Legal, Privacy, Procedures, Disclosures, Copyright and Trademark Information

Use of this website is governed by the following terms and conditions. Please read these terms and conditions carefully, as by accessing this site you will be deemed to have agreed to them. These terms and conditions are subject to change without notice to you, so we recommend that you review them regularly. If you do not agree with these terms and conditions, do not use this site.

Limited licence and use

The owner of this site (“Owner”) grants you a limited licence to display the contents of this site on your computer or other electronic device you use to access this site, and print, download and use the materials on this site solely for informational purposes or to transact with the Owner, provided that the contents of the site are not modified in any way and that all copyright and other notices are maintained. You agree not to, directly or indirectly, attempt or actually disrupt, impair or interfere with, alter or modify this site or any of its content.

This site is for general information purposes only and is not intended to provide you with any personalized financial, insurance, legal, accounting, tax or other professional advice. You will not rely on this site as a substitute for independent research or for personal advice.

Nothing on this site constitutes an offer to buy or sell products or services of any third party. All products and services are subject to the terms and conditions of any applicable contracts and applicable laws. The products and services described on this site are available only in jurisdictions where they may be lawfully offered for sale in Canada. The Owner may only solicit the sale of financial products and services for which the Owner has been duly licensed in the jurisdiction in which the sale occurs.

The use and content of this site, including the terms and conditions of use, shall be governed by the laws of the province in which the Owner resides and you agree to attorn to the jurisdiction of the courts of that province.

If you are accessing this site on behalf of another party, you confirm that you are authorized to do so, and agree you shall be liable and will indemnify and hold harmless the Owner in the event the party you are acting on behalf of claims you did not have such authority, or the information you submitted was inaccurate.

No endorsement or approval of any third party or their statements, opinions, information, products, or services is expressed or implied by the contents of this site. To the extent any third party opinions or information are included on this site, they are provided for convenience only and the Owner assumes no liability and does not approve or endorse such third party content, or warrant such content to be accurate, complete, reliable, verified, error free, or fit for any purpose.

The Owner may utilize third party service providers to provide certain tools and/or programs, some of which may be housed on a third party server or on a site which has been independently developed by others. As such, while accessing this site you may be linked to such other third party servers. Access to other sites or use of any third party tools or programs on this site are subject to all terms and conditions found therein.

Availability

This site, in whole or in part, may periodically be unavailable to you in order to allow for maintenance or updates, or due to other causes, including causes beyond the control of the Owner. Further, any or all of the services on this site may change at any time, with or without notice to you.

Privacy and Confidentiality for website

You acknowledge that the Owner collects and uses personal information for purposes of providing the services described on this site. The Owner is committed to respecting the privacy and confidentiality of information in accordance with applicable law. The Owner has established and will continue to maintain appropriate safeguards to protect the security and confidentiality of personal information. However, you acknowledge and confirm that the Internet is not a secure medium where privacy and confidentiality can be guaranteed and that complete security and confidentiality of transmissions to and from this site over the Internet is not possible at this time. Your confidential use of the site cannot be guaranteed and you acknowledge that your use of the site (including information you transmit to the site) may be subject to access or manipulation by, or disclosure to, third parties. Without limiting any other disclaimer herein, neither the Owner nor any third party shall be responsible or liable for any damages that you or any other person may suffer in connection with any such breach of privacy, confidentiality or security. If you are provided with a user name and password to access any part of this site, you agree to be liable for all uses of your user name and password, including unauthorized use without your consent and you acknowledge that the Owner shall not be responsible to confirm the actual identity or authority of any user. Instructions provided pursuant to such user name and password shall constitute sufficient authority to the Owner to execute any transactions directed there under. You agree to notify the Owner immediately should the confidentiality of your user name and password be in jeopardy.

Privacy Policy

Our Commitment to Privacy

The Gregory L. Schaffer Companies is in the business of confidentiality and has always been committed to maintaining the confidentiality, integrity and security of personal information about our current and prospective customers. We are proud of our privacy practices and want you to know how we protect this information and use it to service your account.

Please take a moment and review this privacy policy and if you have any questions or concerns, we will address your specific needs in all situations as long it complies with the law.

The privacy policies of The Gregory L. Schaffer Companies are reviewed quarterly. Our printed and online policy is then updated to reflect any material changes. You do not have to contact us to automatically have our privacy protections; they apply immediately to all of our customers.

The Gregory L. Schaffer Companies Privacy Policy

How and Why We Obtain Personal Information

The Gregory L. Schaffer Companies uses personal information about you to provide you with the superior service you expect from us. We may use this information to develop, offer, and deliver products and services; process transactions in your account; respond to inquiries from you or your representative; or to fulfill legal and regulatory requirements. The Gregory L. Schaffer Companies may collect public and nonpublic personal information about you from any of the following sources:

  • You or your representative on applications or forms (for example, name, address, Social Security number, birth date, assets and income)
  • Transactional activity in your account (for example, payments, charges and balances)
  • Other interactions with The Gregory L. Schaffer Companies (for example, discussions with our customer service staff in our various companies internally only)
  • Information services and consumer reporting agencies (for example, to verify your identity, to assess your creditworthiness or to better understand your product and service needs)
  • You or your representative regarding your preferences (for example, paper statements vs. electronic statements, or billing issue preference)
  • Other sources with your consent or with the consent of your representative (for example, from other institutions if you transfer your business into The Gregory L. Schaffer Companies)

How We Protect Your Information

The Gregory L. Schaffer Companies has always considered the protection of sensitive information to be a foundation of customer trust and a sound business practice. We employ extensive physical, electronic and procedural controls and we regularly adapt these controls to respond to changing requirements and advances in technology.

Within The Gregory L. Schaffer Companies and among our service providers, we restrict access to personal information to those who require it to provide products and services to you. We may share the personal information that we collect with the following entities:

  • Affiliates, including affiliated service providers (for example, our data processing company and printing operation)
  • Unaffiliated service providers (for example, fulfillment companies and securities clearing houses)
  • Government agencies, other regulatory bodies and law enforcement officials (for example, for tax purposes or for reporting suspicious transactions)
  • Other organizations, with your consent or as directed by your representative (for example, if you use The Gregory L. Schaffer Companies as a financial reference in applying for credit with another institution)
  • Other organizations, as permitted by law (for example, for fraud prevention)

Privacy Online

Privacy, security and service in our online operations are just as critical as in the rest of our business. We therefore employ all of the safeguards described above, along with the following Internet-specific practices.

The Gregory L. Schaffer Companies uses a variety of proven protections to maintain the security of your online session. For example, we make extensive use of firewalls, encryption techniques and authentication user ids and passwords.

Your Connection to The Gregory L. Schaffer Companies

You may interact with us in various ways, and when you do, we may exchange information with parties in addition to those described above. For example, if you conduct business with Gregory L. Schaffer & Company through your employer or investment professional, we may exchange the information we collect with them or with others at their direction. If we provide services to you on behalf of your employer, we may collect and exchange information such as payroll, banking and insurance data, in addition to the information listed above. Information collected from investment professionals' customers is not shared with The Gregory L. Schaffer Companies affiliates for marketing purposes, except with the consent of the investment professional or the customer.

If you interact with The Gregory L. Schaffer Companies directly as an individual investor, we may exchange information about you, as described above, with our affiliates to offer Gregory L. Schaffer & Company products and services. We may also share this individual investor information, under joint marketing agreements with non-affiliated, financial services business partners to offer discounts or other special access to products and services.

If you transact business through The Gregory L. Schaffer Companies life insurance companies, we may validate and obtain information about you from an insurance support organization. The insurance support organization may further share your information with other insurers, as permitted by law.

If you are a former customer, we treat your information in the same manner as that of current customers.

The Gregory L. Schaffer Companies Privacy Policy is provided on behalf of: Gregory L. Schaffer, Beacon of Light Financial Services, Inc., The Gregory L. Schaffer Insurance Agency, Schaffer & Company Asset Management, Inc., Schaffer & Company Financial Services, Beacon of Light Realty USA, Schaffer & Co Exotic Motorcars, Schaffer Accounting & Tax Services, The Gregory L. Schaffer Entrepreneurial Group.

Our Anti-Money Laundering Policies and Procedures

The Gregory L. Schaffer Companies has adopted policies and procedures to detect and prevent money laundering, which are summarized below:

  • The Gregory L. Schaffer Companies has established comprehensive anti-money laundering programs that meet applicable rules and regulations in the jurisdictions where it conducts business
  • The Gregory L. Schaffer Companies has appointed money laundering compliance officer to oversee the Firm's anti-money laundering efforts
  • The Gregory L. Schaffer Companies utilizes automated systems to monitor transactions within the Firm for suspicious activity
  • The Gregory L. Schaffer Companies has established a program to train all its relevant employees in the Firm's anti-money laundering policies and procedures. The Firm also trains all relevant employees in how to detect money laundering and to report any suspicious activity
  • The Gregory L. Schaffer Companies has established an independent audit function to evaluate the Firm's anti-money laundering program

Our Customer Identification Procedures for New Accounts

Government rules adopted to prevent money laundering and terrorist financing require all U.S. financial institutions to obtain, record and verify information that identifies each individual or entity that opens an account.

When you open an account with or through any Gregory L. Schaffer Companies entity, we will ask you for your name and address. We will also ask for an identification number. For U.S. individuals, this means a taxpayer identification number such as your social security number. For non-U.S. individuals, you must supply a passport or other government-issued photo identification document.

In addition, you may be required to provide identification documents as necessary to enable the Firm to verify your identity. The Gregory L. Schaffer Companies may also screen your name against various databases to verify your identity. All information and documentation will be treated in a manner so as to protect your privacy.

The Gregory L. Schaffer Companies is required to verify the identity of its customers. In certain circumstances we may not be able to open an account or conduct any transactions for you until we have obtained and verified the necessary identification information. If we have opened an account for you, we may have to restrict trading or close it if you do not supply the necessary information or documents or if we are unable to verify your identity.

The USA PATRIOT Act

The USA PATRIOT Act, enacted in 2001, is designed to detect, deter, and punish terrorists in the United States and abroad. The USA PATRIOT Act imposes new anti-money laundering requirements on brokerage firms and financial institutions. By April 24, 2002, all brokerage firms were required to have new, comprehensive anti-money laundering programs. 
To help you understand these efforts, we want to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.

What is money laundering?
Money laundering is the process of disguising illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection with a wide variety of crimes, including illegal arms sales; drug trafficking, robbery, fraud, racketeering, and terrorism. 

How big is the problem and why is it important?
The use of the U.S. financial system by criminals to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent estimate puts the amount of worldwide money laundering activity at $1 trillion a year. 

Our Commitment
The Gregory L. Schaffer Companies is committed to complying fully with all applicable laws and regulations relating to combating money laundering and any activity which facilitates the funding of terrorist or other criminal enterprises.

The USA PATRIOT Act: Preserving Life and Liberty
(Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism)

Congress enacted the Patriot Act by overwhelming, bipartisan margins, arming law enforcement with new tools to detect and prevent terrorism: The USA Patriot Act was passed nearly unanimously by the Senate 98-1, and 357-66 in the House, with the support of members from across the political spectrum.

The Act Improves Our Counter-Terrorism Efforts in Several Significant Ways:

1. The Patriot Act allows investigators to use the tools that were already available to investigate organized crime and drug trafficking. Many of the tools the Act provides to law enforcement to fight terrorism have been used for decades to fight organized crime and drug dealers, and have been reviewed and approved by the courts. As Sen. Joe Biden (D-DE) explained during the floor debate about the Act, "the FBI could get a wiretap to investigate the mafia, but they could not get one to investigate terrorists. To put it bluntly, that was crazy! What's good for the mob should be good for terrorists." (Cong. Rec., 10/25/01)

  • Allows law enforcement to use surveillance against more crimes of terror. Before the Patriot Act, courts could permit law enforcement to conduct electronic surveillance to investigate many ordinary, non-terrorism crimes, such as drug crimes, mail fraud, and passport fraud. Agents also could obtain wiretaps to investigate some, but not all, of the crimes that terrorists often commit. The Act enabled investigators to gather information when looking into the full range of terrorism-related crimes, including: chemical-weapons offenses, the use of weapons of mass destruction, killing Americans abroad, and terrorism financing.

     
  • Allows federal agents to follow sophisticated terrorists trained to evade detection. For years, law enforcement has been able to use "roving wiretaps" to investigate ordinary crimes, including drug offenses and racketeering. A roving wiretap can be authorized by a federal judge to apply to a particular suspect, rather than a particular phone or communications device. Because international terrorists are sophisticated and trained to thwart surveillance by rapidly changing locations and communication devices such as cell phones, the Act authorized agents to seek court permission to use the same techniques in national security investigations to track terrorists.

     
  • Allows law enforcement to conduct investigations without tipping off terrorists. In some cases if criminals are tipped off too early to an investigation, they might flee, destroy evidence, intimidate or kill witnesses, cut off contact with associates, or take other action to evade arrest. Therefore, federal courts in narrow circumstances long have allowed law enforcement to delay for a limited time when the subject is told that a judicially-approved search warrant has been executed. Notice is always provided, but the reasonable delay gives law enforcement time to identify the criminal's associates, eliminate immediate threats to our communities, and coordinate the arrests of multiple individuals without tipping them off beforehand. These delayed notification search warrants have been used for decades, have proven crucial in drug and organized crime cases, and have been upheld by courts as fully constitutional.
     
  • Allows federal agents to ask a court for an order to obtain business records in national security terrorism cases. Examining business records often provides the key that investigators are looking for to solve a wide range of crimes. Investigators might seek select records from hardware stores or chemical plants, for example, to find out who bought materials to make a bomb, or bank records to see who's sending money to terrorists. Law enforcement authorities have always been able to obtain business records in criminal cases through grand jury subpoenas, and continue to do so in national security cases where appropriate. These records were sought in criminal cases such as the investigation of the Zodiac gunman, where police suspected the gunman was inspired by a Scottish occult poet, and wanted to learn who had checked the poet's books out of the library. In national security cases where use of the grand jury process was not appropriate, investigators previously had limited tools at their disposal to obtain certain business records. Under the Patriot Act, the government can now ask a federal court (the Foreign Intelligence Surveillance Court), if needed to aid an investigation, to order production of the same type of records available through grand jury subpoenas. This federal court, however, can issue these orders only after the government demonstrates the records concerned are sought for an authorized investigation to obtain foreign intelligence information not concerning a U.S. person or to protect against international terrorism or clandestine intelligence activities, provided that such investigation of a U.S. person is not conducted solely on the basis of activities protected by the First Amendment.

2. The Patriot Act facilitated information sharing and cooperation among government agencies so that they can better "connect the dots." The Act removed the major legal barriers that prevented the law enforcement, intelligence, and national defense communities from talking and coordinating their work to protect the American people and our national security. The government's prevention efforts should not be restricted by boxes on an organizational chart. Now police officers, FBI agents, federal prosecutors and intelligence officials can protect our communities by "connecting the dots" to uncover terrorist plots before they are completed. As Sen. John Edwards (D-N.C.) said about the Patriot Act, "we simply cannot prevail in the battle against terrorism if the right hand of our government has no idea what the left hand is doing" (Press release, 10/26/01)
 

  • Prosecutors and investigators used information shared pursuant to section 218 in investigating the defendants in the so-called “Virginia Jihad” case. This prosecution involved members of the Dar al-Arqam Islamic Center, who trained for jihad in Northern Virginia by participating in paintball and paramilitary training, including eight individuals who traveled to terrorist training camps in Pakistan or Afghanistan between 1999 and 2001. These individuals are associates of a violent Islamic extremist group known as Lashkar-e-Taiba (LET), which operates in Pakistan and Kashmir, and that has ties to the al Qaeda terrorist network. As the result of an investigation that included the use of information obtained through FISA, prosecutors were able to bring charges against these individuals. Six of the defendants have pleaded guilty, and three were convicted in March 2004 of charges including conspiracy to levy war against the United States and conspiracy to provide material support to the Taliban. These nine defendants received sentences ranging from a prison term of four years to life imprisonment.

3. The Patriot Act updated the law to reflect new technologies and new threats. The Act brought the law up to date with current technology, so we no longer have to fight a digital-age battle with antique weapons-legal authorities leftover from the era of rotary telephones. When investigating the murder of Wall Street Journal reporter Daniel Pearl, for example, law enforcement used one of the Act's new authorities to use high-tech means to identify and locate some of the killers.

  • Allows law enforcement officials to obtain a search warrant anywhere a terrorist-related activity occurred. Before the Patriot Act, law enforcement personnel were required to obtain a search warrant in the district where they intended to conduct a search. However, modern terrorism investigations often span a number of districts, and officers therefore had to obtain multiple warrants in multiple jurisdictions, creating unnecessary delays. The Act provides that warrants can be obtained in any district in which terrorism-related activities occurred, regardless of where they will be executed. This provision does not change the standards governing the availability of a search warrant, but streamlines the search-warrant process.
     
  • Allows victims of computer hacking to request law enforcement assistance in monitoring the "trespassers" on their computers. This change made the law technology-neutral; it placed electronic trespassers on the same footing as physical trespassers. Now, hacking victims can seek law enforcement assistance to combat hackers, just as burglary victims have been able to invite officers into their homes to catch burglars.

4. The Patriot Act increased the penalties for those who commit terrorist crimes. Americans are threatened as much by the terrorist who pays for a bomb as by the one who pushes the button. That's why the Patriot Act imposed tough new penalties on those who commit and support terrorist operations, both at home and abroad. In particular, the Act:

  • Prohibits the harboring of terrorists. The Act created a new offense that prohibits knowingly harboring persons who have committed or are about to commit a variety of terrorist offenses, such as: destruction of aircraft; use of nuclear, chemical, or biological weapons; use of weapons of mass destruction; bombing of government property; sabotage of nuclear facilities; and aircraft piracy.
     
  • Enhanced the inadequate maximum penalties for various crimes likely to be committed by terrorists: including arson, destruction of energy facilities, material support to terrorists and terrorist organizations, and destruction of national-defense materials.
     
  • Enhanced a number of conspiracy penalties, including for arson, killings in federal facilities, attacking communications systems, material support to terrorists, sabotage of nuclear facilities, and interference with flight crew members. Under previous law, many terrorism statutes did not specifically prohibit engaging in conspiracies to commit the underlying offenses. In such cases, the government could only bring prosecutions under the general federal conspiracy provision, which carries a maximum penalty of only five years in prison.
     
  • Punishes terrorist attacks on mass transit systems.
     
  • Punishes bioterrorists.
     
  • Eliminates the statutes of limitations for certain terrorism crimes and lengthens them for other terrorist crimes.

The government's success in preventing another catastrophic attack on the American homeland since September 11, 2001, would have been much more difficult, if not impossible, without the USA Patriot Act. The authorities Congress provided have substantially enhanced our ability to prevent, investigate, and prosecute acts of terror.

E-mail security

The security of e-mail communication cannot be guaranteed at this time. Any person wishing to communicate or send information of a private or confidential nature to the Owner is encouraged to do so by other means.

Copyright

This site has been developed by and is the property of the Owner.  All information and materials contained on this site are protected by copyright, trademark and/or other intellectual property laws of Canada and other countries, and are the property of their respective owner(s). Subject to the limited licence to use this site as described above, no person may copy, redistribute, reproduce or republish in any form, or link to this site or its contents in any manner whatsoever, including by way of hyperlinks or framing, unless that person has obtained the prior written consent of the Owner. Any infringement of the rights of the Owner may result in appropriate legal action.

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The Owner owns or has obtained the right to use by licence or otherwise the trademarks, logos and domain names used on or in connection with the goods and services that it provides and displays on this site. The trademarks are protected by Canadian and foreign trademark laws. All rights reserved. The display of trademarks on this site shall not in any way be construed as an implied licence to use such trademarks.  Any third party marks are used with permission or under licence.

General disclaimer

While information posted on this site is believed to be reliable and accurate at the time of posting, the Owner does not guarantee, represent or warrant that the information contained on this site is accurate, complete, reliable, verified, error free, or fit for any purpose.

Nothing on this site forms a contract, or a part of any contract, other than as it relates to the use of this site or as may be expressly provided. In the event of a conflict between the information contained on this site and the terms contained in any products or services offered by the Owner or a third party, the terms contained in any document detailing such product or service will prevail.

Neither the Owner or any third party, make any representations or warranties, express or implied, regarding the usability or condition of this site, that this site will operate uninterrupted or error free, or that this site will operate in combination with any services or software used in connection therewith or that it shall be viewed consistently with all browser software or that any communication transmitted to or from this site is private, confidential or secure.

The Owner expressly disclaims all representations, warranties or conditions, express or implied, statutory or otherwise, including, without limitation, the warranties and conditions of merchantable quality and fitness for a particular purpose, non-infringement, compatibility, timeliness, security or accuracy, and any representations, warranties or conditions that may arise from a course of dealing or usage of trade.

You assume full responsibility for risk of loss of any nature whatsoever resulting from your use of this site. Without limiting the generality of the foregoing, you acknowledge and agree that neither the Owner or any third party, shall be liable to you for loss of data, computer time or any loss or damage of any nature whatsoever arising out of or attributable in any manner whatsoever to your use or inability to use this site for any reason whatsoever or to any action or inaction on the part of the Owner or for any direct, indirect, special or consequential damages, even if the Owner has been advised of the possibility thereof, including but not limited to lost profits, lost opportunities or business revenues, loss of goodwill, or failure to realize expected savings.

This site may contains links to other sites which sites are not maintained or controlled in any way by the Owner. Links to any such sites that are not maintained or controlled by the Owner are provided for convenience only and are not to be construed as an endorsement by the Owner or any other party of the products, services, advice or opinions or any other content of such sites. Access to or use of sites to which links are provided are subject to the terms and conditions of such sites. You are fully responsible for any use that you make of the content contained in such sites and you are solely responsible for the consequences of any use of or reliance on such content.