Data Protection Statement

This Data Protection Statement (‘Statement’) sets out how your information, including personal and special personal information, will be used by Investec. It applies to any information, you give to Investec, or which Investec may collect from third parties.

It is important that you read this Statement carefully before submitting any information to Investec.

The provisions of this Statement are subject to mandatory, unalterable provisions of Applicable Laws. Any specific provisions pertaining to subsidiary of Investec Limited located in a particular jurisdiction will be dealt with in a separate section in the Statement.

For purposes of this Statement:

“Affiliate(s)” means

(a) with respect to any undertaking, a subsidiary undertaking or parent undertaking of that undertaking, and any other subsidiary undertaking of any parent undertaking of that undertaking or any person who is directly or indirectly affiliated by way of a dual listing with such undertaking from time to time; and

(ii) with respect to an individual, an undertaking in which that individual has, or may have, directly or indirectly, a Controlling Interest from time to time.

“Applicable Laws” means all local, foreign and international laws, regulations, treaties and codes that Investec is required to comply with, for example the Protection of Personal Information Act 4 of 2013, the Financial Intelligence Centre Act 38 of 2001, the National Credit Act 34 of 2005 and the Foreign Account Tax Compliance Act of the United States of America. 

"Client", “you” or “your” refers to any prospective, new or existing client of any member of the Investec Group. 

"Investec" or “we” means Investec Limited, its subsidiaries and affiliates. To obtain more information on these subsidiaries please refer to the Investec Group annual financial statement located on our website under Investor Relations: https://www.investec.com/en_za/welcome-to-investec/about-us/investor-relations/financial-information.html.

“Investec Group” means Investec Limited and Investec plc and all their Subsidiaries.

“Personal Information” means information relating to an identifiable, living, natural person, and where it is applicable, an identifiable, existing juristic person, including, but not limited to—

(a) information relating to the race, gender, sex, pregnancy, marital status, national, ethnic or social origin, colour, sexual orientation, age, physical or mental health, well-being, disability, religion, conscience, belief, culture, language and birth of the person;

(b) information relating to the education or the medical, financial, criminal or employment history of the person;

(c) any identifying number, symbol, e-mail address, physical address, telephone number, location information, online identifier or other particular assignment to the person;

(d) the biometric information of the person;

(e) the personal opinions, views or preferences of the person;

(f) correspondence sent by the person that is implicitly or explicitly of a private or confidential nature or further correspondence that would reveal the contents of the original correspondence;

(g) the views or opinions of another individual about the person; and

(h) the name of the person if it appears with other personal information relating to the person or if the disclosure of the name itself would reveal information about the person.

“Special Personal Information” means personal information concerning—

(a) the religious or philosophical beliefs, race or ethnic origin, trade union membership, political persuasion, health or sex life or biometric information of a data subject; or

(b) the criminal behaviour of a data subject to the extent that such information relates to—

(i) the alleged commission by a data subject of any offence; or

(ii) any proceedings in respect of any offence allegedly committed by a data subject or the disposal of such proceedings.

“Subsidiary” means

(a) subsidiary of Investec if Investec, one or more other subsidiaries of Investec, or one or more nominees of Investec or any of its subsidiaries, alone or in any combination—

(i) is or are directly or indirectly able to exercise, or control the exercise of, a majority of the general voting rights associated with issued securities of Investec, whether pursuant to a shareholder agreement or otherwise; or

(ii) has or have the right to appoint or elect, or control the appointment or election of, directors of that company who control a majority of the votes at a meeting of the board; or

(b) a wholly owned subsidiary of another juristic person if all of the general voting rights associated with issued securities of the company are held or controlled, alone or in any combination, by persons contemplated in paragraph (a).

If you have any questions about this Statement please contact Investec’s Information Officer, Group Compliance at 100 Grayston Drive, Sandown, Sandton, 2196, South Africa or you may send an email to dataprotectionsa@investec.co.za.

We may amend this Statement from time to time for any of the reasons listed below. 

• To provide for the introduction of new systems, methods of operation, business, services, products, property offerings or facilities;

• To reflect an actual or expected change in market conditions or general banking financial services, lending, investment and advisory services or property practices;

• To comply with changes to any legal or regulatory requirement;
• To ensure that this Statement is clearer and/or more favourable to you;
• To rectify any error that might be discovered from time to time; and/or
• For any other reason which Investec, in its sole discretion, may deem reasonable or necessary.

We will notify you of any changes to this Statement  by placing a notice in a prominent place on Investec’s website or by sending you an email detailing the changes that we have made.

Investec takes your privacy and the protection of your personal information very seriously. We will only use your personal information in accordance with this Statement and applicable data protection legislation. It is important that you take all necessary and appropriate steps to protect your personal information yourself (for example, by ensuring that all passwords and access codes are kept secure). More information on how you can protect yourself from fraud is available at https://www.investec.com/en_za/legal/know-fraud.html.

We have reasonable technical and operational measures to keep your personal information secure, however in the event of a security compromise, we will inform you that your personal information has been accessed or acquired by an unauthorised person. We will do so as soon as reasonably possible after the discovery of the compromise, taking into account the needs of law enforcement or any measures reasonably necessary to determine the nature and scope of the compromise.

We may collect information which includes but is not limited to the following:

• Where you are a natural person/individual, your full name, date of birth, place of birth, contact details, citizenship information, identity number and/or passport number, residential and postal address, contact details, bank details, details about your employment, tax number, other financial information and where relevant, related party information (e.g. information in respect of authorised person/s);
• Where you are a juristic person/entity or incorporation / registration and / or trading name, incorporation / registration number, place of incorporation / registration and operation, industry / nature of business information, tax number, other financial information and related party information (e.g., information in respect of authorised person/s and those who have been identified as having ownership and / or exercising control of your entity);    
• Records of correspondence or enquiries from you or anyone acting on your behalf;
• Details of transactions you carry out with us;
• Details of contracts, sales or leases you carry out with us;
• Details of your credit history, where you have applied for credit and any additional information once we have agreed to provide credit to you;
• Your medical records for underwriting and claims purposes, where you have applied for an insurance cover or where we have agreed to provide cover through our insurance business;
• Sensitive or special categories of personal information, such as criminal behaviour and biometric information such as images, fingerprints and voiceprints. 
• Information which you have made public through for example social media platforms.

Where the nature of the transaction or business relationship being entered into requires, we may collect further information about you in addition to the information set out above. In this instance we will inform you of what information is collected. 

We may require you to provide us with additional personal and tax-related information, in order for us to meet our legal or regulatory obligations. For tax reporting purposes, we may collect information belonging to persons who have authority or effective control over your account/the accountholder (this includes a person with power of attorney and for some passive entities, all of the controlling persons of such entity). We may collect this information from you or such other persons.

Where you provide us with the personal information of third parties you should take steps to inform the relevant third party that you need to disclose their details to us, identifying us. We will process their personal information in accordance with this Statement.

We may collect your personal information in the following ways:

You may provide personal information to us either directly or indirectly (through an agent acting on your behalf, an independent financial advisor, or an introducer):

• by completing an application for our products and services; or 
• requesting further information about our products and services, whether in writing, through our website, over the telephone or any other means. 

We may also collect your personal information from your appointed agent, financial services provider, any regulator, fraud prevention agency or other third party or public resource that may hold such information.

In instances where you have applied for credit or where we have agreed to provide credit to you or where it is necessary for us to conduct a search in order for us to provide an offering to you, we may conduct searches at a credit bureau(x). Details of our searches conducted will be kept by the relevant credit bureau and will be available to other businesses that conduct searches with that bureau. These searches are conducted by us for the purposes of meeting our regulatory obligations, credit assessments, debt recovery, management of your accounts, prevention of money laundering and fraud and statistical analysis. In instances where you apply for credit, we will tell you, where permitted by law, if we make a decision about you relating to your credit scoring or eligibility for our products or services based solely on an automated decision-making process. You will be given a reasonable opportunity if permitted by law or code of conduct to make representations about any such decision.

In the instance where you have applied for an insurance related product, as well as at claims stage related to such product we will initially and thereafter, on an ongoing basis, obtain and/or share information from/with our reinsurers, medical service providers, and other relevant sources to accurately assess your health or insurance risk. 

We may use, transfer, and disclose your personal information for the following purposes:

• Providing you with the services, products, or offerings you have requested, and notifying you about important changes to these services, products, or offerings;
• Managing your account, investment, contractual arrangement, or relationship and complying with your instructions or requests;
• Assess the risk involved in providing credit or financial services to you;
• Detecting and preventing fraud, financial crime, and/or safeguarding the interest of national security;
• Verifying your identity or the identity of your related parties (e.g. authorised persons and those who have ownership and/or exercise control of your entity);
• Assessing and dealing with complaints and requests received from you;
• Assessing your affordability and possible investment needs (including existing investments) within the Investec Group;
• Assessing your medical information for insurance purposes;
• Meeting operational, marketing, auditing, legal, regulatory, and record-keeping requirements;
• Conducting financial crime-related screening against relevant lists;
• Verifying your identity or the identity of any beneficial owner;
• Taking credit decisions where you have applied for credit or where we have agreed to provide credit to you;
• Obtaining credit reports or those of any other security provider from one or more credit reporting agency in connection with any agreement between you and Investec and where you direct us to do so, where applicable;
• Using your credit score or other external data-check mechanisms when considering any account application received from you and when providing you with services and products, and verifying any information provided by you or by the authorised signatory;
• Transmitting to a registered credit bureau any information concerning your application for a credit facility, our agreement with you, termination and non-compliance with the terms thereof, as well as information about your account;
• Conducting credit checks on related parties who are authorised users on an account;
• Complying with Applicable Laws, including lawful requests for information received from local or foreign law enforcement, government and tax collection agencies;
• Conducting market research and providing you with information about Investec’s products or services from time to time via email, telephone or other means (for example, events); 
• Ensuring that where you have unsubscribed from certain direct marketing communications, we do not send such direct marketing to you again; 
• Engaging with third parties, including other members of the Investec Group for reasons set out in this Statement or where it is not unlawful to do so; 
• Complying with an obligation imposed by inter-bank agreements and payment clearing rules; 
• Monitoring, keeping record of, and having access to all forms of correspondence or communications received by or sent from Investec or any of its employees, agents, or contractors, including monitoring and recording telephone communications between you and Investec to be used in the event of any dispute arising between you and Investec; and
• Improving or evaluating the effectiveness of Investec’s business or products, services or offerings;
• Reclaiming offshore dividends withholding tax (“DWT”) on your behalf, where such relief is available through the double taxation agreements between South Africa and various other countries;
• Enabling your attendance at webinars, webcasts, events, or participation in competitions that Investec has arranged or sponsored.

We may from time to time contact you about services, products, and offerings available from Investec or specific members of the Investec Group which we believe may be of interest to you, by email, phone, text, or other electronic means, unless you have unsubscribed from receiving such communications by sending an email to allunsubscribe@investec.com.

Your personal information may be shared with other members of the Investec Group, our agents and sub-contractors, and selected third parties who process your personal information on our behalf including third parties who may carry on business in another country, who may not have data protection laws similar to those in the Republic. 

We may disclose your personal information to  members of the Investec Group in order to:

• Assess and monitor any of your applications for Investec products or services, including the risk involved to comply with Applicable Laws; 
• Determine which products and services of Investec that may be of interest to you and/or to send you information about such products and services, unless you object or choose not to receive such communications;
• Provide proposals to you which include details of existing products or services you may hold within the Investec Group;
• Expedite the provision of services, account opening and facilitate the opening of further accounts;
• Keep your personal information complete, accurate and up to date;
• Manage additional benefits associated with an account;
• Make decisions regarding the extension of credit;
• Fulfill our provision of insurance products and services to you;
• Fulfill our obligations relating to buying, selling, and letting of land and/or premises; 
• Keep your usual contact within Investec informed of the progress of any new applications for new accounts, and vice versa;
• Have a better understanding of your circumstances and needs in order to provide and improve Investec’s products and services.

We may disclose your personal information to third parties in order to:

• Comply with Applicable Laws which require Investec and/or any third party to collect information about your tax residency and related tax matters, which Investec may, at times, be obliged to report to SARS (for example, where you are a US Person and/or have tax residency outside of South Africa, or where you fail to provide tax-related information or where any self-certification provided by you is incorrect or incomplete;
• Report transactions to a licensed external trade repository in order to meet our legal obligations as an Over-the-Counter Derivatives Provider.

We may disclose your personal information to the following specific third parties:

• To financial institutions who have received payments made by you to them in order for them to identify you as payer of the funds;
• To a person and/or entity authorised to receive such information for purposes of prevention, detection and reporting of fraud, financial crime, and criminal activities; 
• To any regulator or supervisory authority, including those in foreign jurisdictions, if Investec is required to do so in terms of Applicable Laws;
• To any person who has agreed to provide security for your indebtedness;
• To a prospective buyer or seller of any of our businesses or assets and/or obligations; 
• To a person who acquires substantially all of the assets and/or obligations of a member of the Investec Group;
• To any person if we share your personal information to comply with any Applicable Laws, or in our opinion where is necessary to protect your/other Clients’ or third parties’ rights, property, or safety or those of Investec itself;
• To any surety, guarantor, potential surety, or potential guarantor for any of your obligations under any finance document where such a person acting on your behalf requests such information in order to evaluate any actual or potential liability under such suretyship or guarantee; 
• To your agent or any other person acting on your behalf, an independent financial advisor or an introducer, informing them of the outcome of your application and whether we have agreed to provide you with the product, service, or offering you have applied for and further information about you and your relationship with Investec (including details of a related investment) throughout the term of that relationship; 
• To a third party to reclaim offshore DWT on your behalf and/or;
• To independent public accountants and auditors and authorised representatives of internal control functions such as audit and legal.

If you do not wish us to disclose the information specified above to third parties, please contact us at the contact details set out above. We may, however, not be able to provide products or services to you if such disclosure is necessary for the provision of such products or services.

Investec Travel is a Private Banking service offering that facilitates transactions between you and travel service providers such as airlines, hotels, car hire companies, tour operators, cruise companies, rail operators, visa service companies, travel insurance companies and foreign exchange operators (‘Suppliers’) and enables you to purchase such Supplier’s products and services. This may involve the transfer of personal information to a Supplier who is a third party in a country outside South Africa.  Once personal information is provided to a Supplier such personal information will be processed by the relevant Supplier in accordance with such Supplier’s own data processing statement / policies.

We will retain your information in accordance with the retention periods set out in Applicable Laws, unless we need to retain it for a longer period for a lawful purpose. (For example, for the purposes of complaints handling, legal and regulatory processes and proceedings and combatting financial crime.)

The following rights apply to the processing of your personal information, some of which are not absolute. We may need to request additional personal information from you to confirm your identity.

Access to your personal information

You may request details of the personal information which we hold about you under the Promotion of Access to Information Act 2 of 2000 (“PAIA”). Fees to obtain a copy or a description of personal information held about you are prescribed in terms of PAIA. Confirmation of whether or not we hold personal information about you may be requested free of charge. If you would like to obtain a copy of your personal information held by Investec, please refer to our Promotion of Access to Information Act Manual located at https://www.investec.com/en_za/legal/paia-promotion-of-access-to-information-act.html.

We may or must refuse, as the case may be, to disclose any information requested in terms of PAIA to which the grounds for refusal of access to records set out in PAIA apply. If a request for access to personal information is made to Investec and part of that information may or must be refused in terms of the grounds for refusal in PAIA, every other part must be disclosed.

Correction of your personal information

You may request the correction of personal information Investec holds about you. If you wish to do so, please complete the applicable Form in Appendix 2 and email it to dataprotectionsa@investec.co.za.

Please ensure that the information we hold about you is complete, accurate and up to date. If you fail to keep your information updated, or if your information is incorrect, Investec may limit the products and services offered to you or elect not to open an account for you. Depending on the nature of the change, and Applicable Laws, we may be required to report the information to a tax authority or third-party financial institutions which are withholding agents.

You also have the right to contact the relevant credit bureau(x), in order to have your credit record(s) disclosed and to correct any inaccurate information they may hold.

Destruction or deletion of your personal information

You have a right in certain circumstances to request the destruction or deletion of your personal information and, where applicable, to obtain a restriction on the processing of personal information held about you. If you wish to exercise this right, please complete the applicable Form in Appendix 1 and email it to dataprotectionsa@investec.co.za.

You have a right to object on reasonable grounds to the processing of your personal information where the processing is carried out in order to protect our legitimate interests or your legitimate interests unless Applicable Law provide for such processing. If you wish to object to the processing of your personal information, please complete the applicable Form in Appendix 2 and email it to dataprotectionsa@investec.com.

Withdrawal of consent and objection to the processing of your personal information

Where you have provided consent for the processing of your personal information, you have the right to withdraw your consent provided that the lawfulness of the processing of your personal information is not affected in certain circumstances.

We may from time to time contact you about services, products, and offerings available from Investec or specific members of the Investec Group which we believe may be of interest to you, by email, phone, text, or other electronic means, unless you have unsubscribed from receiving such communications. You may also object to the processing of your personal information other than by direct marketing by means of unsolicited electronic communication by sending an email to allunsubscribe@investec.com.

If your objection to the processing of your personal information has met the relevant requirements, we will no longer process your personal information in that manner.

Should you believe that Investec has utilised your personal information contrary to Applicable Laws, you undertake to first attempt to resolve any concerns directly with lnvestec. 

If you are not satisfied with the outcome of such process, you may have the right to lodge a complaint with the Information Regulator, using the contact details listed below:

Tel: 010 023 5200
Email:  POPIAComplaints@inforegulator.org.za

You may also institute civil proceedings regarding the alleged interference with the protection of your personal information as provided for in applicable laws.

Cookies are information that is used to track visitor use of a website and to compile statistical reports on website activity. If you wish to restrict or block cookies, you can do this through your browser settings. If you require more information on cookies, see the Cookies Policy on Investec’s website.

Investec DIFC is a branch of Investec Bank Ltd established in the DIFC that provides Private Banking, Wealth and Investment and Corporate and Institutional Banking solutions and in and from the DIFC.
 

Personal information we may collect from you

We may collect the following personal information from you:

• Contact details such as physical address, email address and telephone number
• Identification information such as name, date of birth, nationality, country or emirate of residence, national identity number, passport number
• Financial information and business information such as tax number, transaction history and other financial information and related party information (e.g., information in respect of authorised person/s and those who have been identified as having ownership and/or exercising control of your entity).

Purpose of processing your personal information referred to above

The purpose of processing your personal information in addition to onboarding you is to:

• Arrange deals in investments
• Advise on financial products and investment opportunities within the banking sphere
• Arrange credit and advising on credit including introducing potential borrowers to a credit provider, assisting a potential borrower to obtain credit , negotiating terms of credit and/or arranging collateral or other assurances; and
• Arrange custody to provide comprehensive investment services.

The legal bases for the processing of your personal information are to take the necessary steps at your request prior to entering into a contract, and/or, to meet our legal obligations under anti-money laundering legislation including legislation under the DIFC’s legal and regulatory framework.

Transfer/storage of your personal information

Personal information that we collect from you is stored in Dubai, UAE.

Personal information which we collect may be shared with government departments, agencies and public bodies. We will also disclose your personal information to our service providers where necessary to fulfil the purposes described in this Statement. Whenever we share your personal information, we will always make sure this takes place in compliance with applicable privacy laws.

To facilitate the opening of accounts in other jurisdictions we will transfer your personal information to the following other entities within the Investec Group located in other jurisdictions such as the United Kingdom and European Economic Area (“EEA”), Switzerland, Mauritius, Channel Islands, Mauritius and South Africa. Such transfers shall always be done with the relevant data protection clauses in place and in compliance with relevant data protection laws.

Your rights

You have the following rights relating to the processing of your personal information:

• The right to be informed of the collection and use of your personal information;
• The right to access your personal information;
• The right to have your personal information complete and accurate;
• The right to the erasure of your personal information but only in certain circumstances;
• The right to have the processing of your personal information restricted in certain circumstances;
• The right to data portability which allows you to obtain and reuse your personal information for your own purposes;
• The right to object to the processing of your personal information in certain circumstances and the right to object to the processing of your personal information for the purpose of direct marketing;
• The right to withdraw your consent to the processing of your personal information where applicable; and
• The right to complain to the Information Commissioner. For more information, please visit https://u.ae/en/about-the-uae/digital-uae/data/data-protection-laws.

Contact us

If you have any questions about this Statement or our data protection practices, including requests relating to your rights as set out above, please contact us at dataprotectionsa@investec.com.
We may need to request additional personal information to ensure that we can confirm your identity.

Investec and Investec Plc operate globally and have a client base in the United Kingdom and Europe. If you have any questions about the data protection practices in the above-mentioned jurisdictions, please use the following contact details:

• Investec United Kingdom: Data Protection Officer at 30 Gresham Street, London EC2V 7QP. Email: dataprotection@investec.co.uk
• Investec Bank (Switzerland) AG: Löwenstrasse 29, 8001 Zürich, Switzerland. Email: data.protection@investecbank.ch
• Investec Ireland: Data Protection Officer, Investec Europe Ltd, The Harcourt Building, Harcourt Street, Dublin 2. Email: info@investec.ie
• Investec Bank (Channel Islands) Limited: Glategny Court, Glategny Esplanande, St Peter Port, Guernsey, GY13LP, Channel Islands. Email: dataprotection@investec-ci.com
• Investec Capital Services (India) Private Limited, 11^th floor: 11^th floor, PArinee Crescenzo, E, G Block BKC, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051, India. Email: indiacompliance@investec.co.in
• Investec Bank (Mauritius) Limited: Office 2, Ground Floor, Block 3, The Strand, Beau Plan, 21001, Mauritius. Email: dataenquiries@investec.co.mu
• Investec United states: Data Protection Officer at 10 East 53^rd Street, 22^nd Floor, New York, NY 10022, United States of America. Email: dataprotection@investec.co.uk (enquiries handled vis UK team)
• Investec (DIFC): Information Officer at Central Park Towers, DIFC. Office Tower. Level 31, Unit 31-34, Dubai, United Arab Emirates. Email: dataprotectionsa@investec.com

We regularly review applicable laws and accordingly keep this statement under regular review. We may amend this Statement by amending this page. You are therefore encouraged to review this Statement from time to time for updates. This document should be read with our Service Terms of Use and any other document referred to in it.

We work closely with regulatory authorities including local data protection authorities to resolve complaints regarding the processing of personal information.