In accordance with the Data Protection(Bailiwick of Guernsey) Law, 2017, as amended (the "Data Protection Law"), MagnetiseChoices Ltd (the "Company"), being the data controller for the purposes of the Data Protection Law, must provide you with information on how the personal data that you provide to the Company will be in processed by us.
This Privacy Notice sets out how personal data is collected, processed and disclosed in connection with the Company. Your personal information may be provided to the Company and/or New Street ManagementLimited (the"Administrator"). The Company and (to the extent that it processes your personal data to comply with regulatory requirements) the Administrator, will act as independent data controllers. The Company or the Administrator may process your personal information or such data in respect of your directors, officers, employees or beneficial owners.
As each of the Company and the Administrator are entities incorporated in Guernsey, they are obliged to comply with the provisions of the Guernsey Data Protection Law. They may also be subject to data protection laws in other jurisdictions.
This Privacy Notice is issued by the Company. The Administrator’s data privacy protection notice can be viewed at www.nsmtrust.com/privacy-statement.
1. Contact details
- 1.1 The Company can be contacted via the Administrator at the following address:
- PO Box 20
Les Echelons Court
St Peter Port
2. WHere the Company Obtains Your Personal Data
- 2.1 Your personal data comprises the following categories:
- information obtained from identification documentation (including name, contact details, nationality and national identity numbers (where applicable));
- employment history, income and personal wealth;
- tax status and tax identification numbers; and
- bank account details.
- 2.2 The Company may also collect, store and use the following "special categories" of more sensitive personal information:
- 2.3 The Company primarily collects your personal data from the following sources:
from information which you or your authorized representative gives to the Company, including but not limited to:
- such forms and documents as the Company may request that are completed in relation to the Company or any administration / management of any investment in the Company;
- client due diligence documentation as part of regulatory requirements applicable to the Company; and
- any personal data provided by you by way of correspondence with the Company by phone, e-mail or otherwise;
personal data the Company receive from you or any third party sources which may include:
- entities in which you or someone connected to you has an interest;
- your legal and/or financial advisors;
- other financial institutions who hold and process your personal data to satisfy their own regulatory requirements;
- credit reference agencies and financial crime databases for the purposes of complying with regulatory requirements applicable to the Company; and
- including information collected via website (including cookies and IP addresses), emails (e.g. traffic headers for analysing patterns of network traffic and managing client relationships).
- 2.4 The Company may also collect and process your personal data in the course of dealing with advisors, regulators, official authorities and service providers by whom you are employed or engaged or for whom you act.
- 2.5 Please let the Company know if any of your personal data (including correspondence details) changes as soon as possible. Failure to provide accurate information or to update changed information may have a detrimental impact upon your investment, including the processing of any subscription or redemption instructions or the suspension of your account.Failure to provide information where the same is required for anti-money laundering, pursuant to automatic exchange of information agreements, or other legal requirements means that the Company may not, or may no longer, be able to accept you as a shareholder.
3. Purposes of processing and legal basis for processing
- 3.1 The personal data collected from you or provided by you, or on your behalf may be processed by the Company (or any of their affiliates, agents, employees, delegates or sub-contractors) for the following purposes):
- To register you as a new customer.
- To process and deliver your order.
- To manage your relationship with us.
- To enable you to participate in a prize draw, competition or complete a survey.
- To improve our website, products/services, marketing or customer relationships.
- To recommend products or services which may be of interest to you.
- EMPLOYEES AND / OR DIRECTORS
- Making a decision about your recruitment or appointment including reviewing any CVs and any application forms.
- Determining the terms on which you work for us.
- Checking you are legally entitled to work in Guernsey.
- Paying you and, if you are an employee or deemed employee for tax purposes, deducting tax and Social Security contributions.
- Providing any benefits to you (where applicable).
- Inviting you to participate in any share plans operated by us or any group company.
- Granting awards under any share plans operated by us or any group company.
- Enrolling you in a pension arrangement.
- Liaising with the trustees or managers of a pension arrangement operated by us.
- Administering the contract we have entered into with you.
- Business management and planning, including accounting and auditing.
- Conducting performance reviews, managing performance and determining performance requirements.
- Making decisions about salary reviews and compensation.
- Assessing qualifications for a particular job or task, including decisions about promotions.
- Gathering evidence for possible grievance or disciplinary hearings.
- Making decisions about your continued employment or engagement.
- Making arrangements for the termination of our working relationship.
- Education, training and development requirements.
- Dealing with legal disputes involving you, or other employees, workers and contractors, including accidents at work.
- Ascertaining your fitness to work.
- Managing sickness absence.
- Complying with health and safety obligations.
- To prevent fraud.
- To monitor your use of our information and communication systems to ensure compliance with any of our IT policies.
- To ensure network and information security, including preventing unauthorised access to our computer and electronic communications systems and preventing malicious software distribution.
- To conduct data analytics studies to review and better understand employee retention and attrition rates.
- SPECIAL CATEGORIES OF DATA (EMPLOYEES AND DIRECTORS ONLY)
In general, the Company will not process particularly sensitive personal information about you unless it is necessary for performing or exercising obligations or rights in connection with employment. On rare occasions, there may be other reasons for processing, such as it is in the public interest to do so. The situations in which we may be required to process your particularly sensitive personal information are listed below.
We will use information about your physical or mental health, or disability status, to:
- ensure your health and safety in the workplace;
- assess your fitness to work;
- provide appropriate workplace adjustments;
- monitor and manage sickness absence; and
- administer employment-related benefits
We need to process this information to exercise rights and perform obligations in connection with your employment.
If you leave employment and under any share plan operated by us or any group company the reason for leaving is determined to be ill health, injury or disability, we will use information about your physical or mental health, or disability status, in reaching a decision about your entitlements under the share plan.
If you apply for an ill-health pension under a pension arrangement operated by us or any group company, we will use information about your physical or mental health in reaching a decision about your entitlement.
If we reasonably believe that you or another person are at risk of harm and the processing is necessary to protect you or them from physical, mental or emotional harm or to protect physical, mental or emotional well-being.
We will use information about your race or national or ethnic origin, religious, philosophical or moral beliefs, or your sexual life or sexual orientation to ensure meaningful equal opportunity monitoring and reporting.
We will use trade union membership information to pay trade union premiums, register the status of a protected employee and to comply with employment law obligations.
4. Compliance with a legal obligation:
- 4.1 in order to carry out anti-money laundering checks and related actions which the Company considers appropriate to meet any legal obligations imposed on the Company relating to the prevention of fraud, money laundering, terrorist financing, bribery, corruption, tax evasion and to prevent the provision of financial and other services to persons who may be subject to economic or trade sanctions, on an on-going basis, in accordance with the Company's anti-money laundering procedures, which may include the processing of criminal data and to report tax related information to tax authorities in order to comply with a legal obligation;
- 4.2 Pursuing the legitimate interests of the Company, including:
- in relation to the prevention of fraud, money laundering, terrorist financing, bribery, corruption, tax evasion and to prevent the provision of financial and other services to persons who may be subject to economic or trade sanctions, on an on-going basis, in accordance with the Company's anti-money laundering procedures;
- carrying out statistical analysis and market research;
recording, maintaining, storing and using recordings of telephone calls that you make to and receive from the Company and their delegates or duly appointed agents and any of their respective related, associated or affiliated companies for:
- processing and verification of instructions;
- investigation and fraud prevention purposes;
- for crime detection, prevention, investigation and prosecution;
- to enforce or defend the Company and their affiliates', themselves or through third parties to whom they delegate such responsibilities or rights in order to comply with any legal obligation imposed on the Company; or
- to pursue the Company's legitimate interests in relation to such matters.
where the processing is in the public interest;
- to monitor and record calls for quality, business analysis, training and related purposes in order to pursue the legitimate interests of the Company and/or the Administrator (as applicable) to improve their service delivery;
- to disclose information to other third parties such as service providers of the Company and/or the Administrator (as applicable), auditors, regulatory authorities and technology providers; and
- to retain anti-money laundering and other records of individuals to assist with the subsequent screening of them by the Administrator including in relation to other funds or clients of the Administrator in pursuance of the Administrator's and its clients' legitimate interests.
- 4.3 Please note that where personal data is processed for purposes of legitimate interests, you have a right to object to such processing and the Company will no longer process the personal data unless the Company can demonstrate compelling legitimate grounds for the processing which override your interests, rights and freedoms or for the establishment, exercise or defence of legal claims.
4.4 The Company will only use your personal information for the purposes for which it was collected unless the Company reasonably considers that it needs to use it for another reason and that reason is compatible with the original purpose. If the Company need to use your personal information for an unrelated purpose, the Company will notify you and will explain the legal basis which allows the Company to do so. Please note that the Company may process your personal information without your knowledge or consent, in compliance with the above rules, where these are required or permitted by law.
4.5 To the extent that such personal data contains special category data such as, for example: data relating to racial or ethnic origin, political opinion, religious or philosophical belief, trade union membership or criminal data then the processing of such data shall solely be for the purpose of complying with any duty imposed on the Company by an enactment including, but not limited to, legislation and regulatory obligations relating to Anti- Money Laundering and Combatting the Financing of Terrorism and all other related legislation.
4.6 The Company does not make decisions about you based on automated processing of your personal data.
- 5.1 Where the Company has asked for consent from you to use personal information about you for the purposes described in this Privacy Notice, you have the right to withdraw your consent at any time by contacting the Administrator at the address above.
6. Direct Marketing
- 6.1 From time to time, the Company may send you information about other products and services that they offer by letter, telephone, email or by other reasonable means of communication. The Company) shall only send such marketing communications to you to the extent that doing so is in the legitimate business interests of the Company or where you have consented to them doing so. You may withdraw that consent at any time by contacting the Company c/o the Administrator at the address above.
7. Profiling and Screening
- 7.1 The Company and their appointed data processors engage in politically exposed person screening for the purposes of complying with anti-money laundering and counter terrorist financing legislation and with UN, EU and other applicable sanctions regimes. Personal information about you may be used to complete such screening checks.
8. Disclosures to Data Processors and/or Third Parties
- 8.1 The Company may disclose your personal information as follows:
- to its service providers, including the Administrator and their affiliates, and other third party service providers engaged by the Company and/or the Administrator (as applicable) in order to process the data for the above mentioned purposes. These data processors will handle your information in accordance with applicable Data Protection Law. These data processors may, in turn, process your personal data abroad and may have to disclose it to foreign authorities to help them in their fight against crime and terrorism; and
- to competent authorities (including tax authorities), courts and bodies as required by law or requested or to affiliates for internal investigations and reporting.
9. Transfers Abroad
- 9.1 The disclosure of personal information to the third parties set out above may involve the transfer of data to the USA and other jurisdictions outside the European Economic Area (EEA) and the Island of Guernsey in accordance with the requirements of the Data Protection Law. Such countries may not have the same data protection laws as your jurisdiction. If this occurs, the Company will put in place Standard Contractual Clauses with relevant parties to whom personal data will be transferred. Please contact the Company for copies of anyStandard Contractual Clauses that have been entered into on behalf of the Company. [RR1] [CH2] [RR1] Is there an intention to transfer data abroad? If not then I would suggest removing [CH2] I would prefer to keep this for flexibility
10. Retention period
- 10.1 The Company will retain your personal information for as long as required for the Company to perform investigations depending on whether additional legal/regulatory obligations mandate that theCompany retains your personal information.
11. Your data protection rights
- 11.1 Please note that you have the following right sunder the Data Protection Law in relation to your personal information. In each case, the exercise of these rights is subject to the provisions of the DataProtection Law:
- you have a right of access to and the right to amend and rectify your personal data;
- you have the right to have any incomplete personal data completed;
- you have a right to lodge a complaint with a supervisory authority, in particular in the EU Member State of your habitual residence, place of work or place of the alleged infringement, or to the Data Protection Authority in Guernsey (Tel +44 (0) 1481 742074 or at https://www.odpa.gg), if you consider that the processing of personal data relating to you carried out by the Company or the Administrator infringes the Data Protection Law;
- you have a right to request that your personal information is erased (in certain specific circumstances);
- you have a right to restrict processing (in certain specific circumstances);
- you have a right to data portability (in certain specific circumstances); and
- you also have the right to object to processing where personal data is being processed for marketing purposes and also where the Company is processing personal data for legitimate interests.
12. Failure to provide personal data
- 12.1 The provision by you of personal data, as outlined in the section above titled "Purposes of processing and legal basis for processing" is required for the Company and/or the Administrator (as applicable) to accept your subscription application and manage and administer your holdings in the Company and so that the Company can comply with the legal, regulatory and tax requirements referenced above. Where you fail to provide such personal data the Company will not be able to accept your application, or to the extent that they do accept your application and the required personal data is not provided within the specified timeframe, they maybe required to discontinue our business relationship with you.
13. Changes to this Privacy Notice
- 13.1 This Privacy Notice is dated 13 December 2022.
The Company reserves the right to amend this Privacy Notice at any time without notice, in which case the date will be revised.