ARC GROUP DATA PROTECTION NOTICE
This notice sets out how ARC Group will process personal information
The companies that make up the ARC Group (“ARC”) provide a range of financial services to its clients, including investment consultancy, manager research and portfolio performance reporting services. As well as individuals, our clients, in this context, may include third party entities contracting on behalf of underlying individuals such as: for example, (a) trustees of a trust with which you are connected (for example, as settlor, protector, enforcer or beneficiary); or (b) a company with which you are connected (for example as a director, officer, employee, shareholder or ultimate beneficial owner). Each of (a) and (b) being “ARC Client”.
We may use your personal information (including but not limited to names (current and former), address, contact details, date and place of birth, nationality, occupation and other personal identifiers such as tax identification numbers) for the Purposes stated below including where we are engaged, by an ARC Client to provide Services (as defined below), or whilst providing an ARC Client with other products and services. In this Notice, the terms "we”, "us" and "our" means ARC and our affiliates, agents, employees or delegates, as applicable.
Whilst the majority of personal information we process will be received either directly from you or via a third party source, such as a family office or the ARC Client acting on your behalf, we may also process some personal information from publically available online sources in order to verify your identity in accordance with our regulatory obligations (as more fully described below).
Purposes of Processing and Legal Basis for Processing
ARC (or any of its affiliates, agents, employees or delegates) may process your personal information for the following purposes (the "Purposes"):
• to facilitate the opening of the ARC Client's contractual relationship and any related account on an on-going basis including to update and maintain records and fee billing (the "Services") which are necessary for the performance of the contract with the ARC Client;
• ARC will process certain information about you or your agents or delegates (if applicable) in order to carry out anti-money laundering checks and related actions 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 ARC's anti-money laundering (AML) procedures (such actions being conducted if ARC considers it appropriate to meet any legal obligations imposed on ARC or if the processing is in the public interest or to pursue ARC’s legitimate interests). Such personal information may also include evidence of source of funds, which we may request and/or obtain from third party sources (including the family office or ARC Client (where applicable));
• to monitor and record calls and electronic communications (i) for processing and verification of instructions; (ii) for investigation and fraud prevention purposes; (iii) for crime detection, prevention, investigation and prosecution; (iv) to enforce or defend ARC and its affiliates' rights, itself or through third parties to whom it delegates such responsibilities or rights in order to comply with a legal obligation imposed on ARC; (v) to pursue ARC’s legitimate interests in relation to such matters; or (vi) for the processing 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 ARC to improve its service delivery;
• to disclose information, including personal data, to third parties such as:
o investment managers or advisors, delegates or replacement service providers (where applicable) for the provision of the Services as is necessary for the performance of your contract with ARC;
o tax authorities for tax reporting purposes in order to comply with a legal obligation imposed on ARC and any of its affiliates;
o auditors, competent authorities, courts and regulatory bodies in order to provide the Services and comply with a legal obligation imposed on ARC or its affiliates including requests from such regulatory bodies; and
o technology providers in order to pursue the legitimate interests of ARC or its affiliates;
• to retain the personal data processed as part of ARC’s anti money laundering procedures for future services entered into by the ARC Client including investment into collective investment schemes or to share this with our affiliates if the ARC Client requests that additional services are provided by such affiliates;
• to retain the personal data for as long as required to perform the Services or as required by applicable law,
• to service the client relationship and to provide information to the ARC Client about other products and services offered by ARC or any of our affiliates, which may be of interest, subject always to the right to object to such processing as more fully described under the heading 'Data Subject Rights' below, and
• which are necessary to perform the contract with the ARC Client, comply with legal obligations and/or which are necessary for ARC's legitimate interests indicated above and/or the processing is in the public interest.
Recipients of Data and International Transfer of Data
ARC may disclose your personal information as follows:
• to ARC affiliates and third party vendors in order to process the data for the Purposes; and
• to competent authorities (including tax authorities), courts and bodies as required by law or requested or to affiliates for internal investigations and reporting.
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 Guernsey and the European Union (EU) in accordance with the requirements of GDPR and The Data Protection (Bailiwick of Guernsey) Law 2017 (as may be amended or replaced from time to time) (the "Data Protection Law"). Such countries may not have the same data protection laws as Guernsey or the EU. Where such countries do not have the same or equivalent data protection regimes in place, ARC have put in place Standard Contractual Clauses as approved by the EU. Please contact ARC (Privacy@assetrisk.com) for copies of the Standard Contractual Clauses.
We will retain your personal information for as long as required in order to carry out our contractual, regulatory or legal obligations. The length of time for which we retain such information will depend on a number of factors including: the legal basis and rationale for which that data was obtained and whether additional legal/regulatory obligations mandate that ARC retains your personal information for a specific period of time (which varies according to the applicable law and/or regulation).
Data Subject Rights
You have the following rights, in certain circumstances, in relation to your personal information:
• Right to access your personal information.
• Right to rectify your personal information.
• Right to restrict the use of your personal information (in certain circumstances).
• Right to request that your personal information is erased (in certain circumstances).
• Right to object to processing of your personal information (in certain circumstances).
• Right to data portability (in certain specific circumstances).
Where an individual has provided consent to processing (e.g. to receive information about products and services which may be of interest to them or to the institution they represent), they may withdraw their consent at any time by contacting ARC by e-mailing Privacy@assetrisk.com.
Where ARC requires your personal information to comply with AML or other legal requirements, failure to provide this information means ARC may not be able to provide the Services.
You have the right to lodge a complaint with appropriate regulator, being The Office of the Data Protection Commissioner in Guernsey (www.dataci.org), The Office of the Information Commissioner in Jersey (www.dataci.org) or The Information Commissioner's Office in the UK (www.ico.org.uk) or a supervisory authority in the EU Member State of your habitual residence or place of work or the place of the alleged infringement if you consider that the processing of personal data relating to you carried out by ARC or its affiliates infringes the Data Protection Law.
How to contact us
If you have any questions about our use of your personal information, please contact us at Privacy@assetrisk.com.
Last update: May 2018