Safeguarding personal data and customer information and using it in a lawful manner, consistent with data subjects’ expectations, is a cornerstone of Duxton Asset Management’s relationships, whether with customers, vendors, partners, employees or otherwise. To do so, Duxton Asset Management (“Duxton”) has put in place this Statement that sets forth principles and requirements governing the collection, use and disclosure of personal data and customer information. This Statement is based on current laws and regulations in Singapore.
This Statement applies to all personal data (as defined in the Singapore Personal Data Protection Act, Cap 26 of 2012 (“PDPA”)) and customer information collected, used and disclosed by Duxton, its affiliates, subsidiaries and associated entities (“Duxton Group”).
A. Collection of Personal Data
Duxton only collects personal data as may be required by laws, regulations and/or authorities (in and outside of Singapore) or that is reasonably necessary to conduct Duxton’s business. Personal data may be collected by Duxton or through a third party engaged by Duxton (such as distributors appointed by Duxton) and may be collected from the individual or through a third party.
B. Purposes for Collection, Use and Disclosure of Personal Data and Customer Information
The purposes for which personal data relating to an individual and customer information may be collected, used and disclosed are as follows:
(i) the daily operation of the services provided to customers and other individuals, including to carry out customers’ instructions or responding to queries from customers or individuals;
(ii) conducting customer due diligence checks at the time of application and at the time of regular or special reviews which normally will take place one or more times each year;
(iii) designing of financial services or related products for customer’s use;
(iv) providing of information and updates about Duxton’s products and services and related data;
(v) determining amounts owed to or by customers and collecting amounts outstanding from customers;
(vi) complying with the obligations, requirements or arrangements for disclosing and using personal data that apply to Duxton or any of its affiliates or that it is expected to comply as required by:
(1) any law binding or applying to it or its affiliates within or outside Singapore existing currently and in the future;
(2) any notifications, directives or guidelines issued by any legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers within or outside Singapore existing currently and in the future;
(3) any present or future contractual or other commitment with local or foreign legal, regulatory, supervisory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial service providers that is assumed by or imposed on Duxton or any of its affiliates by reason of its financial, commercial, business or other interests or activities in or related to the jurisdiction of the relevant local or foreign legal, regulatory, governmental, tax, law enforcement or other authority, or self-regulatory or industry bodies or associations;
(vii) complying with any obligations, requirements, policies, procedures, measures or arrangements for sharing personal data and information within Duxton and its affiliates and/or any other use of personal data and information in accordance with any group-wide programs for compliance with know-your-customer (“KYC”) obligations, sanctions or prevention or detection of money laundering, terrorist financing or other unlawful activities;
(viii) facilitating consolidated management/supervision within the Duxton Group entities including but not limited to the conduct of internal audit and the performance of risk management;
(ix) enabling an actual or proposed assignee of Duxton, or participant or sub-participant of Duxton’s rights in respect of the individual to evaluate the transaction intended to be the subject of the assignment, participation or sub-participation;
(x) processing, confirming and fulfilling customers’ and other individuals’ requests regarding Duxton’s products and services or transactions, including processing of applications for shares/units in the funds managed by Duxton;
(xi) providing or obtaining references and identification, verification and background screening purposes, including for the purposes of completing the information on the register of shareholders/unitholders of the funds managed by Duxton;
(xii) protecting and defending Duxton’s or its affiliates’ rights, interests or property;
(xiii) complying with or enforcing the terms and conditions of any contract or agreement entered into by or on behalf of Duxton or its affiliate or to which Duxton or its affiliate is otherwise bound or is obliged to observe;
(xiv) obtaining of professional advice, conducting of audit and investigations and managing of risks;
(xv) for security, business continuity, emergency contact and travel purposes;
(xvi) internal and external reporting;
(xvii) data archival and warehousing;
(xviii) in connection with grant of probate or letters of administration in respect of a deceased individual’s estate; and
(xix) all other incidental purposes relating thereto and other purposes to which the individuals or organizations may from time to time agree.
C. Disclosure of Personal Data and Customer Information
Personal data and customer information held by Duxton will be kept confidential but Duxton may provide and/or disclose such data and information to the following parties for the above purposes (whether within or outside Singapore): –
(i) any agent, contractor or third party service provider who provides administrative, telecommunications, information technology, transaction and data processing, payment or other services to Duxton in connection with the operations of its business;
(ii) any other person under a duty of confidentiality to Duxton;
(iii) the drawee bank providing a copy of a paid cheque (which may contain information about the payee) to the drawer;
(iv) any person, body or authority to whom Duxton or any of its affiliates is under an obligation or otherwise required, advised, recommended or expected to make disclosure under the requirements of any laws, rules or regulations binding on or applying to Duxton or any of its affiliates, or any disclosure under and for the purposes of any notifications, directives, guidelines or guidance given or issued by or agreement with any legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial service providers with which Duxton or any of its affiliates are obliged, required, advised, recommended or expected to comply, or any disclosure pursuant to any contractual or other commitment of Duxton or any of its affiliates with local or foreign legal, regulatory, supervisory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers, all of which may be within or outside Singapore and may be existing currently or in the future;
(v) any party giving or proposing to give a guarantee or third party security to guarantee or secure a customer’s obligations and liabilities;
(vi) any actual or proposed assignee of Duxton or participant or sub-participant or transferee of Duxton’s rights in respect of an individual or organization;
(1) Duxton Group entities;
(2) third party financial institutions, custodians, clearing houses, securities and investment services providers; and
(3) external service providers that Duxton engages;
(viii) Duxton’s professional advisers including lawyers, auditors and accountants; and
(ix) any party in respect of which such disclosure is requested and/or consented to by the individual or customer.
D. Transfer of Personal Data and Customer Information Outside of Singapore
Duxton may from time to time transfer the personal data and customer information outside Singapore for the above purposes. Such data and information may be disclosed, processed, stored or maintained in accordance with the local data protection laws, rules and regulations applicable in the relevant jurisdictions.
E. Disclosure of Personal Data of Third Parties to Duxton
Before disclosing any personal data relating to its employees, contractors and other individuals to Duxton, organizations shall ensure that those individuals are duly notified of and aware of this Statement and shall undertake and represent they have procured the consent of such individual to the collection, use and disclosure of their personal data as described in this Statement.
F. Update of Personal Data and Customer Information
Customers, and other organizations or individuals who provide, or authorize the provision of, information to Duxton undertake that such information is true, accurate and complete and shall notify Duxton in writing immediately upon any changes in personal data and customer information previously provided to Duxton.
G. Access and Correction of Personal Data
Individuals may request access or make corrections to their personal data. Duxton may charge a reasonable fee for processing of any access request. Any access and/or correction request must include sufficient details to enable Duxton to identify the individual and the personal data or correction to which the request relates and may be required to be made on Duxton’s prescribed forms.
H. Withdrawal of Consent
Customers or other individuals may withdraw consent to the collection, use and disclosure of their personal data and/or customer information. However if a customer or individual does not provide or withdraw such consent or fails to provide requisite personal data and/or customer information, Duxton may be unable to initiate or continue a relationship with the individual or organization concerned. In the case of a customer, Duxton may not be able to open or continue to maintain accounts or establish or continue providing its services or facilities, as a result of which the accounts may be terminated. Under these circumstances, Duxton reserves all rights and remedies ensuing from such termination.
I. Personal Data Retention
Duxton retains personal data and/or customer information for as long as necessary to fulfil the purposes for which such data was collected, Duxton’s business purpose or as is otherwise required under any law for the time being in force. However, this is subject to Duxton’s rights and obligations under applicable laws to ensure retention of records which may contain personal data as well as to Duxton’s archiving and record retention policies.
J. Use of “Cookies”
(i) This Statement supplements but does not supersede nor replace any other consents which may have been previously provided to us, and shall be deemed an integral part of all contracts, agreements, facility offer letters, account mandates and other binding arrangements which customers or other individuals or organizations have entered into or intend to enter into with Duxton.
(ii) This Statement may be updated from time to time to reflect changes and/or developments in data protection and other relevant laws, regulations, guidelines, codes and industry practices in Singapore. Revisions to this Statement will be published on Duxton’s website.
L. Data Protection Officer
The person to whom requests for access to or correction of personal data or withdrawal of consent for the processing of personal data or for information regarding Duxton’s policies and practices and kinds of personal data held by Duxton are to be addressed is as follows:
Duxton Asset Management Pte Ltd
40 Duxton Hill Level 4
Attention: The Data Protection Officer
Fri February 17, 2017
Mon February 6, 2017
Mon January 23, 2017
Tue January 17, 2017
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