Personal Data Protection Policy
The purpose of this Data Privacy Notice (hereinafter referred to as the “Notice”) is to inform our clients (hereinafter referred to as the “Clients”) about how we collect, store and process their personal data.
Monaco Asset Management S.A.M. recognizes the importance of keeping clients’ data confidential and protecting their privacy rights. Regarding its activities and the data collected, Monaco Asset Management S.A.M. intends to apply the most restrictive principles and standards that are identifiable with respect to the protection of personal data. Therefore, all personal data and information (hereinafter referred to as “Data”) provided in connection with our services will be processed lawfully, fairly, transparently and confidentially.
Consent
By contracting the services offered by Monaco Asset Management S.A.M. (hereinafter referred to as the “Services”), and in accordance with the legal provisions in force, Clients acknowledge that entering into an engagement with Monaco Asset Management means that they agree to the collection and processing of Data and agree to this Notice.
What Data is collected?
Type of Data
As part of the Services, Monaco Asset Management collects the following Data (contemplative, non-exhaustive list) from its counterparties (clients, administrators of private equity vehicles, lawyers, banks, other financial intermediaries):
- Identification data: personal identification data (name, surname, title, tax identification number) and information relating to investment entities.
- Identification data issued by public authorities and other registers: identity cards, passports, certificate of incorporation, articles of association, share registers.
- Location data: personal and business addresses of investment entities.
- Communication and electronic identification data (personal and business): telephone number, e-mail address.
- Financial data: identification number and bank account numbers, financial resources, assets, financial transactions.
Information Collected Directly from Clients
Monaco Asset Management collects and records all information provided in connection with the Services or by any other means in its Clients Relationship Management system. The Client may choose not to provide Monaco Asset Management some Data, however this decision may deprive the Client of some Services or features offered in connection with the Services.
Information Collected from Third Parties – Subcontractors
As part of its Services, Monaco Asset Management may also collect data from third parties (administrators of private equity vehicles, lawyers, banks, other financial intermediaries, list of international sanctions, information available to the public – e.g. Bloomberg, World-Check. Data collected from third parties is treated in the same way as Data collected directly from the Clients.
Monaco Asset Management may be considered as a processor of personal data in the context of information collected from third parties, according to the applicable regulations. Should this be the case, Monaco Asset Management will enter into a data processing agreement with the third parties concerned to ensure compliance with the present Notice.
Legal Basis and Purposes of Data Collection and Processing
Monaco Asset Management processes your personal data in accordance with the legal bases and purposes set out in this Privacy Notice. Several objectives can form the basis of the same treatment.
The objectives are generally as follows:
Performance of contractual (including pre-contractual) obligations:
- The opening and maintaining of the contractual relationship with the Client (hereinafter referred to as a “Business Relationship”), including all formalities relating to the identification of the Client and of any person or entity over whom the Client or a third party provides information and / or of which Monaco Asset Management has knowledge in any other way in connection with the Business Relationship (hereinafter referred to as a “Related person”);
- Any other related services provided by Monaco Asset Management’s service providers and subcontractors in a Business Relationship;
- The management, administration, placement and distribution of financial products, including all services related to these activities.
Compliance with a legal obligation to which Monaco Asset Management is subject:
- Comply with the finance regulations and legislation that apply to Monaco Asset Management as an Asset Management Company subject to the regulator’s supervision;
- Cooperate with the relevant administrations and public authorities;
- Prevent fraud, including tax fraud, money laundering, terrorist financing, corruption, and the provision of services to persons and entities subject to economic or trade sanctions.
In view of legal and regulatory obligations, we inform you that failure to provide the information and documents that may be requested from you on this basis may prevent us from continuing a business relationship with you.
Pursuit of Monaco Asset Management’s legitimate interests, including:
- Improve the Business Relationship and the offer of services and products;
- Improve Monaco Asset Management’s internal commercial organization and operational activities, particularly in terms of risk management;
- Record telephone calls and e-mails to verify instructions received, enforce or defend Monaco Asset Management’s interests or rights, evaluate, analyse and improve the quality of our services, train our employees and manage risks;
- Ensure the security and proper IT functioning of the Company and prevent unauthorized access to bank premises, sensitive areas, IT systems (e. g. PCs), etc. by installing badge systems;
- Exercise our rights in claims and disputes (legal actions, investigations or similar proceedings);
- Report to the competent authorities potential criminal acts or threats to public safety, including the transmission of relevant personal data;
Client’s consent for a specific service:
If the processing of your personal data requires that you give your prior consent (for example, automated processing to define and establish the Business Relationship), we will ask you to provide it to us for this specific processing.
Methods of Data Processing
Data is processed by Monaco Asset Management – or by third parties selected on the basis of their reliability and competence, as well as by duly appointed data controllers – solely for the purposes specified in this Policy, mainly by means of computer tools, but also on paper.
Monaco Asset Management retains the Data for as long as necessary for the fulfilment of the Purposes for which it was collected and in accordance with the regulations applicable to the Services.
Similarly, Monaco Asset Management deletes or anonymizes personal data (or takes equivalent measures) as soon as they are no longer necessary to achieve the Purposes, subject however (i) to legal or regulatory requirements applicable to the data retention for a longer period of time, or (ii) to ascertain, exercise and / or defend actual or potential rights in legal proceedings, investigations or similar proceedings, including legal holds that Monaco Asset Management might impose to preserve relevant information.
Security measures are applied to prevent the risk of loss of data, unlawful or improper use and unauthorized access.
Profiling
Monaco Asset Management may evaluate certain characteristics of the Clients and Related Persons based on automatically processed Data in order, in particular, to offer them personalized offers and advice or information about its Services. Monaco Asset Management may also use technologies to identify the level of risk associated with a specific Subject or Business Relationship activity.
In contrast, Monaco Asset Management does not use automated decision making in relation to a Business Relationship, a Client, or a Related Person.
Access to Data and Data Transfers
The Data transmitted to Monaco Asset Management will be known and used by Monaco Asset Management employees for the sole purpose of performing the Services that constitute the purpose for which the Data was collected.
As part of the performance of the Services, Monaco Asset Management may transmit the Data to third parties, in particular to custodian banks or national and international tax authorities, in accordance with fiscal reporting obligations.
The transmission of data to third parties abroad is alternatively based on (i) an adequacy decision based on the list of countries whose data protection legal standards are approved by the European Commission, (ii) appropriate safeguards or (iii) a waiver for specific situations (execution of a mandate related to the Services offered by Monaco Asset Management, in particular).
Monaco Asset Management does not sell or rent the Data to any third party.
Finally, Monaco Asset Management may have to share the personal data:
- To put the needed Service at the Clients disposal;
- Where permitted or required by law to comply with a valid legal process;
- To protect and defend Monaco Asset Management ‘s rights or property, including the security of its products and services;
- To protect the personal safety, property or other rights of the public, Monaco Asset Management or its clients or employees; or
- In connection with the sale of all or part of Monaco Asset Management’s operations.
When Monaco Asset Management has the legal obligation to disclose Data to third parties, Monaco Asset Management will take all commercially reasonable steps to notify the Clients in advance, unless otherwise required by law. If Monaco Asset Management engages in a process of merging, acquiring or selling assets, Monaco Asset Management will comply with this Notice.
Privacy, Security and Data Protection
Monaco Asset Management undertakes to ensure that there are adequate levels of protection of Data, in particular those relating to banking secrecy and data protection.
Clients’ Data will be transmitted to and stored on Monaco Asset Management’s servers, access to which is strictly limited. Monaco Asset Management has taken the appropriate technical and organizational precautions to ensure that its servers are accessible exclusively to duly authorized persons, as well as special precautions about the protection of its technical environment.
Rights of the Clients
In accordance with the applicable regulations, Clients may exercise the following rights with respect to their data in connection with the processing of Data:
- Right to request access to stored Data;
- Right to request the rectification of stored Data;
- Right to request the deletion of stored Data, subject to the applicable legal provisions on data retention;
- Right to request a limitation of the processing of stored Data, subject to the applicable legal provisions regarding the processing of data; and
- Right to request a prohibition on the processing of stored Data, subject to the applicable legal provisions regarding the processing of data.
Even if a Client contests the processing of its Data, Monaco Asset Management is entitled to continue such processing if it is (i) legally binding, (ii) necessary for the performance of the Contract to which the Client is party, (iii) necessary for the performance of legal obligations in compliance with proceeding of public interest or (iv) necessary for the legitimate interests that Monaco Asset Management pursues, including the finding, exercise or defence of a right in justice.
The Client has the right to require Monaco Asset Management to protect their data. Monaco Asset Management works tirelessly to protect itself and its users from unauthorized access, alteration, disclosure or destruction of information that is held.
More specifically:
- Monaco Asset Management respects this Notice in all circumstances with respect to all Data that Monaco Asset Management collects about the Client concerned;
- Monaco Asset Management limits the use and disclosure of Data and ensures that anyone with whom Monaco Asset Management shares this information will treat it with the confidentiality and security it deserves;
- Monaco Asset Management has implemented physical, technical and administrative procedures to protect the information collected.
Communication and Remarks
If you have any questions about Monaco Asset Management’s data protection, a detailed message can be sent to:
administration@monacoasset.com
or via post-mail to:
Monaco Asset Management S.A.M.
For the attention of the Data Protection Officer (DPO)
27 boulevard Princesse Charlotte
98000 MONACO
Principality of Monaco
and Monaco Asset Management will address them as soon as possible.
You may exercise any of your rights related to Personal Data by sending your request to the aforementioned address.
Monaco Asset Mangement’s business is constantly evolving and this Notice and the Terms of Service may change. Unless otherwise stated, our Notice applies to the use of all information collected about any Client.