Re: R guest Letter of Februat 4, 2021 re Trading Restrictions (dated 2021-10-15)
Summary
Exhibit 6 (Document 422-7) in Case 1:21-md-02989-CMA, entered on the FLSD docket October 15, 2021, is a three-page letter dated March 22, 2021 from Neal E. Sullivan of Sidley Austin LLP for Apex Clearing Corporation (CRD# 13071) to Amy Kopleton of the New Jersey Bureau of Securities, supplementing Apex's response letter of February 9, 2021 to the Bureau's request letter of February 4, 2021. The letter states that the Initial Response described the Restricted Period as approximately 10:30 a.m. until 1:55 p.m., Eastern time, and that Apex now understands it was in effect from approximately 10:30 a.m. until 1:55 p.m., Central time, or 11:30 a.m. until 2:55 p.m., Eastern time. It also clarifies that the term clients means a small number of direct customers of Apex and correspondent introducing brokers and the customers they introduced.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
- Date
- 2021-10-15
Cite this document
“Re: R guest Letter of Februat 4, 2021 re Trading Restrictions.”
Original at archive.org, dated 2021-10-15. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2021-10-15-covid-era-misc-f485e1a4-1/
, SHA-256 f485e1a4723bb0fe9f4c53f25f867692555134281d7838e349f70cb83b03601b.Full text
Case 1:21-md-02989-CMA Document 422-7 Entered on FLSD Docket 10/15/2021 Page 1 of 3
Exhibit 6
Case 1:21-md-02989-CMA Document 422-7 Entered on FLSD Docket 10/15/2021 Page 2 of 3
SIDLEY AUSTIN LLP
1501 K STREET, N.W.
SIDLEY WASHINGTON, D.C. 20005
+1 202 736 8000
+1 202 736 8711 FAX
+1 202 736 8471
NSULLIVAN(~SIDLEY.COM
AMERICA • ASIA PACIFIC • EUROPE
March 22, 2021
CONFIDENTIAL TREATMENT REQUESTED BY APEX CLEARING CORPORATION AND
ANY OF ITS AFFILIATES AND/OR SUBSIDIARIES PURSUANT TO NEW JERSEY OPEN
PUBLIC RECORDS ACT, N.J. STAT. § 47:1A ET SEQ. AND N.J. ADMIN. CODE § 13: 47A-14.2
By Email (KopletonA@a dca.njoag.gov)
Amy Kopleton
Deputy Bureau Chief
Bureau of Securities
New Jersey Office of the Attorney General
Division of Consumer Affairs
153 Halsey Street
6'" Floor
Newark, NJ 07102
Re: R guest Letter of Februat 4, 2021 re Trading Restrictions
Dear Amy:
On behalf of Apex Clearing Corporation (CRD# 13071) ("AAex" or "Firm"), this letter
supplements our response letter dated February 9, 2021 ("1tesponce Letter") to your request letter of
February 4, 2021 ("Request Letter") to Apex seeking certain information and documentation regarding
potential trading restrictions Apex imposed on its Clients (defined below) related to the securities identified
in the Request Letter.
The Initial Response described the Restricted Period as being in effect from approximately 10:30
a.m. Eastern until 1:55 p.m. Eastern. We now understand that the Restricted Period was in effect from
approximately 10:30 a.m. Central until 1:55 p.m. Central, or 11:30 a.m. Eastern until 2:55 p.m. Eastern.
In addition, we wanted to clarify that the term "clients" used in the Response Letter means (i) a small
number of direct customers of Apex and (ii) correspondent introducing brokers and customers introduced
to Apex by those introducing brokers.
This letter is being provided to the New Jersey Attorney General's Office, Bureau of Securities
(" curities Bureau") as part of the Securities Bureau's investigation of this matter, with the understanding
that Apex believes that business confidentiality pertains to this letter and all of the enclosures hereto. Apex
requests confidential treatment for these documents under N.J. Stat. § 47:1A et seq., N.J. Admin. Code §
13: 47A-14.2, and other applicable provisions of law governing the non-disclosure of information. Such
materials are considered to be confidential andior private documents that are commercially valuable, and,
as such, constitute or contain trade secrets, the disclosure of which may violate proprietary rights and would
grant our competitors an unfair advantage. In addition, Apex believes some or all of this information is
Sidley Austin (DC) LLP is a Delawa . limited lIabllity partnership doing business as Sdey Austin LLP and practicing in aMlslion with other Sidley Austin partnerships.
Confidential Treatment Requested APEX-TXAG-01-00005828
by Apex Clearing Corp.
HIGHLY CONFIDENTIAL —ATTORNEYS' EYES ONLY APEX-MDL00006018
Case 1:21-md-02989-CMA Document 422-7 Entered on FLSD Docket 10/15/2021 Page 3 of 3
SIDLEY
Amy Kopieton
March 22, 2021
Page 2
confidential, personal, and/or private information, the disclosure of which may represent an invasion of
personal privacy. If the Securities Bureau is not satisfied that the materials are exempt from disclosure,
Apex stands ready to supply further particulars, and request the opportunity to do so.
The information is produced with the further request that:
(i) you will keep it strictly confidential and will not disclose or provide it to any other
party, unless (a) you determine that disclosure should be made to the SEC or
another governmental or self-regulatory organization ("SRO"), in which case you
will immediately notify us prior to initiating such disclosure and will use your best
efforts to obtain confirmation from the SEC or SRO that the information will be
afforded confidential treatment; or (b) you receive a subpoena or other compulsory
order seeking production of the information, in which case you will notify us
immediately and provide us an opportunity to prove that this letter and the
enclosures qualify for an exemption from public disclosure;
(ii) Apex will be immediately notified of any other requests for the provided
information and be given an opportunity to object to such disclosure; and
(iii) providing the above information does not constitute any authorization, consent or
waiver by us, express or implied, entitling the Securities Bureau or any other
agency or person to have access to any additional documents or information in our
possession or a waiver of any objections to a subpoena or other process.
This letter is submitted with the further request that it be kept in a non-public file and that access
to it by any third party that is not a member of the Securities Bureau or its staff be denied.
Sincerely,
Neal E. Sullivan
Confidential Treatment Requested APEX-TXAG-01-00005829
by Apex Clearing Corp.
HIGHLY CONFIDENTIAL —ATTORNEYS' EYES ONLY APEX-MDL00006019
File and source
- File
- gov.uscourts.flsd.590042.422.7.pdf
- Size
- 247,660 bytes
- SHA-256
- f485e1a4723bb0fe9f4c53f25f867692555134281d7838e349f70cb83b03601b
- Original
- archive.org