Data Protection Statement
Investec Limited Data Protection Statement (“Statement”)
For purposes of this Statement:
“Applicable Laws” means local, foreign and international laws, regulations, treaties and codes, for example 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" or “you” means any prospective, new or existing client of any Investec Entity.
"Investec" or “we” means Investec Limited and its direct and indirect subsidiaries. To obtain more information on these subsidiaries please look at 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 Entity” means a particular entity within Investec.
This Statement sets out how your personal information will be used by Investec and applies to any information, including personal and special personal 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 personal information to Investec.
The provisions of this Statement are subject to mandatory, unalterable provisions of Applicable Laws.
How to contact us
If you have any comments or questions about this Statement please contact the Information Officer, Group Compliance at 100 Grayston Drive, Sandown, Sandton, 2196, South Africa or you may send an email to [email protected].
Amendment of this Statement
We may amend this Statement from time to time for any of the following reasons:
- To provide for the introduction of new systems, methods of operation, services, products, property offerings or facilities;
- To reflect an actual or expected change in market conditions or general banking financial services, lending or property practices;
- To comply with changes to any legal or regulatory requirement;
- To ensure that our Data Protection Statement is clearer and more favourable to you;
- To rectify any mistake 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.
Privacy and security
Investec takes your privacy and the protection of your personal information very seriously, and 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 implemented reasonable technical and operational measures to keep your personal information secure.
Information which we may collect about you
We may collect the following information about you:
- This information may include your name, address, contact details, date of birth, place of birth, identity number, passport number, bank details, details about your employment, tax number and financial information;
- Information about your beneficial owner (if applicable):
- 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;
- Your credit history, where you have applied for credit or where we have agreed to provide credit to you;
- Sensitive or special categories of personal information, including biometric information, such as images, fingerprints and voiceprints.
We may require you to provide 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 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 third party that you need to disclose their details to us, identifying us. We will process their personal information in accordance with this Statement.
How we collect information
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, or other third party that may hold such information.
In instances where you have applied for credit or where we have agreed to provide credit to you, we may conduct searches at credit bureau(x). Details of our searches will be kept by the credit bureau and will be available to other businesses that conduct searches with that agency 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 a decision.
Use of information collected
We may use, transfer and disclose your personal information for the purposes of:
- 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;
- Complying with your instructions;
- Detecting and preventing fraud and money laundering and/or in the interest of security and crime prevention;
- Assessing and dealing with complaints and requests;
- Assessing your affordability and possible investment needs;
- Operational, marketing, auditing, legal and record keeping requirements;
- Conducting sanctions and politically exposed person screening against any relevant list;
- Verifying your identity or the identify of your beneficial owner;
- Taking credit decisions where you have applied for credit or where we have agreed to provide credit to you;
- Requesting your consumer 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 and when providing you with services and products, and verifying any information provided by you;
- 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;
- 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;
- Disclosing your personal information to third parties, including other Investec Entities 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.
We may from time to time contact you about services, products and offerings available from Investec or specific Investec Entities 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.
Disclosure of your information
Your personal information may be shared with other Investec Entities, our agents and sub-contractors, and selected third parties who process the information on our behalf.
We may also disclose your personal information to third parties in the following circumstances:
- To any other Investec Entities or other third parties 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 these entities 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;
- expedite account opening and facilitate the opening of further accounts;
- manage additional benefits associated with an account;
- make decisions regarding the extension of credit;
- keep your usual contact within Investec informed of the progress of any new applications for new accounts, and the other way around;
- have a better understanding of your circumstances and needs to provide and improve Investec’s products and services;
- comply with Applicable Laws requiring Investec and/or any third party to collect information about an account holder's tax residency, which Investec may, at time, be obliged to report to SARS (for example, where the account holder is a US Entity and/or has tax residency outside of South Africa, or where the account holder fails to provide tax related information or where the self-certification provided by the account holder is incorrect or incomplete); and
- To financial institutions who have received payments made by the Client in order for that institution to identify the Client 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 and criminal activities, the identification of the proceeds of unlawful activities and the combatting of crime;
- To any regulator or supervisory authority, including those in foreign jurisdictions, if Investec in required to do so in terms of Applicable Laws;
- To any person who has agreed to provide security for the indebtedness of a Client;
- 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 an Investec Entity;
- To any person if we are under a duty to disclose or share your personal information in order to comply with any Applicable Laws, or to protect the rights, property or safety of Investec, Clients or other third parties;
- To any surety, guarantor, potential surety or potential guarantor for the obligations of a Client under any finance document who requests such information 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. We may also disclose information about you and your relationship with Investec (including details of a related investment) throughout the term of that relationship.
We may transfer your information to another Investec Entity, an agent, sub-contractor or third party who carries on business in another country, including one which may not have data protection laws similar to those of the Republic. If this happens, we will ensure that anyone to whom we pass your information agrees to treat your information with the same level of protection as if we were dealing with it.
If you do not wish us to disclose this information 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.
- To any other Investec Entities or other third parties to -
Retention of your information
We may retain your personal information indefinitely, unless you object, in which case we will only retain it if we are permitted or required to do so in terms of Applicable Laws. However, as a general rule, we will retain your information in accordance with retention periods set out in Applicable Laws, unless we need to retain it for longer for a lawful purpose. (For example, for the purposes of complaints handling, legal processes and proceedings.)
Access to, correction and deletion of your personal information
You may request details of 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 review 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.
You also have the right to contact relevant credit bureau(x), to have the credit record(s) disclosed and to correct any inaccurate information.
You may request the correction of personal information Investec holds about you. 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 the account. 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 have a right in certain circumstances to request the destruction or deletion of and, where applicable, to obtain restriction on the processing of personal information held about you. If you wish to exercise this right, please contact us using the contact details set out above.
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 the law provides for such processing.
Should you believe that Invested has utilised your personal information contrary to Applicable Laws, you undertake to first attempt to resolve any concerns with lnvestec.
If you are not satisfied with such process, you may have the right to lodge a complaint with the Information Regulator, using the contact details listed below:
Tel: 012 406 4818
Fax: 086 500 3351
Email: [email protected]
Investec operates globally and has 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 Bank Plc, and all other jurisdictions: Data Protection Officer at 30 Gresham Street, London EC2V 7QP.
- Investec Asset Finance plc: Data Protection Officer at Reading International Business Park, Reading, RG2 6AA.
- Ireland: Data Protection Officer, Investec Europe Ltd, The Harcourt Building, Harcourt Street, Dublin 2.
- Investec Wealth and Investment Limited: Data Protection Officer at 100 Old Hall Street, Liverpool, L3 9AB.
- Investec Wealth and Investment Limited Channel Islands: Data Protection Officer using the following contact details: Glategny Court, Glategny Esplanade, Guernsey, GY1 1WR, Channel Islands. or email [email protected]