Pursuant to Securities and Exchange Commission (“SEC”) Regulation S-P, investment advisers must adopt and implement policies and procedures designed to: 1) ensure the security and confidentiality of Client and Investor records and information; 2) protect against any anticipated threats or hazards to the security or integrity of Client and Investor records and information; and, 3) protect against unauthorized access to or use of Client or Investor records or information that could result in substantial harm or inconvenience to any Client or Investor. Furthermore, investment advisers must provide their Clients and Investors with an initial privacy notice at the time a Client or Investor relationship is established and an annual privacy notice thereafter. As private fund(s) or other pooled investment vehicle(s) are not natural persons, investment advisers are not required to provide privacy notices to each private fund or other pooled investment vehicle Client; however, Federal Trade Commission (“FTC”) rules require that the private fund(s) or other pooled investment vehicle(s) provide their Investors, who are natural persons, with initial and annual privacy notices.
Consequent collects nonpublic personal information about its Clients and Investors to serve investment needs, provide customer service, offer new products and services, and comply with legal and regulatory requirements. In particular, Consequent collects information to help determine which products and services Clients or Investors are eligible for and which products and services are suited to its Clients or Investors. The type of nonpublic personal information Consequent collects from Clients and Investors may include the following:
- telephone number,
- information regarding existing securities accounts,
- educational and employment history,
- prior investment experience with different types of investment vehicles, and any relationships a client may have with others involved in the securities business,
- social security number, and
- financial status (assets and income).
Consequent collects this information about its Clients and Investors from the following sources:
- documents such as application forms (including subscription documents),
- transactions with Consequent and its affiliates in which the Client or Investor participates, and
- correspondence and other communications (including telephone, mail and e-mail) with Clients or Investors.
IV. Opt Out Right
V. Confidentiality and Security
Except as described below, access to nonpublic information about Clients or Investors, former Clients or Investors, and prospective Clients or Investors is restricted to Consequent employees who need to know that information in order to provide products or services to Clients or Investors. Those employees with access to nonpublic personal information are required to protect the confidentiality of that information. Consequent maintains physical and procedural safeguards to protect nonpublic personal information.
VI. Physical Safeguard Procedures
- When in use, Client or Investor information should not be left unattended under any circumstances.
- Consequent’s offices are located in secured buildings and are locked at all times to prevent unauthorized entry onto the premises.
- Physical access to Consequent’s offices is limited to authorized personnel only and any visitors should remain escorted at all times.
- Any hard copy documents containing Client or Investor information that are not to be retained are to be shredded promptly.
VII. Electronic Safeguard Procedures
- All PCs with access to Client or Investor information should be password protected and have active and current anti-virus, anti-spyware, and firewall protection.
- When not in use, all PCs should be locked in screen saver mode.
VIII. Uses of Information
For Clients that have managed accounts and/or consulting agreements, Client information may be used internally to provide advisory services to Clients, to open an advisory account and one or more securities brokerage accounts, to process transactions for Client accounts, for account maintenance and otherwise to provide investment advisory services, as necessary.
Consequent may also provide nonpublic personal information (including each type of nonpublic information that is collected as listed above) about its Clients and Investors and former Clients and Investors to:
- unaffiliated financial service providers without providing the Client or Investor the ability to opt out, such as administrators, broker-dealers, custodians or other firms under certain circumstances which may be that the unaffiliated third party has a need for such information in order to effect, administer, or enforce a transaction that a consumer requests or authorizes, service or process a financial product or service requested or authorized by a Client or Investor or who will maintain or service a Client’s or Investor’s account on Consequent’s behalf in order to execute trades or to hold securities on the Client’s or Investor’s behalf,
- broker-dealers, administrators, and other financial institutions in connection with determinations of eligibility to participate in initial public offerings,
- broker-dealers, issuers, and their counsel in connection with determinations of eligibility and participation in private securities placements,
- attorneys, accountants, and auditors retained by Consequent, to the extent required by them to perform services for Consequent and its Clients or Investors,
- for purposes of compliance with IRS or FATCA reporting requirements,
- as permitted or required by federal state or local law, such as in response to a subpoena, to prevent fraud or to comply with an inquiry or other requirement of a governmental agency or regulator, and
- to an affiliate whose privacy and confidentiality policy is at least co-extensive with Consequent.
Consequent does not otherwise provide nonpublic personal information about Clients or Investors, former Clients or Investors or prospective Clients or Investors to anyone without the consent of the Client or Investor.
This policy applies to Consequent, its owners and affiliated entities, and to each private investment vehicle and managed account and consulting client sponsored by Consequent or for which Consequent, its owners, or any of their affiliates serves as general partner or in a similar capacity. Please see below for a list of Consequent’s affiliated entities.
If you have any questions, please call the Chief Compliance Officer, at (404) 883-2544.