Regulatory Disclosures

NYLIFE Securities

SEC Rule 606 requires NYLIFE Securities to make publicly available quarterly reports on its order routing practices and disclose the nature of any relationship it has with venues to which it routes client orders.

NYLIFE Securities directs all trades in over-the-counter (OTC), listed stock, and options to our clearing firm, National Financial Services, LLC. (“NFS”), for execution. NYLIFE Securities has no direct relationship or arrangement with any venues to which client orders are routed.

NFS may receive compensation or other consideration (“payment for order flow”) for directing such orders to particular broker-dealers or market centers for execution. Payments for order flow may consist of any monetary or non-monetary compensation, remuneration, or consideration to the clearing firm in return for routing customer orders to a particular market or dealer. Payments may also include credits, rebates, or discounts against execution fees.