Privacy Notice
February 2021
Tangency Capital Ltd.
Tangency Capital Services Ltd.
Tangency Capital Ltd. is incorporated in Bermuda and its registered office is Wessex House, 3rd Floor, 45 Reid Street, Hamilton, HM12, Bermuda.
Tangency Capital Services Ltd. is incorporated in England and Wales and its registered office is Norfolk House, 31 St James’s Square London, SW1Y 4JJ United Kingdom.
References to “Management Entity”, “we”, “us” and “our” are references to Tangency Capital Ltd. and/or Tangency Capital Services Ltd.
About this privacy notice
We are a data controller in respect of your personal data for the purposes of data protection law, such as, in the European Union (“EU”), the General Data Protection Regulation and, in the United Kingdom (“UK”), the Data Protection Act 2018 (“DPA”) and the UK GDPR (as defined in the DPA). We are responsible for ensuring that we use your personal data in compliance with data protection law.
This privacy notice applies to you if you are a client or prospective client of the Management Entity (including an investor or prospective investor in a vehicle or entity that we manage or advise (“Funds”)), a service provider to us or to a Fund.
This privacy notice sets out the basis on which personal data about you that you provide to us, that we create about you or that we obtain about you from other sources, will be processed by us. Please take the time to read and understand this privacy notice.
Personal data that we might use
We might process the following personal data about you:
(a) Information provided to the Management Entity or to a Fund or its administrator by you or (if different) the applicant for interests in a Fund: This might include your name and address (including proofs of name and address), contact details, date of birth, gender, nationality, photograph, signature, copies of identity documents, occupational history, job title, income, assets, other financial information, bank details, investment history, tax residency and tax identification information. Such information might be provided in an application form or in other documents (as part of an application process or at other times), face-to-face, by telephone, by email or otherwise.
(b) Information that the Management Entity collects or generates: This might include information relating to your (or an applicant’s) investment in a Fund, emails (and related data), call recordings and website usage data.
(c) Information that the Management Entity obtains from other sources: This might include information obtained for the purpose of our know-your-client procedures (which include anti-money laundering procedures, counter-terrorist financing procedures, politically-exposed-person checks, sanctions checks, among other things), information from government or public bodies, public websites and other public sources and information received from the applicant’s advisers or from intermediaries.
Uses of your personal data
We collect your personal information to fulfil our contractual obligations, our statutory and regulatory obligations and/or the legitimate business interests of the Management Entity or a Fund and for other purposes for which the Management Entity has a lawful basis under the privacy laws, including:
- Compliance with legal and regulatory obligations and industry standards, including know-your-client procedures, the automatic exchange of tax information and legal judgments.
- General business administration, including communicating with investors, communicating with service providers and counterparties, accountancy and audit services, risk monitoring, the administration of IT systems and monitoring and improving products.
- Assessing and processing applications for interests in a Fund and other dealings with the Management Entity, including performing know-your-client procedures, issuing and redeeming interests, receiving payments from and making payments to the applicant, calculating net asset value, and overseeing these processes.
- Business activities, such as investor relations, discussions with our or a Fund’s service providers and counterparties, decision-making in relation to the Funds, and business strategy, development and marketing.
We are entitled to process your personal data in these ways for the following reasons:
(a) You may enter into an investment contract with the Management Entity or a Fund and some processing will be necessary for the performance of that contract, or will be done at your request prior to entering into that contract.
(b) Processing may be necessary to discharge a relevant legal or regulatory obligation.
(c) The processing is necessary for the legitimate business interests of the Management Entity or a Fund or its administrator or another person, such as:
(i) carrying out the ordinary or reasonable business activities of the Management Entity, a Fund or its administrator or other persons, or other activities previously disclosed to you or referred to in this privacy notice;
(ii) ensuring compliance with all legal and regulatory obligations and industry standards, and preventing fraud;
(iii) establishing, exercising or defending legal rights or for other purposes relating to legal proceedings; and
(iv) ensuring the security of information systems.
(d) In respect of any processing of sensitive personal data falling within special categories, such as any personal data relating to the political opinions of a politically exposed person, the processing will be necessary for reasons of substantial public interest.
Disclosure of your personal data to third parties
We may from time to time, in accordance with the purposes described above, disclose your personal data to other parties, including (a) our affiliates, (b) a Fund’s administrator and its affiliates, (c) professional advisers such as law firms and accountancy firms, (d) other service providers of the Management Entity or a Fund or its administrator, including technology service providers, (e) counterparties and (f) courts and regulatory, tax and governmental authorities. Some of these persons will process your personal data in accordance with our instructions and others will themselves be responsible for their use of your personal data. These persons may be permitted to further disclose the personal data to other parties.
Transfers of your personal data outside the UK or the European Economic Area
Your personal data may be transferred to and stored by persons outside the UK or the European Economic Area (the “EEA”) such as a Fund and in particular may be transferred to and stored by affiliates or service providers of the Funds or their administrators outside the UK or the EEA.
Where personal data is transferred outside the UK or the EEA, we will ensure that the transfer is subject to appropriate safeguards or is otherwise permitted under applicable law. For example, the country to which the personal data is transferred may be approved by the European Commission or the UK Government (as applicable) or the recipient may have agreed to model contractual clauses approved by the European Commission, the UK Government or the Information Commissioner’s Office (“ICO”) (as applicable) that oblige them to protect the personal data.
You can obtain more details of the protection given to your personal data when it is transferred outside the UK or the EEA, including a copy of any standard data protection clauses entered into with recipients of your personal data, by contacting us using the details set out under “Contacting us” below.
Necessity of personal data for us to provide services to you or an investment in a Fund
The provision of certain personal data is necessary for us to provide services to you or for interests in a Fund to be issued to any applicant and for compliance by the Management Entity and the Funds and our and their respective service providers with certain legal and regulatory obligations. Accordingly, if certain personal data is not provided when requested, we may not be able to provide services to you and/or an application for interests might not be accepted or interests might be compulsorily redeemed.
Retention of personal data
How long we hold your personal data for will vary. The retention period will be determined by various criteria, including the purposes for which we are using it (as it will need to be kept for as long as is necessary for any of those purposes) and legal obligations (as laws or regulations may set a minimum period for which we have to keep your personal data).
Your rights
You have a number of legal rights in relation to the personal data that we hold about you. These rights include the following:
(a) The right to obtain information regarding the processing of your personal data and to access to the personal data that we hold about you.
(b) In some circumstances, the right to receive some personal data in a structured, commonly used and machine-readable format and the right to request that we transmit that data to a third party where this is technically feasible. Please note that this right only applies to personal data which you have provided to us.
(c) The right to request that we rectify your personal data if it is inaccurate or incomplete.
(d) The right to request that we erase your personal data in certain circumstances. Please note that there may be circumstances where you ask us to erase your personal data but we are legally entitled to retain it.
(e) The right to object to, and the right to request that we restrict, our processing of your personal data in certain circumstances. Again, there may be circumstances where you object to, or ask us to restrict, its processing of your personal data but we are legally entitled to continue processing your personal data or to refuse that request.
(f) The right to lodge a complaint with the data protection regulator (details of which are provided below) if you think that any of your rights have been infringed by us.
You can exercise your rights by contacting us using the details set out under “Contacting us” below. Depending on where you are based, you can find out more information about your rights by contacting the ICO or an EU data regulator or by searching the relevant regulator’s website (for example, at ico.org.uk for the ICO).
Contacting us
If you would like further information on the collection, use, disclosure, transfer or processing of your personal data or the exercise of any of the rights listed above, please address questions and requests to Dominik Hagedorn, Tangency Capital Services Ltd., dh@tangencycapital.com.