Privacy Policy

Updated: March 2025

Reviewed by: Fundserv Chief Privacy Officer

Reviewed: March 2025

This privacy notice provides an overview of how we interact with your personal information at Fundserv and describes our commitment to maintaining the privacy, security, and confidentiality of personal information.

If after reading this privacy notice you have questions or concerns, please contact the Fundserv Privacy Office, privacy@fundserv.com.

What is personal information?

Personal information is information about you, which could be used to identify you directly or indirectly.

Personal information can include a name, contact information, health information, social insurance number, banking information, driver’s license number, health card number, passport information, financial transactions — basically any information about you.

Personal information typically does not include business contact information such as business address, business title, business email, business phone number – this also applies if you use your residence as your address for your business.

Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries (our members), enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members and provides online access to more than 100,000 investment fund products.

Fundserv processes data and transfers for members as a centralized data sharing hub, sending fund transaction information seamlessly between members. Members act as data controllers directing Fundserv, who acts as a data processor, to provide a platform and services for those members, who include Distributors, Intermediaries and Carrying Brokers, and Manufacturers.

What does this mean to me as an individual investor?

Fundserv acts as the intermediary between members to help flow financial transactions, facilitate money movement for financial transactions, flow account updates, and communicate transaction/account reconciliation files between members. You as the investor meet with a financial advisor to help you achieve your goals, like buying a house or retiring. Often the financial plan includes mutual funds. Transaction requests for mutual funds are sent from the financial advisor company to Fundserv and we route the order on to the appropriate fund company. We also support the moving of your money from your account to fund companies.

What categories of personal information does Fundserv collect?

Does that mean Fundserv has copies of my investment information and access to my personal information?

In limited cases, like when individuals visit our website, Fundserv will collect personal information (like your IP address and location information) directly from you. However, in most cases Fundserv does not directly collect personal information from individual investors. Your personal information is submitted by members, i.e., your service provider, and is packaged in a file. Limited employees have access to this file to confirm that transactions have been processed correctly.

Fundserv generally retains a copy of your file for a period of less than 90 days. This is to confirm that transactions have been processed correctly.

Once your personal information has met its retention period, it will be securely destroyed or anonymized. If you are located outside Quebec, your information could also be de-identified at the end of the retention period. Fundserv may retain de-identified information for business purposes; however, through a rigorous process, we take steps to minimize the risk that the information can be used to re-identify you.

There may be circumstances required by law where Fundserv needs to keep your information for a longer period in accordance with our record retention policies.

How does Fundserv use personal information?

Fundserv uses data received from members, which may include personal information, to provide services to members. More specifically, we may use personal information to:

• Process transactions and enable the use of Services;
• Conduct audits, including of transactions and network activity;
• Provide technical support and respond to inquiries, including from members or individuals to whom information relates;
• Store data, which may include personal information, and keep records of our processing activities;
• Comply with any legal obligations that apply to Fundserv in connection with our Services and websites;
• Provide notices and updates about our services or send other communications that are relevant to the use of our services; and
• Protect members and individuals by enhancing our ability to detect and prevent fraud and