Privacy Notice
Your privacy is very important to us. This notice (this "Privacy Notice") is provided by Paloma Partners Management Company ("PPMC"), Paloma Partners Advisors LP ("PPA"), and the Paloma Fund , and corresponding parallel, alternative and other fund vehicles managed and administered by PPMC or PPA (the "Fund" and together with PPMC and PPA, "us" or "we") and sets forth the policies of the Fund for the collection, use, storage, sharing, disclosure (collectively, "processing") and protection of personal data relating to current, prospective and former investors in the Fund. This Privacy Notice is being provided in accordance with the requirements of data privacy laws, including, the Cayman Islands Data Protection Act (As Revised) ("DPA") or any other law relating to privacy or the processing of personal data and any statutory instrument, order, rule or regulation implemented thereunder, each as applicable to the Fund (collectively, "Data Protection Laws"). References to "you" or an "investor" in this Privacy Notice mean any investor who is an individual, or any individual connected with an investor who is a legal person (each such individual, a "data subject"), as applicable.
Capitalized terms used herein but not defined herein shall have the meanings assigned to them in the applicable Confidential Private Offering Memorandum of the Fund as may be supplemented, updated or modified from time to time (the "Memorandum").
Types of information we collect and the purposes for which it is processed:
Account Registration and Management: We collect names, residential addresses and other contact details (phone, fax, email), signature, and we may collect some or all of the following: nationality, passport number, tax identification number, date of birth, place of birth, photo ID, copies of government issued identification documents, bank account details, account balances and transaction information, information about assets or net worth, credit history, or source of funds details. We collect this information to fulfill our contract to provide our investor services and to comply with legal and regulatory obligations. We have a legitimate interest in providing account related functionalities to our investors. We have a legitimate interest in managing and administering services to our current, prospective, and former investors.
Demographic Information: We may collect information such as your age or location. We have a legitimate interest in understanding our investors. We also may need to collect this information to comply with legal and regulatory obligations.
Web logs and First Party Cookies: We collect information from you, including your browser type, operating system, Internet Protocol (IP) address (a number that is automatically assigned to your computer when you use the internet), domain name, click-activity, referring website, and/or a date/time stamp for your visit. We have a legitimate interest in monitoring and operating our networks and website.
Business partner contacts: We collect the name and contact information of employees of third parties with whom we may interact, including vendors. We have a legitimate interest in contacting and communicating with third parties about business activities.
How we collect personal data
We may collect personal data about you through: (i) information provided directly to us by you, or another person on your behalf when you submit a subscription document to invest in the Fund; (ii) information that we obtain in relation to any transactions between you and us; and (iii) electronic communications with you. We also may receive your personal information from third parties or other sources, such as our affiliates identified at the top of this Privacy Notice, the Administrator, marketing or business development partners, publicly accessible databases or registers, tax authorities, governmental agencies and supervisory authorities, credit agencies, fraud prevention and detection agencies, or other publicly accessible sources, such as the Internet. Where personal data is required to satisfy a statutory obligation (including compliance with applicable anti-money laundering or sanctions requirements) or a contractual requirement, failure to provide such information may result in your subscription in the Fund being rejected or compulsorily redeemed. Where there is suspicion of unlawful activity, failure to provide personal data may result in the submission of a report to the relevant law enforcement agency or supervisory authority.
How we share your personal data
All financial companies need to share customers’ personal data to run their everyday business. Below, we list the ways we share personal data collected in accordance with applicable Data Protection Laws and whether you can limit such sharing. To request that we limit sharing where permitted, please contact us using the information below.
We may share your personal data:
• For our everyday business purposes (such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus). You cannot limit this sharing.
• For our marketing purposes (to offer our products and services to you). You can sometimes limit this sharing.
• For our affiliates’ everyday business purposes (such as information about your transactions and experiences). You cannot limit this sharing.
• With our affiliates for direct marketing purposes, such as offers of products and services to you by our affiliates. You have the right to limit this type of sharing. If you are a new investor, under U.S. federal law, we can begin sharing your personal data with our affiliates for their own (if any) direct marketing purposes 30 days from the date we sent this Privacy Notice. When you are no longer our investor, we may continue to share your personal data with our affiliates for such purposes. We may also disclose information about your transactions and experiences with us to our affiliates for their everyday business purposes.
We do not share your personal data with non-affiliates except as required or permitted by law. We do not share your personal data with non-affiliates for them to market to you, and we do not share your personal data for joint marketing with other financial companies. If you limit sharing for an account you hold jointly with someone else, your choices will apply to everyone on your account. U.S. state laws and applicable foreign jurisdictions may give you additional rights to limit sharing.
In addition to the specific situations discussed above, we disclose personal data in the following situations:
1. Affiliates and Acquisitions. We may share personal data with our corporate affiliates (e.g., parent company, sister companies, subsidiaries, joint ventures, or other companies under common control). If another company acquires, or plans to acquire, our company, business, or our assets, we will also share personal data with that company, including at the negotiation stage.
2. Other Disclosures with Your Consent. We may ask if you would like us to share your personal data with other unaffiliated third parties who are not described elsewhere in this notice.
3. Other Disclosures without Your Consent. We may disclose personal data in response to subpoenas, warrants, or court orders, or to relevant regulatory authorities, or to tax authorities or in connection with any legal process, or to comply with relevant laws. We may also share your personal data to establish or exercise our rights, to defend against a legal claim, to investigate, prevent, or take action regarding possible illegal activities, suspected fraud, safety of person or property, or a violation of our policies, or to comply with your request for the provision of services by a third-party intermediary. It may also be necessary, under anti-money laundering and similar laws, to disclose personal data about the Fund’s investors to accept subscriptions from them or to facilitate the establishment of trading relationships for the Fund with executing brokers or other trading counterparties. We will also release personal about you if you direct us to do so.
4. Service Providers. We share your personal data with service providers. Among other things, service providers help us to administer our fund, provide technical support, administer our website, send you mailings and other information, and process subscriptions and redemptions. Service providers also include, but not are not limited to, our Administrator, Prime Brokers, website service providers, marketing and customer relationship service providers, Custodians, Auditors, Legal Advisers and executing brokers and trading counterparties.
Monitoring of communications
We may monitor electronic communications with you for the purposes of: (i) ascertaining the details of instructions given, the terms on which any transaction was executed or any other relevant circumstances; (ii) ensuring compliance with our regulatory obligations; and/or (iii) detecting and preventing the commission of financial crime.
Retention periods and security measures
We will not retain personal data for longer than is necessary in relation to the purpose for which it is collected, subject to applicable Data Protection Laws. Personal data will be retained for the duration of your investment in the Fund, and for a period of ten years after a redemption of an investment from the Fund, or liquidation of the Fund. We may retain personal data for a longer period for internal compliance purposes or compliance with applicable law. From time to time, we will review the purpose for which personal data has been collected and decide whether to retain it or to delete if it no longer serves any purpose to us.
No method of transmission of the internet or method of electronic storage is fully secure. While we use reasonable efforts to protect your personal data from unauthorized access, use, or disclosure, we cannot guarantee the security of your personal data. These measures include computer safeguards and secured files and buildings. If we are required by applicable law to inform you of a breach to your personal data, we may notify you electronically, in writing, or by telephone, if permitted to do so by law.
International transfers
Because of the international nature of the fund management business, personal data may be transferred to countries outside your country of residence, including the European Economic Area (“EEA”), Switzerland, or the Cayman Islands ("Third Countries"), such as to jurisdictions where we conduct business or have a service provider. This may include countries that may not have the same level of data protection as that afforded by the applicable Data Protection Laws in your country of residence, including, but not necessarily limited to, the United States. In such cases, we will process personal data (or procure that it be processed) in the Third Countries in accordance with the requirements of applicable Data Protection Laws, including through Standard Contractual Clauses used for the transfer of personal data outside of the EEA, Switzerland, or the Cayman Islands.
Automated decision-making
We will not take decisions producing legal effects concerning you, or otherwise significantly affecting you, based solely on automated processing of your personal data, unless we have considered the proposed processing in a particular case and concluded in writing that it meets the applicable Data Protection Law requirements.
Your Choices
Where required by law, investors in some jurisdictions can make the following choices regarding their personal data, which you can do by contacting us at the address, phone number, or email at the end of this Privacy Notice:
1. Access to Your Personal Information. You may request access to your personal data or confirmation that we are processing your personal data. If required by law, upon request, we will grant you reasonable access to the personal data that we have about you.
2. Changes to Your Personal Information. We rely on you to update and correct your personal data. If our website does not permit you to update or correct certain information, you can request that your personal data be modified. Note that we may keep historical information in our backup files as permitted by law.
3. Deletion of Your Personal Information. You may request that we delete your personal data. If required by law, we will grant a request to delete your personal data, but you should note that in many situations we must keep your personal data to comply with our legal obligations, resolve disputes, enforce our agreements, or for another one of our business purposes.
4. Objection to or Restriction of Certain Processing. In certain circumstances, you may object to our processing of your personal data, or request that we restrict processing of your personal data. We will no longer process your personal data unless we have compelling legitimate grounds for the processing which override the interests, rights and freedoms of the data subject, or for the establishment, exercise or defense of legal claims. Note that you can object to processing for direct marketing purposes.
5. Revocation of Consent. Where we process your personal data based on consent, if you revoke or restrict your consent, we may no longer be able to provide you services.
6. Right to compensation for damage and to make a complaint. Under the DPA, you have the right to be informed of a personal data breach (unless the breach is unlikely to be prejudicial to you) and may have a right to compensation for any damage that occurred because of a personal data breach. Where you feel that your rights are not being respected, you may submit a complaint to the Office of the Ombudsman of the Cayman Islands or your appropriate supervisory authority.
Please note, not all of the rights described above are absolute, and they do not apply in all circumstances. In some cases, we may limit or deny your request because the law permits or requires us to do so, or if we are unable to adequately verify your identity. We do not discriminate against any individuals who exercise their privacy rights under applicable Data Protection Law.
Miscellaneous
• Changes to this Privacy Notice. We may change our Privacy Notice and practices over time. New notices will be published on our website. To the extent that our Privacy Notice changes in a material way, the notice that was in place at the time that you submitted personal data to us will generally govern that information unless we receive your consent to the new privacy notice. Our Privacy Notice includes an “effective” and “last updated” date. The effective date refers to the date that the current version took effect. The last updated date refers to the date that the current version was last substantively modified.
• Additional Information for residents of California. California law requires us to provide additional information and rights pursuant to California law. You can find additional information below.
• If you are not satisfied with our response and are in the European Union or United Kingdom, you may have a right to lodge a complaint with your local supervisory authority.
Who to contact about this Privacy Notice
Please contact Investor Relations at +1(203) 861-3236 or by writing to the following address: Paloma Partners Management Company, Two American Lane, Greenwich, Connecticut 06836-2571, United States of America or info@paloma.com for any questions about this Privacy Notice or requests with regards to the personal data we hold. For more specific information or requests in relation to the processing of personal data by the Administrator, Prime Brokers, Custodians or any other service provider of the Fund, you may also contact the relevant service provider directly at the address specified in the Directory section of the Memorandum or by visiting their websites.
Effective date: April 2025
Last updated: April 2025
Additional Information for residents of California
If you are a California resident, the following privacy disclosures apply to you in addition to the rest of the Privacy Notice.
Categories of Information We Collect, Use and Disclose
California law indicates that organizations should disclose whether certain categories of personal data are collected, “sold” or transferred for “valuable consideration,” “shared” for purposes of cross-context behavioral advertising, or transferred for an organization’s “business purpose” (as those terms are defined under California law). We do not “sell” your personal data or “share” your personal data for the purposes of cross-context behavioral advertising. The table below indicates the categories of personal information we collect and transfer in a variety of contexts. Please note that because this list is comprehensive, it may refer to types of information that we collect and share about people other than you.
Categories of Personal Data We Collect To Whom We Disclose Personal Data for a Business Purpose
Identifiers – this may include real name, alias, postal address, unique personal identifier, online identifier, email address, account name, social security number, driver’s license number, passport number or other similar identifiers.
• Affiliates or subsidiaries
• Business partners
• Government entities, as may be needed to comply with law or prevent illegal activity
• Internet service providers
• Operating systems and platforms
• Other Service Providers
• Professional services organizations, this may include auditors and law firms
Additional categories of personal information described in the California Customer Records statute (Cal. Civ. Code § 1798.80(e)) – this may include signature, physical characteristics or description, state identification card number, insurance policy number, education, bank account number, credit card number, debit card number, and other financial information, medical information, and health insurance information. • Affiliates or subsidiaries
• Business partners
• Government entities, as may be needed to comply with law or prevent illegal activity
• Operating systems and platforms
• Other Service Providers
• Professional services organizations, this may include auditors and law firms
Characteristics of protected classifications – this may include age, sex, race, ethnicity, physical or mental handicap, etc. • Affiliates or subsidiaries
• Business partners
• Government entities, as may be needed to comply with law or prevent illegal activity
• Other Service Providers
• Professional services organizations, this may include auditors and law firms
Commercial information – this may include information about products or services purchased, obtained, or considered, or other purchasing or consuming histories or tendencies. N/A
Biometric information N/A
Internet or other electronic network activity information – this may include browsing history, search history, and information regarding an individual’s interaction with an internet website, application, or advertisement. • Affiliates or subsidiaries
• Business partners
• Government entities, as may be needed to comply with law or prevent illegal activity
• Internet service providers
• Operating systems and platforms
• Other Service Providers
Geolocation data N/A
Audio, electronic, visual, thermal, olfactory, or similar information • Affiliates or subsidiaries
• Government entities, as may be needed to comply with law or prevent illegal activity
• Other Service Providers
Professional or employment-related information • Affiliates or subsidiaries
• Government entities, as may be needed to comply with law or prevent illegal activity
• Operating systems and platforms
• Other Service Providers
• Professional services organizations, this may include auditors and law firms
Non-public education information (as defined in the Family Educational Rights and Privacy Act) N/A
Inferences drawn from any of the information listed above N/A
Sensitive Information Disclosure
We collect the following categories of sensitive personal information (as defined under California law): (1) Social Security number, driver’s license, state identification card, or passport number; and (2) contents of a consumer’s mail or email where we are not the intended recipient. This information is collected in order to process transactions, comply with laws, manage our business, or provide you with services. Note that we do not use such information for any purposes that are not identified within the California Privacy Rights Act Section 1798.121. We do not “sell” or “share” sensitive personal information for purposes of cross-context behavioral advertising.
California Shine the Light
If you would like more information concerning the categories of personal data (if any) we share with third parties or affiliates for those parties to use for direct marketing purposes, please submit a written request using the contact information in the “Who to contact about this Privacy Notice” section above.
Your Privacy Rights
California law provides California consumers with the right to request (1) access to their personal data; (2) deletion of their personal data, and (3) correction of their personal data, subject to certain exceptions. These rights do not apply to personal data collected pursuant to certain U.S. federal laws. As required by law, we may need to request specific information from you to help us confirm your identity. We may verify your identity by phone call or email and we will ask for information such as your name, or other account information. We may also ask you to provide a signed declaration confirming your identity. California law permits you to designate an authorized agent to submit requests to exercise certain privacy rights on your behalf. We will require verification that you provided the authorized agent permission to make a request on your behalf. You must provide us with a copy of the signed permission you have given to the authorized agent to submit the request on your behalf and verify your own identity directly with us. If you are an authorized agent submitting a request on behalf of an individual, you must attach a copy of the following information to the request:
1. A completed Authorized Agent Designation Form indicating that you have authorization to act on the consumer’s behalf.
2. If you are a business, proof that you are registered with the Secretary of State to conduct business in California.
If we do not receive both pieces of information, the request will be denied.
Do Not Track Disclosure
We do not currently recognize automated browser signals regarding tracking mechanisms, which may include "Do Not Track" instructions.
Accessibility
This Privacy Notice is accessible through your browser’s audio reader. If you need to access this Privacy Notice in an alternative format due to having a disability, please contact us using the contact information in the “Who to contact about this Privacy Notice” section above.
Paloma Partners Management Company (“PPMC”) Terms of Use:
By accessing or using this Paloma Partners Management Company ("PPMC") internet website (the "Site") you hereby accept and agree to comply with the terms and conditions set forth in this User Agreement (this "User Agreement"), and you shall be considered a "User." This User Agreement is entered into by and between you and PPMC, and governs your access to and use of the Site and the information ("Content") available on the Site.
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YOU AND PPMC WILL SETTLE ANY DISAGREEMENTS BY ARBITRATION IN NEW YORK STATE UNDER THE SUBSTANTIVE PROVISIONS OF NEW YORK STATE LAW.
With respect to the resolution of any such controversy, you further acknowledge that:
Arbitration is final and binding on the parties.
The parties are waiving their right to seek remedies in court, including the right to jury trial.
Pre-arbitration discovery is generally more limited than and different from court proceedings.
The arbitrators' award is not required to include factual findings or legal reasoning and any party's right to appeal or to seek modification of rulings by the arbitrators is strictly limited.
The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.
Arbitration shall be conducted in the Borough of Manhattan, New York State.
Any questions about the nature of our relationship or the law surrounding this relationship will be governed by New York State law without giving effect to conflicts of law principles.
Entire Agreement. This User Agreement (including the Privacy Policy), as modified from time to time, constitutes the entire agreement between you and PPMC with respect to the subject matter hereof. This User Agreement replaces all prior or contemporaneous understandings or agreements, written or oral, regarding the subject matter hereof.
Joint Venture. Nothing in this User Agreement shall constitute or create a joint venture, partnership, or any other similar arrangement between you and PPMC. Neither party is authorized to act as agent or bind the other party except as expressly stated in this User Agreement.
Assignability. This User Agreement will be binding on and will inure to the benefit of the legal representatives, successors and assigns of the parties hereto. PPMC may assign this User Agreement in whole or in part at any time without your consent. You may not assign this User Agreement or delegate any of your obligations hereunder. Any purported assignment of this User Agreement in violation of its terms shall be void.
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postage prepaid, to Paloma Partners Management Company, 2 American Lane,Greenwich, CT 06836-2571.
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Headings. Headings used in this User Agreement are for convenience only. They do not constitute part of this User Agreement.