The Stalirov&Co team has draw up Terms of Use and a Privacy Policy for SIA Simata, which is a platform with analytics and news about currency, stock and other securities markets
About company and product
SIA Simata is a Lithuanian company that has developed the automated platform for modeling currency and securities market analytics based on artificial intelligence and machine learning. Content on the platform is generated using AI/ML, data is parsed through an open API connection to the Binance and Kraken exchanges.
🔸 Explain to users the goals and functionality of the platform.
🔸Get the opportunity to collect and process personal data of users from the EU and the USA, conduct advertising campaigns and mailing lists.
🔸Fulfill the requirements for connecting payment systems.
🔸Draw up Terms of Use following the requirements of laws in the field of e-commerce in the EU and the USA.
🔸Add disclaimers and limit the SIA Simata liability to users for the results of applying recommendations on the platform, as the company publishes analytical information, but does not give guarantees for investments.
🔸Develop a Privacy Policy following GDPR requirements in the EU and CCPA in the USA.
Realization
IT lawyers defined the platform status
The platform is a private analytical web resource, is not registered as a securities broker/dealer, and is not approved by a government financial regulatory authority. The web resource provides data for the analysis of currency and securities market on a paid basis, and is intended for an audience of ordinary users, but not financial professionals. None of the information on the platform constitutes a recommendation for a particular investment or investment strategy.
Our team described platform services
The platform provides access to financial news, charts, comparative tools, articles, reports, comments, investment advice received from third-party sources through an open API connection.
The SIA Simata services do not include advising on potential, value or suitability of a particular share, other security, investment portfolio, transaction, investment strategy, cryptocurrency. A user cannot contact the platform to receive individual investment advice.
We warned a user about the responsibility and added a clause about the fulfillment of OFAC requirements
Users undertake to independently evaluate the legality of using the platform services, following the current legislation of the country where they are residents.
Sia Simata complies with the requirements of the Office of Foreign Assets Control (OFAC). Sia Simata services are only available in countries that are not on the OFAC sanctions lists. A user confirms that he is not a resident of such a country.
IT lawyers fixed the subscription payment periods, the procedure for conducting and returning payment
The subscription payment period lasts 1 month or 1 year, with automatic renewal for the same period. A user can cancel the subscription up to 48 hours before the end of the current one.
Payment is made by following methods:
◼non-cash using the Paddle or Stripe payment system;
◼crypto payment using the Coingate gateway.
Content on the platform, as part of a subscription, is a "digital good" and is non-refundable under EU law. If users suppose that the funds were withdrawn in error, they must contact SIA Simata within 48 hours of such withdrawal.
We protected the SIA Simata intellectual property rights
The platform, analytics, reports and content are the exclusive property of SIA Simata or its licensors and third party information sources. A user may reproduce, distribute, display or transmit content of the platform for non-commercial purposes, free of charge. All provided content must include copyright and other proprietary rights notices, when a user shares it.
We warned that SIA Simata may suspend or freeze an user’s account
If SIA Simata, in its sole discretion and the objectivity of the data, supposes that a user account has been involved in fraud, crime or violation of laws or regulations, or has been illegally accessed, or the account is involved in other suspicious activity, the company may suspend or freeze account or any account privileges.
IT lawyers added the list of disclaimers about results of applying recommendations and analytics posted on the platform
◼SIA Simata makes no guarantees regarding the services, including guarantees of information suitability.
◼SIA Simata is not responsible for users’ decisions, losses or damage caused by the fact that they are relied on the information on the web resource.
◼SIA Simata does not guarantee the availability of the platform and that the web resource will always be free from destructive or defective elements.
◼SIA Simata does not guarantee that users will be able to access the services at any time and in any place.
IT lawyers implement a disclaimer about external links and advertising integrations
The platform may contain links to other websites and third parties’ advertisements. SIA Simata does not control such websites and is not responsible for their availability or content. Third party websites may place their own cookies on users' devices, collect data or solicit personal information from them. SIA Simata encourages users to read the Privacy Policy of these websites they visit by clicking on links.
We set types of personal data and the ways they are collected by platform
SIA Simata collects data during registration, during advertising campaigns the preparation and analytics through Google ADS, Google Analytics, Facebook ADS, Facebook Analytics.
Users' personal data includes: first name, last name, email, address, IP address, device and browser type information, URL address of the website from which a user visited the platform.
We warned about Cookies
SIA Simata uses Cookies to improve and simplify the interaction of users with the platform, namely to save settings that users have chosen, such as language or to remember preferences. Users decide to accept Cookies or not, in whole or in part. They may block or delete Cookies, but in this case, the use of some functions of the platform may be limited.
IT lawyers obtained permission from users to use their personal data for mailing lists and promotional offers
