of customer information, please contact your Financial Consultant.

Hyperlink Disclaimer

Should the viewer leave this site via a link contained herein, and view content that is not provided by Janney Montgomery Scott LLC, the viewer does so at its own risk. The content to which you link will not have been developed, checked for accuracy, or otherwise reviewed by Janney Montgomery Scott LLC. The existence of such links should not be construed as an endorsement, approval or verification by Janney Montgomery Scott LLC of any content available on third party sites. By providing access to other web sites, Janney Montgomery Scott LLC is not recommending the purchase or sale of products or services provided by the sponsoring organization of any linked site. Janney Montgomery Scott LLC is not responsible for damages or losses caused by any delays, defects or omissions that may exist in the services, information or other content provided in such site, whether actual, alleged, consequential or punitive. Janney Montgomery Scott LLC makes no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, without limitation, the accuracy, subject matter, quality or timeliness of any electronic content.