CHAPTER 8: PRIVACY POLICY
This privacy policy explains the manner in which the Firm collects, utilizes and maintains nonpublic personal information about the Funds’ investors, as required under federal regulation. Although federal regulation provides that the usage of nonpublic information of investors (“Investor Information”) is limited to investors who are individuals, the Firm will apply this privacy policy to all of its investors. Investor Information shall mean personally identifiable financial information including any list, description or other grouping of the Firm’s investors that is derived using nonpublic personal information other than publicly available information. Specifically, for the purpose of this policy, Investor Information includes, but is not limited to, an investor’s name, social security number or taxpayer identification number, contact information (including home address, business address, telephone number and date of birth), financial and investment qualifications or account number at the Firm.
A. Privacy Regulation
The SEC’s Regulation S-P (Privacy of Consumer Financial Information, herein after the “Privacy Rules”), which was adopted to comply with Section504 of the Gramm-Leach-Bliley Act, requires investment advisers to disclose to their investors the Firm’s policies and procedures regarding the use and safekeeping of investor records (“Privacy Notice”). Among other requirements, the Privacy Rules require financial institutions to send initial Privacy Notices to “consumers”, send Privacy Notices to “customers” upon material change, and provide both customers and consumers the opportunity to opt out of the disclosure of any non-public personal information about a consumer to a nonaffiliated third party. For purposes of this Policy, “consumers” are potential and current investors in the Funds and “customers” are the Funds’ current investors.
B. Collection of Investor Information
The Firm collects personal and/or confidential information about investors mainly through the following sources:·Subscription documents, investor questionnaires and other information provided by the investor in writing, in person, by telephone, electronically or by any other means. This information includes name, address, nationality, tax identification number and financial and investment qualifications.·Transactions within the Firm, including account balances, investments and redemptions.
C. Disclosure of Nonpublic Personal Information
DTA does not sell or rent Investor Information. DTA does not disclose Investor Information to nonaffiliated third parties or to affiliated entities, except as permitted by law. For example, the Firm may share Investor Information in the following situations:·To service providers in connection with the administration and servicing of the Firm, including attorneys, accountants, auditors, and other professionals. The Firm may also share information in connection with the servicing or processing of Firm transactions.·To respond to a subpoena or court order, judicial process or regulatory authorities.·To protect against fraud, unauthorized transactions (such as money laundering), claims or other liabilities.·Upon consent of an investor to release such information, including authorization to disclose such information to persons acting in a fiduciary or representative capacity on behalf of the investor.
D. Protection of Investor Information
The Firm’s policy is to require that all Employees, financial professionals and companies providing services on their behalf keep Investor Information confidential. The Firm maintains safeguards that comply with federal standards to protect such information. The Firm restricts access to the Investor Information to those Employees who need to know that information in the course of their job responsibilities. Third parties with whom the Firm shares Investor Information must agree to follow appropriate standards of security and confidentiality. The Firm’s privacy policy applies to both current and former investors. The Firm may disclose Investor Information about a former investor to the same extent as for a current investor.
E. Location and Maintenance of Investor Information
All Investor Information is retained in accordance with the Firm’s “Record Retention Policy, ”as set forth in this Manual. The CCO ensures the security of the Firm’s Investor Information by keeping all Investor Information only in a secure location with limited access designated by the CCO. In the case of all such Investor Information, limited access will be granted to only those Employees who require such information in the course of their specific job responsibilities. If an Employee requires access to Investor Information, they must receive approval from the Firm’s CCO, who will determine if such access will be approved, and if so, the level of access allowed thereto.
F. Initial Privacy Notices
The Firm shall provide new investors with a Privacy Notice (Appendix B) describing this privacy policy and shall obtain and retain written evidence that such notice was provided prior to making the investment.
G. Distribution of Privacy Notices.
Upon Material Change the Firm or a designee (e.g. a fund administrator)shall distribute to all of the Firm’s investors a Privacy Notice describing this privacy policy upon any material changes (Appendix B). The CCO shall retain a copy of the Privacy Notice sent and shall make and retain a record of its distribution.
H. State Privacy Laws
Certain states have adopted privacy regulations that may be applicable to advisers with investors who are residents of those states. To ensure compliance with state privacy requirements, the CCO will periodically review such laws and evaluate whether the Firm’s procedures and controls are sufficient in light of the review. To the extent necessary, the Firm will revise its procedures and institute additional controls in order to comply with applicable state privacy laws