At Level 3 Investment Management Inc. (“Level 3”) we are committed to protecting your privacy and the confidentiality of personal information that is shared with us by our clients. This policy sets out the information practices for Level 3, what kinds of information are collected, how the information is used and with whom this information might be shared.


  1. Accountability: Level 3 is responsible for all personal information provided by clients under its control. Employees involved in collecting, disseminating and maintaining personal information are trained in all aspects of this Privacy Policy. If you have any questions or concerns you may address them to the firm’s Chief Compliance Officer, Mr. Paul Campbell.


  1. Identifying the purposes and uses of personal information: When you apply to open an account with Level 3 we may collect the following personal information about you, including:


. (i) Your legal name, address, occupation, telephone numbers and e-mail addresses;

(ii) Your date of birth;

(iii) Your Social Insurance Number;

(iv) Identification in the form of a passport or valid driver’s license or a recent utility bill to verify your address;

(v) Details of your financial circumstances, including your income, your assets and liabilities, any legal undertakings and guarantees, your dependants, citizenship and tax status;

(vi) Details of your investment experience, your goals and financial planning objectives; and

(vii) Your business interests that would require insider trading practices.

This information is collected and used for seven purposes:

(i) To meet the account opening requirements of a custodian or chartered bank;

(ii) To verify the basis of developing with you an investment policy statement under which your funds will be managed by Level 3;

(iii) To document which other persons or professional advisors may have access to your account information and/or provide investment instructions to us on your behalf;

(iv) To allow Level 3 to satisfy itself about the information it reports regularly with respect to federal legislation on money laundering, fraud and other criminal activity;

(v) To allow Level 3 to prepare and distribute information to Canadian federal tax authorities;

(vi) To report to certain government securities regulators, as required, about the investment practices and operating procedures of Level 3 and to allow such regulatory agencies to conduct periodic compliance audits of Level 3; and

(vii) To manage and assess the risks posed to Level 3.

A variety of personal information pertaining the operations of an investment account (security purchases and sales, deposits, withdrawals and security transfers) will develop over time.

For legal entities such as businesses, trusts, partnerships or estates we will collect information about the legal structure of the entity and information about those individuals authorized to act on the entity’s behalf. Where necessary we will establish beneficial owners of any of these entities.

Level 3 does not sell, rent or lease its customer lists to any third party. However, Level 3 engages third party service providers, most notably a custodian or chartered bank, registered investment dealers, legal and accounting professionals and computer systems support. When your information is provided to these service providers Level 3 will require them to protect your information in a manner that is consistent with this Privacy Policy and practices. Personal information given to Level 3 or any of its service providers may be accessible to regulatory authorities in accordance with the laws in those jurisdictions.

If we sell Level 3 or enter into an acquisition or merger agreement with another company, we may release the information it has about you to prospective purchasers. We will require any prospective purchaser to protect the information provided consistent with Level 3’s privacy policies and practices.

  1. Consent: The client will consent in writing to the provision of such personal information to Level 3. This policy shall be attached to the investment policy statement executed for the client. By retaining the services of Level 3, the client will have consented to the disclosure of his or her personal information to various third parties as outlined in this policy and for the purposes set out in it

A client may withdraw or withhold his or her consent at any time, subject to any legal or contractual restrictions. Such action shall be made in writing by the client, at which time the consequences of such withdrawal or withholding of personal information will be explained by Level 3.

Level 3 will typically collect personal information from clients in the process by which accounts are opened or investment policy statements are reviewed. However, it will also collect information from clients through personal meetings, telephone discussions, e-mail and facsimile transmissions and also from third party service providers involved in supporting Level 3’s services. Records of these interactions may be kept by Level 3. 

Level 3 may use your e-mail address to communicate with you about privacy issues you raise and may send you information about products and services it offers or may offer in the future based upon an analysis of the personal information you provided. E-mails sent over the internet are generally not encrypted.

  1. Limitation of use and retention of information: Level 3 will collect only that personal information which is required by it to meet its regulatory, statutory and business management needs to manage a client’s financial assets according to the agreed investment policy, as outlined in this policy. Level 3 will retain personal information only for the purposes of this policy and for meeting government and regulatory requirements, after which it will be destroyed or rendered anonymous.

A prospective client, who does not enter into a portfolio management services agreement with Level 3 shall have returned to him or her all personal information provided to Level 3.

Every effort will be made by Level 3 to maintain correct data and from time to time clients may be asked to verify that information.

  1. Safeguards: Your personal information is maintained on our secure computer networks and office files. Your information may also be stored on a secure off-site storage facility. A variety of security measures will be in place to reduce the possibility of theft of personal information or accidental disclosure.

You may access your personal information to verify its accuracy, to withdraw your consent to any of the foregoing collections, uses and/or disclosures being made of your personal information and may update your information by contacting the portfolio manager(s) employed Level 3 that is(/are) responsible for your account(s).

Clients shall be able to express any concerns, at no additional cost to the client. All client concerns shall be documented and maintained in a written (and electronic) file. Level 3 will use commercially reasonable efforts to promptly determine and rectify the problem. 

There are circumstances in which Level 3 may use personal information without the client’s knowledge or consent. These circumstances include: (1) when Level 3 has reasonable grounds to believe the information might be useful when investigating a contravention of a federal, provincial or foreign law; (2) during an emergency which threatens an individual’s life, health or security; (3) when mandated to provide such information by any federal, provincial or foreign law or regulation.

Level 3 has a right to refuse access to personal information by a client if: (1) the information is protected by legal privilege; (2) the information was collected for purposes related to the detection and prevention of fraud; (3) the information was generated in the course of a formal dispute resolution process; (4) granting access might reveal confidential commercial information; (5) it is reasonably expected that such personal information might lead to the threatening of the life or security of another individual.

  1. Updating the Privacy Policy: Level 3 will occasionally update this policy to reflect client feedback, regulatory changes and Level 3 experience.