Introduction
This is the investor data protection policy and privacy notice (“Policy”) for Brookfield (as defined below). This Policy applies to Investors (as defined below).
At Brookfield, we respect your privacy and this Policy governs how Brookfield collects, processes (as defined below) and uses your Personal Data (as defined below). For the purposes of applicable laws and regulations relating to data protection and privacy (“Data Protection Legislation”) Brookfield acts as a controller in respect of your Personal Data.
This Policy may change from time to time and you should review it periodically.
This Policy was last updated in November 2021.
Definitions
The following definitions shall apply to this Policy:
“Brookfield”, “we”, “us”, “our” means the Brookfield entities and Brookfield affiliated entities set out in the ‘Who we are’ section of Annex A.
“Investor” means an investor in a Brookfield managed investment vehicle, who may be an individual investor or an institutional investor (direct or intermediary).
“Personal Data” has the meaning given to it or any similar term (e.g., “personal information”, “nonpublic personal information”, “PII”, “personally referable information”) in applicable Data Protection Legislation and for the avoidance of doubt means any information which directly or indirectly identifies or otherwise relates to a living individual, which is in the possession or under the control of Brookfield (or its representatives or service providers). Such Personal Data may include, without limitation, the name, age, identification number, email address, address, telephone number, location data, financial data, or online identifier of that individual. In addition to factual information, such Personal Data includes any expression of opinion about a living individual and any indication of the intentions of Brookfield or any other person in respect of a living individual.
“Process” or “processing” means any operation that is carried out in respect of Personal Data, including but not limited to collecting, storing, using, disclosing, transferring or deleting Personal Data.
“Sensitive Personal Data” has the meaning ascribed to this or any similar term provided by applicable Data Protection Legislation (e.g., “sensitive personal information”, “sensitive data”, “special categories of personal data”) and includes the Personal Data mentioned in Section 5 below.
“You”, “Your” means a living individual, who may be:
- an Investor or prospective Investor; or
- an employee, director, officer, trustee, beneficiary, or representative or intermediary of an Investor or prospective Investor.
The Types of Personal Data We Collect
Many of the services offered by Brookfield require us to obtain Personal Data about you in order to perform the services we have been engaged to provide, and to comply with applicable law or policies (for example, Know Your Client and Anti- Money Laundering). In connection with the provision of those services, Brookfield will collect Personal Data about you:
- directly from you;
- from a third party acting on your behalf, for example an intermediary, lawyer or service provider;
- from other Brookfield entities;
- from publicly available sources;
- from other organizations; and
- when we generate it ourselves.
Such Personal Data may include:
- details of your name, age, date of birth, e-mail address, address, telephone number, identification number, online identifier, location, gender, nationality, citizenship and other contact information;
- financial information or other information obtained as a result of your investment in any of our funds (such as advisor details, investment details, banking details, and financial details);
- for any tax implications related to your financial activities, your social insurance or Medicare or social security number or other tax identification number and details of tax residency;
- data provided by you in the context of us carrying out background checks, anti-money laundering, regulatory, tax and know your client checks (such as data included in identification documents, details of criminal records and sanctions);
- a file with your contact history;
- information relating to the services we provide to our Investors or prospective Investors; and
- information required as a result of legal, tax and regulatory requirements or internal policies.
Please note that if you do not provide certain Personal Data to Brookfield when requested (and where relevant, provide your consent), we may not be able to provide you with some or all of our services and products (including those set out in this Policy or in other agreements we enter into with you).
How We Use Your Personal Data
Your Personal Data may be collected, stored, disclosed and processed by Brookfield for the following purposes:
- to provide you with marketing communications and inform you about news and information relating to our business and services, including new product launches, product updates and general business news (see Section 11 below for further information);
- to assess your application for Brookfield’s products and services, where applicable;
- to understand your needs and interests and to respond to your enquiries;
- to analyze and improve our services;
- for the management and administration of our business;
- to provide you with the products and services for which you subscribe;
- to comply with and in order to assess compliance with applicable laws, rules and regulations (including tax reporting purposes pursuant to tax legislation), industry codes, voluntary codes we decide to adopt, or good practice, anywhere in the world and internal policies and procedures;
- to confirm and verify your identity and to conduct due diligence, background and related checks (this may involve the use of a credit reference agencies and/or other third parties acting as our agents to conduct these verifications and related reviews including screens against publicly available government and/or law enforcement agency sanctions lists);
- to detect, investigate and prevent fraud and other crimes or malpractice;
- for the purpose of, or in connection with, any legal proceedings (including prospective legal proceedings);
- to obtain legal advice or to establish, exercise or defend legal rights;
- the administration and maintenance of databases storing Personal Data;
- to comply with our contractual obligations; and
- for purposes otherwise set out in this Policy or as notified to you at the specific time of collection.
Brookfield is entitled to use your Personal Data for the purposes listed above because one or more of the following legal bases applies:
- Brookfield needs to do so in order to perform its contractual obligations to you (for example, in order to manage your investments and verify the information you provide);
- Brookfield has obtained your specific and informed consent (which may include written consent) in accordance with applicable Data Protection Legislation unless an exemption provided under applicable law permits the use and disclosure of your Personal Data without your consent;
- Brookfield has legal or regulatory obligations that must be discharged;
- Brookfield may need to do so in order to establish, exercise or defend its legal rights or for the purpose of legal proceedings;
- there may be certain exemptions provided under applicable laws which permit the use and disclosure of your Personal Data without your consent; or
- the use of your Personal Data as described is necessary for our legitimate business interests or the legitimate interests of a third party provided such interest are not overridden by your rights or interest, including: (i) allowing Brookfield to effectively and efficiently administer and manage the operation of its business; (ii) maintaining compliance with internal policies and procedures; (iii) monitoring the use of our copyrighted materials; or (iv) for internal research purposes.
If you are located in a jurisdiction which requires us to obtain your consent to collect, use, store, process and disclose your Personal Data, you understand that by accepting the terms of this Policy you expressly provide your consent to Brookfield collecting, using, storing, processing and disclosing your Personal Data as set out in this Policy.
To the extent permitted by applicable law, we may record and/or monitor electronic communications (including email and telephone) to ensure compliance with our legal and regulatory obligations and internal policies and for the purposes outlined in this Policy.
Sensitive Personal Data
Certain forms of Personal Data are subject to specific protection or restriction by law in certain territories or regions. Depending on the jurisdiction, Sensitive Personal Data can include:
- data relating to racial or ethnic origin;
- political opinions;
- religious or philosophical beliefs;
- trade union membership information;
- genetic data;
- biometric data;
- data concerning health or sex life or sexual orientation;
- data relating to criminal activity or proceedings;
- passwords and financial information such as bank account details, credit card and debit card details;
- citizenship or immigration status;
- government-issued identifiers;
- precise geolocation data; and
- in certain circumstances, the contents of an individual’s mail, email or text messages.
We will not process your Sensitive Personal Data unless such processing is compliant with applicable Data Protection Legislation.
Disclosure of Your Personal Data to Third Parties
Brookfield does not sell Personal Data to third parties or target advertising to individuals based on their Personal Data obtained from their online activity on non-affiliated websites or applications (“cross-context behavioral advertising”). Brookfield may share or provide access to your Personal Data among its affiliates and business units and third party agents, service providers and contractors outside of Brookfield:
- for the purpose of the management and administration of Brookfield’s business;
- in order to facilitate the provision and enhancement of services to you (including the management of your investments);
- for the purpose of the administration and maintenance of the databases storing Personal Data;
- for the purposes of Brookfield receiving services (for example, Brookfield’s accountants, administrators, auditors, service providers, custodians, depositories, third party managers, paying agents, professional advisors, IT and communications providers or any entity we reasonably consider necessary for the purposes outlined above). These third parties are expected to be subject to confidentiality requirements (either by contract, professional obligation, duty or otherwise) that require them to only use your Personal Data as described above;
- to the extent required by law (for example, if Brookfield is compelled by an obligation or a duty to disclose your Personal Data where we believe it is necessary or appropriate to comply with any legal obligation, rule, regulations or internal Brookfield policies and procedures, including (without limitation) in order to comply with tax reporting requirements and other statutory reporting and disclosures to regulatory authorities), or to establish, exercise or defend its legal rights. This may include disclosure to regulatory bodies or government agencies);
- as part of a transaction, financing, or for other business needs (for example, if Brookfield sells any of its businesses or assets, applies for a loan, or opens bank accounts, in which case Brookfield may need to disclose your Personal Data to the prospective buyer, lender or bank, as the case may be, as part of certain due diligence processes); or
- if Brookfield or any of its affiliates, divisions or business units is acquired by a third party, including in the unlikely event of a bankruptcy, in which case the Personal Data held by Brookfield about you will be accessible to, and may be acquired by, the third party buyer.
Brookfield may share anonymous or aggregated data with third parties such as service providers in order to facilitate our business operations.
Transfers of Personal Data
Brookfield operates globally. This means Personal Data may be processed and disclosed as described above, in any country in which we conduct business or have a service provider. Accordingly, when you provide your Personal Data to Brookfield, you acknowledge and agree that we may disclose your Personal Data to recipients (including, but not limited to service providers, Brookfield affiliates or agents, and Brookfield IT servers) located in jurisdictions other than your own, including but not limited to the following countries: Australia, Brazil, Canada, China, Hong Kong, India, Japan, Singapore, South Korea, UAE, UK, USA, Spain, Germany, Colombia, the Cayman Islands, Bermuda and Luxembourg.
To the extent that applicable Data Protection Legislation does not allow or permit us to obtain your valid consent by virtue of providing this Policy to you, or otherwise rely on the other grounds set out in this Policy for disclosing your Personal Data outside of your jurisdiction, we will obtain your explicit consent through other means (if applicable) or, where relevant, ensure that the recipient is required to provide a standard of protection to your Personal Data that is equivalent to that under the Data Protection Legislation of your jurisdiction (e.g., by using standard contractual clauses for such international transfers).
In other circumstances, Data Protection Legislation may permit Brookfield to otherwise transfer your Personal Data outside your jurisdiction provided it is in compliance with such Data Protection Legislation.
How We Safeguard Your Personal Data
Brookfield has implemented commercially reasonable controls and appropriate technical and organizational measures to protect Personal Data, as well as to maintain the security of our information and information systems in respect of Personal Data. Investor files are protected with safeguards according to the sensitivity of the information contained therein. Appropriate controls (such as restricted access) are placed on our computer systems and used where appropriate. Reasonable measures are taken to ensure physical access to Personal Data is limited to authorized employees.
As a condition of employment, Brookfield employees are required to follow applicable laws and regulations, including in relation to Data Protection Legislation. Unauthorized use or disclosure of confidential Investor information by a Brookfield employee is prohibited and may result in disciplinary measures.
When you contact a Brookfield employee about your file, you may be asked to provide evidence of your identity (e.g., driver’s license or passport) and/or to confirm some details relating to the Personal Data Brookfield holds about you. These types of safeguards are designed to ensure that only you, or someone authorized by you, has access to your file.
Retention and Destruction of Personal Data
The period for which Brookfield will hold your Personal Data will vary and will be determined by the following criteria:
- The purpose for which Brookfield is using it. Brookfield is required to retain the Personal Data for as long as is necessary to satisfy or meet the purposes for which it was obtained including applicable legal or regulatory requirements; and
- Legal Obligations. Laws or regulations may set a minimum period for which Brookfield must retain your Personal Data.
Depending on the requirements of the Data Protection Legislation of your jurisdiction, Brookfield will take reasonable steps in the circumstances to destroy your Personal Data when we no longer have a legal basis to retain it or to ensure that the information is anonymized.
Your Rights
To the extent provided by the law of your jurisdiction, you may have legal rights in relation to the Personal Data about you that Brookfield holds. These rights may include:
- the right to refuse to provide any Personal Data and the right to object at any time to the processing of your Personal Data. Please note that such refusal or objection may prevent us from providing services to you;
- the right to confirm whether we process your Personal Data and to obtain information regarding the processing of your Personal Data and access to the Personal Data about you that Brookfield holds (including any available information as to the source of the Personal Data and any safeguards that may have been used to transfer Personal Data outside of your jurisdiction, as referred to in Section 7 above);
- where consent was provided for certain processing activities, the right to withdraw your consent to the collection, processing, use and/or disclosure of your Personal Data at any time. Please note, however, that this will not affect the lawfulness of any collection, processing, use or disclosure undertaken before your withdrawal and that Brookfield may still be entitled to process your Personal Data if it has another legitimate reason (other than consent) or a consent exception for doing so. In some cases, withdrawing your consent to the collection, use process or disclosure of some or all of your Personal Data may prevent us from providing services to you;
- in some circumstances, the right to receive a copy of some Personal Data in a structured, commonly used and machine-readable format and/or request that Brookfield transmit that data to a third party where this is technically feasible. Please note that this right may, depending on the jurisdiction, only apply to Personal Data that you have provided to Brookfield;
- the right to request that Brookfield rectify or correct your Personal Data if it is inaccurate or incomplete;
- in some circumstances, the right to request that Brookfield erase your Personal Data. Please note that such a request may prevent us from providing services to you and that there may be circumstances where Brookfield is legally entitled to retain Personal Data regardless of any such request;
- in some circumstances, the right to request that Brookfield restrict, anonymize or block its processing of your Personal Data. Please note that such a request may prevent us from providing services to you and that there may be circumstances where Brookfield is legally entitled to retain Personal Data regardless of any such request;
- in some circumstances, the right to obtain information about the public and private entities with which Brookfield made shared use of the Personal Data as a joint controller;
- in some circumstances, the right to receive information on the possibility of not providing consent and on the consequences of the refusal;
- in some circumstances, the right to non-discrimination against you for exercising your legal rights in relation to your Personal Data; and
- where applicable, the right to lodge a complaint with the data protection regulator in your jurisdiction if you think that any of your rights have been infringed by Brookfield.
You can enquire about your rights, which are applicable to you, by contacting Brookfield using the details listed below in Section 17. If you wish to exercise any of the rights, which are applicable to you, when you contact Brookfield using the details listed below, you will be asked to complete a ‘Subject Access Request Form’.
Processing of Personal Data for Marketing Purposes
To the extent permitted by applicable law, we may contact you by mail, e-mail, SMS/text, telephone and other electronic means to provide information on products and services that we believe will be of interest, unless you object to receiving such information. If you do not want to receive such communications from us please contact the Privacy Officer on the details set out below in Section 17 or by using the opt-out facilities provided within the relevant marketing material.
Your option not to receive promotional and marketing material: (a) shall not preclude us from corresponding with you, by email or otherwise, regarding your relationship with us (e.g., your account status and activity or our responses to questions or inquiries you pose to us); (b) shall not preclude us, including our employees, contractors, agents and other representatives, from accessing and viewing your Personal Data for our internal business purposes; and (c) shall not preclude us from disclosing your Personal Data as described in this Policy for purposes other than sending you promotional and marketing materials.
Use of Personal Data in Relation to Data Subjects in Canada and Australia
Canadian Anti-Spam Legislation requires that commercial electronic messages (“CEMs”) sent within Canada or into Canada from another jurisdiction may only be sent to individuals who opt into receiving them, subject to certain exceptions. Similar legislation applies in Australia (Spam Act 2003 (Cth)). Such consent may be implicit, such as by engaging in a prior business relationship, or by virtue of having one’s email address listed in a public directory. These anti-spam laws also require senders to include an opt-out function such as an “unsubscribe” mechanism within a CEM. You may opt-out of the collection or use of your information by Brookfield. In some cases, withdrawing your consent to the collection, use or disclosure of some or all of your personal information will prevent us from providing services to you. To opt-out, please contact Brookfield’s Privacy Officer using the details set out below or use the opt-out facility provided in the CEM. Please note that in some cases Brookfield is permitted to send you certain CEMs after you opt out, such as where required to enforce legal rights.
California Privacy Rights
If you are a California resident, this section of the Policy is intended to provide you with information concerning your rights under the California Consumer Privacy Act of 2018, as amended by the California Privacy Rights Act of 2020 (“CCPA”).
We have collected, and disclosed for a business purpose, the following categories of Personal Data within the last twelve (12) months:
- identifiers and other personal information, such as name, address, and online identifiers;
- commercial information, such as purchase history;
- internet or other electronic network activity information, such as browsing history, search history, and interactions with advertisements;
- professional or employment-related information;
- education information;
- inferences drawn from any of the foregoing categories of information to create a consumer profile; and
- Sensitive Personal Data, including personal information that reveals a consumer’s social security, driver’s license, state identification card, or passport number.
The third parties to whom we may disclose Personal Data, including Sensitive Personal Data, are set forth in Section 6 and the sources from which we receive Personal Data, including Sensitive Personal Data, are set forth in Section 3. Our business or commercial purposes for collecting and using Personal Data, other than Sensitive Personal Data, are set forth in Section 4. Our purposes for collecting and using Sensitive Personal Data are limited to providing our services to you (including obtaining services from our service providers in order to do so), ensuring the security and integrity of your Personal Data, and maintaining and improving the quality of our services.
If you are a California resident, you have the right to request certain information from us regarding the manner in which we share with third-parties certain categories of information that identifies you for the third-parties’ direct marketing purposes. Brookfield does not share Personal Data with third parties for those third parties’ own direct marketing purposes.
The CCPA provides you with certain rights that are in addition to the rights set out in Section 10 above:
- the right to request, up to twice in a twelve month period, your Personal Data (including, as applicable, any available information as to the source of the Personal Data, the retention period for the Personal Data, Brookfield’s purposes for collecting such Personal Data, the categories of Personal Data we have disclosed and the categories of third parties to whom such Personal Data has been disclosed) in a format that is portable and, to the extent technically feasible, in a readily useable format that will allow you to transmit it to another entity.
- the right to request that Brookfield delete your Personal Data, except in circumstances where Brookfield is legally entitled to retain Personal Data regardless of any such request.
- effective January 1, 2023, the right to request that Brookfield correct inaccurate Personal Data maintained about you.
- the right to opt out of any sale of your Personal Data to any third parties or, effective January 1, 2023, the sharing of your Personal Data for the purposes of cross context behavioral advertising. Note that Brookfield does not sell Personal Data to third parties or share it with third parties for purposes of cross context behavioral advertising.
- the right to limit Brookfield’s use of your Sensitive Personal Data to those uses which are necessary to perform our services or provide goods as reasonably expected. Note that Brookfield already limits its use of your Sensitive Personal Data to such uses.
- the right not to face discrimination, as defined under the law, for exercising your rights.
If you wish to exercise any of the rights enumerated in this section, please contact us at +1 833.681.0340 or PrivacyOfficer@Brookfield.com. We may require additional Personal Data in order to verify your identity. You may designate an agent to act on your behalf. If you make a request through an authorized agent, we may require additional information to verify your authorization of the agent.
Additional Privacy Notice Information Required for U.S. Individuals
Please see Annex A.
Additional Privacy Notice Information Required for Australia Residents and China Residents
We will deal with your Personal Data (which has the same meaning as “Personal Information” under the Privacy Act 1988 (Cth), namely any information from which your identity is apparent or can be reasonably ascertained), in accordance with Australian privacy requirements including the Privacy Act 1988 (Cth) and Australian Privacy Principles, the Spam Act 2003 (Cth), the Do Not Call Register Act 2006 (Cth) and any applicable state/territory privacy laws or industry codes. Information that is not “about” an individual is not considered “Personal Data” under Australian law.
If you contact us to access your Personal Data, to seek to correct it, or to make a complaint about privacy, we will respond as soon as we reasonably can, and in any event within any timescales stipulated by applicable law. We do not impose any charge for a request, but we may charge you a reasonable fee for our costs associated with providing you access and retrieval costs. For complaints about privacy, we will establish in consultation with you a reasonable process including time frames, for seeking to resolve your complaint.
For Data Subjects who are residents in China, we will deal with your Personal Data (which has the same meaning as “Personal Information” under the Personal Information Protection Law, the China Cybersecurity Law and the Information Security Technology – Personal Information Security Specification in accordance with all applicable laws and regulations.
If Brookfield allows Data Subjects to register an account online in China, Data Subjects also have the right to request Brookfield to deregister the account unless: (i) there are recent suspicious activities relating to the account such as change of password or identity verification information; (ii) the Data Subjects wish to retain the assets, rights or benefits in the account; (iii) there are unfinished orders or services; or (iv) there are outstanding disputes with the Data Subjects, including complaints.
Questions and Concerns
If you have any questions or concerns about Brookfield’s handling of your Personal Data, or about this Policy, please contact our Privacy Officer using the contact information set out below.
We are typically able to resolve privacy questions or concerns promptly and effectively. If you are not satisfied with the response you receive from our Privacy Officer, depending on your jurisdiction, you may have the option to escalate concerns to the applicable privacy regulator in your jurisdiction, the details of which can be obtained from the Privacy Officer.
Brookfield Privacy Office Contact Information
Department: Legal & Regulatory
Email: PrivacyOfficer@Brookfield.com
If you are a resident in Dubai, you can also contact us by post:
Attention: Privacy Officer
Brookfield Asset Management
Level 16
Al Mustaqbal Street, DIFC
P.O. Box 507234
Dubai
Annex A: Privacy Notice
| Facts | What does Brookfield do with your personal information? |
|---|---|
| Why? | Financial companies choose how they share your personal information. U.S. federal law gives consumers the right to limit some but not all sharing. U.S. federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
| What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include:
|
| How? | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Brookfield chooses to share; and whether you can limit this sharing. |
| Reasons we can share your personal information | Does Brookfield share? | Can you limit this sharing? |
|---|---|---|
| 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 bureaus1 | Yes | No |
| For our marketing purposes— to offer our products and services to you | Yes | No |
| For joint marketing with other financial companies | No | We don't share |
| For our affiliates’ everyday business purposes— information about your transactions and experiences | No | We don't share |
| For our affiliates’ everyday business purposes— information about your creditworthiness | No | We don't share |
| For our affiliates to market to you | No | We don't share |
| For nonaffiliates to market to you | No | We don't share |
1. Certain registered representatives (“Registered Representatives”) of Brookfield Private Advisors LLC, a FINRA member, are also registered with FINRA on behalf, and under the supervision, of Quasar Distributors (“Quasar”), also a FINRA member, for purposes of marketing and distribution of certain Brookfield-sponsored mutual funds, and SDDco Brokerage Advisors, LLC (“SDDco”), also a FINRA member, for purposes of marketing and distribution of a non-traded real estate investment trust (REIT). In order to facilitate Quasar’s and SDDco’s supervision of the Registered Representatives’ activities that are conducted through Quasar and SDDco, Brookfield makes available to Quasar and SDDco such representatives’ e-mail communications for the limited purpose of conducting supervisory reviews, subject to appropriate confidentiality arrangements.
Questions and Concerns
Contact Ronald Fisher-Dayn by phone at (212) 978-1763 or via email at Ronald.Fisher-Dayn@Brookfield.com
| Who we are | |
|---|---|
| Who is providing this notice? | BROOKFIELD ASSET MANAGEMENT INC. |
| What we do | |
|---|---|
| How does Brookfield protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. |
| How does Brookfield collect my personal information? | We collect your personal information, for example, when you:
|
| Why can’t I limit all sharing? | U.S. federal law gives you the right to limit only:
State laws and individual companies may give you additional rights to limit sharing. |
| Definitions | |
|---|---|
| Affiliates |
Companies related by common ownership or control. They can be financial and nonfinancial companies. Our affiliates include the Brookfield companies. |
| Nonaffiliates |
Companies not related by common ownership or control. They can be financial and nonfinancial companies. Nonaffiliates we share with can include fund administrators, custodians, brokers, dealers, counterparties, auditors, and legal advisors. |
| Joint marketing |
A formal agreement between nonaffiliated financial companies that together market financial products or services to you. Brookfield does not jointly market. |
| Other important information |
|---|
| N/A |
