Client Rights and Protection

National Securities is a member of the Securities Investor Protection Corporation, and securities in accounts carried by National Financial Services LLC ("NFS"), a Fidelity Investments ® company are protected by the Securities Investor Protection Corporation ("SIPC") up to $500,000 (including cash claims limited to $100,000).

NFS has arranged for additional unlimited protection for cash and securities to supplement its SIPC coverage. This additional protection covers total account net equity in excess of the coverage provided by SIPC. Neither SIPC nor the additional coverage protects against loss of market value of the securities.

National Securities is a member of the Securities Investor Protection Corporation, and securities in accounts carried by Penson Financial are protected by the Securities Investor Protection Corporation ("SIPC") up to $500,000 (including cash claims limited to $100,000). Neither SIPC nor the additional coverage protects against loss of market value of the securities.