Disclosures Regarding TKDY LLC and Beech Hill Securities, Inc.

TKDY LLC and Beech Hill Securities, Inc. (“Beech Hill” and, together with TKDY LLC, the “Senders”) are independent, non-affiliated firms. Neither Sender is a fiduciary or investment advisor and neither Sender provides advice relating to investment products or strategies.  Beech Hill is a registered U.S. broker-dealer, Member FINRA and SIPC. For more information regarding Beech Hill Securities, Inc. or the investment professional from which you received the communication, please check FINRA's BrokerCheck. Please review additional disclosure notices regarding Beech Hill and services you may utilize through Beech Hill https://www.beechhillsecurities.com/notices.

 

Disclosures Regarding the Communication You Have Received

The email message that you have received (the “Communication”) is for informational purposes only and does not constitute an offer or solicitation to buy or sell any product or service.  Communications may contain privileged or confidential information, or may otherwise be protected by work product immunity or other legal rules, and no such confidentiality or privilege is waived or lost by any error in transmission.  No Communication is intended for distribution to, or use by, any person or entity in any location where its distribution or use is contrary to law or regulation, or pursuant to which any Sender would be subject to a registration requirement.  As no Communication can be guaranteed secure, error-free, uncorrupted, complete or virus free and any Communication may be lost, misdelivered, destroyed, delayed, or intercepted by others, please do not send sensitive or personal data electronically.  The Sender disclaims all liability in connection with the aforementioned risks associated with electronic communications.  All Communications are subject to surveillance, archiving and potential production to regulators and in litigation. These may occur in countries other than the country in which you are located, and may be treated legally differently than in your locale.  No Communication is intended to supplant your own evaluation of the matters referenced therein. Prior to any investment decision, investors should obtain sufficient information to ascertain legal, financial, tax and regulatory consequences necessary for such decision.  Past performance is not indicative of future performance. 

 

IMPORTANT – Corporate Access Compensation and Conflicts of Interest Disclosures

The Sender may provide corporate access and associated ancillary services, to the entities to which the Communication relates.  Corporate access services typically encompass the arrangement of events including roadshows, meetings, telephone calls and other means to bring together corporates with current and potential investors. Corporates that receive these services may have a contract for the provision of these services with the sender or its affiliates which includes compensation to the Sender.  Such compensation and relationships with Corporate that are the subject of Communications present conflicts of interest that may incentivize the Sender’s or its affiliates’ production or dissemination of the Communication.  This conflict is hereby disclosed and any recipient of the Communication must use its own discretion in determining the conflict’s impact on the recipient’s assessment of the Communication.

 

IMPORTANT - Sales and Trading Commentary Legal and Conflicts of Interest Disclosures

This Communication, including any sales commentary or trading ideas contained in it (“Commentary”), is intended for use solely by institutional accounts, as defined within FINRA Rule 4512(c), who (i) are capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities; and (ii) shall exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons. The Commentary is confidential and no part of it may be (i) copied, photocopied or duplicated in any form by any means or (ii) redistributed without the prior written consent of Beech Hill Securities, Inc. (“Beech Hill”).

Commentary is produced by Sales and/or Trading registered representatives of Beech Hill; it is not, and should not be construed as, investment research or a research report.  Commentary is not subject to prohibitions on dealing ahead of the dissemination of research, or the independence and disclosure standards applicable to research reports prepared for retail investors.  Commentary is provided for informational purposes only and is intended for use solely by the party to which it was originally sent.  Commentary must not be forwarded or shared with any third party.   

Commentary is for informational purposes only and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy.  Commentary is not, and must not be relied upon as, investment advice. It does not take into account whether an investment, course of action, or associated risks are suitable for the recipient. Investors should seek independent professional financial advice regarding the legal, financial, tax and regulatory consequences of a transaction as well as the suitability and/or appropriateness of making an investment or implementing the investment strategies discussed in this document and should understand that statements regarding future prospects may not be realized.  To the fullest extent permitted by law, no party affiliated with the sender or Beech Hill accepts any liability whatsoever (including in negligence) for any direct or consequential loss arising from any use of or reliance on material contained in this document.

Any views expressed in Commentary are solely those of the registered representative from which it originates. Such views may not be objective or independent of the interests of the Representative or of other Beech Hill affiliated parties, each of whom may be active participants in the markets, investments or strategies referred to in this communication or service clients with vested interests in such investments or strategies.  Any recipient reviewing the Commentary must consider that it is not independent of the interests of the sender of the Commentary or his or her affiliated firm(s).  Relevant conflicts of interests include that such parties:

• may receive, or have received, compensation from an issuer or selling holder of a subject security with respect to sales, brokering, corporate access, investment banking, capital markets and/or other financial services to such relevant issuer or holder. Such compensation and relationships with issuers of securities that are the subject of Commentary present conflicts of interest that may incentivize the sender’s or its affiliates’ production or dissemination of the Commentary.  This inherent conflict is hereby disclosed, and any recipient of the Commentary must use its own discretion in determining the conflict’s impact on the recipient’s assessment of the Commentary;
• may trade, and may continue to trade, securities covered in the Commentary on behalf of other customers or on a principal basis. Such trading interests may be contrary to, or entered into in advance of the distribution of, the Commentary;

The information presented in the Commentary has been obtained from, or based upon, sources believed to be reliable, but no party represents or warrants the accuracy or completeness of such information, nor is any party responsible for losses or damages arising out of errors, omission, changes, or the use of any such information.  The Commentary does not purport to contain all information that an interested party may desire and, in fact, provides only a limited view.  Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, expressed or implied is made regarding any aspect of the Commentary, including but not limited to future performance.  Nothing herein constitutes investment, legal, accounting or tax advice or a representation that any investment strategy or service is suitable or appropriate in light of particular circumstances. The information provided in Commentary is expressed as of the date it is distributed, is subject to change, and no party assumes any obligation to update or otherwise revise it.