Privacy Policy

PRIVACY POLICY

 OVERVIEW

This Privacy Policy establishes rules to govern the collection, use and disclosure of personal information collected by Ross Smith Asset Management ULC (the “Firm”) in the course of business, in compliance with federal and provincial privacy laws including the Canada Personal Information Protection and Electronic Documents Act (PIPEDA), Alberta’s Personal Information Protection Act, British Columbia’s Personal Information Protection Act and Quebec’s Act respecting the protection of personal information in the private sector.

This Privacy Policy applies to all individuals whose personal information the Firm collects, uses or discloses in the course of business. This includes individuals who are investors and all individuals who are contract workers, contractors, and consultants to the Firm. It is our policy to only disclose your personal information as required or authorized by law or as otherwise set out in this policy.

We reserve the right to change this policy from time to time as industry practice, the law, and our procedures in this area may change from time to time.  We maintain our most current version of this policy on this site. If the changes are significant, we will provide a more prominent notice.

PERSONAL INFORMATION

For the purposes of this Privacy Policy, “personal information” means information about an identifiable individual. Where this Privacy Policy states that a list of items is “including”, the lists so described are meant to be examples and not exhaustive or exclusive.

This Privacy Policy applies to all personal information that is collected, used or disclosed by the Firm. The Firm has designated a Privacy Officer to be accountable for the operation of this Privacy Policy. Individuals may question or report any privacy concerns, breaches, violations or compliance issues to the Firm's Privacy Officer at the address indicated below.

If the policies and procedures outlined in this document do not address a specific situation, individuals are advised to contact the Firm's Privacy Officer for guidance or clarification. 

PERSONAL INFORMATION WE COLLECT

The Firm collects and uses only the personal information that we need for opening investor accounts and operating our business. Generally, the Firm collects the following personal information from individuals for the various purposes set out below:

·         name,

·         address, email address (work or home),

·         financial information

·         bank account information

·         citizenship

·         residency

·         passport and driver’s license number

·         marital status and spouse identity

·         employment information

·         income information

·         Social Insurance Number

The Firm collects, uses and discloses personal information for the following purposes:

·         to open accounts and qualify investors

·         to manage the Firm's business and operations, including investor relationships and contractor matters

·         to manage our funds, including disclosing personal information to our third-party fund administrator

·         to meet legal and regulatory requirements, including reporting to the Alberta Securities Commission and other regulatory bodies as applicable

·         to better understand an individual’s interests in our products and services

·         to deliver, develop, enhance or improve products and services

·         evaluate suitability of candidates for contract positions

·         establish and maintain contractor relationship

·         to enforce our legal relationship with you

·         as is necessary in contemplation of a business transaction

We normally collect information directly from you. We may collect your information from other persons with your consent or as authorized by law.  Before or at the time of collecting personal information, we identify the purposes for which we are collecting the information. We do not provide this notification when personal information is volunteered for an obvious purpose. If we wish to use or disclose your information for a new purpose not included in this policy, we will notify you and seek your consent.

If you have applied for employment with the Firm, the personal information submitted with your job application will be used for recruitment and other customary human resources purposes. For example, we may send you information about new job opportunities within the Firm as well as other career development resources.

CONSENT

Ordinarily we ask for consent to collect, use or disclose personal information, except in specific circumstances where collection, use or disclosure without consent is authorized or required by law. We may assume your consent in cases where you volunteer information for an obvious purpose. 

You may withdraw consent to the use and disclosure of personal information at any time, unless the personal information is necessary for us to fulfil our reasonable business or legal obligations. We will respect your decision, but we may not be able to provide you with certain products and services if we do not have the necessary personal information.

COLLECTION OF PERSONAL INFORMATION

The purpose for collecting personal information is set out in this policy. Any necessary consent shall be obtained before personal information is collected, used or disclosed. 

We ask for your express consent for some purposes and may not be able to provide certain services if you are unwilling to provide consent to the collection, use or disclosure of certain personal information. Where express consent is needed, we will normally ask clients to provide their consent orally (in person, by telephone), in writing (by signing a consent form), or electronically (by clicking a button).

To the extent authorized by law, in cases that do not involve sensitive personal information, we may rely on “opt-out” consent.

The amount and type of personal information collected by the Firm shall be limited to what is necessary to fulfill the identified purpose. Personal information shall only be used or disclosed for the purposes for which it is collected. Exceptions may be made with the consent of the individual or if authorized or required by law.

Personal information collected by the Firm or on behalf of the Firm will be sent to the Firm’s head office located at 305, 407 8th Ave SW, Calgary, AB T2P 1E5 and will be subject to the laws of Canada.

Please note that we may use cloud-based services to store information.  Where personal information is stored or processed outside of Canada, it is subject to the laws of that foreign jurisdiction, and may be accessible to that jurisdiction’s governments, courts or law enforcement or regulatory agencies.

SHARING OF PERSONAL INFORMATION

Your information may be made available by the Firm to third-parties or service providers to fulfill the purposes for which it has been collected or as set forth in this Privacy Policy. The Firm will not sell, rent or trade your personal information to any third party. However, we may share your personal information when authorized by law or as follows:

  • Third-party or affiliated service providers: We may hire service providers, which may be affiliates, to perform services on our behalf. We provide them with a limited amount of information which is necessary for them to provide the services required. They are prohibited from using the information for purposes other than to facilitate and carry out the services they have been engaged to provide. These service providers are not permitted to disclose this information to others. The Firm will strive to protect personal information disclosed to third parties by contractual agreements requiring that those third parties adhere to confidentiality and adequate security procedures.
  • As permitted or required by law: From time to time, the Firm may be compelled to disclose personal information in response to a law, regulation, court order, subpoena, valid demand, search warrant, government investigation or other legally valid request or enquiry. In these circumstances, the Firm will protect the interests of its customers by making reasonable efforts to ensure that orders or demands comply with the laws under which they were issued, that it discloses only the personal information that is legally required and nothing more, and that it does not comply with casual requests for personal information from government or law enforcement authorities. We may also disclose information to our accountants, auditors, agents and lawyers in connection with the enforcement or protection of our legal rights. We also reserve the right to report to law enforcement agencies any activities that we, in good faith, believe to be unlawful or to law enforcement and emergency services providers, in an emergency or where required or permitted by law. We may release certain personal information when we have reasonable grounds to believe that such release is reasonably necessary to protect the rights, property and safety of others and ourselves, in accordance with or as authorized by law.
  • Business transaction: We may disclose personal information to a third-party in connection with a sale or transfer of business or assets, an amalgamation, re-organization or financing of parts of our business. However, in the event the transaction is completed, your personal information will remain protected by applicable privacy laws. In the event the transaction is not completed, we will require the other party not to use or disclose your personal information in any manner whatsoever and to completely delete such information.

OBTAINING ACCESS TO PERSONAL INFORMATION

Upon request received by the Firm in writing, individuals shall be informed of the existence, use, and disclosure of their personal information records and shall be given access to that information. Requests to access personal information held by the Firm should be directed to the Firm's Privacy Officer privacy@rsam.ca

Requests must be made in writing or by e-mail. Individuals may be required to verify their identity in order to access their personal information. Any such documentation provided shall be used for verification purposes only.

The Firm responds to requests for access to personal information within thirty (30) days of receipt of the request, or as may be permitted in accordance with applicable privacy legislation.

A fee for reasonable costs incurred may be charged when responding to more complex requests, if authorized by law. The individual will be informed of the applicable fee.

Requested information will be provided in a form that is generally understandable.

The Firm will be as specific as possible when describing third parties to whom it has disclosed personal information about an individual.

Individuals are permitted either to view the original record, or to request a copy, subject to limitations as permitted or required by law. To preserve the integrity of the record and ensure that documents are not removed from the Firm, individuals wishing to view an original record will do so at the Firm's head office and under the supervision of designated the Firm personnel.

LIMITATION TO ACCESS

The Firm will only refuse access to information about you in those circumstances permitted or required by applicable privacy legislation.

In the event that the Firm refuses to provide access to information, it will provide you with the reasons for its refusal upon request. Exceptions may include information that contains references to or opinions of other individuals, information that cannot be disclosed for legal, security or commercial proprietary reasons, or information that is subject to solicitor-client or litigation privilege. The Firm will respond to your requests for access in accordance with applicable privacy legislation. 

MAINTENANCE OF PERSONAL INFORMATION

Personal information shall be kept as accurate, complete, and up-to-date as necessary for the purposes for which it is to be used.

Individuals have the right to challenge the accuracy and completeness of the personal information that is maintained by the Firm and have it amended as appropriate.

Individuals seeking a correction or amendment to their personal information should direct their requests in writing to the Firm's Privacy Officer: privacy@rsam.ca

All formal requests to amend personal information must be accompanied by appropriate supporting documentation. The Firm’s Privacy Officer will manage any exceptions. The amended information will be transmitted to third parties, as appropriate.

If the individual is not satisfied with the results of the request, the Firm shall internally document the issue, and provide a response. The existence of the unresolved challenge will be transmitted to third parties, as appropriate.

SECURITY OF PERSONAL INFORMATION

Personal information will be retained only as long as necessary and as required by applicable legislation and securities regulations and will be disposed of in a manner that is appropriate to the sensitivity of the information. We render client personal information non-identifying, or destroy records containing personal information once the information is no longer needed. We use appropriate security measures when destroying client personal information, including shredding paper records and permanently deleting electronic records.

Personal information will be protected by security safeguards, appropriate to the sensitivity of the personal information.

We will notify the Office of the Information and Privacy Commissioner of Alberta, and any other Privacy Commissioners as required, without delay, of a security breach affecting personal information if it creates a real risk of significant harm to individuals or as required under applicable laws.

CHALLENGING COMPLIANCE

Inquiries or complaints concerning compliance with this Privacy Policy should be addressed, in writing, to the Firm's Privacy Officer.

If you are not satisfied with the response from our Privacy Officer after making a complaint, you may have recourse to additional remedies under applicable privacy legislation. For further information, please contact the Federal Privacy Commissioner or your provincial Privacy Commissioner, as applicable.

QUESTIONS AND COMPLAINTS

If you have a question or concern about any collection, use or disclosure of personal information by the Firm, or would like to request access to your own personal information, please contact:

 

Privacy Officer: Ross Smith Asset Management ULC, 305, 407 8th Ave SW, Calgary, AB T2P 1E5 privacy@rsam.ca