Privacy Policy

This privacy policy (“Policy”) describes how Parallel Markets, LLC and its related companies (“Company”, “Parallel”, “we” or “us”) collect, use, disclose, and share information (personal or otherwise) of users of this website, parallelmarkets.com, and its associated domains and subdomains (the “Site”). This Policy also applies to any of our other websites that post this Policy. If at any time you do not agree with this Policy, please do not use the Site. This Policy describes how we treat personal and other information when you visit the Site or use our services (the “Services”). We are committed to maintaining the confidentiality, integrity and security of information about our users. We endeavor to take reasonable steps (including physical, electronic and procedural measures) to protect any data or other information collected via the Site or in providing our Services. Please note, however, that we cannot guarantee that the data or information collected may not be accessed, disclosed, altered or destroyed by breach of one or more of our safety measures. No Internet, electronic transmission or electronic storage of information is ever fully secure or error free. Therefore, you should take special care in deciding what information you send to us. Please keep these risks in mind when disclosing Personal Data (as defined below) to us.

In this Policy, “you” and “your” refers to users of Parallel’s Site and Services, including individuals, entities, representatives and agents. If you have questions or complaints regarding our privacy policy or practices, please contact us at help@parallelmarkets.com.

We collect information about you in a number of ways, including information you give us, information we get from others and information that is automatically collected.

Information We Collect From You

We may collect, among other things, your name, postal address, email address, phone number, username, password, demographic information, your occupation status and title, social security number, tax id number, various tax forms, bank account information and other information you directly give us. We distinguish between (i) data and information that does not individually identify you but may include tracking and usage information about your general location, demographics or use of one of our products (“Non-Personally Identifiable Information”) and (ii) data that can be used to contact, locate or identify you specifically, either by itself or when combined with other sources that are easily accessed (“Personally Identifiable Information” and, together with Non-Personally Identifiable Information, “Personal Data”). By submitting or making available Personal Data through our Services, you agree to the terms of this Policy and you expressly consent to the processing of Personal Data in accordance with this Policy. We do not intentionally gather or process Personal Data about individuals who are under the age of 18. If we inadvertently hold or have access to Personal Data about anyone under 18, please let us know so we can delete it. For customers who have paid for software services, we collect your billing details such as credit card information, banking information, and/or billing address.

Information We Collect From Others

We may receive Personal Data about you from other sources like online investing platforms, your employer or other third party vendors in connection with our Services (our “Partner Companies). Our Partner Companies may supply us with Personal Data, including items such as your name, email, mailing address information, accreditation status (including supporting documentation such as tax or other documentation), securities holdings information (including subscription documentation) and your login credentials for such Partner Company’s website or service, in order to help us provide the Services. We may add this information to the information we have already collected, or will in the future collect, from you in order to perform and improve the Services. In addition, as a side effect of our processing of Personal Data generally through the Services, we may receive further Personal Data regarding you from various information service providers utilized by the Services.

Information We Collect Automatically

Finally, we collect information from you, which may include Personal Data, when devices access our Site and Services. Some examples of the information we collect include: type of device, geographic location, IP address, domain name, what operating system is used, application information, unique devices, crash data and date/time stamps for your visit. The type of information we collect depends on the type of device used and its settings. We may automatically log information about you and your computer. For example, when visiting our Site, we log, among other things, your computer operating system type, browser type, browser language, pages you viewed, how long you spent on a page, location, access times and information about your use of and actions on our Site. We may also use industry standard identifiers and trackers (including cookies and their equivalents) (“Identifiers”) and navigational data like Uniform Resource Locators (URL) to gather information about you and your activity.

How We Use the Information We Collect

We use your Personal Data and other information we collect (collectively, the “Data Set“)in a number of ways. A non-extensive list of the ways we may use the Data Set is as follows:

  • We use the Data Set to operate, maintain, and improve the website, products, and services. This includes use of other information to support delivery of the Services, assist with service request, monitor for errors, remedy security or technical issues, analyze website and application performances.
  • We use the Data Set to respond to comments and questions, verify permission access, and provide customer service.
  • We use the Data Set to setup your user account, correspond with you, and otherwise enable and facilitate your usage of our services.
  • We use the Data Set to help you agree to, close, and otherwise participate in securities transactions.
  • We use the Data Set to assure us, and parties to transactions, of the valid issuance, ownership, vesting status, transferability, and other attributes of securities issued by third party private companies.
  • We use the Data Set to verify your identity, your status as an accredited investor or qualified purchaser, if applicable, process diligence checks, and establish your eligibility and suitability for being a member of our community.
  • We use the Data Set to facilitate your and our compliance with various laws, regulations, and industry oversight pertaining among other things to banking, financial information, securities transactions, money laundering, terrorism, and “know your customer” rules promulgated, among other things, by the U.S. Securities Exchange Commission and the Financial Industry Regulatory Authority.
  • We use the Data Set to protect against fraud, site misuse, privacy and security breaches, securities and other legal violations, and to fulfill and enforce agreements reached with you and others.
  • We use the Data Set to send information including confirmations, invoices and billing, technical notices, updates, security alerts, and administrative messages.
  • We use the Data Set to communicate system updates, upcoming events, and other news about products and services offered by us. We may contact you to inform you about important services-related notices, such as privacy and policy update notices or changes in our terms of service. These communications are strictly necessary and you may not opt out of them.
  • We use the Data Set to link or combine user information with other personal information. An example is when we combine the information a company has provided about their shareholders with the information entered by shareholders in their personal portfolios to improve the user experience.
  • We use the Data Set to protect, investigate, and deter against fraudulent, unauthorized, or illegal activity.
  • We use the Data Set to provide and deliver products and service customer requests. An example is when an employee exercises their stock options and we may provide a tax form to the company for their IRS reporting requirements.

In addition, we share your Personal Data in a number of ways. As a general rule, we do not share Personally Identifiable Information without your express consent (reserving all rights to share in the circumstances outlined below). We do, however, share aggregated information or anonymous Identifiers with various third parties at our sole discretion. A non-exhaustive list of the ways we may share your Personal Data is as follows:

  • We may share Personal Data when authorized by you, such as communicating your accreditation status and relevant documentation.
  • We may share Personal Data in compliance with any applicable law.
  • We may share Personal Data when we do or negotiate a business deal involving the sale or transfer of all or a part of our business or assets. These deals can include any merger, acquisition or bankruptcy transaction or proceeding. Any such successor or purchaser (or recipient of information during negotiation or due diligence) will be required to comply with reasonable confidentiality restrictions with respect to Personal Data.
  • We may share Personal Data for legal, protection, information security and safety purposes. Examples include enforcing contracts or policies, reporting on security breaches or assisting with investigating and preventing fraud or security issues.
  • We may share Personal Data to facilitate and document your participation or lack thereof in securities transactions, including with your employer or any broker dealer or other third party assisting with the transaction.
  • We may share customer and user access on the customer’s account. Equity administrators for the customer, authorized users and other designated representatives may be able to add, modify or restrict access. An example is the company administrator designates a legal administrator to issue new securities on behalf of the company.
  • We may share Personal Data to comply with laws and regulatory requests. Examples include responding to lawful requests and legal or regulatory processes.
  • We may share Personal Data to protect the rights and property of Parallel, our agents, customers, and others. This includes enforcing our agreements, policies, and terms of use.
  • We may share Personal Data with those who need it to do work for us. An example is granting a Parallel employee or affiliate the necessary access in order to perform his/her duties.
  • We may share aggregated or anonymized data in any manner that we deem desirable. We may disclose or use aggregated or anonymized data for any purpose, including to analyze customer traffic, optimize content and advertisements, track conversions and remarket to persons who have taken certain actions. An example would be for highlighting relevant new deals from Partner Companies for you.
  • We may use Identifiers to remember that you have visited our Site before (meaning we can identify the number of unique visitors we receive), customize elements of any promotional layout and/or content of the pages of the Site and Services and collect anonymous statistical data about how you use the Services (including time spent on the Site) and where you have come to the Site from, so that we can improve the Site and our Services and learn which parts of the Sites and Services are most popular with our users.
  • We may also use Identifiers, or allow our Partner Companies to use Identifiers, to monitor conversion rates, click-through rates and similar anonymized user information.
  • We may strip Personally Identifiable Information from data that renders the information personally identifiable (“Anonymous Data”). We use this Anonymous Data to analyze request and usage patterns so that we may enhance the content and functionality of our Site and Services. We also may use this data for the benefit of third parties in our sole discretion.
  • We will not share Personal Data with investors of the Company beyond any Personal Data that such investors are entitled to for customary legitimate business purposes.
  • We may share Personal Data with third parties when we have consent to do so. We may engage third party companies or individuals as service providers to process information and support our services. An example would be cloud services for data center colocation and storage services.
  • Customers may authorize access to customer data to third parties. An example is when a company grants their lawyers access for 506(c) diligence requirements.
  • When you indicate an interest in a transaction, we provide information about your availability and offers, in anonymized form except as described below, unless you agree otherwise.
  • If you contemplate entering into a transaction, we provide information necessary to complete, service, and enforce the terms of that particular transaction, potentially to intermediate entities such as funds and “special purpose vehicles”, as well as the organizers, managers, and fund advisers of these entities.
  • We share Personal Data with third party data providers such as identity verification services, in order for them to provide their services.
  • We affiliate with service providers who help us with security, fraud prevention, marketing technology, information technology, site analytics, site maintenance, software development, electronic signatures and other Site and service features, provided that all such parties will be under confidentiality duties to protect and not share any Personal Data we give them.
  • We share Personal Data as needed with our own service providers such as our accountants, lawyers, auditors, information technology staff, payment providers, financial institutions, and advisors.
  • We may create, acquire, or otherwise partner with parent, subsidiary, or affiliate business entities, trusts, or other business entities for purposes of offering Services. These entities may use Personal Data under and consistent with the terms of this Policy.
  • Although we sometimes refer to third party affiliates as “we” or part of the Services, please be aware that some of these entities are not under common ownership with, or controlled by, Parallel. All securities transactions (including any solicitation, engagement, brokering, closing, and clearing Transactions) are handled by affiliated or other broker-dealers. Further, per the terms of the transactions and other agreements you may enter into, Parallel may setup or contract with third parties to service, pool, and otherwise manage the securities that are the subject of the Transactions.

This Policy applies to the use and disclosure of Personal Data that we collect in any manner from you, your representatives, your agents or third parties. Our provision of a link to any other website or location is for your convenience and does not signify our endorsement of such other website or location or its contents. When you click on such a link, you will leave the Services or our Site and go to another site. During this process, a third party may collect Personal Data from you. We have no control over, do not review, and cannot be responsible for, these outside websites or their content. Please be aware that the terms of this Policy do not apply to these outside websites or content, or to any collection of data after you click on a link to a third party. If you submit personal information to any of those sites, your information is governed by their privacy policies. We encourage you to carefully read the privacy policy of any website you visit.

We welcome your comments or questions about this Privacy Policy. You may also contact us at help@parallelmarkets.com. We may change this privacy policy. If we make any substantive changes related to how we collect or use data, we will change the content last updated date below.

Content last updated: October 14th, 2019.