791963--3/3/2009--OPPENHEIMER_HOLDINGS

related topics

{stock, price, share}

{loss, insurance, financial}

{personnel, key, retain}

{condition, economic, financial}

{system, service, information}

{tax, income, asset}

{product, market, service}

{competitive, industry, competition}

{stock, price, operating}

{debt, indebtedness, cash}

{financial, litigation, operation}

{operation, international, foreign}

{acquisition, growth, future}

{operation, natural, condition}

{regulation, government, change}

{loan, real, estate}

Developments in market and economic conditions have adversely affected, and may in the future adversely affect, the Company s business and profitability. The Company may be adversely affected by the failure of the Auction Rate Securities Market. Markets have experienced, and may continue to experience, periods of high volatility accompanied by reduced liquidity. The Company has experienced significant pricing pressure in areas of its business, which may impair its revenues and profitability. The volume of anticipated investment banking transactions may differ from actual volume. The ability to attract, develop and retain highly skilled and productive employees is critical to the success of the Company s business. The Company depends on its senior employees and the loss of their services could harm its business. Underwriting and market-making activities may place capital at risk. Increases in capital commitments in our proprietary trading, investing and similar activities increase the potential for significant losses. The Company may make strategic acquisitions of businesses, engage in joint ventures or divest or exit existing businesses, which could result in unforeseen expenses or disruptive effects on its business. If the Company is unable to repay its outstanding indebtedness when due, its operations may be materially, adversely affected. The Company is subject to extensive securities regulation and the failure to comply with these regulations could subject it to penalties or sanctions. Failure to comply with net capital requirements could subject the Company to suspension or revocation by the SEC or suspension or expulsion by FINRA. If the Company violates the securities laws, or is involved in litigation in connection with a violation, the Company s reputation and results of operations may be adversely affected. The value of the Company s goodwill and intangible assets may become impaired. Severe weather, natural disasters, acts of war or terrorism and other external events could significantly impact the Company s business. The Company s risk management policies and procedures may leave it exposed to unidentified risks or an unanticipated level of risk. Credit risk may expose the Company to losses caused by the inability of borrowers or other third parties to satisfy their obligations. Defaults by another large financial institution could adversely affect financial markets generally. The failure of guarantors could adversely affect the pricing of securities and their trading markets. The precautions the Company takes to prevent and detect employee misconduct may not be effective and it could be exposed to unknown and unmanaged risks or losses. The Company s information systems may experience an interruption or breach in security. The Company continually encounters technological change. The business operations that are conducted outside of the United States subject the Company to unique risks. Risks associated with the Company s stock. The Company s stock price can be volatile. The trading volume in the Company s Class A Shares is less than that of larger financial services companies. The holders of Class A Shares do not have the ability to vote on most corporate matters which limits the influence that these holders have over the Company. Possible additional issuances of the Company s stock will cause dilution.

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791963--3/3/2009--OPPENHEIMER_HOLDINGS_INC