1. Why did I receive this check?

You are entitled to receive a payment from the MCI Fair Fund arising out of In the Matter of Moors & Cabot, Inc. (“Moors & Cabot, Inc.” or “Company”), United States Securities and Exchange Commission (“SEC”) Administrative Proceeding File No. 3-21282.

2. What was the conduct underlying this settlement?

The allegations relate to the Company’s alleged failure to disclose conflicts of interest with respect to revenue sharing payments and financial incentives received from two unaffiliated clearing brokers between February 2017 and September 2021. According to the SEC, the Company did not adequately disclose the revenue sharing payments and financial incentive arrangements, in adequate detail to advisory clients. Importantly, The Company neither admitted nor denied the SEC findings.

3. Why did Moors & Cabot, Inc. settle?

The Company settled to avoid the cost of protracted litigation and to provide certainty for its clients and employees. As this was a legacy disclosure matter under prior ownership, settling this matter allowed the Company to move forward with the recent sale to Eighteen Ninety Partners LLC and move forward with the best interests of the Company’s clients in mind.

4. What does this mean for my account going forward?

Nothing! These were legacy issues from 2017-2021 and disclosures were revised and mailed to all clients in September of 2021. There are no changes to your advisory account or relationship with your financial professional. You will continue to receive the exemplary service under the same terms that you have always received from Moors & Cabot.

5. What happens if I do not cash the distribution check?

Once the distribution is closed, the funds no longer are available, and checks cannot be cashed. Checks WILL NOT be honored after the check stale date. All uncashed check proceeds will be returned to the SEC pursuant to the settlement Order.

6. If I want to deposit the payment back into the same advisory account, how do I do that?

We are required to send you a payment. If you would like it deposited into one of your accounts, please send in a new check made payable to RBC Capital Markets.

7. What are the tax ramifications of this distribution?

Due to the complexities involved, we have included additional information about the tax consequences of this distribution in a Statement to Affected Investors (“SAI”), which is available on the Tax Information page of this website. The SAI is not intended as tax advice but describes the tax-reporting positions taken and points out some issues eligible investors should consider, including the capital and interest components of the payment in addition to the type of account involved. You should review the information in the SAI with your tax advisor./p>

8. How long do I have to cash the check?

The check must be negotiated within 90 days of the check date. It is important you cash your check(s) as soon as possible to ensure you receive all money allocated to you from the distribution. Checks WILL NOT be honored after the stale date.

9. Why did I receive this amount?

Payments to affected investors were determined based on a calculation methodology reviewed and approved by the SEC.

10. What if I don't receive a check but I believe I should? What do I need to do if I disagree with the amount of the distribution check I received?

The payment amount was reviewed and approved by the SEC and includes an interest calculation. Payment amounts of less than $10.00 will not be distributed, as agreed with the SEC due to the cost of processing small dollar amounts. Please see the website www.mcifairfund.com for additional information or contact your Financial Professional to better understand your account holdings in 2017 through 2021, upon which the payments are based.

11. I have more than one account. Will I receive one check or multiple checks?

Depending on the account registration, address of record and eligibility, shareholders owning more than one account may receive one or more checks.

12. How can I contact Moors & Cabot, Inc.?

For questions related to the settlement or distribution, we can assist you. If you have a question related to your current or past investments please call Moors & Cabot, Inc. at 1-800-426-0501 or the phone number located on your most recent investment statement.

13. I work for a brokerage firm and Moors & Cabot, Inc. mailed one (or more) checks to us, and I don’t know what to do with them. What should I do?

Proceeds should be distributed to the affected investors. If you no longer have a relationship with the affected investor who received the check, you may return the check to Moors & Cabot, Inc. with a letter explaining your decision to not accept the payment(s). Please mail the letter and check to the address located on the check.

14. My check(s) has been lost/destroyed. What should I do?

You can request a replacement check over the phone or by sending a signed letter of instruction (LOI) requesting a replacement check via email, fax or by using the following mailing address.

Please forward your replacement request to:

Upon receipt, we will reissue a replacement check exactly as it was originally issued. Please allow 15 days from the date we receive your original request to receive the replacement check. Note you will have 30 days to negotiate the new check; otherwise, you may no longer be entitled to the proceeds.

15. I have an IRA/retirement account. What are the tax consequences for me?

You should consult with your financial advisor or tax professional to determine the appropriate tax treatment for your situation.

Due to the complexities involved, we have included additional information about the tax consequences of this distribution in a Statement to Affected Investors (SAI) available on the Tax Information page of this website.

16. I am over 70½ and received this payment because of my IRA. Is this counted as part of my Required Minimum Distribution (RMD)?

You should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your particular situation.

Due to the complexities involved, we have included additional information about the tax consequences of this distribution in a Statement to Affected Investors (SAI) available on the Tax Information page of this website.

17. I received a check made payable to my custodian. What do I do with this check

If your account is still with the custodian listed on the check, forward this check with a letter of instruction (LOI) to your current custodian to have them deposit the check into your account. Be sure to include your current account number with the correspondence.

What if my custodian has changed?

If your retirement account is with a different custodian send a letter of instruction (LOI) to the address on your check indicating your new custodian name.

We will mail a new check to you so you can forward it to your current custodian. Remember to include a letter of instruction (LOI) to your current custodian, explaining you want the check deposited into your account. Be sure to include your current account number with the correspondence.

NOTE: You will have 30 days to negotiate the new check.

18. What is a custodian?

A custodian is an agent, bank, trust company or other organization that holds and safeguards an individual’s mutual funds or investment company’s assets for them.

19. What are the consequences of cashing this check (IRA only)?

You will not be able to cash this check as it is currently written because it is made payable to your custodian for you.

If your retirement account is still with the custodian listed on the check, forward this check with a letter of instruction (LOI) to your current custodian, requesting the check be deposited into your retirement account. Be sure to include your current account number with the LOI.

You should consult with your financial advisor or tax professional prior to cashing the check to determine the potential tax consequences and appropriate tax treatment for your situation.

Due to the complexities involved, we have included additional information about the tax consequences of this distribution in a Statement to Affected Investors (SAI) available on the Tax Information page of this website.

20. Can I request my IRA check be made payable to myself?

If you wish to have this check made payable to yourself, you will need to do the following:

1. Send a letter of instruction (LOI) requesting it be made payable to you. In your letter of instruction, please include:
1. Your date of birth.
2. If the check is worth $600 or more, include a completed Reissue IRA to Individual Distribution Form (the form is available on the Tax Information page on this website).
2. Mail this information to the address found on the face of your check.

Please allow 30 days from the date we receive your original request to receive the replacement check. NOTE: You will have 30 days to negotiate the new check.

As always, you should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your particular situation.

Due to the complexities involved, we have included additional information about the tax consequences of this distribution in a Statement to Affected Investors (SAI) available on the Tax Information page of this website.

21. I received an IRA check made payable to a deceased family member. How can I have it made payable to myself?

If you wish to have this check made payable to yourself, you will need to do the following:

Please allow 30 days from the date we receive your original request to receive the replacement check. Note: You will have 30 days to negotiate the check; otherwise, you may no longer be entitled to the proceeds.

You should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your particular situation.

Due to the complexities involved, we have included additional information about the tax consequences of this distribution in a Statement to Affected Investors (SAI) available on the Tax Information page of this website.

22. I received an IRA check made payable to my deceased wife/husband/family member. How can I deposit it into my IRA?

If you wish to have this check made payable to your IRA, you will need to do the following:

1. Send us a letter of instruction (LOI) (if the check is for $250 or more, the letter must have a Medallion Signature Guarantee) listing your current custodian, requesting it be made payable to your IRA.
2. If you are not the spouse of the deceased, we require a Letter of Testamentary, a copy of the will or a copy of the designated IRA beneficiary form.
3. You also must include a copy of the deceased’s death certificate. (If the check is more than $250 it must be a certified copy of the death certificate.)
4. Send this information to the address found on the face of the check.
5. We will return the new check to you so you can forward it to your new Custodian. You should send the check to your Custodian with a letter of instruction (LOI) indicating what funds you want the check deposited into in your retirement account.

Please allow 30 days from the date we receive your original request to receive the replacement check. NOTE: you will have 30 days to negotiate the check; otherwise, you may no longer be entitled to the proceeds.

You should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your particular situation.

Due to the complexities involved, we have included additional information about the tax consequences of this distribution in a Statement to Affected Investors (SAI) available on the Tax Information page of this website.

23. My investment was in a tax-qualified plan. What should I do with this check?

If the check was made payable to the plan administrator and mailed to you and you are:

1. Still a participant in the tax-qualified retirement plan, contact your Retirement plan administrator to coordinate the deposit of the check to your retirement plan.
2. No longer are a participant in the tax-qualified plan but you are a Participant in another tax-qualified retirement plan, then you may affect a “direct rollover” to another eligible plan. The distribution must be rolled over within 60 days after receipt to be tax-free. Contact your plan trustee or administrator to coordinate the rollover.
3. No longer a participant in the tax-qualified plan and you no longer area participant in another tax-qualified retirement plan and you wish to have this check made payable to yourself, you will need to contact the Retirement Plan Trustee or Service Provider to negotiate the check you received. We are unable to reissue this check to you as it is considered Plan assets.

If your plan no longer is active or has been abandoned, we will require the following documentation to comply with your request:

• A copy of the Final Form 5500 for your former Retirement Plan (which may be found on www.freeerisa.com),
• A signed Abandoned Plan Affidavit Form, which can be found on the Tax Information page of this website, or it can be mailed to you,
• If the check is worth $600 or more, include a completed Reissue Non-IRA to Individual Distribution Form or Reissue Non-IRA to Beneficiary Distribution Form, which can be found on the Tax Information page of this website, or it can be mailed to you.

Before you negotiate this check, you should consult with your financial advisor or tax professional to determine the potential tax consequences and appropriate tax treatment for your particular situation.

Due to the complexities involved, we have included additional information about the tax consequences of this distribution in a Statement to Affected Investors (SAI) available on the Tax Information page of this website.

24. What is a Medallion Signature Guarantee (MSG) and where can I get one?

A Medallion Signature Guarantee (MSG) is a widely accepted way to protect you and the Funds by verifying the signatures on your request. Eligible participating members of the following programs may execute a Medallion Signature Guarantee: Securities Transfer Agents Medallion Program (STAMP); Stock Exchange Medallion Program (SEMP); and New York Stock Exchange, Inc., Medallion Signature Program (MSP). Many commercial banks, trust companies, credit unions, savings associations, brokerage firms, and registered broker-dealers can provide you with a Medallion Signature Guarantee. You should verify with the institution it is an acceptable (eligible) guarantor for the Stamp2000 Medallion Program prior to signing the request.