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Data Protection. Prospective investors should note that, by virtue of making an investment in the Fund and the associated interactions with the Fund and its affiliates and delegates (including completing the Subscription Agreement, and including the recording of electronic communications or phone calls where applicable), or by virtue of providing the Investment Manager and/or the Fund with personal information on individuals connected with the investor (for example directors, trustees, employees, representatives, shareholders, investors, clients, limited partners, beneficial owners or agents) such individuals will be providing the Fund, the Investment Manager and its affiliates and delegates with certain personal information which constitutes personal data within the meaning of the EU data protection regime introduced by the General Data Protection Regulation (Regulation 2016/679) from May 25 2018 onwards (the “Data Protection Legislation”).
The Investment Manager has prepared a Data Protection Disclosure Statement (“DPDS”) on behalf of the Fund outlining the Fund's data protection obligations and the data protection rights of the relevant Shareholders under the Data Protection Legislation.
The relevant Shareholders shall receive a copy of the DPDS as part of their process to subscribe for Shares in the Fund.
The DPDS contains information on the following matters in relation to data protection:
Given the specific purposes for which the Fund envisages using your personal data, under the provisions of the Data Protection Legislation, it is not anticipated that individual consent will be required for such use. However, as outlined in the DPDS, individuals have the right to object to the processing of their data where the Fund has considered this to be necessary for the purposes of its or a third party's legitimate interests.
GDPR Annex
DATA PROTECTION DISCLOSURE STATEMENT
This GDPR Annex outlines our data protection obligations and your data protection rights as they relate to your investment in the Fund under the EU data protection regime introduced by the General Data Protection Regulation (Regulation 2016/679), the (“GDPR”).
In this Annex, "we", "us" and "our" refer to the Fund and the Investment Manager and its affiliates and delegates.
Your personal data
You understand that by virtue of making an investment in the Fund and your associated interactions with us (including this application, and including the recording of electronic communications or phone calls where applicable) or by virtue of you otherwise providing us with personal information on individuals connected with you as an investor (for example directors, trustees, employees, representatives, shareholders, limited partners, investors, clients, beneficial owners or agents), you will provide us with certain personal information which constitutes personal data within the meaning of the GDPR. This includes, but is not restricted to, data such as your name, residential address, email address, place of birth, date of birth, tax identification numbers, bank account details, copies of passports and/or utility bills and details relating to your investment activity.
In our use of this personal data, we will be characterised as a "data controller" under the GDPR. Our affiliates and delegates may act as "data processors" under the GDPR.
Why we may use your personal data
You understand that we may collect, store and use this data for lawful purposes including, in particular: (i) where this is necessary for the performance of the Subscription Agreement to purchase interests in the Fund; (ii) where this is necessary for compliance with a legal obligation to which we are subject (such as the anti-money laundering obligation to verify the identity of our customers and, if applicable their beneficial owners) and retain copies of materials in respect thereof for five years after the relationship terminates); and/or (iii) where this is necessary for the purposes of the legitimate interests of us or a third party and such legitimate interests are not overridden by your interests, fundamental rights or freedoms.
It is noted that the GDPR states that the use of personal data for direct marketing purposes (that is, providing you with information on products and services that may be of interest) may be regarded as being for the purposes of a legitimate interest. Analysing personal data for quality control, business and statistical analysis, tracking fees and costs, training and related purposes are also legitimate interests for us using your personal data.
Accordingly, you understand and agree that we may use your personal data for such purposes as described in this GDPR Annex, provided that we are acting in a fair, transparent and accountable manner and have taken appropriate steps to prevent such activity having any unwarranted impact on you and also noting your right to object to such use, as discussed in this GDPR Annex.
Given the specific purposes for which we envisage using your personal data, under the provisions of the GDPR, we do not anticipate being required to obtain your consent to do so. Should we wish to use your personal data for other specific purposes that require your consent, we will contact you to request your consent for such usage.
Why we may transmit your personal data
You understand that in certain circumstances we and/or our authorised affiliates and/or delegates may be legally obliged to share your data and other financial information with respect to your interest in the Fund with the SEC and they, in turn, may exchange this information with foreign tax authorities including tax authorities, such as the IRS that are located outside the EEA.
We anticipate disclosing your personal data to the following third parties who provide services to the Fund, namely, Morgan Stanley Fund Services USA LLC, Morgan Stanley Fund Services (Bermuda), Ltd. and KPMG LLP as well as ancillary service providers appointed by the Investment Manager such as CRM providers, IT providers, emailing archiving providers, and website service providers and their respective affiliates. This may include certain entities located outside the EEA.
The data protection measures we take
Any transmission of your personal data by us or our duly authorised affiliates and/or delegates outside the EEA shall be in accordance with the conditions in the GDPR.
We and our duly authorised affiliates and/or delegates shall apply appropriate information security measures designed to protect data in our/our affiliates and/or delegates' possession from unauthorised access by third parties or any form of computer corruption.
We shall notify you of any personal data breach affecting you that is likely to result in a high risk to your interests, fundamental rights or freedoms.
Your data protection rights
You understand that you have certain rights regarding our use of this personal data such as (but not limited to):
You also have the right to object to the processing of your personal data where we have considered this to be necessary for the purposes of our legitimate interests.
Please note that the right for your personal data to be erased (the "right to be forgotten") that applies in some contexts under the GDPR is not likely to be applicable to most, if not all, of the personal data you provide to us, given the specific nature of the purposes for which we use the personal data, as described in this GDPR Policy.
Our retention of your personal data
We or our duly authorised delegates may retain your personal data for a period of up to five years following your disinvestment from the Fund.
Getting in touch
As we do not process personal data on a large scale, we are not required to designate a data protection officer. However, should you have any queries or wish to discuss your data protection rights with us, please contact info@highlinecap.com.