Privacy Notice

What does the advisor, Versor Investments (formerly “ARP Investments”), do with personal information?

Why?

This privacy notice is directed to individuals/clients whose personal data Versor Investments, or its third party processors, handles in the course of carrying out commercial activities, including an investor in Versor Investments, a member, partner, trustee, shareholder, beneficial owner, officer, director, employee or other representative of any client of Versor Investments and any investor in Versor Investments, including any prospective client or investor. Such personal data may be provided to Versor Investments directly by a client such as an individual. Where a client is an entity, it may provide Versor Investments with personal data on individuals connected to the entity. This privacy notice will be relevant for those individuals, and the client should transmit this document to such individuals or otherwise advise them of its contents.

Versor Investments is responsible for ensuring use of personal data in compliance with applicable data protection law. This privacy notice sets out the basis on which any personal data will be processed by Versor Investments.

Purpose of Processing and Legal Basis for Processing

The client’s personal data may be processed by Versor Investments – or any of its affiliates, agents, delegates or sub-contractors – for the following purposes which are necessary for performance of client contracts:

Managing and administering clients’ holdings in Versor Investments, including assessing and processing subscription applications, communicating with clients about their holdings and account related activities on an on-going basis;
To update and maintain records and provide net asset value and other calculations (as applicable);
To manage and maintain client relationships for ongoing customer service;
To enforce or defend Versor Investments’ rights either directly through Versor Investments or through third-parties to whom it delegates such responsibilities;
To comply with any applicable legal, tax or regulatory obligations of Versor Investments, including those that derive from anti-money laundering and counter-terrorism legislation; and
To communicate with clients and prospective clients in order to provide information about Versor Investments and other products and services.

Client personal data may be processed by Versor Investments – or any of its affiliates, agents, delegates or sub-contractors – for the following purposes in order to enable Versor Investments to comply with its legal or regulatory obligations:

In order to carry out anti-money laundering checks and related actions including sharing client personal data with police, law enforcement, tax or regulatory authorities, or other government agencies where Versor Investmenrs has a legal obligation, including screening transactions, reporting suspicious activity and complying with production and court orders;
To report tax related information to tax authorities, including the automatic exchange of tax information;
To investigate and resolve complaints and manage contentious regulatory matters, investigations and litigation; and
To monitor electronic communications for investigation and fraud prevention purposes, crime detection, prevention and investigation.

In pursuance of our legitimate interests, or those of a third-party to whom client personal data is disclosed, including:

Complying with a legal, tax, accounting or regulatory obligation to which Versor Investments, or the third-party, is subject;
Assessing and processing requests clients make;
Sending updates, information and notices or otherwise corresponding with clients in connection with client holdings or interests in Versor Investments;
Investigating any complaints, or pursuing or defending any claims, proceedings or disputes;
Providing clients with, and informing clients about products and services;
Managing risk and operations;
Complying with audit requirements;
Ensuring internal compliance with policies and procedures;
Protecting Versor Investments against fraud, breach of confidence or theft of proprietary materials;
Seeking professional advice, including legal advice;
Where applicable, facilitating business asset transactions involving Versor Investments or related entities;
Monitoring communications to or from Versor Investments (where permitted by law); and
Protecting the security and integrity of Versor Investments’ information technology systems.

What?

Information that clients provide to Versor Investments: The nature of relationships with clients will determine the kind of personal data Versor Investments might ask for, though such information may include (by way of a non-exhaustive list):

Social security number
Basic personal data
Income
Assets
Risk tolerance
Wire transfer instructions
Transaction history

Information collected or generated about clients: Files may be produced as a record of client relationships and prospective client relationships, including contact history, and any personal data that clients provide during communications with Versor Investments.

Information obtained from other sources: This includes information from publicly available sources, information from the transfer agents or administrators or financial intermediaries, platforms, professional advisers, and information obtained from sanctions checking and background screening.

How?

All financial companies need to share clients’ personal information to run their everyday business. In the section below, reasons financial companies and Versor Investments choose to share clients’ personal information are listed. Versor Investments may share clients’ personal data with affiliates, agent, delegates and sub-contractors. In certain circumstances Versor Investments may be legally obliged to share clients’ personal data and other financial information with respect to clients’ interest in Versor Investments with relevant regulatory authorities such as the Cayman Islands Monetary Authority or the Tax Information Authority. They, in turn, may exchange this information with foreign authorities, including tax authorities and other applicable regulatory authorities.

Versor Investments’ affiliates, agents, delegates and sub-contractors may process clients’ personal data on Versor Investments’ behalf, including with banks, accountants, auditors and lawyers which may be data controllers in their own right. Versor Investments’ services providers, such as the service provider, are generally processors acting on the instructions of the entity. Additionally, a service provider may use client personal data where this is necessary for compliance with a legal obligation to which it is directly subject (for example, to comply with applicable law in the area of anti-money laundering and counter terrorist financing or where mandated by a court order or regulatory sanction). The service provider, in respect of this specific use of personal data, acts as a data controller.

In exceptional circumstances, Versor Investments’ will share clients’ personal data with regulatory, prosecuting and other governmental agencies or departments, and parties to litigation (whether pending or threatened) in any country or territory.

Recipients of Data and International Transfer of Data

Versor Investments may disclose client personal data as follows:

To business partners who will be subject to appropriate data protection obligations;
To their affiliates and third-party service providers engaged in connection with the oversight, safekeeping, administration, distribution or operation of Versor Investments, in order to process the data for the above mentioned purposes;
To competent authorities (including tax authorities), courts and bodies as required by applicable law or requested by such entities or to affiliates for internal investigations and reporting.

The disclosure of personal data to the third-parties set out above may involve the transfer of data to jurisdictions outside clients country of residence for processing. Where Versor Investments transfers clients’ personal data to another country it is required to do so in a manner consistent with legal requirements. This may be done in one of the following ways:

The country to which Versor Investments sends clients personal data might be approved by the European Commission as offering an adequate level of protection for personal data;
The recipient may have signed a contract based on “model contractual clauses” approved by the European Commission, obliging it to protect personal data;
If the recipient is located in the US, it might be a certified member of the EU-US Privacy Shield scheme; or
In other circumstances the law may permit us to otherwise transfer clients’ personal data outside the Cayman Islands.

Personal Data Quality

Versor Investments relies on the accuracy of the information provided by clients and others. Versor Investments takes reasonable efforts to ensure that personal data is accurate, up to date, and complete, in accordance with applicable law. If any information about client changes or client has any concerns regarding the accuracy of information held by Versor Investments, clients should contact Versor Investments at the contact provided.

Contact: Mr. Andrew Flynn at 212-626-6508.

How does Versor Investments protect personal information?

Versor Investments has physical, electronic and procedural safeguards in place to protect clients personal data from loss, misuse, unauthorized access, disclosure, alteration and destruction, however no data security measures can guarantee complete security all of the time.

What is the retention period?

Versor Investments will retain clients’ personal information for as long as is necessary to provide services to the client, to fulfill the purposes described in this privacy notice and/or Versor Investments’ business purposes, or as required by law, regulation or internal policy. Versor Investments is obliged to retain certain information to ensure accuracy, to help maintain quality of service, and for legal, regulatory, fraud prevention, and legitimate business purposes. In general, Versor Investments (or the respective service providers) will hold personal data for a period of seven years from the date on which client redeems all of its share holdings or for as long as required to perform the services or comply with applicable legal/regulatory obligations.

What are the consequences of not providing required data?

Where Versor Investments requires clients personal data to comply with anti-money laundering or other legal requirements, failure to provide this information means Versor Investments may not be able to: (a) accept a client as an investor and/or may be unable to process, or release client investments in Versor Investments; or (b) perform its contractual obligations to a client in accordance with the relevant contract entered into between a client and Versor Investments. This may result in Versor Investments terminating its relationship with client. Versor Investments will tell a client when they ask for their information whether it is a statutory or contractual requirement to provide the information and the consequences of not providing the information.

Data subject rights

Clients have various rights in relation to their personal data held by Versor Investments, including the rights to:

Be informed and to request access to their personal data;
Correct any mistakes on records, erase or restrict records where they are no longer required;
Object to use of personal data where that processing is based on Versor Investments’ legitimate business interests or for direct marketing; and
Request not to be subject to automated decision making if the decision produces legal or other significant effects on the client.

Client rights in relation to their personal data outlined above are subject to a number of legal conditions and exemptions. Versor Investments will respond to client requests in writing, or orally if requested, as soon as practicable and in any event not more than within one month after receipt of request. In exceptional cases, Versor Investments may extend this period by two months and the client will be notified as to why. Versor Investments may request proof of identification to verify client requests.

Definitions

Affiliates – The general partners of the private investment funds advised by Versor Investments are affiliated with Versor Investments by common ownership. Versor Investments does not share with affiliates for marketing purposes.

Nonaffiliates – Versor Investments does not share with non-affiliates so they can market to you

Joint Marketing – Versor Investments does not jointly market

Versor Investments will post changes to this privacy notice on this website along with the effective date of the updated notice. Versor Investments recommends that clients review this privacy notice periodically.

Other Important Information

“Versor Investments” was formerly known as “ARP Investments.”