Instant messages and any attachments, received by or sent from Keefe Bruyette & Woods, Inc. ("KBW") will be logged by the IM Administrator and are subject to archival, monitoring, or review and/or disclosure to someone other than the recipient.

Instant messages and any attachments may contain confidential information. If you are not the intended recipient, please do not copy, retain, forward, disclose or use the message or its attachments. If you received this instant message in error, immediately notify the sender by return instant message and close out the session. Any other action taken or use of this information by anyone other than the intended recipient is unauthorized.

Communications over the Internet, including instant messages, cannot be guaranteed to be secure or error-free. Instant messages and any attachments are subject to being intercepted and scanned for viruses by authorized KBW personnel.