Canadian Clients and Investors
ReSolve Asset Management Inc. (“ReSolve”) needs to collect private information from our clients and prospective clients in order to properly fulfill our duties. Understanding a client’s needs and wants, financial position and family circumstances enables us to ensure that all investment recommendations are suitable. This is both a regulatory requirement and good business. ReSolve is committed to protecting our clients’ privacy and the confidentiality of their personal information in our possession. This document explains the measures we take to fulfill these commitments.
WE ASK OUR CLIENTS FOR NO MORE PERSONAL INFORMATION THAN NECESSARY.
The “Know Your Client” information forms we ask clients to complete elicit only the information we need for contractual, regulatory and income tax requirements including: name, address, phone and fax numbers, email addresses, birth date, social insurance numbers, asset holdings and values, investment knowledge and objectives, spouse’s name and occupation, and children’s and dependents’ names and ages. Our application forms for registered retirement accounts elicit only the information needed to register these accounts with the government including: social insurance number, spouse’s or designated beneficiary’s name and birth date. We do not disclose any non-public personal information to any third party except as required by law or as outlined in this Policy.
WE LIMIT ACCESS TO CLIENTS’ PERSONAL INFORMATION.
We record clients’ personal information electronically on computer servers to which only authorized persons have access. Relevant employees may only access information by means of secure passwords. We authorize employees to have access to clients’ personal information only on a “need to know” basis. We have installed hardware and software security to keep our servers clean and secure. We maintain a duplicate copy of our data at an offsite location for disaster recovery purposes. This data is password protected. We keep paper copies of clients’ personal information in filing cabinets. We keep the computers and filing cabinets in which such information is stored in areas of our business premises that are kept locked when not in use.
WE PREVENT UNAUTHORIZED DISCLOSURE OF CLIENTS’ PERSONAL INFORMATION.
We train our employees to keep clients’ personal information strictly private and confidential. We require all of our staff to sign our privacy document that obliges them to respect and protect clients’ personal information. We ensure that departing staff understand they remain contractually obliged to respect the privacy of clients’ personal information. We shred paper documents containing clients’ personal information before discarding such documents.
WE EXPECT SIMILAR SAFEGUARDS FROM OUR SERVICE PROVIDERS.
WE TAKE PRIVACY SERIOUSLY.
US Clients and Investors
Adviser’s policy is to ensure the privacy and security of Client records.
Background & Description
Client information in the possession of an investment adviser is governed by federal law and, in some cases state law. The Gramm-Leach-Bliley Act (GLB) and Regulation S-P require financial institutions, including investment advisers, to provide a notice to each customer that describes the investment adviser’s policies and practices regarding the disclosure to third parties of nonpublic personal information. In general, the privacy notice must describe an investment adviser’s policies and practices with respect to disclosing nonpublic personal information about a Client to both affiliated and nonaffiliated third parties and provide a Client a reasonable opportunity to opt out of the sharing of nonpublic personal information about the Client with nonaffiliated third parties. As part of its privacy notice, the privacy rule requires an investment adviser to include specific items of information, such as the categories of nonpublic personal information that the investment adviser collects and the categories of third parties to which the investment adviser may disclose the information.
These privacy procedures are designed to:
- Ensure the security and confidentiality of Client information;
- Protect against any anticipated threats or hazards to the security or integrity of Client records and other Client information; and
- Protect against unauthorized access to, or use of, Client information that could result in substantial harm or inconvenience to any Client.
PRIVACY PROCEDURES DEFINITIONS
“Affiliate” of Adviser means any company that controls, is controlled by, or is under common control with Adviser.
“Consumer” means an individual who obtains or has obtained a financial product or service from Adviser that is to be used primarily for personal, family, or household purposes. For example, an individual is a consumer of Adviser if he or she provides nonpublic personal information to Adviser in connection with obtaining or seeking to obtain investment advisory services, whether or not Adviser provides advisory services to the individual or establish a “continuing relationship” with the individual.
“Continuing relationship” a consumer has a continuing relationship with Adviser if the consumer has entered into an investment advisory contract with Adviser (whether written or oral).
“Customer” means a consumer who has a “customer relationship” with Adviser.
“Customer relationship” means a “continuing relationship” between a consumer and Adviser under which Adviser provides one or more financial products or services to the consumer that are to be used primarily for personal, family, or household purposes.
“Nonaffiliated third party” means any person except:
- Adviser’s affiliate; or
- A person employed jointly by Adviser and any company that is not Adviser’s affiliate (but nonaffiliated third party includes the other company that jointly employs the person).
“Nonpublic personal information” does not include:
- Publicly available information, except when the publicly available information is disclosed in a manner that indicates the individual is or has been Adviser’s consumer; or
- Any list, description, or other grouping of consumers (and publicly available information pertaining to them) that is derived without using any personally identifiable financial information that is not publicly available information.
“Personally identifiable financial information” means any information:
- A consumer provides to Adviser to obtain a financial product or service from Adviser;
- About a consumer resulting from any transaction involving a financial product or service between Adviser and a consumer; or
- Adviser otherwise obtains about a consumer in connection with providing a financial product or service to that consumer.
“Publicly available information” means any information that Adviser reasonably believes is lawfully made available to the general public from:
- Federal, State, or local government records;
- Widely distributed media; or
- Disclosures to the general public that are required to be made by federal, State, or local law.
The CCO on the behalf of Adviser will maintain an updated privacy notice (“Privacy Notice”), the current version of which is attached below. The Privacy Notice will describe:
- The categories of nonpublic personal information that Adviser collects;
- The categories of nonpublic personal information that Adviser discloses;
- The categories of affiliates and nonaffiliated third parties to whom Adviser discloses nonpublic personal information, other than those parties to whom Adviser discloses information under exceptions to notice and opt out requirements for processing and servicing transactions and certain other exceptions in Regulation S-P;
- The categories of nonpublic personal information about Adviser’s former Clients that it discloses and the categories of affiliates and nonaffiliated third parties to whom Adviser discloses nonpublic personal information about its former Clients, other than those parties to whom Adviser discloses information under exceptions to notice and opt out requirements for processing and servicing transactions and other exceptions in Regulation S-P;
- Whether Adviser discloses information under exceptions to notice and opt out requirements for processing and servicing transactions and other exceptions in Regulation S-P;
- If Adviser discloses nonpublic personal information to a nonaffiliated third party under the exception to opt out requirements for service providers and joint marketing, the notice will contain a separate statement of the categories of information it discloses and the categories of third parties with whom it has contracted;
- An explanation of the consumer’s right under Regulation S-P to opt out of the disclosure of nonpublic personal information to nonaffiliated third parties, including the method(s) by which the consumer may exercise that right at that time;
- Any disclosures that Adviser makes under the Fair Credit Reporting Act (that is, notices regarding the ability to opt out of disclosures of information among affiliates); and
- Adviser’s policies and practices with respect to protecting the confidentiality and security of nonpublic personal information.
PRIVACY NOTICE DELIVERY
A copy of the Privacy Notice shall be provided to:
- An individual who becomes a “customer” of Adviser not later than when Adviser establishes a customer
relationship, or a “consumer,” before Adviser discloses any nonpublic personal information about the
consumer to any nonaffiliated third party; and
- Existing customers each year.
Adviser shall satisfy the annual delivery requirement if it provides its privacy notice to each Client at least once in any period of 12 consecutive months during which that Client relationship exists.
Adviser will provide privacy notices and opt out notices so that each consumer can reasonably be expected to receive actual notice in writing or, if the consumer agrees, electronically. Adviser may reasonably expect that a consumer will receive actual notice if it:
- Hand-delivers a printed copy of the notice to the consumer;
- Mails a printed copy of the notice to the last known address of the consumer; or
- For the consumer who conducts transactions electronically, posts the notice on the electronic site and requires the consumer to acknowledge receipt of the notice as a necessary step to obtaining a particular financial product or service.
CLIENTS WHO OPT OUT OF INFORMATION SHARING
Adviser does not share nonpublic personal information about a Client with third parties. If it were to do so, the CCO will provide each Client with a notice that allows Clients to opt out of such information sharing (“Opt Out Notice”).
The Opt Out Notice will be clear, conspicuous and accurately:
- Explain that Adviser discloses or reserves the right to disclose nonpublic personal information about Clients to a nonaffiliated third party;
- Explain that the Client has the right to opt out of that disclosure; and
- Provide the Client a reasonable means by which he or she may exercise the opt out right.
The CCO shall maintain a list of Clients who have opted to not permit their nonpublic personal information to be shared except to the extent permitted by law.
The following securities measures will be implemented and maintained to protect the confidentiality of Client information:
ENCRYPTION AND IDENTITY THEFT
The CCO will make sure that Adviser encrypts electronic Client information while in transit or in storage on networks or systems to which unauthorized individuals may have access. Adviser’s website (if any) and certain other electronic files will be encrypted if Client information is transmitted.
Adviser will take other measures to prevent outsiders from gaining access to Clients’ personal information, including preventing outsiders from obtaining Client information under false pretenses. Adviser will consider the use of passwords and other measures to ensure the correct identity of any person seeking information.
The CCO will cause Adviser to implement physical safeguards to protect non-public personal information that is in hard copy. Such safeguards will be designed to protect physical records against destruction, loss, or damage due to potential environmental hazards, such as fire and water damage or technological failures.
Electronic files containing Client information will operate under a “lock out” system whereby passwords or some other form of verification will be required to access Client data. In addition:
- Passwords will be periodically changed;
- Internal systems will be put in place that are designed to ensure that only authorized Adviser personnel can access the information contained in the system;
- Website servers (if any) used to gather and transmit personal data will be stored in secure and environmentally controlled locations; and
- Computer systems will be equipped to provide warnings of possible attacks or intrusions into information systems, accompanied by response mechanisms that take appropriate action when unauthorized access to protected information is suspected or detected.
SHARING CLIENT INFORMATION WITH THIRD PARTIES
No nonpublic personal information of a Client may be provided to a nonaffiliated third party service provider until the CCO has determined that there is a contractual agreement prohibiting the third party from disclosing or using the information other than to carry out the purposes for which the information is to be disclosed.
The CCO shall require, by contract, that each service provider implement appropriate measures designed to meet the objectives of these procedures and shall monitor its compliance therewith, and no service provider may be retained without the approval of the CCO.
FUND PRIVACY POLICIES
The CCO shall ensure that Adviser complies with all privacy policies adopted by Fund Clients.
The CCO shall report to the senior officers of Adviser on the condition and status of the Privacy Procedures not less frequently than annually. Access Persons of Adviser shall report any breaches or violations of these Privacy Procedures to the CCO.
To protect your privacy and provide our clients with a broad range of financial products and services as efficiently as possible, we use technology to manage and maintain client information. We want you to understand what information we collect and how we use it.
Information We Collect
We may collect personally identifiable information about you from the following sources:
- Information we receive from you on applications or other account forms;
- Information about your transactions with us, our affiliates or others;
- Information we receive from outside sources such as your financial consultant;
- Information obtained electronically, such as from our Website.
Information We Disclose
We do not disclose any confidential information about our clients or former clients to anyone, unless:
- such disclosure is required or permitted by law, statute or regulation;
- such disclosure to service or information providers is required in order to deliver our products and services to our clients. (e.g., custodians, transacting brokers, etc.)
For example, we use information to administer your accounts with us through such activities as sending you quarterly reports.
Our Security Procedures
We take steps to safeguard customer information. We restrict access to your personal and account information to those Access Persons who need to know that information to provide products or services to you. We also maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.
Should you need any further information please feel free to contact Mike Philbrick via email at email@example.com.