Anti-Spam Commitment (CASL)
Smead Capital Management (Canada) Ltd. (“Smead Canada”, “we”, “us”, “our” or the “firm”) is committed to conducting its electronic communications in compliance with Canada’s Anti-Spam Legislation (“CASL”), which came into force on July 1, 2014, and the regulations administered by the Canadian Radio-television and Telecommunications Commission, the Competition Bureau and the Office of the Privacy Commissioner of Canada.
This Anti-Spam Commitment describes the principles and practices that Smead Canada follows when sending electronic communications that may constitute commercial electronic messages under CASL. It is intended to provide transparency regarding our electronic communication practices and to inform recipients of their rights regarding such communications.
CASL regulates commercial electronic messages (“CEMs”), which are electronic messages that encourage participation in a commercial activity, including messages sent by email, text message or certain social media platforms.
In the normal course of its business, Smead Canada, and Smead US acting on its behalf, may send electronic communications to investment dealers, financial advisors, institutional investors, service providers and other business contacts. Since securities of the investment funds managed by Smead Canada are distributed through registered dealers and investor accounts are maintained by transfer agents and fund administrators, Smead Canada and/or Smead US generally have limited direct electronic communication with retail investors.
Smead Canada maintains procedures designed to ensure that commercial electronic messages sent by it, or by Smead US on its behalf, comply with CASL. These steps include maintaining procedures intended to ensure that appropriate consent is obtained before sending commercial electronic messages where required, that required identification and contact information is included in electronic communications, and that recipients are provided with a functioning unsubscribe mechanism where applicable.
Under CASL, consent to receive commercial electronic messages may be express or implied depending on the circumstances. Express consent may be obtained when an individual or organization voluntarily subscribes to receive communications or otherwise agrees to receive electronic communications from Smead Canada and/or Smead US, where applicable. In certain circumstances, consent may also be implied, including where there is an existing business relationship, where an individual has made an inquiry or request for information, or where a business contact has conspicuously published their electronic address in connection with their professional role and has not indicated that they do not wish to receive commercial electronic messages.
Certain electronic messages are exempt from CASL’s consent requirements. These may include messages sent to respond to a request or inquiry, messages sent within an ongoing business relationship, messages that facilitate or confirm a transaction, or messages sent to enforce a legal right or obligation.
Where commercial electronic messages requiring consent are sent by Smead Canada or by Smead US on behalf of Smead Canada, the message will identify the sender and, where applicable, the organization on whose behalf the message is sent. These communications will also include an unsubscribe mechanism that enables recipients to withdraw their consent from receiving further commercial electronic messages. Any unsubscribe request will be processed as soon as practicable and in any event within the time period required by CASL.
Unsubscribing from commercial electronic messages will not affect the ability of Smead Canada or Smead US, where applicable, to send certain types of messages that are exempt under CASL, including communications relating to an existing business relationship, regulatory disclosures or other messages required to administer an ongoing relationship.
Questions regarding this Anti-Spam Commitment or requests relating to electronic communications from Smead Canada may be directed to the firm using the contact information provided on this website.
Smead Canada may review and update this Anti-Spam Commitment from time to time to reflect changes in applicable legislation, regulatory guidance or business practices. The most current version of this commitment will be posted on this website.
