Effective June 2022
GDPR Data Protection and Privacy Notice
About this privacy notice
This notice, which is provided in connection with the European Union’s General Data Protection Regulation (“GDPR”), applies to Two Sigma Investments, LP (“TSI”), Two Sigma Advisers, LP (“TSA”) and the funds and other investment products that TSI or TSA manage or sub-advise (each, a “Fund” and, together, the “Funds”). In this notice, we refer to each of TSI and TSA individually as the “Investment Manager” and, together with the Funds, collectively as “Two Sigma”, “we”, “us”, and “our”.
More information regarding TSI, TSA and the relevant Fund is available in each such Fund’s definitive offering document or in the definitive disclosure document accompanying the relevant management agreement.
This notice provides you with information about how, when and why Two Sigma uses your personal data. It also sets out your rights under GDPR as presently understood, Two Sigma’s responsibilities under GDPR and how Two Sigma can be contacted.
The Fund and the relevant Investment Manager are each a data controller in respect of your personal data for the purposes of GDPR. The Fund and the relevant Investment Manager are responsible for ensuring that they use your personal data in compliance with GDPR.
The Fund’s administrator will generally process personal data provided to it in connection with an investment in a Fund. The Fund and the relevant Investment Manager will generally act as the data controller of any such personal data.
This privacy notice applies to you if (i) you are an investor or prospective investor in a Fund or an adviser to a Fund, (ii) your personal data has been provided to a Fund in connection with an investment or prospective investment directly or by another person (such as where you are a director, partner, trustee, employee, agent or direct or indirect owner of an investor or prospective investor) or (iii) we otherwise use your personal data. This privacy notice sets out the basis on which personal data about you will be processed by Two Sigma. Please take the time to read and understand this privacy notice.
Personal data that Two Sigma is likely to use
Two Sigma is likely to process the following categories of personal data about you:
- Information provided by you directly to Two Sigma, including (i) personal identification data or characteristics, such as your name and address (including proofs of name and address), contact details, date of birth, gender, domicile, nationality and information related to your family and other close associate relationships, (ii) identification documents, such as copies of your passport or driver’s license, photograph, and signature specimen, (iii) occupational data, such as your employment history, and job title, and (iv) financial data, such as your income, assets, other financial information, bank details, investment history, tax residency and tax identification information.
- Information collected or generated by Two Sigma, including information obtained through emails, call recordings, and website usage data (and other related data).
- Information that Two Sigma obtains from other sources, including information obtained for the purpose of know-your-customer procedures (which include anti-money laundering procedures, counter-terrorist financing procedures, politically-exposed-person checks, sanctions checks, among other things), information from public websites and other public sources, and information received from your advisers, representatives, service providers or intermediaries.
Uses of your personal data
Your personal data may be stored and processed by Two Sigma for the following purposes:
- Assessing and processing materials in connection with your investment in the Fund and related dealings, including performing know-your-customer procedures, conducting capital activity related to your investment, calculating net asset value and ownership, and overseeing these and similar
- General relationship and business administration, including communicating with investors and their advisers, representatives, intermediaries, service providers and other counterparties about an investment in the Fund, communicating with such persons regarding the potential for other investments with Two Sigma, conducting other relationship management matters, engaging with the Fund’s accountancy, legal and audit services, and conducting risk monitoring, IT systems administration and other product improvement
- Compliance with legal and regulatory obligations and industry standards, including know- your-customer procedures, the automatic exchange of tax information and legal
- Business activities of the Investment Manager and its affiliates relating to the Fund, such as investor relations, discussions with the Two Sigma’s service providers and counterparties, and general business strategy, development, decision-making and marketing
Two Sigma is entitled to process and store your personal data in these ways and for the following reasons:
- If you are an investor or prospective investor, you may enter into an investment contract with the Fund and some processing will be necessary for the performance of that contract, or will be done at your request prior to entering into that
- Processing will be necessary to discharge a relevant legal or regulatory
- The processing will, in all cases, be necessary for the legitimate business interests of the Fund, the Investment Manager, the Fund’s administrator or another person, such as:
- carrying out the business activities of the Fund, the Investment Manager, the Fund’s administrator or other persons, including, for example, to provide advisory services to its investors, providing sub-advisory services to an adviser pursuant to a management agreement, to asses and open accounts for its investors and prospective investors, to process transactions for such accounts, to communicate with and market products and services to its investors and prospective investors, to communicate with service providers and counterparties, and for informing Two Sigma’s decision-making (such as in connection with business strategy and development).
- complying with legal and regulatory obligations and industry practice, and preventing fraud;
- establishing, exercising or defending legal rights or for other purposes relating to legal proceedings; and
- ensuring the security of information
- In respect of any processing of sensitive personal data falling within special categories, such as any personal data relating to the political opinions of a politically exposed person, the processing will be necessary for reasons of substantial public
Disclosure of your personal data to third parties
Two Sigma will from time to time, in accordance with the purposes described above, disclose your personal data to other parties, including to (a) its affiliates, (b) the Fund’s administrator and its affiliates, (c) professional advisers such as law firms and accountancy firms, (d) other service providers of the Fund, the Investment Manager and the Fund’s administrator (and their affiliates),
- counterparties and (f) courts and regulatory, tax and governmental authorities. Some of these persons will process your personal data in accordance with Two Sigma’s instructions and others will themselves be responsible for their use of your personal data. These persons will often be permitted to further disclose the personal data to other
Transfers of your personal data outside the European Economic Area
Your personal data will be transferred to and stored by persons outside the European Economic Area (the “EEA”), and in particular will be transferred to and stored by affiliates or service providers of the Fund or the Fund’s administrator outside the EEA.
Where personal data is transferred outside the EEA, Two Sigma will ensure that the transfer is subject to appropriate safeguards or is otherwise permitted under applicable law. For example, the country to which the personal data is transferred may be approved by the European Commission, the recipient may have agreed to model contractual clauses approved by the European Commission that oblige them to protect the personal data, or the recipient may be located in the United States and be a certified member of the EU-US Privacy Shield scheme.
You can obtain more details of the protection given to your personal data when it is transferred outside the EEA, including a copy of any standard data protection clauses entered into with recipients of your personal data, by contacting the Fund using the details set out under “Contacting Two Sigma” below.
Retention of personal data
How long Two Sigma holds your personal data for will vary. The retention period will be determined by various criteria, including the purposes for which Two Sigma is using it (as it will need to be kept for as long as is necessary for any of those purposes) and legal obligations (as laws or regulations may set a minimum period for which Two Sigma has to keep your personal data).
You have a number of legal rights in relation to the personal data that Two Sigma holds about you. These rights include the following:
- The right to obtain information regarding the processing of your personal data and access to the personal data that Two Sigma holds about
- In some circumstances, the right to receive some personal data in a structured, commonly used and machine-readable format and the right to request that Two Sigma transmits that data to a third party where this is technically Please note that this right only applies to personal data which you have provided to Two Sigma.
- The right to request that Two Sigma rectifies your personal data if it is inaccurate or incomplete.
- The right to request that Two Sigma erases your personal data in certain circumstances. Please note that there are likely to be circumstances where you ask Two Sigma to erase your personal data but Two Sigma is entitled to retain it for legal
- The right to object to, and the right to request that Two Sigma restricts, its processing of your personal data in certain circumstances. Again, there are likely to be circumstances where you object to, or ask Two Sigma to restrict, its processing of your personal data but Two Sigma is legally entitled to continue processing your personal data or to refuse that request.
- The right to lodge a complaint with the data protection regulator (details of which are provided below) if you think that any of your rights have been infringed by Two
You can exercise your rights by contacting Two Sigma using the details set out under “Contacting Two Sigma” below. You can find out more information about your rights by contacting an EU data regulator such as the UK’s Information Commissioner’s Office, or by searching their website at ico.org.uk.
Necessity of personal data for an investment in the Fund
The provision of certain personal data is necessary for an investor or prospective investor to be considered for an offer to invest in a Fund and for compliance by the Fund and its service providers with certain legal and regulatory obligations. Accordingly, if certain personal data is not provided when requested, an investment might not be accepted or you may not be permitted to remain invested.
Contacting the Fund
Leo RegTech Limited, incorporated and registered in England and Wales with company number 04829021, acting through its French branch located at 128 rue de la Boétie 75008, Paris, France, is a designated representative of Two Sigma in the European Union, in accordance with article 27 of the EU General Data Protection Regulation (2016/679/EU).
Two Sigma has mandated Leo and its branch to be the EU Representative of the Company with regards to any communications or enquiry from the Supervisory Authority and/or data subjects on all issues related to the processing of personal data.
If you are in the EU, please contact Leo at the following details:
- Email: email@example.com
- Address: FAO EuroRep, c/o Leo, 128 rue de la Boétie 75008, Paris, France
When contacting Leo regarding Two Sigma, please quote the name Two Sigma and the Ref: 0085
Information about the collection, use, disclosure, transfer or processing of your personal data or the exercise of any of the rights listed above is also available from the Fund. To contact the Fund, please refer to the contact information provided in the Fund’s definitive offering document or in the definitive disclosure document accompanying the relevant management agreement. You may also contact your Two Sigma relationship manager.