Harbour Wealth Management is GDPR Compliant
This Privacy Notice explains how we collect, use and disclose your personal data, and your rights in relation to the personal data we hold.
Your privacy is important to us and we know that you are concerned about how we use your personal data. Harbour Wealth Management Ltd (in this Privacy Notice, “Harbour”, “us”, “we” and “our”) collects and processes your personal data according to this Privacy Notice.
Some terms defined
For the purposes of this Privacy Notice, “Client” (or “you”) is to be given its widest possible interpretation and includes, but is not limited to, any natural person being a past, present or prospective client or customer of Harbour for the provision of products and/or services. the Client also includes any natural person associated with or connected to a non-natural past, present, or prospective customer of Harbour and whose personal data that Harbour collects and uses as a result of this association or connection. The Client, therefore, includes any natural person associated with or connected to a trust, company, foundation, or any other legal or non-legal entity, structure or body to whom Harbour provides a product and/or service (e.g. a human director, shareholder, account signatory, trustee, protector, beneficiary).
“Personal data” is information which identifies an individual person or from which an individual person is identifiable.
By “processing” we mean everything we can do with this data such as collecting it, recording, storing, adjusting, organising, using, disclosing, transferring or deleting.
How we collect your data
We collect your personal data in a number of ways, for example:
From the information you provide to us when you meet us;
From information about you provided to us by your company or an intermediary;
When you communicate with us by telephone, fax, email or other forms of electronic communication. In this respect, we may monitor, record and store any such communication;
When you complete (or we complete on your behalf) client on-boarding or application or other forms;
From your agents, advisers, intermediaries, and custodians of your assets;
From publicly available sources or from third parties, most commonly where we need to conduct background checks about you.
The categories of personal data we collect
We collect the following categories of personal data about you:
Your name and contact information such as your home or business address, email address and telephone number;
Biographical information which may confirm your identity including your date of birth, tax identification number and your passport number or national identity card details, country of domicile and/or your nationality;
Information relating to your financial situation such as income, expenditure, assets and liabilities, sources of wealth, as well as your bank account details;
Information about your knowledge and experience in the investment field;
An understanding of your goals and objectives in procuring our services;
Information about your employment, education, family or personal circumstances, and interests, where relevant;
Information to assess whether you may represent a politically exposed person or money laundering risk.
The personal data mentioned above is an indicative list only and not exhaustive.
We usually collect your personal data directly from you. However, sometimes we may need to collect personal data about you from third parties for the purposes described below. The circumstances in which we may need to do this include, for example, where we need information from a third party to assist us to process an application (such as to verify the information you have provided or to assess your circumstances) or to assist us to locate or communicate with you.
The basis for processing your personal data (other than with your consent), how we use that personal data and whom we share it with
(i) Performance of a contract with you
We process your personal data because it is necessary for the performance of a contract to which you are a party or in order to take steps at your request prior to entering into a contract.
In this respect, we use your personal data for the following:
Undertaking searches, taking up references and making such other enquiries as we deem necessary, for the purposes of verifying the client’s identity;
To prepare a proposal for you regarding the services we offer;
To provide you with the services as set out in our Client Agreement with you or as otherwise agreed with you from time to time;
To deal with any complaints or feedback you may have;
For any other purpose for which you provide us with your personal data.
In this respect, we may share your personal data with or transfer it to the following:
Your agents, advisers, intermediaries, and custodians of your assets;
Third parties whom we engage to assist in delivering the services to you (including any agent, introducer, depository, administrator, stock exchange, clearing or settlement system, account controller or other participant in the relevant system, counterparties, dealers, custodians, intermediaries and others where disclosure is intended for the purpose of effecting transactions in connection with a client agreement or establishing a relationship with a view to such transactions);
Our professional advisers where it is necessary for us to obtain their advice or assistance, including lawyers, accountants, IT or public relations advisers;
Other third parties such as intermediaries who we introduce to you. We will wherever possible tell you who they are before we introduce you;
Our data storage providers.
(ii) Legitimate interests
We also process your personal data because it is necessary for our legitimate interests, or sometimes where it is necessary for the legitimate interests of another person.
In this respect, we use your personal data for the following:
For marketing to you. In this respect, see the separate section on Marketing below;
For the administration and management of our business, including recovering money you owe to us, and archiving or statistical analysis;
Seeking advice on our rights and obligations, such as where we require our own legal advice.
In this respect we will share your personal data with the following:
Our advisers or agents where it is necessary for us to obtain their advice or assistance;
With third parties and their advisers where those third parties are acquiring, or considering acquiring, all or part of our business.
(iii) Legal obligations
We also process your personal data for our compliance with a legal obligation which we are under.
In this respect, we will use your personal data for the following:
Meeting legal and regulatory requirements, such as for the prevention of money-laundering, terrorism, fraud, tax evasion, bribery and corruption or other crimes. Various local and international laws may expressly require us to collect/and or disclose your personal data, or we may need to do so in order to be able to comply with other obligations under those laws. Such laws include DFSA “Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module”, UAE “Federal Law No. 4 of 2002 regarding Criminalisation of Money Laundering”, UAE “Federal law No. 7 of 2014 on Combatting Terrorism Offences” (for example, to comply with identity verification requirements), and other regulatory legislation (for example, requiring us to maintain client and transaction records), the DIFC Law No. 2 of 2018 “Common Reporting Standard Law”, “UAE/US Inter-Governmental Agreement” (regarding FATCA) and other taxation laws (for example, to comply with reporting obligations or information requests);
As required by regulatory, monetary, tax or fiscal authorities or any competent court or legal authority.
In this respect, we will share your personal data with the following:
Our advisers where it is necessary for us to obtain their advice or assistance;
Our auditors where it is necessary as part of their auditing functions;
With third parties who assist us in conducting background checks;
With relevant regulatory, monetary, tax or fiscal authority or law enforcement agencies where we are required to do so.
We will send you marketing about similar services we provide, as well as other information in the form of alerts, newsletters, and invitations to events or functions which we believe might be of interest to you.
We will communicate this to you in a number of ways including by post, telephone, email, SMS or other digital channels.
If you object to receiving marketing from us at any time, kindly contact us.
Transfer and processing of your personal data
When sharing your personal data with third parties as set out in this Privacy Notice, some of the recipients may be located outside UAE/DIFC. While t is not reasonably practicable to list all of the countries to which your information may be disclosed from time to time, it is likely that such countries may include Malta, Portugal, Romania, Switzerland and the United States of America.
However, your personal data will only be transferred outside UAE/DIFC on one of the following bases:
The jurisdiction where we send the personal data is providing an adequate level of protection for personal data;
The DIFC Data Protection Commissioner has granted a permit or written authorisation for the transfer or the set of transfers and we apply adequate safeguards with respect to the protection of this personal data;
You have explicitly consented to the proposed transfer;
The transfer is necessary for the performance of a contract between you and us or the implementation of pre-contractual measures taken in response to your request;
The transfer is necessary for the conclusion or performance of a contract concluded in your interest between us and a third party;
The transfer is necessary or legally required on grounds important in the interests of the DIFC, or for the establishment, exercise or defence of legal claims;
The transfer is necessary in order to protect your vital interests;
The transfer is necessary to uphold our legitimate interests recognised in the international financial markets, provided that such is pursued in accordance with international financial standards and except where such interests are overridden by your legitimate interests of relating to your particular situation;
The transfer is necessary to comply with any regulatory requirements, auditing, accounting, anti-money laundering or counter terrorist financing obligations or the prevention or detection of any crime that apply to us.
To find out more about transfers by us of your personal data outside the DIFC and the countries concerned kindly contact us.
How we protect your personal data
We apply an internal framework of policies and minimum standards across all our business to keep your data safe. These policies and standards are periodically updated to keep them up to date with regulations and market developments. More specifically and in accordance with the law, we take appropriate technical and organisational measures (policies and procedures, IT security etc.) to ensure the confidentiality and integrity of your personal data and the way it is processed
We train people who work for us on how to handle personal data appropriately and we restrict access to what is necessary for specific job functions.
In addition, our employees are subject to confidentiality and may not disclose your personal data unlawfully or unnecessarily.
Retention of your data
We will only retain your personal data for as long as we have a lawful reason to do so. In particular:
Where we have collected your personal data as required by anti-money laundering legislation, including for identification, screening and reporting, we will retain that personal data for six years after the termination of our relationship, unless we are required to retain this information by another law or for the purposes of court proceedings;
Otherwise, we will in most cases retain your personal data for a period of six years after the termination of our contractual or other relationship with you in case any claims arise out of the provision of our services to you.
We respect your rights as a customer to determine how your personal data is used. These rights include the right to:
Obtain access to, and copies of, the personal data that we hold about you;
Require us to correct the personal data we hold about you if it is incorrect;
Require us to erase your personal data;
Require us to restrict our data processing activities;
Require that we cease processing your personal data if the processing is causing you damage or distress;
Ask us to transfer your personal data directly to you or to another company. This applies to personal data we process by automated means and with your consent or on the basis of a contract with you. Where technically feasible, we will transfer your personal data;
Require us not to send you marketing communications.
Please note that the above rights are not absolute, and we may be entitled to refuse requests where exceptions apply.
Your duty to provide data
There is certain information, including personal data, which we must know about you so that we can commence and execute our services and fulfill our associated contractual duties. There is also information, including personal data, which we are legally obliged to collect. Without this data, we may not be able to open an account for you or provide certain services.
Harbour is a data controller in relation to your personal data and is committed to complying with the relevant data protection laws.
If you have any questions about how we use your personal data, or you wish to exercise any of the rights set out above, please contact us:
Per post: Index Tower, Level 05, Unit 520, PO Box 506876, DIFC, Dubai, UAE
Per email: firstname.lastname@example.org
Telephone: +971 4 2244245
If you are not satisfied with how we are processing your personal data, you can make a complaint to the DIFC Data Protection Commissioner (email@example.com).
You can find out more about your rights at https://www.difc.ae/laws-regulations/data-protection.
Need more details?
The information herein contained, including any terms and conditions presented (the information) has been prepared and distributed by Harbour Wealth Management (HWM) and is directed at Clients (non-retails costumers) who qualified as either professional clients (as defined in DFSA’s rule book, glossary module (“GLO”) or Market Counterparties (cf.GLO) enacted by Dubai Financial Services Authority (‘DFSA’). This document is being furnished to the intended recipient solely for information purposes. Any investments carry its own risks; the investor must be aware of the risks posed by an investment (Cf. GLO) and is fully responsible for the risks incurred. The information is not and cannot be understood as impartial investment research. HWM does not guarantee the accuracy or completeness of the information and the opinions expressed herein are HWM’s opinions at the moment they are conveyed only and are subject to change without prior notice. This document cannot be reproduced, in whole or in part, in any form or by any means without HWM’s specific authorization and any distribution of the information on behalf of HWM is strictly prohibited. Neither this document nor any copy hereof may be sent or taken or transmitted into or distributed, directly, or indirectly, in any jurisdiction other then Dubai International Financial Centre. Any failure to comply with this restriction may constitute a violation of the laws of the jurisdiction where the document is being redistributed. This document does not constitute or form part of, and should not be construed as, any offer for sale or subscription of or solicitation of or invitation to make any offer to purchase or subscribe for any financial products or services and neither this document nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever. HWM does not accept any kind of liability for losses or damages which may arise from the use of this document or its contents nor for the unlawful reproduction and/or redistribution of the same. HWM is dully licensed and Regulated by the DFSA and is 100% owned by AFM INTERNATIONAL, a company with registered address at Level 3, Sky Parks Business Centre, Malta International Airport, Luqa, Malta.