For regulatory purposes, securities regulators and self regulatory organizations including the Investment Industry Regulatory Organization of Canada, the Mutual Fund Dealers Association of Canada, and the Bourse de Montreal Inc., (collectively, “SROs”) require access to personal information of our current and former clients, employees, agents, directors, officers, partners and others that has been collected or used by regulated persons. SROs collect, use or disclose such personal information obtained from regulated persons for regulatory purposes, including:
– Surveillance of trading-related activity.
– Sales, financial compliance, trade desk review and other regulatory audits.
– Regulatory databases.
– Enforcement or disciplinary proceedings.
Cumberland transfers personal information to third parties for reasons such as transaction clearing, regulatory reporting, credit checks, data processing, data warehousing or administrative services such as providing monthly statements, transaction slips and asset custody. These third parties provide services for Cumberland and do not make any independent use of the personal information provided by Cumberland. Cumberland uses contractual or other means to ensure that third parties protect personal information to a level comparable to that provided by Cumberland.
Cumberland’s third party service providers may be located outside of Canada. Your personal information may be transferred, stored and/or processed outside of Canada and in that case, your personal information would be subject to the laws of the country to which it is transferred. That country may have laws that require that your personal information be disclosed to the government or others under different circumstances than would Canada.