Last updated on May 20th, 2018
1.Our Commitment to You
We understand the importance of maintaining the confidentiality and privacy of Your Information. By entrusting us with your information, we would like to assure you of our commitment to keep such information private. We have taken measurable steps to protect the confidentiality, security and integrity of Your Information.
2.Collection of Information
If you decide to use our services and hence become our Client there is certain information that we will require from you in order to do so.
We may collect most of Your Information directly from you (in your completed due diligence Forms or other forms), and from maintaining records of information provided in the course of on-going customer service. We may also obtain information from other sources including, for example, credit reference agencies, fraud prevention agencies, banks, other financial institutions, third authentication service providers and the providers of public registers. The type of personal information we may collect can include, but is not limited to, personal details such as name, address, date of birth contact details, payment details, and bank account details, and other necessary financial information.
We may also collect Your Information in regards to your use of our website(s), such as pages visited, frequency, duration of visit and trading activities.
From time to time we may also request further information to help us improve our Service to you (if you are our Client) or our activities (if you are our Provider for Trading Data) under our relevant Agreement, as the case may be, or comply with Applicable Regulations. If you choose not to provide the information we need, we might not be able to provide you with the requested product or service.
3.Use of the Information
We will use, store, process and handle Your Personal Information (in case you are an individual) in accordance to the General Data Protection Regulations (GDPR) 2018, as amended or replaced from time to time.
Your Information (not in the public domain or already possessed by us without a duty of confidentiality) which we hold is to be treated by us as confidential and will not be used for any purpose other than in connection with the provision, administration and improvement of our Services to you or the furthering of our Agreement between us, establishing and managing your account or a relationship between us, reviewing your ongoing needs, enhancing customer service and products, giving you ongoing information or opportunities that we believe may be relevant to you, improving our relationship, anti-money laundering and due diligence checks, regulatory, audit, inspection or court order ,research and statistical purposes and for marketing purposes (according to the Agreement between us), as applicable.
By entering an Agreement with us (to become our Client), you will be consenting to the transmittal of Your Personal Information outside the European Economic Area, according to the provisions of the GDPR 2018, as amended or replaced from time to time.
We collect and process the information about you for the purposes described below based on your use of our Service. We rely on a number of lawful bases to use your information depending on the purpose. These include:
- Contract – It is necessary for us to fulfil our contractual obligations in our Terms & Conditions and to provide the Service to you
- Legal – We have a legal obligation to collect and process the information
- Legitimate interest – The processing of the information is in our or a third party’s legitimate interests and it does not impinge on your own rights for the protection of your information
- Consent – You have given us consent to process your information for a specific purpose
We predominantly process your information on the basis of our contract with you under our Terms & Conditions and under our legal obligation as a company authorised and regulated by the Financial Conduct Authority. Where we process your information based on your explicit consent or where we have a legitimate interest to do so, we have stated this below.
We use your information for the purposes outlined below.
To provide the UTI Service
We use the information collected about you to provide the Service to you as set out in our Terms & Conditions. The information used for this purpose includes personal details (your name and address for example) and any actions taken with us. We also use your email address to provide you with important service related functionality and notifications, such as account recovery, deposit and investment confirmations, and updates on investments you hold.
For customer support
We use your information to respond to any queries or requests you make to us so that we can quickly resolve any problems and answer any questions you have.
To meet our legal obligations
We are authorised and regulated by the Financial Conduct Authority. In order to comply with our legal and regulatory obligations we must retain and process your information including details about your use of the Service. This includes retaining accurate records and reporting to regulators and governmental authorities when required.
We are required to verify your identity and conduct anti-money laundering checks on you and certain transactions you may make through your account.
To investigate and help prevent security issues and abuse
We use information about you and your use of the Service to authenticate your account and monitor suspicious or fraudulent activity with UTI. We do this out of a legitimate interest to ensure the overall security of our Service, including the protection of our customers’ information and accounts, and to protect UTI and our customers from criminal activity and other security risks.
Improving our service and marketing analysis
We use your information to improve and tailor our Service so we can provide a better experience to you and other customers. It also allows us to develop new products and features that suit the needs of you and other customers. This includes analysing the use of the UTI website and overall Service, testing, researching, and letting customers provide feedback through surveys and independent reviews. It also includes making sure the UTI website and Service is optimised in the most effective manner for the devices, volume, traffic, browsers and operating systems being used by customers. We only use the minimum of personal information required to do this and only analyse results in aggregate form. We do this on the basis of our legitimate interest (and in the case of specific surveys, by consent) to improve the Service that UTI offers and grow our business while also delivering you an improving and optimised Service.
You have a right to object and to seek to restrict such processing. See the ‘Your Rights’ section for more information on how to exercise your right to object.
We may, for the purpose of administering the terms of our Agreement between us, from time to time, make direct contact with you by telephone, fax, email, or post.
If you agree, we or any of our Affiliates of the Company or any other company in our group, may make contact with you from time to time, by telephone, fax, email or post for marketing purposes to bring to your attention products or services that may be of interest to you or to conduct market research.
5.Disclosure of Information
Under the Agreement between us, we have the right to disclose Your Information (including recordings and documents of a confidential nature, card details) in certain circumstances. According to the Agreement between us, Your Information may be disclosed:
(a) where required by law or a court order by a competent Court;
(b) where requested by our Supervisor (the Financial Conduct Authority) or any other regulatory authority having control or jurisdiction over us or you or our associates or in whose territory we have Clients or Providers, as applicable;
(c) to relevant authorities to investigate or prevent fraud, money laundering or other illegal activity;
(d) to credit reference and fraud prevention agencies, third authentication service providers, banks and other financial institutions for credit checking, fraud prevention, anti-money laundering purposes, identification or due diligence checks of you. To do so they may check the details you supplied against any particulars on any database (public or otherwise) to which they have access. They may also use your details in the future to assist other companies for verification purposes. A record of the search will be retained by us;
(e) to our professional advisors provided that in each case the relevant professional shall be informed about the confidential nature of such information and commit to the confidentiality herein obligations as well;
(f) to other service providers who create, maintain or process databases (whether electronic or not), offer record keeping services, email transmission services, messaging services or similar services which aim to assist us collect, storage, process and use Your Information or get in touch with you or improve the provision of our Services or activities under the Agreement between us;
(g) to data reporting service providers;
(h) where necessary in order for us to defend or exercise our legal rights to any court or tribunal or arbitrator or Ombudsman or governmental authority, as the case may be;
(i) at your request or with your consent;
(j) to our employees so as to exercise their duties to further the Agreement between us, or to assure the efficient functioning of our Platform, the Automatic Orders and the Trading Data functions.
Your Information is stored on secure servers.
We limit access of Your Information only to those employees or partners that need to know the information in order to enable the carrying out of the Agreement between us.
We have procedures in place regarding how to safeguard and use Your Information, for example by requesting our Affiliates and employees to maintain the confidentiality of Your Information.
We will not keep Your Information for any longer than is required. In many cases, information must be kept for considerable periods of time. Retention periods will be determined taking into account the type of information that is collected and the purpose for which it is collected, bearing in mind the requirements applicable to the situation and the need to destroy outdated, unused information at the earliest reasonable time. Under Applicable Regulations, we will keep records containing Client personal data, trading information, account opening documents, communications and anything else which relates to the Client for at least five years after termination of the Agreement between us. In any event, we will keep Your Information for the duration of applicable Limitation of Actions Laws as a minimum.
While we will use all reasonable efforts to safeguard Your Information, you acknowledge that the use of the internet is not entirely secure and for this reason we cannot guarantee the security or integrity of any personal data transferred from you, or to you via the internet.
We will retain your information for as long as is necessary for the purposes set out in this policy, while you remain a customer of UTI and hold money or investments within your UTI account. If you no longer hold any assets within your UTI account, you may request the removal of your account and we will delete your information unless we need to retain it for the purposes stated here. We will still retain some of your information as necessary to comply with our legal obligations, enforce our agreements and to resolve disputes or complaints. Typically we are required to keep financial account information for 6 years following closure of an account. We may also retain some of your information in anonymised form to support the development and improvement of our Service. Where we retain your information to improve our Service, we take steps to either erase or isolate specific information that identifies you and only use information in an aggregate form for statistical and research purposes to determine insights about the use of our Service.
If you want to delete your account, we will immediately remove your email address from our direct marketing list. Information collected from cookies and other tracking technologies may be retained for a period of time after you have removed the cookies.
7.How we transfer information internationally
We collect information about you and primarily store that within the EU. We may transfer, process and store your information outside of your country of residence to wherever we, or our third-party service providers operate for the purpose of providing you the Service. Some of these entities may be located in countries that do not provide an equivalent level of protection to the UK or your home country. Where required, UTI has implemented appropriate cross-border transfer solutions and safeguards to provide protection for transfers of your information in accordance with applicable data protection laws. By using our Service, and providing us information about you, you consent to the international transfer of information about you when required.
8. Your Rights
You have certain rights available to you based on how and why we are collecting and processing your information. We have summarised your rights below, how you can exercise them and any limitations but please get in contact if you have any questions. We will respond to any requests made within a reasonable timeframe.
Right of access: You have access to much of the information we hold about you within your online UTI account. This includes the ‘Profile’ section as well as the transactional and investment related information shown within your account. You can also request a copy of the information we hold about you and we will provide this to you in an accessible electronic format.
Right to rectification: You can let us know if any of the information we hold about you is incorrect or needs updating, for example if you have moved home or changed your email address. Please contact us if you need to update any of your information.
Right to erasure: In some circumstances you can request that we delete the information we hold about you if you no longer wish to be a customer of UTI. Please note, however, that we may need to retain certain information for our own records or to comply with legal obligations – please see ‘Retention’ above for more information.
Right to restrict processing: In some cases you may ask us to stop processing your information where you believe we don’t have the appropriate lawful basis to do so. This may be because an UTI account was created for you without your permission, you believe the information we hold is inaccurate or because you no longer wish to be a customer of UTI.
Right to data portability: This is the ability to request the information we hold about you in a format that would allow it to be moved to another service provider. In the case of UTi, where the investments offered can only be held on the UTI platform, there is unlikely to be a case where the information held by UTI can be used by another provider. However, if requested, we will provide the applicable information in reasonable format.
Right to object: You can object to us processing your information in some circumstances, where we are doing so based on our legitimate interests, as described above. In these cases we will provide you with our reasoning as to why we think we have a legitimate interest and why we think our processing of your information is not infringing your own rights. We will consider several factors when assessing an objection including: our users’ reasonable expectations; the benefits and risks to you, us, other users, or third parties; and other available means to achieve the same purpose that may be less invasive and do not require disproportional effort. If your objection is upheld, we will cease to process your information for this purpose unless we have compelling legitimate grounds to continue or due to a legal reason.
In the case of direct marketing emails from UTI, you can always opt out of this at any point using the unsubscribe option in any of these communications.
9.Change of Information
You may inform the Company at any time that Your Information has changed or that you wish the Company to delete information we hold about you by emailing us at email@example.com. We will change or delete Your Information in accordance to your instructions, except to the extent that we are required to hold Your Information for regulatory or legal purposes, to provide you with the Services you have requested or to maintain adequate business records.
If you have any questions regarding this policy, wish to access or change your information or have a complaint, or if you have any questions about security on our Website, you may email us at firstname.lastname@example.org.
11.General User Data
Questions about third party sites referred to in the policy can be directed to email@example.com .
12.Update of this Policy
This Policy is subject to change without notice. For this reason you are advised to look for updates from time to time. If we make material changes to this policy we will notify you here, by email, or by means of a notice to our home page.