Equitimax recognises the importance of ensuring that its clients have confidence in the way Equitimax handles personal information.
Equitimax is bound by, and committed to, the terms of the Privacy Act 1988 and the National Privacy Principles (NPP) forming part of that Act. Since March 2014 the NPP has been replaced by the Australian Privacy Principles (APP).
Unless clients state otherwise, the Privacy Act permits Equitimax to share the personal information which it holds with all of its companies. If related companies are entitled to use that personal information, they may only do so for the purposes for which the personal information was collected.
2. What is Personal Information?
Personal information is any information about a client, that identifies the client or by which the client’s identity can reasonably be ascertained.
- Equitimax will only collect information about a client that is necessary in order to adequately provide the services the client has requested.
- The use or disclosure of personal information collected by Equitimax is subject to approval by its Compliance Dept.
- Equitimax may be requested by regulators to provide certain personal information about clients, and is by law obligated to provide such information.
- Clients can request to review personal information held by Equitimax by contacting their advisor or Equitimax Compliance Dept.
3. What Kinds of Personal Information does Equitimax Collect and Retain?
Equitimax only collects personal information that is necessary for one or more of its functions or activities.
Equitimax is subject to certain legislative and regulatory requirements which necessitate it obtaining and holding detailed information which personally identifies the clients and/or contains information or an opinion about clients (“Personal Information”).
Equitimax will not collect any Personal Information about a client except when the information provided to Equitimaxis authorised by a client or a third party to provide that information. Generally, collection of personal information will be obtained in either face-to-face interviews, over the telephone or by way of a Client Agreement Form. From time to time additional and/or updated personal information may be collected through one or more of those methods.
In order to provide clients with a comprehensive advisory and dealing service in financial products, and to have a reasonable basis for recommendations made, Equitimax may request personal information to:
- determine credit worthiness;
- assist the client in gaining an understanding of a financial product;
- make financial products recommendations;
- execute financial products transactions on behalf of a client;
- clear and settle financial products transactions on a client’s behalf;
- invest in financial products on behalf of a client
4. How is Personal Information Collected?
Most information we hold about clients is collected from the Client Agreement Form and through the Know Your Client (KYC) process. Information may also be collected over the phone or via the internet. Sometimes, information about an individual is collected from other people or organisations. For example, information about a director of a corporate customer may be obtained from a public record relating to the company.
Regardless of how it is collected, all personal information is handled in accordance with this Privacy
5. Use and Disclosure of Personal Information
Equitimax uses the personal information it holds in order to provide its clients with the services they request. No company within Equitimax will use or disclose Personal Information collected for any purpose other than:
(a) the purposes for which it was provided or secondary related purposes in circumstances where the client would reasonably expect such use or disclosure; or
(b) where the client has consented to such disclosure; or
(c) where the Australian Privacy Principles authorise use or disclosure where required or authorised under law, in circumstances relating to public health and safety and in connection with certain operations by or on behalf of an enforcement body.
Equitimax is required under the Corporations Act to make certain information available for inspection, on request to ensure ongoing compliance with licensing and regulatory requirements. This may involve the disclosure of Personal Information. Equitimax may also collect personal information from its suppliers in order to complete business transactions and purchase products and services.
Equitimax may disclose the clients’ Personal Information to market operators, clearers and product issuers for the purpose of giving effect to clients’ instructions and the recommendations made by Equitimax. Equitimax may disclose clients’ Personal Information to external contractors (service providers) for the following purposes:
(a) execution, clearing and settlement of Financial Products transactions
(b) registration and/or changes to shareholder detail
(c) accounting for Financial Products transactions
(d) causing statutory audits to be conducted as required by law
(e) maintenance and support of Equitimax’s information technology systems
(f) in the course of reviews by external consultants
(g) financial or legal advice
External service providers are only authorised to use personal information for the purpose for which we supplied it. Those organisations are not authorised to use that personal information for their own purposes.
It is important to note that some of the Group’s services include Funds Management and related investment advice. Providing a client with this service includes undertaking activities such as administering the client’s accounts or their investments, providing client support, responding to inquiries and requests for product information and meeting regulatory requirements.
If Equitimax is unable to collect personal information from or about an individual, it may not be able to do business with that individual or the organisation with which the individual is connected.
Equitimax may use the Personal Information collected from clients for the purpose of providing them with direct marketing material such as research that may be of interest, to inform them about new products and services or special offers from time to time. However clients may, by contacting Equitimax by any of the methods detailed below, request not to receive such information and we will give effect to that request. Please allow 2 weeks for the request to be actioned.
6. Document Storage and Security
Equitimax will at all times seek to ensure that the Personal Information collected and held is protected from misuse, loss, unauthorised access, modification or disclosure. At all times Personal Information is treated as confidential and any sensitive information is treated as highly confidential and stored securely.
Access to Equitimax’s premises is controlled by only allowing personnel with security passes to access the premises. Unauthorised persons are strictly prohibited from entering our dealing rooms. All electronic information is protected by maintaining a certified security capable Operating System i.e. access is only granted via suitable passwords on each computer.
In the event you cease to be a client of this organisation, any Personal Information which Equitimax holds about you will be maintained in a secure off site storage facility for a period of 7 years in order to comply with legislative and regulatory requirements, following which time the information will be destroyed.
7. Clients’ Access to Personal Information
Clients may at any time request access to personal information.
Equitimax will, subject to the exceptions listed below, provide access to that information either by:
- providing copies of the information requested;
- allowing clients to inspect the information requested; or
- providing an accurate summary of the information held.
Equitimax will, prior to providing access in accordance with this policy, require clients to provide evidence of identity.
Equitimax will not provide access to a client’s personal information if:
(a) providing access would pose a serious threat to the life or health of a person;
(b) providing access would have an unreasonable impact on the privacy of others;
(c) the request for access is frivolous or vexatious;
(d) the information related to existing or anticipated legal proceedings between us and would not be discoverable in those proceedings;
(e) providing access would reveal AlphaBroking’s intentions in relation to negotiations with a client in such a way as to prejudice those negotiations;
(f) providing access would be unlawful;
(g) denying access is required by law;
(h) providing access would be likely to prejudice certain operations by or on behalf of an enforcement body or an enforcement body’s requests that access not be provided on the grounds of national security.
8. Correction of Personal Information
Equitimax will endeavour to ensure that, at all times, the personal information about clients is up to date and accurate. In the event that clients become aware, or believe, that any personal information which Equitimax holds is inaccurate, incomplete or outdated, clients may contact Equitimax and provide evidence of the inaccuracy or incompleteness. Equitimax will, subject to the exceptions under section 7 above, take all reasonable steps to correct clients’ personal information.
Equitimax has implemented procedures and installed equipment to safeguard the security and confidentiality of personal information collected via our website. While it is not necessary to register a client’s personal details to use Equitimax’s website, Equitimax do offer a registration service which will enable a client to receive additional services and information. In the event that clients do register with Equitimax, personal information including the name and e-mail address will be collected.
Equitimax continually reviews these arrangements to ensure that we are doing all that is reasonably and technically feasible at the time to protect your information. Due to the nature of the Internet, Equitimax cannot guarantee that it is totally protected from hackers or misuse.
If clients have registered with Equitimax and decide, at any time, that they do not wish to receive any further information from any company within Equitimax, they can send an email to the address listed below requesting to be removed from the online registration database. Please allow two weeks for the request to be actioned.
10. Resolving Clients’ Concerns about Access to Personal Information
If clients believe that the privacy of their personal information has been compromised, clients are entitled to complain. Complaints can be made by contacting Equitimax Privacy Officer by emailing email@example.com Equitimax will respond to complaints as soon as possible. It is our intention to use our best endeavours to resolve any complaint to clients’ satisfaction, however, if you are unhappy with Equitimax’s response, clients are entitled to contact the Office of the Privacy Commissioner who may investigate your complaint further.
11. Privacy Commissioner
If an individual is not satisfied with our response to their complaint, they can complain to the Privacy Commissioner online at www.privacy.gov.au or call 1300 363 992.