Privacy Policy

Lucida Capital Inc. (“Lucida”) has established this privacy policy to comply with applicable federal and/or provincial legislation regarding the collection, use, disclosure and protection of Personal Information (as defined below) of individual investors in prospectus exempt securities (“Clients”). Lucida is committed to protecting Personal Information and Lucida employees are responsible for and obligated to always protect such information.

Personal Information

“Personal Information” is defined as information that identifies an individual and includes, but is not limited to, their name, email, address, age, marital status, race/nationality, financial records, religion, or social insurance number.

Clients are requested to notify Lucida as soon as possible of any changes, deletions or corrections to their Personal Information so that Lucida may keep such information up-to-date.

Purposes of Collection, Use and Disclosure of Personal Information and Client Consent

Lucida collects and maintains Personal Information about Clients in connection with the offering and sale of interests in Lucida private investment funds, the opening and operating of accounts, Client communications, or otherwise as required by law. Lucida collects and maintains Personal Information in order to:

Establish, service and administer Client accounts (such as providing tax receipts, transaction confirmations, statements; investment fund financial statements, and other information that may be requested or needed to service these accounts);
Establish the identity of a Client or an authorized individual;
Assess a Client’s eligibility in a Lucida fund;
Execute transactions;
File with applicable Canadian regulatory authorities a report setting out a Client’s name, address, telephone number, email address and other information relating to a Client, the class and series of interests issued, the date of issuance, the purchase price of interests issued to a Client and other details of the distribution;
Protect Lucida and its Clients from error and fraud;
Comply with anti-money laundering/anti-terrorist financing and other regulatory requirements; and
Establish Lucida’s legal rights or defend against legal claims.

Personal Information collected from a client includes name, address, date of birth, and social insurance number; Lucida typically collects this information from the following sources:

Subscription agreements submitted by an investor or prospective investor;
Transactions with Lucida or any of its affiliates;
Communications between Lucida and a Client; and
Other information provided.

Personal Information shall not be used or disclosed for purposes other than those for which it was collected. Lucida may disclose Personal Information to third parties and to Lucida affiliates, when necessary and without the consent of a Client, including:

financial service providers, such as banks and others used to finance or facilitate transactions by, or the operations of, a Lucida Fund and/or account;
other service providers to a Fund and/or account such as fund administrators, accounting, legal, or tax preparation services; and
regulatory, tax or other government authorities and agencies. Lucida will only disclose Personal Information to a governmental entity or other regulatory or self-regulatory organization when required to do so by such laws and regulations, or by court order.

The collection of Client information will be limited to that which is necessary for Lucida to provide services to a Client and for third-party service providers to be able to provide services to Lucida, its Funds and/or accounts. Before Lucida may use Personal Information for a purpose not previously identified to a Client, the new purpose shall be identified and consent will be obtained from the Client before the information is used for the new purpose (or the client may opt-out), unless the use is otherwise required by law.

Website

Lucida may collect certain types of information electronically through an individual’s contact with its website using technologies (either its own, or third-party technologies) such as cookies and web beacons. The Firm may collect Client Internet protocol (IP) addresses, browser type, Internet service provider (ISP), referring/exit pages and the pages viewed on the website.

The COO shall ensure this information is appropriately recorded and maintained by the Firm’s IT department or web hosting provider.

Cookies

For Lucida to better understand website user needs and improve the website by offering a better and more personalized service, remembering preferences, and generally improving a user’s experience, Lucida collects information such as the number of hits on the website, the pages most frequently accessed and information about access to the Firm’s secure website. This information is collected by Google Analytics or similar services from which overall statistics are compiled in order to improve the website and the services provided.

Cookies are small text files that are placed on a computer by websites that are visited. Cookies can be categorized in accordance as set out below:

Strictly necessary cookies – these cookies are essential in order to enable a user to move around a website and use its features and enable services which have specifically been asked for. Consent is not generally required for these cookies.
Performance cookies – these collect information about how visitors use a website, for example, by recording which pages users go to most often (usually on an anonymous basis).
Functionality cookies – these cookies allow a website to remember the choices a user makes, such as a user name or language preference.
Targeting or advertising cookies – these collect information about a user’s browsing habits and are generally placed by advertising networks with the website operator’s permission.

Most browsers are initially set to accept cookies. Unless a user has adjusted their browser setting so that it will refuse cookies, the Firm’s system will issue cookies as soon as the website is visited. A user may refuse to accept cookies by activating the setting on their browser which allows the to refuse the setting of cookies. If they wish to withdraw their consent at any time, they must delete the cookies using their internet browser settings. The “options” or “preferences” options in an internet settings function within a browser should tell reflect how.

Users are encouraged to consult the following for information or useful advice on managing cookie settings. For information on how to do this on the browser of a mobile phone please refer to the device manual.

Cookies used by Google Analytics uses are “_gid” and “_ga”:

_gid – distinguishes users for 24 hours
_ga – distinguishes users on a domain and lasts 2 years

Security Safeguards

Lucida maintains physical, technological, and organizational controls consistent with regulatory standards to safeguard Personal Information in its possession. Reasonable security safeguards have been implemented to help protect Personal Information from loss, misuse, unauthorized access or disclosure. These measures include, but are not limited to:

Restricted physical and system access controls;
Safeguards to detect and prevent security system failures;
Use of secure user authentication protocols for access to records with Personal Information;
Use of reasonably up-to-date firewall protection and operating system security patches;
Use of reasonably up-to-date versions of system security agent software including malware protection and virus definitions;
Reviewing safeguarding controls of service providers who receive Personal Information as part of the provision of Lucida services; and
Employee training on Lucida’s privacy obligations.

Lucida remains responsible for Personal Information it has disclosed to third parties and endeavors to protect this information through contractual agreements. Lucida does not sell or lease Personal Information to third parties nor does it share Personal Information with third parties for their marketing purposes.

Notwithstanding the aforementioned controls, there remains a residual risk of a breach of security safeguards which could result in a real risk of significant harm. See section “Breaches and Risk of Harm” below for Lucida’s reporting and notification procedures to deal with a privacy breach which results in a real risk of significant harm to an individual.

In the event of a sale, transfer, or reorganization of Lucida, Lucida may disclose Personal Information to the acquiring organization, but will require the acquiring organization to agree to protect the privacy of Personal Information in a manner that is consistent with this privacy policy.

Personal Information will be retained for at least seven years following the end of the relationship (unless there are legal requirements that require its retention) after which all documentation will be destroyed in a manner commensurate with its sensitivity.

Client Access to their Personal Information

Lucida’s Chief Compliance Officer has been appointed Chief Privacy Officer (“CPO”). The CPO oversees privacy governance including the development of policies, adherence to procedures, training, and education, reporting to Lucida’s Board, and dispute resolution. Clients may contact Lucida’s CPO in writing if they wish to:

access their Personal Information;
correct their Personal Information;
withdraw consent to any use and disclosure of their Personal Information (however, this may limit the Client’s opportunity to access Lucida’s services or products);
obtain more information or have concerns; and
file a complaint relating to how Lucida has handled their Personal Information (if a Client is dissatisfied with the results of an investigation of a complaint, they may bring the complaint to the attention of the Office of the Privacy Commissioner of Canada (“OPC”)).

Costs associated with the provision of Personal Information further to a Client’s written request are borne by the Client. Requested information will generally be provided within 30 days of the request being made. Lucida’s Chief Privacy Officer may be contacted at:

Lucida Capital Inc.
8300 Woodbine Avenue, Suite 509
Markham, ON  L3R 9Y7
Tel:       (647) 313-8569
Email:    info@lucidacapital.com

Breaches and Risk of Harm

Lucida is subject to reporting and notification obligations in the event a privacy breach occurs which results in a real risk of significant harm to an individual. A privacy breach is the loss of, unauthorized access to, or disclosure of, Personal Information resulting from a breach of an organization’s security safeguards. A real risk of significant harm includes but is not limited to damage to reputation or relationships, identity theft, humiliation, or financial loss.

In the event of a privacy breach, Lucida will investigate and assess the implications of the breach as soon as feasible. Where Lucida has determined the breach creates a real risk of significant harm to an individual, Lucida will investigate the matter, report to the OPC and notify affected individuals as soon as feasible, and take remedial measures as applicable.