Last Updated: February 09, 2022
Addepar, Inc. (“Addepar” or the “Company”) respects your concerns about privacy. Addepar has recertified in the EU- U.S. Privacy Shield Framework and the Swiss- U.S. Privacy Shield Framework (collectively, the “Privacy Shield”) issued by the U.S. Department of Commerce. Addepar commits to comply with the Privacy Shield Principles with respect to Consumer Personal Data the company receives from the European Union, the United Kingdom, and Switzerland in reliance on the Privacy Shield. This Policy describes how Addepar implements the Privacy Shield Principles for Consumer Personal Data.
For purposes of this Policy:
“Client” means any entity, such as a wealth management advisory firm or private bank, that uses Addepar’s products or services.
“Consumer” means any natural person who is located in the EU, United Kingdom or Switzerland, but excludes any individual acting in his or her capacity as an Employee.
“Controller” means a person or organization which, alone or jointly with others, determines the purposes and means of the processing of Personal Data.
“Employee” means any current, former or prospective employee, intern or temporary worker of Addepar, or any related individual whose Personal Data Addepar processes in connection with an employment relationship, who is located in the EU, United Kingdom or Switzerland.
“EU” means the European Union and Iceland, Liechtenstein and Norway.
“Personal Data” means any information, including Sensitive Data, that is (i) about an identified or identifiable individual, (ii) received by Addepar in the U.S. from the EU, United Kingdom or Switzerland, and (iii) recorded in any form.
“Privacy Shield Principles” means the Principles and Supplemental Principles of the Privacy Shield.
“Processor” means any natural or legal person, public authority, agency or other bodies that processes Personal Data on behalf of a Controller.
“Sensitive Data” means Personal Data specifying medical or health conditions, racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership (including trade union-related views or activities), sex life (including personal sexuality), information on social security measures, the commission or alleged commission of any offense, any proceedings for any offense committed or alleged to have been committed by the individual or the disposition of such proceedings, or the sentence of any court in such proceedings (including administrative proceedings and criminal sanctions).
Types of Personal Data Addepar Collects
Addepar serves as both a Controller and a Processor with respect to the Consumer Personal Data it obtains and maintains.
The types of Personal Data Addepar collects directly from Consumers include:
Contact information, such as name, email address, telephone number and country; Data collected automatically through Addepar.com (such as IP address, unique device identifier, browser characteristics, device characteristics, operating system, language preferences, referring URLs, information on actions taken on Addepar.com, and dates and times of website visits).
Information contained in content submitted by Consumers, such as through Addepar’s “Connect With Us” contact form located at https://addepar.com/connect-with-us/.
In addition, Addepar obtains Personal Data, such as contact information, of its Clients’ representatives who are located in the EU, United Kingdom or Switzerland. Addepar uses this information to manage its relationships with its Clients, and carry out Addepar’s obligations under its contracts with its Clients.
Addepar also may obtain and use Consumer Personal Data in other ways for which Addepar provides specific notice at the time of collection.
As a Processor, Addepar receives Personal Data about its Clients’ Consumers located in the EU, United Kingdom and Switzerland, when Clients provide such Personal Data to Addepar. For example, in connection with providing its products and services, Addepar may process Personal Data, including name, email address, and financial account data, relating to a Client’s Consumers located in the EU, the United Kingdom and Switzerland.
Addepar’s privacy practices regarding the processing of Consumer Personal Data comply with the Privacy Shield Principles of Notice; Choice; Accountability for Onward Transfer; Security; Data Integrity and Purpose Limitation; Access; and Recourse, Enforcement, and Liability.
When Addepar acts as a Processor and Consumer Personal Data is transferred to Addepar in the U.S. on behalf of a Client, the Client is responsible for providing appropriate notice to its Consumers and obtaining the requisite consent.
Relevant information also may be found in notices pertaining to specific data processing activities.
When Addepar collects Personal Data directly from Consumers, the company generally offers those Consumers the opportunity to choose whether their Personal Data may be (i) disclosed to third-party Controllers or (ii) used for a purpose that is materially different from the purposes for which the information was originally collected or subsequently authorized by the relevant Consumer. Consumers may contact Addepar as indicated below regarding the company’s use or disclosure of their Personal Data. Unless Addepar offers Consumers an appropriate choice, the company uses Personal Data only for purposes that are materially the same as those indicated in this Policy.
When Addepar maintains Personal Data about Consumers with whom Addepar does not have a direct relationship because Addepar obtained or maintains the Consumers’ data as a Processor, Addepar’s Clients are responsible for providing the relevant Consumers with certain choices with respect to the Clients’ use or disclosure of the Consumers’ Personal Data.
Addepar shares Consumer Personal Data with its affiliates and subsidiaries. Addepar may disclose Consumer Personal Data without offering an opportunity to opt-out and may be required to disclose the Personal Data, (i) to third-party Processors the company has retained to perform services on its behalf and pursuant to its instructions, (ii) if it is required to do so by law or legal process, or (iii) in response to lawful requests from public authorities, including to meet national security, public interest or law enforcement requirements. Addepar also reserves the right to transfer Personal Data in the event of an audit or if the company sells or transfers all or a portion of its business or assets (including in the event of a merger, acquisition, joint venture, reorganization, dissolution or liquidation).
Accountability for Onward Transfer of Personal Data
To the extent Addepar acts as a Controller, except as permitted or required by applicable law, Addepar provides Consumers with an opportunity to opt-out of sharing their Personal Data with third-party Controllers. Addepar requires third-party Controllers to whom it discloses such Consumer Personal Data to contractually agree to (i) only process the Personal Data for limited and specified purposes consistent with the consent provided by the relevant Consumer, (ii) provide the same level of protection for Personal Data as is required by the Privacy Shield Principles, and (iii) notify Addepar and cease processing Personal Data (or take other reasonable and appropriate remedial steps) if the third-party Controller determines that it cannot meet its obligation to provide the same level of protection for Personal Data as is required by the Privacy Shield Principles.
With respect to transfers of Consumer Personal Data to third-party Processors, Addepar (i) enters into a contract with each relevant Processor, (ii) transfers Personal Data to each such Processor only for limited and specified purposes, (iii) ascertains that the Processor is obligated to provide the Personal Data with at least the same level of privacy protection as is required by the Privacy Shield Principles, (iv) takes reasonable and appropriate steps to ensure that the Processor effectively processes the Personal Data in a manner consistent with Addepar’s obligations under the Privacy Shield Principles, (v) requires the Processor to notify Addepar if the Processor determines that it can no longer meet its obligation to provide the same level of protection as is required by the Privacy Shield Principles, (vi) upon notice, including under (v) above, takes reasonable and appropriate steps to stop and remediate unauthorized processing of the Personal Data by the Processor, and (vii) provides a summary or representative copy of the relevant privacy provisions of the Processor contract to the Department of Commerce, upon request. Addepar remains liable under the Privacy Shield Principles if the company’s third-party Processor onward transfer recipients process relevant Personal Data in a manner inconsistent with the Privacy Shield Principles unless Addepar proves that it is not responsible for the event giving rise to the damage.
Addepar takes reasonable and appropriate measures to protect Consumer Personal Data from loss, misuse and unauthorized access, disclosure, alteration, and destruction, taking into account the risks involved in the processing and the nature of the Personal Data.
Data Integrity and Purpose Limitation
Addepar limits the Consumer Personal Data it processes to that which is relevant for the purposes of the particular processing. Addepar does not process Consumer Personal Data in ways that are incompatible with the purposes for which the information was collected or subsequently authorized by the relevant Consumer. In addition, to the extent necessary for these purposes and consistent with its role as a Controller or Processor, Addepar takes reasonable steps to ensure that the Personal Data the company processes is (i) reliable for its intended use, and (ii) accurate, complete and current. In this regard, Addepar relies on its Consumers and Clients (with respect to Personal Data of Consumers with whom Addepar does not have a direct relationship) to update and correct the relevant Personal Data to the extent necessary for the purposes for which the information was collected or subsequently authorized. Consumers (and Clients, as appropriate) may contact Addepar as indicated below to request that Addepar update or correct relevant Personal Data.
Subject to applicable law, Addepar retains Consumer Personal Data in a form that identifies or renders identifiable the relevant Consumer only for as long as it serves a purpose that is compatible with the purposes for which the Personal Data was collected or subsequently authorized by the Consumer.
Consumers generally have the right to access their Personal Data. Accordingly, to the extent, Addepar acts as a Controller, where appropriate, Addepar provides Consumers with reasonable access to the Personal Data Addepar maintains about them. Addepar also provides a reasonable opportunity for those Consumers to correct, amend or delete the information where it is inaccurate or has been processed in violation of the Privacy Shield Principles, as appropriate. Addepar may limit or deny access to Personal Data where the burden or expense of providing access would be disproportionate to the risks to the Consumer’s privacy in the case in question, or where the rights of persons other than the Consumer would be violated. Consumers may request access to their Personal Data by contacting Addepar as indicated below.
When Addepar maintains Personal Data about Consumers with whom Addepar does not have a direct relationship because Addepar maintains the Consumers’ data as a Processor for its Clients, Addepar’s Clients are responsible for providing Consumers with access to the Personal Data and the right to correct, amend or delete the information where it is inaccurate or has been processed in violation of the Privacy Shield Principles, as appropriate. In such circumstances, Consumers should direct their questions to the appropriate Addepar Client. When a Consumer is unable to contact the appropriate Client or does not obtain a response from the Client, Addepar will provide reasonable assistance in forwarding the Consumer’s request to the Client.
Recourse, Enforcement, and Liability
Addepar has mechanisms in place designed to help assure compliance with the Privacy Shield Principles. Addepar conducts an annual self-assessment of its Consumer Personal Data practices to verify that the attestations and assertions Addepar makes about its Privacy Shield privacy practices are true and that Addepar’s privacy practices have been implemented as represented and in accordance with the Privacy Shield Principles.
Consumers may file a complaint concerning Addepar’s processing of their Personal Data. Addepar will take steps to remedy issues arising out of its alleged failure to comply with the Privacy Shield Principles. Consumers may contact Addepar as specified below about complaints regarding Addepar’s Consumer Personal Data practices.
If a Consumer’s complaint cannot be resolved through Addepar’s internal processes, Addepar will cooperate with JAMS pursuant to the JAMS Privacy Shield Program, which is described on the JAMS website at https://www.jamsadr.com/eu-us-privacy-shield. JAMS mediation may be commenced as provided for in the JAMS rules. Following the dispute resolution process, the mediator or the Consumer may refer the matter to the U.S. Federal Trade Commission, which has Privacy Shield investigatory and enforcement powers over Addepar. Under certain circumstances, Consumers also may be able to invoke binding arbitration to address complaints about Addepar’s compliance with the Privacy Shield Principles.
When Addepar maintains Personal Data about Consumers with whom Addepar does not have a direct relationship because Addepar maintains the Consumers’ data as a Processor for its Clients, Consumers may submit complaints concerning the processing of their Personal Data to the relevant Client, in accordance with the Client’s dispute resolution process. Addepar will participate in this process at the request of the Client or the Consumer.
How to Contact Addepar
To contact Addepar with questions or concerns about this Policy or Addepar’s Consumer Personal Data practices:
303 Bryant Street
Mountain View, CA 94041