CANADA Law and Practice Contributed by: Darin Renton, Jill Winton, Amy Chao and Irena Ninkovic, Stikeman Elliott LLP
31-103, requiring them to determine the level of risk that an investor may be able to take and the suitability of a particular investment for an investor, taking the investor’s portfolio and investment goals into consid - eration. 4.12 Data Security and Privacy for Investors The collection, use and disclosure of personal infor - mation in the private sector is governed by federal, provincial and sector-specific legislation. The range of legislation that may apply to an organisation depends on factors such as the location of the organisation, the location of third-party service providers and/or recipi - ents, the sector in which an organisation operates, and whether or not the organisation transfers personal information across borders. In general, an individual’s personal information (as defined in relevant legislation) may not be collected, used and/or disclosed without the individual’s con - sent, and may only be collected, used and/or dis - closed for specific purposes that have been brought to the individual’s attention, the whole subject to cer - tain exceptions.
At the federal level (for organisations that have fed - eral undertakings), the collection, use and disclosure of personal information in the course of commercial activities is governed by federal legislation known as the Personal Information Protection and Electronic Documents Act (PIPEDA). At the provincial level, PIPEDA applies where a prov - ince has not enacted legislation that has been deemed substantially similar to PIPEDA. At the time of writing, the provinces of Quebec, Alberta and British Columbia have enacted legislation that has been deemed sub - stantially similar to PIPEDA with regards to all privacy obligations. The provinces of Ontario, New Brunswick and Newfoundland and Labrador have enacted leg - islation that has been deemed substantially similar to PIPEDA with regards to health information custodians only. In those provinces, PIPEDA applies with respect to other types of privacy obligations. 4.13 Anticipated Changes for Investors There are no forthcoming changes that may impact any of the information provided in this section.
72 CHAMBERS.COM
Powered by FlippingBook