Privacy Policy
Westcourt Capital ULC (“Westcourt”) is required to collect personal information from its clients and prospective clients (collectively referred to in this Privacy Policy as the “Clients”) in order to properly fulfill its duties. The information collected is used to verify and update a Client’s identity (including but not limited to authorized signatories, representatives, and trusted contacts), protect against fraud; manage risk; assess, maintain, and, where applicable, manage a Client’s investments or accounts held at or with third party entities or institutions; permit Westcourt to communicate with a Client, fulfill its legal and regulatory obligations; improve the services provided; and enable due diligence on Westcourt for a business transaction. A Client’s personal information may also be shared with third parties, such as investment fund managers or custodians, in order to provide such services as subscribing for, managing, or redeeming investments or opening and managing accounts. These third parties may also ask Westcourt to collect additional personal information from the Client in order to fulfill their legal or regulatory requirements. A Client’s personal information may also be used for the prevention and detection of fraud or the evaluation and improvement of protection and security measures.
In addition, understanding a Client’s needs and wants, financial position, and family concerns enables Westcourt to ensure that all investment recommendations are suitable. This is both a regulatory requirement and consistent with sound business practices. Westcourt is committed to protecting its Clients’ privacy and the confidentiality of their personal information in our possession. If a Client’s relationship with Westcourt is terminated, Westcourt may be required to retain the information collected for legal or regulatory purposes.
Clients should advise their Westcourt representative or Westcourt’s Chief Compliance Officer of any changes to their personal information, such as a name or address change, to help ensure that Westcourt has the most current and accurate information on file. These changes may be provided to third parties described in this policy to maintain their legal and regulatory obligations and to ensure continuity of service to the Client.
This Privacy Policy outlines the measures Westcourt shall undertake to fulfill these commitments.
We ask our Clients for no more personal information than is necessary.
The “Know Your Client” information forms that Clients must complete elicit only the information needed to fulfill contractual, regulatory, and income tax requirements including: (i) name, (ii) address, (iii) phone numbers, (iv) email address, (v) birth date, (vi) social insurance number or other similar tax identification number, (vii) income and asset holdings and values, (viii) investment knowledge and objectives, (ix) name and other information about a Client’s family, and (x) trusted contact information. Westcourt’s application forms for registered accounts elicit only the information needed to register these accounts with the relevant authorities including: (a) social insurance number or tax identification number, (b) net worth and (c) spouse’s or designated beneficiary’s name and birth date. Westcourt may also collect personal information indirectly about a Client from third parties or sources available to the public. Westcourt does not disclose any non-public personal information to any third party except for legal or regulatory purposes or as outlined in this Privacy Policy.
Please note that a Client can withdraw his or her consent to the collection, use, and disclosure of his or her personal information unless Westcourt is required to collect, use, or disclose a Client’s personal information for legal, business, or contractual reasons. If a Client seeks to withdraw their consent in certain situations, Westcourt may not be able to provide, continue to provide, or obtain for a Client the products and/or services requested or to establish or continue its business relationship with the Client. In turn, this may affect the ability for certain third parties to be able to continue to provide a Client with the products and/or services. Clients should note that even if they withdraw their consent, they will still continue to receive any prescribed notices that Westcourt is required by law to provide to their Clients and information about their current investments. In the event Westcourt’s relationship with a Client ends, the personal information collected will be retained and/or destroyed in accordance with Westcourt’s legal and regulatory obligations.
We limit access to Clients’ personal information.
Westcourt records Clients’ personal information electronically on data servers to which only authorized persons have access, and only by means of secure passwords. Employees are authorized to have access to Clients’ personal information only on a “need to know” basis. Hardware and software security have been installed to ensure the protection of its computer systems from both internal and external sources. Westcourt maintains all confidential and material data electronically on Cloud based data centres for disaster recovery purposes. All data is encrypted and password protected. Paper copies of Clients’ personal information are kept in secure filing cabinets at Westcourt’s business premises that are locked when not in use. As described in this Privacy Policy, a Client’s personal information will also be disclosed to third parties, such as investment fund managers or custodians, in order to provide such services as making, managing, or redeeming investments or opening and managing accounts. In such cases, those third parties may operate outside of Ontario and Canada. A Client’s personal information may therefore be used and stored in other provinces and countries and subject to the privacy policy of those third parties. In some cases, that information may be subject to the laws and access rights of authorities in foreign countries, including the United States.
We prevent unauthorized disclosure of Clients’ personal information.
All Westcourt employees have been explicitly instructed to keep Clients’ personal information strictly private and confidential. All employees are required to sign Westcourt’s Compliance Manual that obliges them to respect and protect Clients’ personal information. Westcourt ensures that departing employees understand they remain contractually obliged to respect the privacy of Clients’ personal information. Should they be discarded, paper documents containing Clients’ personal information are first shredded.
We expect similar safeguards from our service providers.
Westcourt may use service providers for various services such as technology, administration, printing, marketing, legal, custodian, and accounting. Such service providers are required to keep confidential any personal information that they receive and have a similar privacy policy or to agree to, acknowledge, and abide by Westcourt’s Privacy Policy.
We take privacy seriously.
From time to time, Westcourt may make changes to this Privacy Policy. Westcourt’s Chief Compliance Officer (“CCO”) is responsible for ensuring that Westcourt adheres to its privacy policy. The CCO is responsible for instructing and overseeing Westcourt’s employees in its privacy policies and for monitoring the fulfillment of its privacy commitments. Any Client wishing to review or correct his or her personal information in Westcourt’s possession or has questions about Westcourt’s privacy program may send a written request to this effect to their Westcourt representative or the CCO ([email protected]). Please note that some requests for access to personal information may be restricted by law.
We take privacy seriously.
Westcourt may change this policy from time to time. Clients will be notified by a notice posted on Westcourt’s website.