Janney Montgomery Scott LLC (“Janney”) will respond to a significant disruption of business by safeguarding employees’ lives and Firm property including books and records, by making financial and operational assessments to recover and resume operations, and by allowing Janney customers to continue to transact business. In the event that Janney would determine it is unable to continue business, Janney will assure customers prompt access to their funds and securities.

To that end, Janney has established a Business Continuity Plan using redundant data centers, data and systems level failover and backups, and alternate processing facilities with the objective to recover mission critical systems and continue our business within the same day of a business interruption. This continuity planning may include relocation of critical personnel to alternate facilities and automatic forwarding of telephone lines from affected locations. Various external factors surrounding a disruption including time of day, scope of the disruption and status of related infrastructure and communications links can affect actual recovery times.

This plan is subject to modification with status updates posted on the Janney web site. Janney will provide a copy of this summary upon written request.