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BCK Capital Management LP Privacy Policy

Last updated September 2020

 

Your privacy is very important to us and maintaining your trust and confidence is one of our priorities. This policy explains the manner in which BCK Capital Management, LP (“BCK”) collects, utilizes and maintains nonpublic personal information about its investors. All financial companies need to share personal information in order to conduct everyday business.? Federal law gives consumers the right to limit some, but not all, sharing and also requires BCK Capital to provide this notice to you to inform you how we collect, share, and protect your personal information.

BCK’s policy is to require that all employees, financial professionals and companies providing services on its behalf keep investor information confidential.

BCK may make changes to its privacy policy in the future. BCK will not make any changes affecting an investor or client without sending such investor or client a revised privacy policy describing the change.

I. Confidentiality

A. Privacy Policy

BCK Capital does not disclose nonpublic personal information about Investors (or former Investors) to third parties other than as described below.

BCK Capital collects nonpublic personal information about its Investors (such as name, address, social security number, assets and income) from its discussions with Advisory Clients and Investors, from documents the Advisory Clients or Investors may deliver to BCK Capital and in the course of providing advisory services to its Advisory Clients. BCK Capital may use this information to provide advisory services to its Advisory Clients, to open accounts for its Advisory Clients, to process transactions for its accounts or otherwise in furtherance of BCK Capital’s business. In order to service Advisory Clients’ accounts and effect transactions, BCK Capital may provide Investors’ nonpublic personal information to its affiliates and to firms that assist BCK Capital in servicing Advisory Client accounts and have a need for such information, such as a fund administrator. BCK Capital may also provide such information to service providers which could include financial institutions with which BCK Capital has joint marketing arrangements, if any. BCK Capital uses reasonable best efforts to require that any person or institution to which it discloses investor information will protect the confidentiality of that investor information and use the information only for the purposes for which BCK Capital discloses the information to them. BCK Capital does not otherwise provide information about its Investors to outside firms, organizations or individuals except to its attorneys, accountants and auditors and as permitted by law.

BCK Capital restricts access to nonpublic personal information about its Investors to employees who need to know that information to provide products or services to BCK Capital’s Advisory Clients. BCK Capital maintains physical, electronic and procedural safeguards that comply with federal standards to guard clients’ nonpublic personal information.

(1) Procedures for Compliance with Privacy Policy

In order to generally ensure that Non-Public Personal Information about Advisory Clients and Investors is safeguarded, BCK Capital has also adopted the following internal procedures:

(a) access to Advisory Clients’ and Investors’ Non-Public Personal Information is restricted to employees and service providers that need to access such information to engage in business activity on behalf of BCK Capital.

(b) after business hours, hard-copies of Advisory Clients’ and Investors’ Non-Public Personal Information are kept in locked file cabinets or in a locked file room or other secure location.

(c) access to electronic-based Advisory Clients’ and Investors’ Non-Public Personal Information is restricted.

(2) Disposal of Non-Public Personal Information

In order to protect Advisory Clients and Investors against the risks of fraud and fraud-related crimes, including identity theft, BCK Capital has also adopted the following internal procedures relating to the secured disposal of Non-Public Personal Information:

(a) to the extent not covered under Advisers Act Rule 204-2, hard copies of Investors’ Non-Public Personal Information (or any extra hard-copies of Investors’ 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;

(b) to the extent not covered under Advisers Act Rule 204-2, Investors’ Non-Public Personal Information which is stored on disk, CD, tape or other electronic media (or any extra disks, CDs, tapes or other electronic media which contains Investors’ Non-Public Personal Information, whether or not covered by Advisers Act Rule 204-2) shall be cleared, purged, declassified, overwritten and/or encrypted in such a manner so that any information contained therein cannot be restored or decrypted;

(c) Pursuant to Section (2)(b) above, after the electronic media is cleared, purged, declassified, overwritten or encrypted, BCK Capital’s systems administrator shall check that the original information is not backed-up or saved on a hard drive, recycle bin or other memories;

(d) The Chief Compliance Officer shall make best efforts to verify that each third-party service provider engaged by BCK Capital, which necessarily obtains access to Investors’ Non-Public Personal Information during the course of their services on behalf of BCK Capital shall have similar policies and procedures relating to the secure disposal of Non-Public Personal Information.

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 or outside counsel or dispose of such data as if it were, in fact, Non-Public Personal Information.

(3) Privacy Notice Requirements

(a) Initial Privacy Notice Requirements. BCK Capital will provide clear and conspicuous notice of its privacy policies to each investor (or prospective investor) who provides non-public personal information in connection with seeking to become an investor in any Fund. This initial notice will be delivered to investors with the subscription agreement, or by another method determined by the Chief Compliance Officer.

(b) Fixing America’s Surface Transportation Act. The Fixing America’s Surface Transportation Act (the “FAST Act”) enacted in December 2015 updated an investment adviser’s Privacy Policy notice requirements and clarifies investment advisers’ obligations with regards to the Privacy Rules. Under the FAST Act, investment advisers are not required to send annual Privacy Notices to “consumers” if the adviser (i) only shares nonpublic personal information with nonaffiliated third-parties in a manner that does not require an opt-out right be provided to customers; and (ii) has not changed its policies and procedures with regards to disclosing nonpublic personal information since it last provided a Privacy Notice to customers.

(c) Annual Privacy Notices to Investors. BCK Capital will also provide an annual clear and conspicuous notice to investors that accurately reflects its current privacy policies as best practice.

(d) New Notices Required for Revised Practices. BCK Capital will not, directly or through an affiliate, disclose non-public personal information about an investor to a non-affiliated third party other than as described in the initial notice, unless BCK Capital provides the affected investors with a new notice describing the revised policy and providing such investors a reasonable opportunity to opt out prior to disclosure of the information.

(4) Confidentiality Agreements

BCK Capital may enter into confidentiality agreements under which it agrees to keep confidential certain third-party information in order to facilitate potential investments or transactions. Before entering into a confidentiality agreement with any party, a draft of the agreement should be sent to the Chief Compliance Officer for review and approval. An executed copy of the approved confidentiality agreement should be sent to the Chief Compliance Officer who maintains copies of all agreements under which BCK Capital has continuing confidentiality obligations.

(5) California Consumer Privacy Act

The California Consumer Privacy Act (“CCPA”) was enacted in 2018 and became effective January 1, 2020. Businesses are subject to the requirements of CCPA if one or more of the following criteria are true regarding their business practices: (i) has gross annual revenues in excess of $25 million; (ii) buys, receives, or sells the personal information of 50,000 or more consumers, households, or devices; and (iii) derives 50 percent or more of annual revenues from selling consumers’ personal information.? Businesses that fit one of the aforementioned criteria are subject to new obligations to protect consumers domiciled in the state of California.? These requirements include but are not limited to: (i) provide notice to consumers before collection; (ii) create procedures to respond to consumers request to opt-out, know, and delete; (iii) respond to consumer inquiries regarding the aforementioned request within specified timeframes; and (iv) verify the identity of consumers who make the aforementioned requests.?

CCPA grants California consumers the right to: (i) to know what personal information is collected, used, shared or sold; (ii) to delete personal information held by business and a business’s service providers; (iii) to opt-out of sale of personal information; and (iv) to non-discrimination.? At this time, BCK does not meet the criteria required to comply with CCPA, however will monitor the circumstances, and ensures the privacy and confidentiality of investor and client information.

(6) No Personal Use

All sensitive or confidential information that BCK Capital or any of its employees receives, whatever the source, should only be used in connection with such person’s professional duties at BCK Capital. Confidential information should not be used for any personal purpose or business, including for personal purchases or sales of securities or other investments.

(7) Care in Handling Confidential Information

BCK Capital encourages careful handling and treatment of sensitive or confidential information, both in and outside of its offices. Sensitive or confidential information should not be shared with persons outside of BCK Capital and its affiliated entities and care should be taken in reading materials or having conversations in public places. This restriction applies to conversations with family and friends, including a spouse and children. Any breaches of confidentiality will be viewed seriously and may result in internal disciplinary proceedings being taken against the employee identified as causing the breach.