DNC | TSR | TCPA | LUMINARY FINANCIAL

POLICIES REGARDING THE TELEMARKETING SALES RULE (TSR), THE TELEPHONE CONSUMER PROTECTION ACT (TCPA) AND THE DO NOT CALL (DNC) REGISTRY

THE TELEMARKETING SALE RULE (TSR)
The Federal Trade Commission (FTC) amended the Telemarketing Sales Rule (TSR) in 2003, 2008, 2010 and 2015. Like the original TSR issued in 1995, the amended Rule gives effect to the Telemarketing and Consumer Fraud and Abuse Prevention Act (TCFPA). The Telemarketing Sales Rule:

• Requires disclosures of all “Material” Information
• Prohibits misrepresentations about: Material Restrictions, Limitations, Conditions, Performance, Efficacy, Central Characteristics, Refund, Repurchase, or Cancellation Policies
• Only allows calls between 8 a.m. and 9 p.m. (local time of the person being called);
• Only allows calls and texts to numbers not on the National Do Not Call List (DNC);
• Requires transmission of Caller ID information
• Prohibits abandoned outbound calls (subject to a safe harbor)
• Prohibits unauthorized billing
• Applies to all upsells, even in unsolicited calls from a consumer
• Sets payment restrictions for the sale of certain goods and services
• Requires that business records (such as sales/recordings) be kept for two years
• Restricts pre recorded messages in telemarketing calls without prior signed, written agreement
• Prohibits deceptive and abusive practices associated with debt relief services.
• Prohibits the use of remotely created payment orders and checks, cash-to-cash money transfers, and cash reload mechanisms in both outbound and inbound telemarketing.

THE TELEPHONE CONSUMER PROTECTION ACT (TCPA)
The federal Telephone Consumer Protection Act (TCPA), related FCC regulations, and related court interpretations protect consumers from specific types of telemarketing. Under the TCPA “telemarketing” is defined as “the initiation of a telephone call or message for the purpose of encouraging the purchase or rental of, or investment in, property, goods, or services, which is transmitted to any person.” 47 C.F.R. § 64.1200(f)(12). The TCPA restricts cold calls, pre-recorded sales calls, and the use of autodialers. The TCPA also authorized the creation of the National Do Not Call Registry, which is discussed more fully below. The TCPA Mandates that Telemarketers:

• Maintain a Do not Call Policy;
• Provide a copy of the Policy to requesting consumers;
• Only make calls between 8 a.m. and 9 p.m. (local time of the person being called);
• Only make calls and texts to numbers not on the National Do Not Call List (DNC);
• Only make calls and texts to numbers not on the business’ internal do not call list;
• Restrict the use of automatic telephone dialer systems to cell phones without express consent
• Restrict the use of artificial or prerecorded voice recordings to consumers without express consent
• Identify the Caller ID information: Name, Location, and Company name.

GENERAL STATEMENT OF COMPANY POLICY
While Luminary Financial does not engage in Telemarketing, we do in fact do business over the phone. Most of today’s marketing methodologies and enrollment procedures can still potentially be subject to these regulations even though we are not “Telemarketing”. As a Company wide Mandate, Luminary Financial requires strict internal compliance with these laws at all times; assume every activity is subject to these regulations. All employees, independent contractors, vendors, and any persons or entities purporting to act on behalf of the Luminary Financial are strictly forbidden from making any telemarketing calls without first consulting with the Corporate Compliance department on appropriate procedures adhering to the TSR, TCPA, DNC and applicable state laws. Agents and brokers conducting telemarketing in reference to a product or marketing initiative of Luminary Financial or any Luminary Financial affiliate or subsidiary shall fully adhere to the TSR, TCPA, DNC and any related federal laws, regulations and rules, and all applicable state laws (“Telemarketing Laws”).

There are strict penalties for noncompliance with Telemarketing Laws. Violators may be subject to legal penalties, and, as applicable, may result in contract termination, employment termination or other disciplinary measures by Luminary Financial.

LUMINARY FINANCIAL DO NOT CALL POLICY
In 2003, a National Do Not Call Registry was established through the efforts of the Federal Trade Commission (FTC) and the Federal Communication (FCC). The registry is a list of telephone numbers (residential and cell) from consumers who do not want to receive telephone solicitation calls to the registered telephone number. A telephone number registered on the National Do Not Call Registry must not be called for telemarketing purposes unless the caller has an existing business relationship with the individual being called or the individual being called has given the caller express consent to be called.

This policy applies to all Luminary Financial associates and its third-party contractors, including producers, registered representatives, agents and brokers, telemarketers and agencies to the extent that they provide services on behalf of the Company.

PRACTICES AND PROCEDURES
Luminary Financial is committed to complying with applicable Do Not Call laws and shall maintain an internal Do Not Call list (“Internal DNC List”) which will be readily available for viewing inside our CRM database or via .xls / .csv upon request to your manager . If any person under the scope of these policies and procedures receives a notification, whether oral or written, from a client or prospective client, that they wish to be placed on the Luminary Financial Internal DNC List, such person shall notify the Compliance Office within five (5) business days of receiving the request. The Compliance Office shall be responsible for updating and maintaining the Internal DNC List. The Internal DNC List shall be updated no later than 30 days after the receipt of a new number.

• Telephone solicitations shall not be placed to any telephone number that is maintained on the Internal DNC List.
• Telephone solicitations shall not be placed to any telephone number that is maintained on any applicable State Do Not Call Registry unless the entity or individual making the call complies with the relevant requirements of that state in regard to such calls.
• Telephone solicitations shall not be placed to any telephone number that is maintained on the National Do Not Call Registry unless:
• Within the preceding eighteen (18) months, the subject of the telephone solicitation has had an established business relationship with the Company. The term established business relationship means a prior or existing relationship formed by a voluntary two-way communication between a person or entity and a residential subscriber with or without an exchange of consideration, on the basis of the subscriber’s purchase or transaction with the entity within the eighteen (18) months immediately preceding the date of the telephone call or on the basis of the subscriber’s inquiry or application regarding products or services offered by the entity within the three months immediately preceding the date of the call, which relationship has not been previously terminated by either party. The subscriber’s seller-specific do-not- call request, terminates an established business relationship for purposes of telemarketing and telephone solicitation even if the subscriber continues to do business with the seller. The subscriber’s established business relationship with a business entity does not extend to affiliated entities unless the subscriber would reasonably expect them to be included given the nature and type of goods or services offered by the affiliate and the identity of the affiliate.
• Within the preceding three (3) months, the subject of the telephone solicitation has given express permission to the Company;
• The subject of the telephone solicitation has a personal relationship with the caller.
• Telephone solicitations may not be placed before 8:00 a.m. or after 9:00 p.m. in the local time of the subject of the telephone solicitation without prior express permission.
• Upon making a telephone solicitation, the caller must provide the recipient of the call the following information:
• Caller’s name;
• Name and address or telephone number of the Company, or the representative to which the caller is affiliated. A toll-free number may be used, 900 numbers are strictly prohibited;
• A statement that informs the subject that the purpose of the call is to solicit the purchase of products and services.

Individuals who violate these policies and procedures must be reported to the Compliance Office promptly. Any complaint regarding the violations of these policies and procedures should be referred to the Compliance Office for coordination and handling.

We respect the Compliance of all our customers, and we strive to provide the best possible customer service. If you feel that you have been contacted in violation of this policy or applicable Federal or State law, then please contact us immediately.

LUMINARY FINANCIAL
ATTN: COMPLIANCE
548 Market St. #23508
San Francisco, CA 94104
Phone: 1-800-222-4755
support@luminaryfinancial.com