DISCLOSURE OF NON-PUBLIC PERSONAL INFORMATION
Menai does not disclose Non-Public Personal Information to third parties other than as described below.
Menai collects Non-Public Personal Information (such as name, address, social security number, assets and income) from its discussions with Investors, from documents delivered to Menai by Investors, and in the course of providing advisory services. Menai may use this information to provide advisory services or otherwise in furtherance of Menai’s business. To effect investments, Menai may provide Non-Public Personal Information to its affiliates and to firms that assist Menai in servicing Advisory Clients and have a need for such information. Menai may also provide such information to service providers which could include financial institutions with which Menai has joint marketing arrangements, if any. Menai uses reasonable best efforts to require that any person or institution to which it discloses Non-Public Personal Information will protect the confidentiality of that information and use the information only for the purposes for which Menai discloses the information to them. Menai does not otherwise provide Non-Public Personal Information to outside firms, organizations, or individuals except to its Administrators, attorneys, accountants, compliance consultants and auditors and as permitted by law.
Menai restricts access to Non-Public Personal Information to Employees who need to know such information. Menai maintains physical, electronic and procedural safeguards that comply with federal standards to guard Non-Public Personal Information.
To generally ensure that Non-Public Personal Information is safeguarded, Menai has adopted the following internal procedures:
(1) access to Non-Public Personal Information is restricted to Employees and service providers that need to access such information to engage in business activities on behalf of Menai;
(2) after business hours, hard-copies of Investors’ Non-Public Personal Information are kept in locked file cabinets or in a locked file room;
(3) Menai computers and blackberries have inactivity time-outs and password protection
(4) visitors to Menai’s office must be authorized by an Employee; and
(5) Non-Public Personal Information is securely disposed of as set forth below.
C. Disposal of Non-Public Personal Information
In order to protect against the risks of fraud and fraud-related crimes, including identity theft, Menai has also adopted the following internal procedures relating to the secure disposal of Non-Public Personal Information:
(1) to the extent not covered under Advisers Act Rule 204-2, hard copies of Non-Public Personal Information (or any extra hard-copies of Non-Public Personal Information, whether or not covered by Advisers Act Rule 204-2) shall be destroyed in a manner so that such information cannot be practicably read or reconstructed; and
(2) to the extent not covered under Advisers Act Rule 204-2, Non-Public Personal Information which is stored on disk, CD, tape or other electronic media shall be cleared, purged, declassified, overwritten and/or encrypted in such a manner so that any information contained therein cannot be restored or decrypted;
(3) As a general matter, the Chief Compliance Officer will require that each third-party service provider engaged by Menai that obtains access to Non-Public Personal Information during the course of its services to Menai have similar policies and procedures relating to the secure use, maintenance and disposal of Non-Public Personal Information. This will generally be accomplished by sending such third-party service providers a copy of Menai’s privacy notice and requesting such third-party service providers affirm they have privacy policies and procedures that are at least as stringent as Menai’s policies and procedures.
D. State Privacy Laws
Certain states have adopted additional consumer privacy laws that may be applicable to investment advisers with investors who are residents of those states. For example, Massachusetts requires any company with personal information about a resident of Massachusetts to adopt and implement a comprehensive information security program. Such security program must include appropriate administrative, technical, and physical safeguards to maintain the security of personal information relating to Massachusetts residents.
To ensure compliance with state privacy laws, the Chief Compliance Officer will, in consultation with outside counsel and/or compliance consultants to the extent appropriate, periodically review state laws and determine whether Menai’s policies and procedures are adequate in light of such review. To the extent required, Menai will revise its procedures in order to comply with such laws.
E. Privacy Notice
Menai will deliver initial notification of its privacy policies and procedures to Investors and an annual notice to current Investors thereafter in the form of a privacy notice. Menai generally provides the initial notice to Investors by including it in the offering documents or subscription agreements. An acceptable method for delivering an annual notice would be through a cover letter accompanying a monthly statement, quarterly letter to current Investors, or Form ADV Part 2. The Chief Compliance Officer, or his Designated Person, is responsible for ensuring that initial and annual privacy notices are distributed in accordance with the above requirements.
If an Employee has any doubt as to whether certain data constitutes Non-Public Personal Information, such Employee shall consult with the Chief Compliance Officer.
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Cryptoassets are not regulated by the Financial Conduct Authority. Please be aware that you will have no recourse to the Financial Ombudsman Service or to the Financial Services Compensation Scheme in the event of a complaint relating to cryptoassets. Cryptoassets may experience frequent price volatility resulting in a high degree of risk.
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Suspension or Termination of Access
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Date: February 2021
Menai Financial Group
- IMPORTANT INFORMATION AND WHO WE ARE
- THE DATA WE COLLECT ABOUT YOU
- HOW IS YOUR PERSONAL DATA COLLECTED
- HOW WE USE YOUR PERSONAL DATA
- DISCLOSURES OF YOUR PERSONAL DATA
- INTERNATIONAL TRANSFER
- DATA SECURITY
- DATA RETENTION
- YOUR LEGAL RIGHTS
1.IMPORTANT INFORMATION AND WHO WE ARE
This website is not intended for children and we do not knowingly collect data relating to children.
We will let you know which entity will be the controller for your data when you purchase a product or service with us. Menai Financial Group LLC is the controller and responsible for this website.
We are not required to appoint a mandatory Data Protection Officer (DPO). Where a mandatory DPO has not been appointed, this term means a data privacy manager or other voluntary appointment of a DPO or refers to the Company data privacy team with responsibility for data protection compliance.
Email address: firstname.lastname@example.org
Postal address: The Compliance Officer, Menai Asset Management (UK) Ltd, 100 Liverpool Street, 2nd floor, London EC2M 2AT, UK.
You have the right to make a complaint at any time to the Information Commissioner’s Office (ICO), the UK regulator for data protection issues (www.ico.org.uk). We would, however, appreciate the chance to deal with your concerns before you approach the ICO so please contact us in the first instance.
It is important that the personal data we hold about you is accurate and current. Please keep us informed if your personal data changes during your relationship with us.
2.THE DATA WE COLLECT ABOUT YOU
Personal data, or personal information, means any information about an individual from which that person can be identified. It does not include data where the identity has been removed (anonymous data).
We may collect, use, store and transfer different kinds of personal data about you. The data we collect will depend on type of interaction or type of service we provide to you. The data that we may collect has been grouped together as below:
- Identity Data includes first name, maiden name, last name, username or similar identifier, marital status, title, date of birth and gender.
- Contact Data includes residential address, email address and telephone numbers.
- Financial Data includes bank account details.
- Transaction Data includes details about payments to and from you and other details of products and services you have purchased from us.
- Technical Data includes internet protocol (IP) address, your login data, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform, and other technology on the devices you use to access this website.
- Profile Data includes your username and password, preferences and feedback.
- Usage Data includes information about how you use our website.
- Marketing and Communications Data includes your preferences in receiving marketing from us and your communication preferences.
We do not collect any Special Categories of Personal Data about you (this includes details about your race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health, and genetic and biometric data). Nor do we collect any information about criminal convictions and offences.
IF YOU FAIL TO PROVIDE PERSONAL DATA
Where we need to collect personal data by law, or under the terms of a contract we have with you, and you fail to provide that data when requested, we may not be able to perform the contract we have or are trying to enter into with you. In this case, we may have to cancel a product or service you have with us but we will notify you if this is the case at the time.
3.HOW IS YOUR PERSONAL DATA COLLECTED?
We use different methods to collect data from and about you including through:
- Direct interactions. You may give us your Identity, Contact and Financial Data by filling in forms or by corresponding with us by post, phone, email or otherwise. This includes personal data you provide when you:
- subscribe to our products or services;
- sign up to newsletters; or
- give us feedback or contact us.
- Third parties or publicly available sources. We may receive personal data about you from various third parties and public sources as set out below:
- Technical Data from the following parties:
(a) analytics providers such as Google based outside the UK;
- Information providers such as:
- Identity and Contact Data from data aggregators such as Preqin based inside the UK.
- Identity and Contact Data from publicly available sources such as Companies House and the Electoral Register based inside the UK and equivalent registers outside of the UK.
- Identity Data from third party AML KYC providers as part of our regulatory requirement to screen prospective clients before undertaking business with them.
- Technical Data from the following parties:
4.HOW WE USE YOUR PERSONAL DATA
We will only use your personal data when the law allows us to. Most commonly, we will use your personal data in the following circumstances:
- Where we need to perform the contract we are about to enter into or have entered into with you.
- Where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests.
- Where we need to comply with a legal obligation.
See below in the Glossary under Lawful Basis to find out more about the types of lawful basis that we will rely on to process your personal data.
Generally, we do not rely on consent as a legal basis for processing your personal data although we will get your consent before sending third party direct marketing communications to you via email or text message. You have the right to withdraw consent to marketing at any time by contacting us.
PURPOSES FOR WHICH WE WILL USE YOUR PERSONAL DATA
We have set out below, in a table format, a description of all the ways we plan to use your personal data, and which of the legal bases we rely on to do so. We have also identified what our legitimate interests are where appropriate.
Note that we may process your personal data for more than one lawful ground depending on the specific purpose for which we are using your data. Please contact us if you need details about the specific legal ground we are relying on to process your personal data where more than one ground has been set out in the table below.
|Purpose/Activity||Type of Data||Lawful basis for processing including basis of legitimate interest|
|To register you as a potential new customer or potential investor||(a) Identity
|Performance of a contract with you|
|To process and deliver a product or a service to you including managing payments, fees and charges||
(e) Marketing and Communications
|(a) Performance of a contract with you
(b) Necessary for our legitimate interests
|To manage our relationship with you which will include:
(d) Marketing and Communications
(a) Performance of a contract with you
(b) Necessary to comply with a legal obligation
|To administer and protect our business and this website (including troubleshooting, data analysis, testing, system maintenance, support, reporting and hosting of data)||
|(a) Necessary for our legitimate interests (for running our business, provision of administration and IT services, network security, to prevent fraud and in the context of a business reorganisation or group restructuring exercise)
(b) Necessary to comply with a legal obligation
|To deliver relevant website content.||
(e) Marketing and Communications
|Necessary for our legitimate interests (to study how customers use our website)|
|To use data analytics to improve our website, products/services, marketing, customer relationships and experiences||
|NNecessary for our legitimate interests (to define types of customers for our products and services, to keep our website updated and relevant, to develop our business and to inform our marketing strategy)|
We strive to provide you with choices regarding certain personal data uses, particularly around marketing and advertising.
We may use your Identity, Contact, Technical, Usage and Profile Data to form a view on what we think you may want or need, or what may be of interest to you. This is how we decide which products, services and offers may be relevant for you (we call this marketing).
You will receive marketing communications from us if you have requested information from us and you have not opted out of receiving that marketing.
You can ask us to stop sending you marketing messages at any time by contacting us at any time.
Where you opt out of receiving these marketing messages, this will not apply to personal data provided to us as a result of a product/service purchase.
CHANGE OF PURPOSE
We will only use your personal data for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If you wish to get an explanation as to how the processing for the new purpose is compatible with the original purpose, please contact us.
If we need to use your personal data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so.
Please note that we may process your personal data without your knowledge or consent, in compliance with the above rules, where this is required or permitted by law.
5.DISCLOSURES OF YOUR PERSONAL DATA
We may share your personal data with the parties set out below for the purposes set out in the table Purposes for which we will use your personal data above.
- Internal Third Parties as per the Glossary below.
- External Third Parties as per the Glossary below.
We require all third parties to respect the security of your personal data and to treat it in accordance with the law. We do not allow our third-party service providers to use your personal data for their own purposes and only permit them to process your personal data for specified purposes and in accordance with our instructions.
We share your personal data within the Menai Financial Group. This will involve transferring your data outside the UK.
We ensure your personal data is protected by requiring all our group companies to follow the same rules when processing your personal data. To that end we have internal data transfer services agreements.
Many of our external third parties are also based outside the UK so their processing of your personal data will involve a transfer of data outside the UK.
Whenever we transfer your personal data out of the UK, we ensure a similar degree of protection is afforded to it by ensuring at least one of the following safeguards is implemented:
- We will only transfer your personal data to countries that have been deemed to provide an adequate level of protection for personal data.
- Where we use certain service providers, we may use specific contracts approved for use in the UK which give personal data the same protection it has in the UK.
Please contact us if you want further information on the specific mechanism used by us when transferring your personal data out of the UK.
We have put in place appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.
We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.
HOW LONG WILL YOU USE MY PERSONAL DATA FOR?
We will only retain your personal data for as long as reasonably necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, regulatory, tax, accounting or reporting requirements. We may retain your personal data for a longer period in the event of a complaint or if we reasonably believe there is a prospect of litigation in respect to our relationship with you.
To determine the appropriate retention period for personal data, we consider the amount, nature and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means, and the applicable legal, regulatory, tax, accounting or other requirements.
Details of retention periods for different aspects of your personal data are available in our data retention policy which you can request from us by contacting us.
9.YOUR LEGAL RIGHTS
Under certain circumstances, you have rights under data protection laws in relation to your personal data. Please see Glossary below to find out more about these rights:
- Request access to your personal data.
- Request correction of your personal data.
- Request erasure of your personal data.
- Object to processing of your personal data.
- Request restriction of processing your personal data.
- Request transfer of your personal data.
- Right to withdraw consent.
If you wish to exercise any of the rights set out above, please contact us through our Data Subject Access Request Form (“DSAR form”).
NO FEE USUALLY REQUIRED
You will not have to pay a fee to access your personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we could refuse to comply with your request in these circumstances.
WHAT WE MAY NEED FROM YOU
We may need to request specific information from you to help us confirm your identity and ensure your right to access your personal data (or to exercise any of your other rights). This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.
TIME LIMIT TO RESPOND
We try to respond to all legitimate requests within one month. Occasionally it could take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.
Legitimate Interest means the interest of our business in conducting and managing our business to enable us to give you the best service/product and the best and most secure experience. We make sure we consider and balance any potential impact on you (both positive and negative) and your rights before we process your personal data for our legitimate interests. We do not use your personal data for activities where our interests are overridden by the impact on you (unless we have your consent or are otherwise required or permitted to by law). You can obtain further information about how we assess our legitimate interests against any potential impact on you in respect of specific activities by contacting us.
Performance of Contract means processing your data where it is necessary for the performance of a contract to which you are a party or to take steps at your request before entering into such a contract.
Compliance with a legal or regulatory obligation means processing your personal data where it is necessary for compliance with a legal or regulatory obligation that we are subject to.
INTERNAL THIRD PARTIES
Other companies in the Menai Financial Group acting as joint controllers or processors and who are based in the US or Switzerland and provide HR services, compliance and regulatory services, Investor Relations and Marketing services, IT and system administration services and undertake leadership reporting.
EXTERNAL THIRD PARTIES
- Service providers acting as processors based in the US and the Cayman Islands who provide fund administration services.
- Professional advisers acting as processors or joint controllers including lawyers, bankers, auditors and insurers based in the US, the EU and Switzerland, and the Cayman Islands who provide consultancy, banking, legal, insurance and accounting services.
- HM Revenue & Customs, regulators and other authorities acting as processors or joint controllers based in the United Kingdom who require reporting of processing activities in certain circumstances.
- Other third parties, based in the US or the EU, providing services such as AML KYC screening.
YOUR LEGAL RIGHTS
You have the right to:
- Request access to your personal data (commonly known as a “data subject access request”). This enables you to receive a copy of the personal data we hold about you and to check that we are lawfully processing it.
- Request correction of the personal data that we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected, though we may need to verify the accuracy of the new data you provide to us.
- Request erasure of your personal data. This enables you to ask us to delete or remove personal data where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your personal data where you have successfully exercised your right to object to processing (see below), where we may have processed your information unlawfully or where we are required to erase your personal data to comply with local law. Note, however, that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request.
- Object to processing of your personal data where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on this ground as you feel it impacts on your fundamental rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes. In some cases, we may demonstrate that we have compelling legitimate grounds to process your information which override your rights and freedoms.
- Request restriction of processing of your personal data. This enables you to ask us to suspend the processing of your personal data in the following scenarios:
- If you want us to establish the data’s accuracy.
- Where our use of the data is unlawful but you do not want us to erase it.
- Where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims.
- You have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it.
- Request the transfer of your personal data to you or to a third party. We will provide to you, or a third party you have chosen, your personal data in a structured, commonly used, machine-readable format. Note that this right only applies to automated information which you initially provided consent for us to use or where we used the information to perform a contract with you.
- Withdraw consent at any time where we are relying on consent to process your personal data. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to provide certain products or services to you. We will advise you if this is the case at the time you withdraw your consent.