Contents of this Privacy Policy:
1 WHO WE
ARE AND HOW TO CONTACT US
2 WHAT
KINDS OF PERSONAL INFORMATION ABOUT YOU DO WE PROCESS?
3 WHAT IS
THE SOURCE OF YOUR PERSONAL INFORMATION AND IS PROVIDING IT VOLUNTARY?
4 WHAT
ARE THE LEGAL GROUNDS FOR OUR PROCESSING OF YOUR PERSONAL INFORMATION
(INCLUDING WHEN WE SHARE IT WITH OTHERS)?
4.1
Processing necessary to perform our contract with you
4.2
Processing necessary to comply with our legal obligations
4.3
Where processing necessary for our legitimate interests
4.4
Processing with your consent
5 HOW AND
WHEN CAN YOU WITHDRAW YOUR CONSENT?
6 WILL WE
SHARE YOUR PERSONAL INFORMATION WITH THIRD PARTIES?
7 IS YOUR
PERSONAL INFORMATION TRANSFERRED OUTSIDE OF THE UK?
8 WHAT
SHOULD YOU DO IF YOUR PERSONAL INFORMATION CHANGES?
9 DO WE
DO ANY MONITORING INVOLVE THE PROCESSING OF YOUR PERSONAL INFORMATION?
10 PROFILING
AND OTHER AUTOMATED DECISION MAKING
11 HOW LONG
IS YOUR PERSONAL INFORMATION RETAINED BY US?
12 WHAT ARE
YOUR RIGHTS UNDER DATA PROTECTION LAWS?
12.1
The right to be informed about your processing of your personal information;
12.2 The right to have your
personal information corrected if it is inaccurate and to have incomplete
personal information completed;
12.3
The right to object to processing of your personal information;
12.4
The right to restrict processing of your personal information;
2.5
The right to have your personal information erased (the ‘right to be
forgotten’);
12.6 The right to request access
to your personal information and to obtain information about how we process it;
12.7 The right to move, copy or transfer
a copy of the personal information you have provided us with (‘data
portability’);
12.8 Rights in relation to
automated decision making which has a legal effect or otherwise significantly
affects you.
13 DATA ANONYMISATION AND USE OF AGGREGATED INFORMATION
14 FUTURE CHANGES TO THIS PRIVACY NOTICE
15 OUR CONTACT INFORMATION
1.
Who we are and how to contact us
DJWM LTD of 62 Cyprus Avenue, London N3 1SR is a data
controller of your personal information. Personal information is information
about you or from which we can identify you. This privacy notice describes how
we deal with your personal information. We are the data controller of this
information under relevant data protection laws because in the context of our
business relationship with you we decide how and why it is processed in the
ways explained in this privacy notice.
If you have queries about this
privacy notice or wish to exercise any of the rights mentioned in it, please
contact us on the contact details at the bottom of this Privacy Notice.
This privacy notice may be
updated from time to time. You will be able to review the most up to date
version of this privacy notice online using the following link http://www.invfit.co.uk/privacy-policy/. Where necessary, we will also send you an updated
copy of the privacy notice.
2. What kind of personal
information about you do we process?
We
have set out below a description of the types of personal information about you
which we will process when you become a client of ours, or during the course of
our corresponding with you (both when you are our client, or where you have
expressed interest in becoming a client, but have not yet become one).
Below is a description of the
different types of personal information that we will collect and process about
you in different circumstances.
2.1 Personal information that
we generally process regardless of how you contact us, or for what reason,
includes:
2.1.1
your title, full name, your contact details, including for instance your email
address, home and mobile telephone numbers; and/or
2.1.2
your home address, correspondence address (where different from your home
address) and address history (usually only for current clients, or for new
clients for identification, anti-money laundering, anti-fraud and credit
reference agency checks);
2.2 If you submit an
application to become a client, in the process of becoming a client or are
already a client of ours, in addition to the above personal information, we
will collect the following from you:
2.2.1 your date and place of birth and/or age;
2.2.2
financial information, including your bank account information, the amount you
are looking to invest, your total wealth, your investment objectives, income
and employment status and any monthly payments you may be making, your
investment selection(s) and how you would like income from your investment to
be paid, reinvested/accumulated;
2.2.3
proof of identification in the form of copies of your passport, driving licence
or other identity documents like utilities bills;
2.2.4 your tax residency and/or nationality;
2.2.5 information around any financial dependants you
may have;
2.2.6 information around any assets and liabilities you
have;
2.2.7 information regarding the source/acquisition of
your wealth;
2.2.8 detailed information around your experience and
knowledge of investments;
2.2.9 information around your capacity for loss and
your attitude to risk;
2.2.10
personal information and contact information which you provide in
correspondence with us, whether by email, written letter, or telephone call or
through our online enquiry system or attendance notes of meetings or calls
(this will be information volunteered by you, it could include the reasons why
you have decided to invest, or where your investment money has come from, by
way of example); and/or
2.2.11 information relating to your use of our service;
2.3 In addition to the above,
we collect the following information from you when required:
2.3.1
for anti-money laundering, identity verification and negative news screening
and the information returned to us from the organisations tasked with
performing those checks (further information is provided below relevant to such
checks);
2.3.2
where you have an online account with us, such information that is used to
secure your online account, the answers to security verification questions,
your username and password
2.3.3
where you have tax reporting duties in other jurisdictions for which we are
responsible, for example the United States of America, we collect information
to allow us to carry out this reporting and/or
2.3.4
we provide a number of ancillary services which you may request we provide to
you, an example being producing a Capital Gains Tax report, these services may
require further information from you.
2.4 In addition to the above,
depending on how you engage with us, whether it be through our website, or by
visiting our office, we may also collect the following information:
2.4.1 if you visit our office, we may collect your
physical image through use of CCTV cameras;
2.4.2 if you visit our website, we may collect your IP
address and/or use cookies to gather further information about your use of our
site. Further information about our use of Cookies is contained in our Cookies
Policy at www.invfit.co.uk/cookies-policy/
3. What is the source of
your personal information and is providing it voluntary?
We will generally collect your
personal information from you directly through discussions and taking notes,
our application forms, or in your correspondence with us. In addition, where
you are a client of ours, or are looking to become a client of ours, we may
also obtain personal information about you from other sources such as
organisations which we use to perform anti-money laundering identity
verification and negative news screening. Other instances where we will not
receive the information directly from you include where you have been
introduced to us via your third party financial intermediary who acts on your
behalf or where you have been introduced to us by a third party introducer, or
where we have obtained your information from marketing lists which we can
lawfully use.
Some
of the personal information obtained from the above organisations will have
originated from publicly accessible sources.
As
you will appreciate, we are required to collect some personal information by
law and regulation. For example, we are required to verify your identity before
we can approve any client applications. Providing this information is not
voluntary and if you do not provide this personal information, we will not be
able to register you as a client of ours.
In
other cases, we need the information in order to provide our services to you.
For example, if you request a payment to be made from your investment account
to your bank account, we need your bank account information in order to do so.
Again, if you do not provide this information to us, we will not be able to
provide that service to you, so this information is mandatory.
Where you choose not to provide
us voluntary personal information this may reduce the quality or type of
service we are able to provide (for example, without providing your e-mail
address, we may only be able to contact you by postal mail so our correspondence
with you will be slower).
4. What are the legal
grounds for our processing of your personal information (including when we
share it with others)?
Data
protection laws require us to explain what legal grounds justify our processing
of your personal information (this includes sharing it with other
organisations). For some processing more than one legal ground will be
relevant. We mainly use the personal information we hold about you where it is
necessary for us to perform our contract with you and to enable us to comply
with legal obligations. Your personal information will also be used, where
necessary, to pursue our own (and sometimes other third parties’) legitimate
interests, provided that when we do, your own interests and fundamental rights
do not override those legitimate interests. Additionally, we can also use your
personal information with your consent.
Each of the above mentioned
categories or reasons for processing your personal information is commonly
known as a ‘legal basis’ which justifies the processing of your personal
information in accordance with data protection law. However, we appreciate that
the categories themselves do not provide you with a clear understanding of what
that actually means. As such, we have provided further information below about
what we will do with your personal information as it relates to each of these
legal basis.
4.1 Processing necessary to
perform our contract with you
This purpose includes such
processing as is necessary for us to undertake when you become a client of
ours. It will also include processing that is undertaken prior to you becoming
a client of ours, but which processing is necessary for us to enter into our
agreement with you (i.e. during the application stage). The processing will
include processing:
4.1.1
to communicate with you about your investment(s), product or service (e.g.
periodic statements);
4.1.2 to enable us to open an account for you with us;
4.1.3 to enable us to process the subscription or
redemption of your investment or withdrawal;
4.1.4 to enable payments to be made or currency to be
converted for you;
4.1.5 to evidence your ownership of an investment;
4.1.6 to verify that your instructions are genuine and
to process them accordingly;
4.1.7 to inform you about the performance of your
investment(s);
4.1.8
to notify you about changes to your investment(s) (such as a change of name, or
amendments to the investment policy of a fund);
4.1.9
where applicable, to allow you to exercise rights in relation to your
investment(s) (such as voting rights);
4.1.10
to recover any amount owed to us or a third party whose services are linked to
the service we provide to you;
4.1.11 to investigate and deal with complaints or
disputes;
4.1.12
to transfer your personal information to any third party who replaces DJWM LTD
as a provider of services to you; and/or
4.1.13
to share your personal information with third parties if required for, or would
assist, the management of your product or service.
4.2 Processing necessary to
comply with our legal obligations
There are a number of laws and
regulations which we are required to comply with when we provide our services
to you, as well as for our general daily operations. Some of these obligations
will result in the processing of your personal information. Specifically, this
will include processing:
4.2.1
to verify your identity and to carry out regulatory checks (such as anti-money
laundering and identity verification checks);
4.2.2
where applicable, to comply with regulatory rules to ensure our services
provided to you are suitable and/or appropriate;
4.2.3
to enable a register of investors to be maintained;
4.2.4 to contact you with notices about your
investments;
4.2.5 to detect, prevent and/or investigate fraud,
money laundering and other financial crimes;
4.2.6 to comply with audit requests from our auditor;
4.2.7 to combat late trading and market timing
practices;
4.2.8 to ensure you are eligible for a product (such as
an ISA);
4.2.9
to comply with requests made by you when exercising your legal rights (such as
those contained within this Privacy Notice or our Terms of Business);
4.2.10 recording incoming and outgoing calls for
regulatory purposes;
4.2.11
to carry out monitoring of trades and transactions for continued compliance
with our regulatory obligations (such as anti-money laundering) and to keep
records of the transactions we’ve undertaken;
4.2.12
for establishment, defence and enforcement of our legal rights;
4.2.13
when, to achieve the above purposes, we share your personal information with
the following categories of individuals or organisations:
4.2.13.1
law enforcement agencies and governmental and regulatory bodies such as tax
authorities, financial regulators/ombudsmen and non-financial regulators
(depending on the circumstances of the sharing); and/or
4.2.13.2
courts and to other organisations where it is necessary for the administration
of justice, to protect vital interests and to protect the security or integrity
of our business operations;
4.2.13.3
third parties who assist us with carrying out anti-money laundering, identity
verification and negative news screening, and such other professional service
providers who we use to assist us to comply with these obligations (such as
lawyers, accountants, auditors, consultants and other similar professionals);
and
4.2.13.4 third parties to whom we owe a legal
obligation to provide specified information.
4.3 Where processing is
necessary for our legitimate interests
This will include processing
which, on balance, we consider is in our legitimate interests and which do not
cause you undue prejudice. Our legitimate interests are:
4.3.1
recording incoming and outgoing calls for training, monitoring, and security
purposes, as well as to keep an accurate record of any instructions received
from you in relation to your investments (this would be relevant where calls
are not legally required to be recorded, but where we will record them anyways
for the purposes listed above);
4.3.2
administering and managing your investment account(s) and services relating to
that, including, where necessary, updating your records and taking steps to
update your contact address so we can contact you about your account;
4.3.3
testing the performance of our products, services and investments to ensure
that we are managing our clients, and your investments, to their best
potential;
4.3.4
to adhere to guidance and best practice under the regimes of governmental and
regulatory bodies such as tax authorities, financial regulators/ombudsmen and
non-financial regulators;
4.3.5
for management and audit of our business operations including accounting. This
includes allowing other entities to conduct audits into our processes;
4.3.6
to determine the target market for our existing and future products (e.g.
determining whether a product is meeting the needs of investors generally);
4.3.7
to contact you when we have updated this Privacy Notice and consider that it is
necessary to advise you about any changes to the way we are processing your
personal information;
4.3.8
for marketing communications (where it is lawful for us to do so and where you
have not objected to the use of our personal information for these purposes);
4.3.9
for some of our profiling, in particular where this does not have a legal
effect or otherwise significantly affects you, which is done to provide you
with options and a better understanding of your risk and cash flow profile
(discussed further below);
4.3.10
when, to achieve the above purposes, we share your personal information with
the following categories of individuals or organisations:
4.3.10.1 our
legal and other professional advisers, auditors;
4.3.10.2 governmental
and regulatory bodies such as tax authorities, financial regulators/ombudsmen and non-financial
regulators (depending on the circumstances of the sharing);
4.3.10.3 tax
authorities who are overseas for instance if you are subject to tax in a
different jurisdiction, we may share your personal information directly with
relevant tax authorities (instead of through the local authority);
4.3.10.4 other
organisations and businesses who provide services to us under contract such as
debt recovery agencies, back up and server hosting providers, IT software and
maintenance providers, document storage providers and suppliers of other back
office functions;
4.3.10.5 buyers
and their professional representatives as part of any restructuring or sale of
our business or assets;
4.3.10.6
third parties who we use to assist with identity verification checks; and/or
4.3.10.7 market
research organisations who help us to develop and improve our products and
services.
(Should
you have any questions about the above listed categories of people and/or
organisations, please contact us using the contact information provided in this
Privacy Notice.)
4.4 Processing with your
consent
Unlike the uses described
above, sometimes we rely on your consent to use your personal information. We
will rely on your consent:
4.4.1
when you request that we share your personal information with someone else and
consent to that (for example if you engage the services of a professional
adviser after you have become a client of ours and request that we provide
information about your account to that professional adviser);
4.4.2
where you have opted-in to receiving marketing communications (and have not
subsequently opted-out or requested to be removed from any marketing list –
which you can do by contacting us as set out below); and/or
4.4.3
when you volunteer information to us in correspondence or during meetings where
a attendance note is taken (for example if you provide a reason why you are
cashing out a particular investment or why you are moving away from your
existing adviser).
There
may be other instances where we use consent to process your personal data and
special category personal data. If we do, we will provide you with further
information about the purposes of the processing at the time we ask for your
consent.
5. How and when can you withdraw your consent?
You
have the right to withdraw your consent at any time by contacting us using the
contact information provided below. If you do withdraw your consent, this will
mean that we will stop similar future processing. However, the withdrawal of
your consent will not invalidate any processing which we previously undertook
before you withdrew your consent.
Please note, where we rely on
another lawful reason to process your personal information, withdrawing your
consent will not affect that processing (such as where the processing is
necessary for our performing our contract with you, or where we must process
your personal information to comply with law, as described above) and we will
continue to process your personal information for those purposes
notwithstanding the fact that you have withdrawn your consent for one of the
above listed purposes.
6. Will we share your
personal information with third parties?
Yes,
we will share your personal information with third parties. There are times
when we are either mandated by law to disclose your personal information to
third parties (such as tax authorities), additionally, we contract third
parties to help us run our business and where we do so, we will also disclose
your personal information to those third parties. Where we contract third
parties to assist us to provide our services, we will always do so subject to
appropriate contracts and safeguards being put in place.
We
will never sell, rent or trade your personal information to an outside company.
We will share your personal
information with others who have a duty to keep it secure and confidential, and
where we have a lawful reason for doing so, as explained in section 4 above. The
categories of organisations that we will share your information with are:
- our service providers, agents and
sub-contractors who assist us to provide our services and process information
on our behalf, such as where we engage with a third party to run the day to day
business of our offices, IT and communications service providers, customer
records management providers (who assist us in managing customer records);
financial modelling services which are used to provide you with financial
illustrations and comparison service providers who help us determine what
products may be available for you depending on your specific circumstances;
- product and financial service providers from
whom we acquire products, whether on your behalf or in your own name with our
assistance, who will require specific information (for example, fund companies,
insurance companies and pension companies);
- professional advisors, such as lawyers,
accountants, actuaries;
- an organisation
who we may transfer our rights and duties to in the event of a corporate
transaction (e.g. if we restructure or sell our business); and/or
- a Raymond James
group company, such as Raymond James Financial Services or its parent company
Raymond James Financial Inc, or any other custodian and investment platform we
may use in conducting your business.
We
can also share your information with UK and overseas regulators and authorities
in connection with their duties (such as crime prevention), and/or in
connection with our compliance with legal and/or regulatory obligations.
Unless
a third party is our service provider (such as our communications service
provider), we cannot control all use of your personal information by some third
parties who we may be required to share your information with (such as
regulators), as they will process your personal information for their own
specific purposes. As such, where your personal information has been shared
with another data controller entity, you will have rights over how that third
party handles your personal information and you can and should contact those
parties directly if you want to exercise your rights in relation to those third
party’s uses of your personal information.
7. Is your personal
information transferred outside of the UK ?
7.1 We are based in the UK but
sometimes your personal information will be transferred outside the UK If it is
processed within the UK then your
personal information is protected by UK data protection standards.
7.2 Some countries outside the
UK do have adequate protection for personal information under laws that apply
to us, this only happens where the UK has confirmed this and made a decision in
this regard. However, where your personal information is transferred outside of
the UK to a country which does not have the same level of protection as
afforded within the UK , we will make sure that suitable safeguards are in
place before we transfer your personal information to such a country.
7.3 At present, your personal
information will be transferred to one or more of the following countries:
7.3.1 United States of America; and/or
7.3.2
where you use an overseas custodian or offshore wrapper provider such as an
Offshore Portfolio Bond, the Channel Islands (that is the Isle of Man, Guernsey
and Jersey), Switzerland and Liechtenstein.
7.4 The safeguards that we will use to protect your
personal information in relation to international transfers include contractual
obligations imposed on the recipients of your personal information. Those
obligations require the recipient to protect your personal information to the
standard required in the UK . Safeguards also include requiring the recipient
to meet one of the UK approved mechanisms to transfer personal information
outside of the UK which include:
7.4.1
sending the information to UK approved countries, that is countries which the UK
has deemed to have data privacy laws which are of a standard which complies
with the UK data protection laws (this
is the case for the Channel Islands mentioned above);
7.4.2 the use of UK approved model clause contracts;
7.4.3 for transfers to the United States –
certification under Privacy Shield;
7.4.4
having internal binding corporate rules which set an internal standard for the
handling of personal information which meets UK data protection law
requirements.
There are more measures being
introduced from 25 May 2018, and we will keep those under review always with
the intention that your personal information will be appropriately secured and
treated in the event that it is transferred outside of the UK
7.5 As part of our business
operations, we will, where it is lawful and necessary to do so, share with
and/or transfer some of your personal information to Raymond James Investment
Services (as discussed above).
8. What should you do if
your personal information changes?
We will take steps to ensure
that we keep your personal information accurate and up to date. However, we are
reliant on you to assist us in doing this. As such, you should tell us without
delay if any of your personal information changes, so that we can update our
records.
9. Do we do any monitoring
which involves the processing of your personal information?
By
monitoring, we mean any listening to, recording of, viewing of, intercepting
of, or taking and keeping records (as the case may be) of calls, email, text
messages, social media messages, in person face to face meetings and other
communications.
We
may monitor where permitted by law and we will do this where the law requires
it. In particular, where we are required by the Financial Conduct Authority’s
regulatory regime to record certain telephone lines or in person meetings (as
relevant) we will do so. However, it is standard practice that we will record
all external calls for training, compliance, security and evidentiary purposes
even where these calls fall outside of our regulatory obligations. This
practice is noted within and is part of our Terms of Business.
Some
of our monitoring may be to comply with regulatory rules, self-regulatory
practices or procedures relevant to our business, to prevent or detect crime,
in the interests of protecting the security of our communications systems and
procedures, to have a record of what we have discussed with you and actions
agreed with you, to protect you and to provide security for you (such as in
relation to fraud risks on your account) and for quality control and staff
training purposes.
In addition to monitoring
calls, our office may use CCTV cameras for health, safety and security
purposes. As such, if you attend our office, you may have your image recorded
on CCTV. We may also deploy other access control mechanisms at our office, such
as a visitor’s log, which you may be required to sign on entry which will also
capture our personal information for safety and security purposes.
10. Profiling and other
automated decision making
At present we do not undertake
any automated decision making processes which could result in a negative
consequence. At every stage when we handle your personal information, there
will be a human element to the interaction before any negative decision is
made. However, we do operate some profiling when we process your personal
information.
Specifically, we use programmes
which:
- assist us in determining what your natural
attitude to risk is; and
- create cash flow models which are specific to
your situation.
Neither of these programmes are
used to make any determinations, at least not without your prior input and
confirmation. In other words, we use this tool to provide you and us with
further information about attitude to risk and to create models about your
investments made through us or your cash flow needs thus giving you more
control over how you want to handle them going forwards.
11. How long is your
personal information retained by us?
We
will only retain your personal information for as long as necessary to meet the
reason your personal information was collected for. We need to keep your
information long enough to make sure that we can provide our services to you,
to comply with and/or satisfy all legal obligations including our obligations
to keep records and to protect our interests.
In terms of how long we will
retain your personal information for. We will keep most personal information
for at least 10 years after you cease to be a client of ours. There may be some
instances where we will need to keep the information for longer periods of time
depending on the nature of the data, or the purpose for the retention. In this
regard, we have set out some examples of processing which we undertake and the
reason why we will need to retain your personal information even after you
cease to be a client of ours.
• Retention
in case of queries: We will retain the personal information that we need to
keep in case of queries from you (for instance, if you apply unsuccessfully for
a product or service);
• Retention
in case of claims: We will retain the personal information that we need to
keep for the period in which you might legally bring claims or complain to the
Financial Ombudsman against us;
• Retention
in accordance to pension transfers: We will retain all personal information
in relation to pension transfers advice for so long as this is required by law;
and/or
• Retention
in accordance with legal and regulatory requirements: We will retain the
personal information that we need to keep even after the relevant contract you
have with us has come to an end.
If we anonymise your personal
information so that it can no longer be associated with you, it will no longer
be considered personal information, and we can use it without further notice to
you.
If you would like further
information about our data retention practices, contact us on the details set
out in this Privacy Notice.
12. What are your rights
under data protection laws?
Here is a list of the rights
that all individuals have under data protection laws. They do not apply in all
circumstances. If you wish to exercise any of them we will explain at that time
if they are engaged or not.
12.1 The right to be informed about our
processing of your personal information;
12.2
The right to have your personal information corrected if it is inaccurate and
to have incomplete personal information completed
12.3 The right to object to processing of your
personal information;
12.4 The right to restrict processing of your
personal information;
12.5 The right to have your personal information
erased (the “right to be forgotten”);
12.6
The right to request access to your personal information and to obtain
information about how we process it;
12.7
The right to move, copy or transfer a copy of the personal information
you have provided us with (“data portability”);
12.8
Rights in relation to automated decision making which has a legal
effect or otherwise significantly affects you.
To exercise your rights as set out
above, please write to us at the details set out in this Privacy Notice.
There is no fee for making these
requests. However, if your request is excessive or unfounded, we can charge a
reasonable fee or refuse to comply with it.
You
have the right to complain to the Information Commissioner’s Office which
enforces data protection laws: https://ico.org.uk/.
13. Data anonymisation and
use of aggregated information
Your personal information may
be converted into statistical or aggregated data which cannot be used to
re-identify you. It will then be used to produce statistical research and
reports. This aggregated data will be shared and used in all the ways described
in this privacy notice, and it may also be used in other ways not described
here. However, as the information will be aggregated anonymous data, it will no
longer constitute your personal information and can therefore be used more
widely than if you could still be identified from it.
14. Future changes to this
privacy notice
We reserve the right to update
this privacy notice at any time. You will always be able to review the current
privacy notice by visiting: www.invfit.co.uk, or by requesting a copy from us.
15. Our Contact Information
15.1
Please contact us if you have any questions about this privacy notice or
information we hold about you.
Email us: [email protected]
Call us: 020 8201
5132
Write to us: DJWM Ltd, 62 Cyprus Avenue, London N3 1SR
V1/Rev 5- January 2024
