Piper Jaffray & Co. owns and operates this Site
Piper Jaffray Companies is a leading investment bank and asset management firm. Securities brokerage and investment banking services are offered in the United States through Piper Jaffray & Co., member NYSE and SIPC, and in Europe through Piper Jaffray Ltd, authorised and regulated by the Financial Conduct Authority. Asset management products and services are offered through three separate investment advisory affiliates registered with the U.S. Securities and Exchange Commission: Advisory Research Inc., Piper Jaffray Investment Management LLC and PJC Capital Partners LLC.
Password protected areas of this Site
Certain areas of this Site may be password protected. You are responsible for maintaining the confidentiality of your password. We have the right to assume that anyone accessing the password protected areas of this Site using a password assigned to you has the right to do so. You and your company will be solely responsible for the activities of anyone accessing this Site using a password assigned to you, even if the individual is not, in fact, authorized by you. You agree that you will immediately notify us of any known or suspected unauthorized use of your password or any other breach of security and will change your password if you believe your password may have been compromised or used without authorization. You and your company (if any) shall defend, indemnify and hold Piper Jaffray and its Affiliates from and against any and all losses, injuries, claims, liabilities, damages, fines, penalties, costs and expenses (collectively, “Claims”) arising out of any use or misuse of this Site, including its Content, through your password; provided that (a) we notify you and your company promptly in writing of any such Claims (provided that our failure to do so will not relieve you or your company of your or its obligations hereunder if the defense of the Claim is not prejudiced by the delay); (b) you and your company shall have the right to control any negotiations or defense; and (c) we provide such assistance as you or your company may reasonably request at your or your company’s sole cost and expense.
Your use of the Piper Jaffray Municipal Reinvestment area of this Site
Your use of the Piper Jaffray Municipal Reinvestment area of this Site (the “Municipal Reinvestment Site”) is subject to these Terms and Conditions and any disclosures, notices or instructions posted on the Municipal Reinvestment Site that apply to you or your company, including the applicable bid specifications and conditions.
If you are a provider of investment contracts, by participating in the bidding process by submitting conditions or a bid, you are agreeing on behalf of your company to the terms and conditions (including all applicable representations and warranties) set forth in the applicable bid specifications and any additional conditions posted on the Municipal Reinvestment Site.
By submitting bids on the Piper Jaffray Municipal Reinvestment Site, potential providers of investment contracts agree and warrant that the submission of a bid is a representation that the potential provider did not consult with any other potential provider about its bid, that the bid was determined without regard to any other formal or informal agreement that the potential provider has with the issuer of the bonds or any other person (whether or not in connection with the bond issue), and that the bid is not being submitted solely as a courtesy to the issuer of the bonds or any other person for purposes of satisfying the fair market value requirements of Section 1.148-5(d)(6)(iii)(B)(1) or (2) of the U.S. Treasury Regulations.
By using the Site, users who have access to bidding information during the conduct of bidding agree at all times not to share information with potential providers concerning bids submitted during the bidding process. The sharing of such information prior to the dissemination of such information by the bidding agent may subject those persons to criminal anti trust law and criminal penalties associated therein. Piper Jaffray expressly disclaims any liability associated with the unauthorized sharing of information or its misuse regarding bids in process.
Disclaimer of Warranties
THIS SITE IS PROVIDED ON AN "AS IS," "AS AVAILABLE" BASIS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND. TO THE FULLEST EXTENT PERMITTED BY LAW, PIPER JAFFRAY, ITS AFFILIATES, AND THEIR RESPECTIVE LICENSORS, SERVICE PROVIDERS AND SOURCES, DISCLAIM ANY AND ALL REPRESENTATIONS AND WARRANTIES, WHETHER EXPRESS, IMPLIED, OR STATUTORY, WITH RESPECT TO THIS SITE, INCLUDING ITS CONTENT, AND ANY PRODUCTS AND SERVICES MADE AVAILABLE THROUGH THIS SITE. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, PIPER JAFFRAY, ITS AFFILIATES, AND THEIR RESPECTIVE LICENSORS, SERVICE PROVIDERS AND SOURCES, DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, (A) OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE; (B) ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE; (C) RELATING TO THE SECURITY OF THIS SITE; (D) THAT THE CONTENT OR OTHER INFORMATION ON THIS SITE IS TIMELY, CURRENT, ACCURATE, COMPLETE, RELEVANT OR RELIABLE; (E) THAT THIS SITE WILL OPERATE WITHOUT INTERRUPTION OR ERROR, AND (F) REGARDING THE RESULTS TO BE OBTAINED FROM USING THIS SITE, INCLUDING ITS CONTENT, OR PRODUCTS AND SERVICES MADE AVAILABLE THROUGH THIS SITE. YOU AND YOUR COMPANY USE THIS SITE, INCLUDING ITS CONTENT, AND THE PRODUCTS AND SERVICES AVAILABLE THROUGH THIS SITE AT YOUR OWN RISK.
APPLICABLE LAW MAY NOT ALLOW THE LIMITATION OF CERTAIN WARRANTIES, SO ALL OR PART OF THIS DISCLAIMER OF WARRANTIES MAY NOT APPLY TO YOU.
Limitations of Liability
UNDER NO CIRCUMSTANCES SHALL PIPER JAFFRAY, ITS AFFILIATES, OR THEIR RESPECTIVE LICENSORS, SERVICE PROVIDERS, OR SOURCES, OR ANY OF THEIR RESPECTIVE EMPLOYEES, DIRECTORS, OFFICERS, AND AGENTS, HAVE ANY RESPONSIBILITY OF ANY KIND OR BE LIABLE TO YOU, YOUR COMPANY, OR TO ANY THIRD PARTY FOR ANY LOSSES, LIABILITIES, DAMAGES, COSTS OR EXPENSES ARISING OUT OF OR IN CONNECTION WITH THIS SITE, INCLUDING (A) THE USE OF OR INABILITY TO USE THIS SITE (INCLUDING ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, WORM OR OTHER MALICIOUS COMPUTER CODE, OR LINE OR SYSTEM FAILURE), (B) ANY CONTENT PROVIDED THROUGH THIS SITE, OR (C) ANY PRODUCTS OR SERVICES PROVIDED THROUGH THIS SITE.
THIS IS A COMPREHENSIVE LIMITATION OF LIABILITY THAT APPLIES TO ALL LOSSES, INJURIES, CLAIMS, LIABILITIES, DAMAGES, COSTS AND EXPENSES OF ANY KIND WHATSOEVER (WHETHER DIRECT, INDIRECT, GENERAL, SPECIAL, CONSEQUENTIAL, INCIDENTAL, EXEMPLARY OR OTHERWISE, INCLUDING, WITHOUT LIMITATION, LOSS OF DATA, INCOME, SAVINGS OR PROFITS); WHETHER THE CLAIM IS IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR STRICT LIABILITY OR BASED ON ANY OTHER LEGAL THEORY; EVEN IF AN AUTHORIZED REPRESENTATIVE OF PIPER JAFFRAY, ITS AFFILIATES, OR THEIR RESPECTIVE LICENSORS, SERVICE PROVIDERS OR SOURCES, HAS BEEN ADVISED OF OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES; AND WITHOUT REGARD TO THE EFFECTIVENESS OF OTHER REMEDIES.
APPLICABLE LAW MAY NOT ALLOW THE LIMITATION OF LIABILITY SET FORTH ABOVE, SO ALL OR PART OF THIS LIMITATION OF LIABILITY MAY NOT APPLY TO YOU.
Right to modify, shut down, or deny access to this Site
PIPER JAFFRAY RESERVES THE RIGHT TO MODIFY THE CONTENT, FEATURES AND FUNCTIONALITY OF THIS SITE, TO SHUT DOWN THIS SITE, AND TO LIMIT OR DENY ACCESS TO THIS SITE AT ANY TIME, FOR ANY REASON, WITHOUT PRIOR NOTICE, AND WILL NOT BE LIABLE IN ANY WAY TO YOU, YOUR COMPANY OR ANY THIRD PARTY FOR POSSIBLE CONSEQUENCES OF SUCH ACTIONS.
Not an offer to buy or sell any financial instruments or provide any investment advice or service
Neither the information, nor any opinion, nor any other Content on this Site constitutes a solicitation or offer by Piper Jaffray or its Affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or services.
Customer notice pursuant to the US Patriot Act
In an effort to aid the government in its fight against funding of terrorism and money laundering activities, federal law requires financial institutions to obtain, verify and record information that identifies each person who opens an account. Specifically, Piper Jaffray is required to collect the following information:
- Date of birth
- Address (street)
- Identification number
- U.S. citizen: TIN or social security number
- Non-U.S. citizen: TIN; passport number and country of issuance; alien identification card number; or government-issued identification showing nationality, residence and a photograph
- You may also need to show your driver’s license or other identifying documents.
- A corporation, partnership, trust or other legal entity may need to provide other information such as its principal place of business, local office, employer identification number, certified articles of incorporation, government-issued business license, a partnership agreement or a trust agreement.
We may be required to disclose this information pursuant to applicable laws, rules or regulations, but it will otherwise be retained in confidence and disclosed only as set forth in our Privacy Pledge.
This Site is published in the United States. It is only directed at and approved for distribution to and use by: (a) residents of the United States; (b) “United Kingdom (“U.K.”) “persons who have professional experience in relation to investments” (see below for full definition); (c) “U.K. high net worth companies, unincorporated associations, etc.” (see below for full definition); and (d) residents of other countries only as allowed by the laws of the applicable jurisdiction. Financial services provided by Piper Jaffray and its Affiliates are available only to such persons. Other persons should not rely or act upon any such information on this Site. We reserve the right to require proof of residence from any user accessing this Site and requesting information.
Products and services offered in Asia by Piper Jaffray Asia.
Pillar 3 disclosures
Pillar 3 disclosures are posted in compliance with the UK FSA regulated group. For more financial information about Piper Jaffray Companies and its subsidiaries, please see our SEC fillings and annual reports. View the full Pillar 3 disclosure (PDF).
Products and services offered in the United Kingdom by Piper Jaffray Ltd, registered in England, no. 3846990. Piper Jaffray Ltd. is authorised and regulated by the Financial Conduct Authority, entered on the FSA's register no.191657 and is a member of the London Stock Exchange.
“United Kingdom persons having professional experience in relation to investments” means:
- (a) a person authorised by the U.K. Financial Conduct Authority;
- (b) a person who is exempt under the U.K. Financial Services and Markets Act 2000 where the details on this website relate to an activity in relation to which he is exempt;
- (c) any other person whose ordinary activities involve him in dealing in investments for the purpose of a business carried on by him;
- (d) a government, local authority (whether in the U.K. or elsewhere) or an international organization;
- (e) person(“A”) who is a director, officer or employee of person (“B”) falling within any of sub-paragraphs (a) to (d) where A accesses this website in that capacity and where A’s responsibilities when acting in that capacity involve B in dealing in investments.
“High net worth companies, unincorporated associations, etc.” means:
- (a) any body corporate which has, or which is member of the same group as an undertaking which has, called-up share capital or net assets of not less than:
- (i) if the body corporate has more than 20 members or is subsidiary undertaking of an undertaking which has more than 20 members, £500,000;
- (ii) otherwise, £5 million;
- (b) any unincorporated association or partnership which has net assets of not less than £5 million;
- (c) the trustee of a trust where the aggregate value of the cash and investments which form part of the trust’s assets (before deducting the amount of its liabilities):
- (i) is £10 million or more; or
- (ii) has been £10 million or more at any time during the last year;
- (d) any person (“A”) whilst acting in the capacity of director, officer of employee of a person (“B”) falling within any of sub-paragraphs (a) to (c) where A’s responsibilities when acting in that capacity, involve him in B’s engaging in investment activity.
All of the trademarks and service marks used or displayed on this Site, including the “look and feel” of this Site (collectively, the “Marks”), are registered or unregistered trademarks of Piper Jaffray, its Affiliates or other third parties, all of whom reserve all rights in their Marks. Nothing on this Site may be construed as granting any license or right to use any of the Marks displayed on this Site without the prior express written permission of Piper Jaffray or the owner of the Mark. In particular, you may not use any Mark displayed on this Site without the prior written approval of Piper Jaffray or the owner of the Mark.
This Site, including the software and code that comprise and operate this Site and all of the content of this Site, including all of the text, images, photographs, illustrations, graphics, audio clips, and video clips and other materials posted on this Site, all pages and screens, and all related metadata (collectively, the “Content”) are protected under U.S. and international copyright and other intellectual property laws and treaties. All rights in the Site, including the Content of this Site, including all worldwide copyrights, are owned by Piper Jaffray, its Affiliates, their licensors, and other third parties, each of whom reserves all of its rights. The entire Content of this Site is copyrighted as a collective work under U.S. and international copyright laws and treaties, and Piper Jaffray owns and reserves all rights in the copyright in the selection, coordination, arrangement and enhancement of the Content of this Site.
You may download selected Content displayed on this Site for your own personal use or for your company’s internal business use, provided (a) you do not remove or modify any copyright, trademark, or other proprietary notices or any disclosures; (b) you agree to any terms, conditions, and notices accompanying the Content; and (c) you comply with all copyright and other intellectual property laws. This limited, revocable, non-transferable privilege to use the Content in no way constitutes a transfer of any right, title or interest in the Content you download. You may not under any circumstances (a) modify the Content or use or exploit it for any commercial purpose (except for your company’s internal business use); (b) decompile, reverse engineer, or disassemble the any part of this Site, including its Content; or (c) upload, post or use any Content on any other Web site or any networked computer environment.
No part of this Site, including the Content, may be copied, reproduced, republished, uploaded, posted, transmitted, distributed, displayed or performed publicly, modified or used to create derivative works, or exploited or used in any manner or form except as expressly provided above (or as expressly specified on this Site) without first obtaining written permission from Piper Jaffray or the rights holder.
Some of the information, research reports and other materials available through this Site are provided to Piper Jaffray or its Affiliates by third parties, including third-party financial reporting services. These third-party materials are provided for your interest and convenience only. Piper Jaffray and its Affiliates do not endorse these materials or the vendors who supply them, nor do we warrant or represent that these materials are current, accurate, complete, relevant or reliable. It is your responsibility to evaluate the currency, accuracy, completeness, relevance and reliability of all information obtained or provided through this Site. You use these third-party materials at your own risk.
We welcome your comments and feedback regarding this Site and our products and services, including your ideas for new products and services (your “Comments”). All such Comments will be considered NON-CONFIDENTIAL and NON-PROPRIETARY. By submitting Comments, you assign to Piper Jaffray, free of charge, all of your right, title and interest in all copyrights and other intellectual property rights in your Comments and all related know-how. We will be entitled to use, make, reproduce, disclose, distribute, perform publicly, display publicly, create derivative works of, and reduce to practice any Comments submitted to us, for any purposes whatsoever, without restriction and without compensating you in any way.
Links to Other Piper Jaffray Sites
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Governing Law, Jurisdiction and Venue