First Clearing Privacy Notice
This notice is effective as of January 2024.
First Clearing acts as a clearing broker for your brokerage firm, providing back-office and other services for its customers’ accounts. In that capacity, First Clearing may receive personal information about you and your transactions.*
Listing of: FACTS
WHAT DOES FIRST CLEARING DO WITH YOUR PERSONAL INFORMATION?
Question: Why is personal information used?
Answer: Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
Question: What information is used?
Answer: The types of personal information we collect and share depend on the product or service you have with us. This information can include:
- Social Security number
- Account balances and transaction history
- Credit history and investment experience
Question: How is this information used?
Answer: All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information, the reasons First Clearing chooses to share; and whether you can limit this sharing.
Reasons we can share your personal information
For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus
First Clearing share? Yes
Can you limit this sharing? No
For our marketing purposes — with service providers we use to offer our products and services to you
First Clearing share? No
Can you limit this sharing? We don't share
For joint marketing with other financial companies
First Clearing share? No
Can you limit this sharing? We don't share
For our affiliates' everyday business purposes — information about your transactions and experiences
First Clearing share? Yes
Can you limit this sharing? No
For our affiliates' everyday business purposes — information about your creditworthiness
First Clearing share? No
Can you limit this sharing? We don't share
For our affiliates to market to you
First Clearing share? No
Can you limit this sharing? We don't share
For nonaffiliates to market to you
First Clearing share? No
Can you limit this sharing? We don't share
Who we are
Who is providing this notice?
Wells Fargo Clearing Services, LLC d/b/a First Clearing
What we do
How does First Clearing protect my personal information?
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. For more information visit https://www.wellsfargoclearingservicesllc.com/disclosures/security-statement.htm.
How does First Clearing collect my personal information?
We collect your personal information, for example, when you:
- Open an account with your broker
- Enter into an investment advisory contract with your broker or an affiliate of First Clearing
- Provide account information to us or your broker
- Give your broker or us your contact information
- Tell your broker about your investment or retirement portfolio and earnings
Why can't I limit all sharing?
Federal law gives you the right to limit only:
- Sharing for affiliates' everyday business purposes — information about your creditworthiness
- Affiliates from using your information to market to you
- Sharing for nonaffiliates to market to you
What happens if I hold an account jointly with someone else?
First Clearing does not share information about your creditworthiness or for affiliates or nonaffiliates to market to you, whether the account is held individually or jointly.
Definitions
Affiliates
Companies related by common ownership or control. They can be financial and non-financial companies.
- First Clearing affiliates include financial companies with Wells Fargo in their names such as Wells Fargo Bank, N.A.
Nonaffiliates
Companies not related by common ownership or control. They can be financial and non-financial companies.
- First Clearing does not share with nonaffiliates so they can market to you.
Joint marketing
A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
- First Clearing does not jointly market.
Other important information
Important Notice about Credit Reporting: We may report information about your account(s) to credit bureaus and/or consumer reporting agencies. Late payments, missed payments, or other defaults on your account(s) may be reflected in your credit report and/or consumer report.
Do Not Call Policy: This Privacy Notice constitutes Wells Fargo & Company’s Do Not Call Policy under the Telephone Consumer Protection Act for all consumers. Wells Fargo & Company maintains an internal Do Not Call preference list. Do Not Call requests will be honored within 30 days and will be effective for at least five years from the date of request. No telemarketing calls will be made to residential or cellular phone numbers that appear on Wells Fargo’s Do Not Call list. To be placed on the Wells Fargo & Company’s Do Not Call list, call 1-888-528-8460 and follow the prompts. If an individual does not have an account with Wells Fargo & Company, the individual must call 1-800-869-3557 (1-800-TO-WELLS) to be placed on the Wells Fargo & Company’s Do Not Call list.
Nevada residents: We are providing you this notice pursuant to state law. You may be placed on Wells Fargo & Company's internal Do Not Call List by following the directions in the Do Not Call Policy section. For more information regarding our telemarketing practices, contact us at 1-800-869-3557; PrivacyCenter@wellsfargo.com, or Wells Fargo, P.O. Box 5110, Sioux Falls, SD 57117-5110. If you would like more information regarding this Nevada law, contact the Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101; 702-486-3132; AgInfo@ag.nv.gov.
State Law: We follow state law where state law provides you with additional privacy protections. For example, we automatically treat customers with a Vermont mailing address as having limited our sharing with affiliates and nonaffiliates, unless you give us authorization.
Business-to-business: First Clearing is committed to protecting personal information that may be collected online and offline in a business-tobusiness context, including the personal information of individuals in their capacities as representatives of business entities that are consumers and partners. For the categories of personal data that First Clearing may collect and how we use it, see the Wells Fargo California Consumer Privacy Notice at Collection at https://www.wellsfargo.com/privacy-security/notice-of-data-collection/.
Legal entities and businesses not covered by this notice
First Clearing is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. This Privacy Notice applies only to consumers whose accounts are introduced to First Clearing in its capacity as a clearing broker-dealer.
The following legal entities and businesses are not covered by this notice and have separate privacy notices:
- Wells Fargo Bank, N.A.
- Wells Fargo Retail Services, a division of Wells Fargo Bank, N.A.
- Wells Fargo Advisors Financial Network, LLC
- Wells Fargo Investment Institute, Inc.
- Businesses that have provided a separate privacy notice governing specified accounts or relationships
* First Clearing is a trade name used by Wells Fargo Clearing Services, LLC Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company