Collection of Personal Data. FPA may collect non-public personal information and other personal information of current, former, and prospective clients and investors and visitors to the FPA website (collectively, “clients and/or investors”, as applicable). For purposes of California residents only, pursuant to the CCPA, personal information includes information that identifies, relates to, describes, is reasonably capable of being associated with, or could reasonably be linked, directly or indirectly, with a California resident or a household. “Personal Data” for the purposes of this policy includes nonpublic personal information and personal information as defined under the CCPA with regard to California residents.
The Personal Data collected about a client and/or investor may include: (i) identifiers and similar information such as the client and/or investor’s name, address, tax identification number, birth date, driver’s license number, and potentially email address and phone number (if provided); (ii) additional information protected under certain federal or state law, like a client and/or investor’s signature or bank account information; (iii) characteristics of protected classifications under certain federal or state law, like gender or marital status; (iv) commercial information like an investment selection, beneficiary information, or transaction and account history with FPA; (v) internet or other electronic network activity such as interactions with the FPA website, including information collected through cookies or other similar tools described in “Information Collected Automatically from Websites” below; (vi) professional or employment-related information like a client and/or investor’s occupation and job title; (vii) audio, electronic or similar information such as voicemails; (viii) inferences drawn from the other categories to build a profile on a client and/or investor to, for example, gauge a client and/or investor’s potential interest in investing in new funds or products; and (ix) sensitive personal information as defined under the CCPA such as your passport number, driver’s license, state identification card.
Sources of Personal Data. While providing current or prospective clients and/or investors with products and services, FPA and certain service providers, such as transfer agents and/or administrators, may obtain Personal Data about such clients and/or investors, which may come directly from the client, investor or their intermediaries from sources such as: (i) account applications, subscription agreements and other forms; (ii) written, electronic or verbal correspondence; (iii) client and/or investor transactions; (iv) a client and/or investor’s brokerage or financial advisory firm, financial advisor or consultant; and/or (v) from information captured on applicable websites, including information you may voluntarily provide when you subscribe to receive FPA’s quarterly updates or request us to mail you information about the FPA funds. In addition, we may collect additional Personal Data from different sources, such as: (i) our service providers; (ii) public websites or other publicly available sources such as government records; and/or (ii) from credit reporting agencies, sanctions screening databases, or from sources designed to detect and prevent fraud.
Our Purpose for Collecting Personal Data. We may collect or use all or a few of these categories of Personal Data listed above for the following business or commercial purposes: (i) performing services on behalf of FPA, including, for example, maintaining or servicing accounts, providing customer service, processing transactions, verifying information, processing payments, or providing similar services; (ii) performing our contractual obligations, including processing initial subscriptions and providing updates on our performance and other operational matters; (iii) detecting security incidents, protecting against malicious, deceptive, fraudulent, or illegal activity, including, preventing fraud and conducting “Know Your Client,” anti-money laundering, terrorist financing, and conflict checks; or (iv) enabling or effecting commercial transactions, including, using bank account details to remit funds and process distributions.
Disclosure of Personal Data. FPA does not disclose any Personal Data provided by clients and/or investors or gathered by FPA to third parties, except as required or permitted by law or as necessary for such third parties to perform their agreements with respect to FPA. Non-affiliated companies may from time to time be used to provide certain services, such as maintaining client and/or investor accounts, preparing and mailing prospectuses, reports, account statements and other information, and gathering shareholder proxies. In many instances, the client and/or investor will be clients of a third party, but FPA may also provide a client’s and/or investor’s Personal Data and account information to the client’s and/or investor’s respective custodian, brokerage or financial advisory firm and/or financial advisor or consultant.
FPA reserves the right to report or disclose Personal Data or account information to third parties in circumstances where FPA believes in good faith that disclosure is required or permitted under law, to cooperate with regulators or law enforcement authorities, to protect their rights or property, or upon reasonable request by FPA the FPA funds in which a client and/or investor has invested. FPA may also disclose Personal Data in the event of a sale or transfer of all or a portion of FPA’s business or assets (including in the event of a reorganization, dissolution, or liquidation). In addition, FPA may disclose information about a client and/or investor or a client’s and/or investor’s accounts to a third party at the client and/or investor’s request or direction or with the consent of the client and/or investor.
Rights to Limited Sharing Under Certain Laws. Certain federal laws give you the right to limit some but not all sharing of your nonpublic personal information. We do not: (i) share nonpublic personal information with non-affiliates to market to you; (ii) engage in joint marketing with non-affiliates; (iii) share nonpublic personal information with affiliates to market to you; or (iv) share nonpublic personal information about your creditworthiness with affiliates. However, various state laws in the United States may give you additional rights to limit sharing. Please note that for purposes of this section (“Rights to Limited Sharing Under Certain Laws”) “sharing” does not mean “sharing” as defined under the CCPA. For additional disclosures and information on our CCPA practices, please review “Additional Information for California Residents,” below.
Procedures to Safeguard Private Information. FPA will take reasonable steps and use security measures appropriate to the nature of the information and that comply with applicable laws to protect client and/or investors’ Personal Data against unauthorized access and exfiltration, acquisition, theft, or disclosure. In addition to this policy, FPA has implemented internal procedures that are designed to help guard clients’ and/or investors’ Personal Data, including technical, administrative, and physical security measures in accordance with applicable law. These measures include physical, electronic, and procedural safeguards to protect your Personal Data (i.e., computer safeguards and secured files and buildings). Given the nature of information security, there is no guarantee that such safeguards will always be successful.
Information Collected Automatically from Websites. When you visit a website maintained by FPA, or interact with certain communications FPA may send you, those sites or communications may collect certain information about that visit or interaction through automated tools, including cookies. Cookies are bits of data that a website sends to a web browser on a visitor's computer. Websites maintained by FPA use such automated tools to operate the websites and collect analytics information about your visit to our websites, including the number of visitors to a website and the webpages visited. These tools may be provided by third party analytics providers, such as Google Analytics, or other service providers. The analytics information collected does not identify a particular individual visitor or user. You can find out more information about Google Analytics here. You can change your preferences regarding the use of such tools (i.e., cookie preferences) by changing the setting on your web browser to delete or reject cookies. If you delete or reject cookies, some website pages may not function properly. FPA websites do not respond to “do not track” signals.
Additional Information for California Residents. The CCPA imposes certain obligations on us and grants certain rights to California residents (“California Resident,” “you” or “your”) with regard to “personal information.” If you are a California Resident, please review the following information about your potential rights with regard to your personal information under the CCPA. The rights described in this section are subject to exemptions and other limitations under applicable law.
Terms used in this section have the meaning ascribed to them in the CCPA. For purposes of the CCPA, FPA is a business.
Notice at Collection and Use of Personal Information
Information We Collect. Depending on how you interact with us, we may collect the categories of personal information listed above in the section “Collection of Personal Data”.
Purpose for Collection and Use of Information. We also may collect and use personal information from California Resident clients and/or investors for the purposes listed above in “Our Purpose for Collecting Personal Data”.
How Long We Keep Information. How long we keep your personal information will vary depending on the type of personal information and our reasons for collecting it. The retention period will be determined by various criteria, including the purposes for which we are using it (as it will need to be kept for as long as is necessary for any of those purposes) and our legal obligations (as laws or regulations may set a minimum period for which we have to keep your personal information). In general, we will retain your personal information for as long as we require it to perform our contractual rights and obligations or for periods required by our legal and regulatory obligations.
Sale or Sharing of Personal Information. We do not sell or share your personal information (as those terms are defined under the CCPA).
Our Collection, Use, and Disclosure of Personal Information and Sensitive Personal Information
What Information We Have Collected, the Sources from Which We Collected It, and Our Purposes for Collecting the Information. In the preceding 12 months, depending on how you interact with us, we may have collected the categories of personal information listed above in the “Collection of Personal Data” section. We may collect personal information from all or some of the categories or sources listed above in the “Sources of Personal Data” section. We may collect all or a few of these categories of personal information for the business or commercial purposes identified in “Our Purpose for Collecting Personal Data.”
Our Disclosure of Personal Information. We do not sell or share your personal information (as those terms are defined under the CCPA). We do not knowingly sell or share the personal information of California Residents under 16 years old.
In the preceding 12 months, we may have disclosed for a business purposes the following categories of personal information to the following categories of third parties, as described in the chart and paragraph below. For additional information on these categories of personal information, please review the “Collection of Personal Data” section above.
In addition, in the preceding 12 months, we may have disclosed all of the categories of personal information identified in “Collection of Personal Data” above, to the following categories of third parties: (i) judicial courts, regulators, or other government agents purporting to have jurisdiction over the group or opposing counsel and parties to litigation; (ii) any relevant third party acquirer(s), in the event that we sell or transfer all or any relevant portion of our business or assets; and (iii) other third parties as may otherwise be permitted by law. We may disclose personal information to all of the third parties listed above to comply with our legal obligations or for the purposes identified above in “Our Purpose for Collecting Personal Data.”
We may also disclose or make available your personal information with our service providers such as administrators, tax and accounting auditors or providers, counsel, CRM software providers, or other entities that have agreed to limitations on the use of your personal information, or entities that fit within other exemptions or exceptions in, or as otherwise permitted by, the CCPA.
Our Use and Disclosure of Sensitive Personal Information. As noted above in the section “Collection of Personal Data,” under the CCPA, certain personal information we collect and process may be considered “sensitive personal information.” The CCPA requires that we provide you with a right to limit our use or disclosure of such sensitive personal information in certain circumstances. Currently, we are not using your sensitive personal information for purposes that would require that we provide you with a right to limit.
California Resident’s Rights under the CCPA. Certain California Residents as defined under the CCPA may have certain rights concerning their personal information, subject to applicable exemptions and limitations, such as the right to: (i) be informed, at or before the point of collection, of the categories of personal information to be collected and the purposes for which the categories of personal information shall be used; (ii) not be discriminated against because they exercised any of their rights under the CCPA; (iii) request that FPA delete any personal information about them that FPA has collected or maintained, subject to certain exceptions (“Request to Delete”); and (iv) opt-out of the “sale” (as that term is defined in the CCPA) of your personal information if a business sells your personal information (we do not); (v) opt-out of the “sharing” (as that term is defined in the CCPA) of your personal information if a business shares your personal information with third parties (we do not); (vi) limit the use and disclosure of sensitive personal information where required by the CCPA (“Right to Limit”) (please note that we are not using your sensitive personal information for purposes that would require that we provide you with a Right to Limit); (vii) correct inaccurate personal information (“Request to Correct”); (viii) request that FPA, as a business that collects personal information about them and that discloses their personal information for a business purpose, disclose to them (“Request to Know”): (a) the categories of personal information FPA has collected about them; (b) the categories of sources from which FPA has collected the personal information; (c) the business or commercial purpose for collecting or selling the personal information; (d) the categories of third parties with whom FPA discloses personal information about you for a business purpose; (e) the specific pieces of personal information FPA has collected about them; and (f) the categories of personal information FPA has disclosed about them for a business purpose.
The CCPA does not restrict our ability to do certain things like comply with other laws or comply with regulatory investigations. In addition, the CCPA does not apply to certain information, including, generally, personal information collected, processed, sold, or disclosed pursuant to the Gramm-Leach-Bliley Act and its implementing regulations. We also reserve the right to retain, and not to delete, certain personal information after receipt of a Request to Delete from a California Resident where permitted by the CCPA or another law or regulation.
How to Submit a Request under the CCPA
California Residents may contact us in order to exercise your Request to Know, Request to Delete, or Request to Correct (“Consumer Rights Request”) to the extent they are applicable, by calling this toll-free number, 1-800-982-4372, Option 3, or by emailing us at email@example.com, with “Consumer Rights Request” in the subject line. This toll-free number and email address can also be found on our website at https://fpa.com/privacy-policy.
FPA is required to provide certain information, delete personal information, or correct inaccurate personal information only in response to verifiable requests made by a California Resident or the legally authorized agent of a California Resident. Any information gathered as part of the verification process will be used for verification purposes only. When you submit a Consumer Rights Request, we may ask that you provide clarifying or identifying information to verify your request. Such information may include, at a minimum, depending on the sensitivity of the information you are requesting and the type of request you are making, your name, phone number and email address. Any information gathered as part of the verification process will be used for verification purposes only.
Revised: April 2023