Atria Africa

PRIVACY POLICY

1. WHO WE ARE

This Privacy Policy (“Policy”) is issued on behalf of the Atria Africa Group (“ the Group”) so when we mention “Atria”, “we”, “us” or “our” in this Policy, we are referring to the relevant company in the Group responsible for processing your data. We will let you know which entity will be the controller for your data when you purchase a product or service with us. Atria Africa is the Controller and responsible for this website (“Site”).

2. CONTACT DETAILS

If you have any questions concerning this Policy or your data protection rights, or if you would like to submit a data subject access request or submit a complaint, please do so in writing, using the details set out below:

F.A.O Data Protection Officer
Controller Name: Atria Africa
Address: c/o Open Skies Management Services Ltd, 2nd Floor Ebene House, 33 Cybercity, 72201 Ebene, Mauritius
Email address: management@atria-africa.com
Telephone number: +230 467 2545 / +230 468 10 44

You have the right to make a complaint at any time to the relevant supervisory authority for data protection issues including, but not limited to: The Mauritius Data Protection Office here.

We would, however, appreciate the chance to deal with your concerns before you approach the relevant supervisory authority so please contact us in the first instance.

3. INTRODUCTION

We respect your privacy and are committed to protecting your personal data. This Policy aims to give you information on how Atria collects and processes your personal data through your use of this Site, including any data you may provide through this Site; when you purchase our services and products or contact us in respect of our services and products through the Site or in person; or when you sign up to our publications. This Policy also outlines your data protection rights and how the law protects you. This Site is not intended for children and we do not knowingly collect personal data relating to children except for the purposes of complying with our legal obligations.

4. THE DATA WE COLLECT ABOUT YOU

We may collect, use, store and transfer different kinds of personal data about you, including:

  • 4.1 Identity Data includes first name, maiden name, last name, username, marital status, title, date of birth, gender, passport or identity document, address details (utility bills or bank statements) and tax status information.
  • 4.2 Special Data includes nationality, religious beliefs, political status and information about criminal convictions, offences and adverse media (required for performing client due diligence checks to the extent required under Applicable Law).
  • 4.3 Contact Data includes residential address, location, email address and telephone numbers.
  • 4.4 Financial Data includes bank account details, source of funds and wealth, accounts and bank statements.
  • 4.5 Transaction Data includes details about payments to and from you and other details of products and services you have purchased from us.
  • 4.6 Technical Data includes internet protocol (IP) address, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform, and other technology on the devices you use to access this Site.
  • 4.7 Profile Data includes your investment profile, your financial history, bank reference letters, your CV, your background details, information relating to regulatory status, your eligibility to make investments and your preferences.
  • 4.8 Usage Data includes information about how you use our Site, products and services.
  • 4.9 Marketing and Communications Data includes your preferences in receiving marketing from us and our third parties and your communication preferences.

We do not collect any Special Data about you on this Site.

5. HOW WE COLLECT YOUR PERSONAL DATA

We use different methods to collect data from and about you including through:

  • 5.1 Profile DataYou may give us your Identity, Contact and Financial Data by filling in forms or by corresponding with us by post, phone, email or otherwise. This includes personal data you provide when you:
    • 5.1.1 apply for our products or services;
    • 5.1.2 subscribe to our service or publications;
    • 5.1.3 request marketing to be sent to you; or
    • 5.1.4 give us feedback or contact us.
  • 5.2 Visiting our SiteOur Site does not use Cookies and therefore you may visit our Site anonymously. We will only collect Technical Data in addition to any personal data from visitors to our Site if you voluntarily submit such information to us. You can always refuse to supply personal data on the Site, except that it may prevent you from engaging in certain Site-related activities.Our Site may include links to third-party websites, plug-ins and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about you. We do not control these third-party websites and are not responsible for their privacy statements. When you leave our Site, we encourage you to read the privacy policy of every website you visit.
  • 5.3 Third parties or publicly available sources.We will receive personal data about you from various third parties (and public sources) as set out below:
    • 5.3.1 Technical Data from the following parties:
      • 5.3.1.1 analytics providers (e.g. Google);
      • 5.3.1.2 advertising networks; and
      • 5.3.1.3 search information providers such as World-Check.
    • 5.3.2 Identity and Contact Data from publicly available sources such as Companies House.

6. HOW WE USE YOUR PERSONAL DATA

We have set out below, a description of all the ways we plan to use your personal data, and which of the legal bases we rely on to do so. We have also identified what our legitimate interests are where appropriate.

Note that we may process your personal data for more than one lawful ground depending on the specific purpose for which we are using your data. Please contact us if you need details about the specific legal ground we are relying on to process your personal data where more than one ground has been set out in the table below.

Data Subject Purpose/Activity Type of Data Lawful Basis for Processing
Clients
  • To register you as a new client. We may also process personal data of individuals linked to you;
  • To establish investor eligibility.
  • Identity;
  • Special;
  • Contact;
  • Profile;
  • Financial.
  • Performance of a contract with you;
  • Necessary for our legitimate interests (to perform client due diligence checks, conflict checks, tax reporting, KYC);
  • Necessary to comply with a legal obligation.
Clients To manage our relationship with you including:

  • Process queries;
  • Asking you to update your personal data;
  • Updating you on the status of your investments;
  • Sending you updates on our performance;
  • Notifying you about changes to our terms or privacy policy.
  • Identity;
  • Special;
  • Contact;
  • Profile;
  • Financial;
  • Marketing and communication.
  • Performance of a contract with you;
  • Necessary to comply with a legal obligation;
  • Necessary for our legitimate interests (to keep our records updated).
Clients To undertake services on your behalf including:

  • Manage payments, fees and charges;
  • Collect and recover money owed to us.
  • Identity;
  • Contact;
  • Financial;
  • Transaction.
  • Performance of a contract with you;
  • Necessary for our legitimate interests (to recover debts due to us).
Clients
Potential Clients
Business Contacts
To deliver relevant content and publications to you and understand the effectiveness of our communication with you.
  • Identity;
  • Contact;
  • Profile;
  • Technical;
  • Marketing and communication.
Necessary for our legitimate interests (to provide you with information on Atria and the services we provide, to grow our business and to inform our marketing strategy).
Clients
Potential Clients
Business Contacts
To make suggestions and recommendations to you about products or services that may be of interest to you.
  • Identity;
  • Contact;
  • Profile;
  • Technical;
  • Marketing and communication.
Necessary for our legitimate interests (to provide you with information on Atria and the services we provide, to develop our products/services and grow our business).
Visitors to our Site
  • To administer and protect our business and this Site (including troubleshooting, data analysis, testing, system maintenance, support, reporting and hosting of data);
  • Business development activities.
  • Usage;
  • Technical.
  • Necessary for our legitimate interests (for running our business, provision of administration and IT services, network security, to prevent fraud) .
  • Necessary to comply with a legal obligation.

 

7. CONSENT

Generally, we do not rely on consent as a legal basis for processing your personal data.

You have the right to withdraw consent to marketing at any time by emailing us at enquiries@atria-africa.com or by replying with the word ‘Remove’ to any emails sent to you, following which, we will cease processing your data for the purpose you originally consented to. Where you opt out of receiving these marketing messages, this will not apply to personal data provided to us as a result of entering into a contract with us and as required under Applicable Law.

8. DISCLOSURE OF YOUR PERSONAL DATA

We may share your personal data with the parties set out below for the purposes set out in the table above:

  • 8.1 Internal Third Parties Other companies in the Atria Africa Group (acting as joint controllers or processors) and who are based in Mauritius, South Africa, Zimbabwe and the United Kingdom, and who provide IT, system administration, support, back-up, management and marketing services and related services as a result of entering into a contract with us.
  • 8.2 External Third Parties
      • 8.2.1 We use MailChimp (The Rocket Science Group, LLC) to manage our regular email communications to investors and subscribers. MailChimp is a US company and stores your data in the US. When you invest with us or when you subscribe to our communications, you agree to your data being stored in this way. You can review MailChimp’s privacy policy for information on how they manage user data here.
      • 8.2.2 We use Google Analytics to record certain details of visitors to our Site to monitor performance of the website.
      • 8.2.3 Other Service providers (acting as processors) based in Mauritius, South Africa, Zimbabwe and the United Kingdom who who provide IT, system administration, company secretarial, support, and back-up services.
      • 8.2.4 Professional advisers (acting as processors or joint controllers) including lawyers, bankers, auditors and insurers based in Mauritius, South Africa, Zimbabwe and the United Kingdom who provide legal, banking, accounting, insurance and consultancy services.
      • 8.2.5 Regulators and other authorities (acting as processors or joint controllers) based in Mauritius South Africa, Zimbabwe and the United Kingdom who require reporting of processing activities in certain circumstances.
  • 8.3 Other Third Parties Third parties to whom we may choose to sell, transfer or merge parts of our business or our assets. Alternatively, we may seek to acquire other businesses or merge with them. If a change happens to our business, then the new owners may use your personal data in the same way as set out in this Policy.

We require all third parties to whom we disclose your personal data to respect the security of your personal data and to treat it in accordance with our standards of data protection and Applicable Law. We do not allow our third-party service providers to use your personal data for their own purposes and only permit them to process your personal data for specified purposes, on a strict need-to-know basis and in accordance with our documented instructions.

9. INTERNATIONAL TRANSFERS

Your personal data may be transferred outside of the country of collection in the following instances:

  • 9.1 We may share your personal data within the Atria Africa Group. This will involve transferring your data outside of Mauritius, South Africa, Zimbabwe and the United Kingdom. We ensure your personal data is protected by requiring all our Group companies to follow the same rules when processing your personal data.
  • 9.2 We may share your personal data with external third parties located outside of Mauritius, South Africa, Zimbabwe and the United Kingdom. Whenever we transfer your personal data out of Mauritius, South Africa, Zimbabwe or the United Kingdom, we ensure a similar degree of protection is afforded to it by using contracts which require equivalent protection standards be adhered to.

10. DATA SECURITY

We have put in place appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered, disclosed or destroyed. In addition, we limit access to your personal data to those employees, affiliates, service providers and other third parties who have a business need-to-know. They will only process your personal data on our instructions and if they are subject to a duty of confidentiality.

We have put in place procedures to respond to any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

11. DATA RETENTION

We will only retain your personal data for as long as reasonably necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, regulatory, tax, accounting or reporting requirements. Under Applicable Law we are required to keep basic information about our clients (including Contact, Identity, Special, Financial and Transaction Data) for 7 years (Mauritius) and 5 years (United Kingdom, South Africa and Zimbabwe) after they cease being clients. However, we may retain your personal data for a longer period if required to do so under Applicable Law, in the event of a complaint or if we reasonably believe there is a prospect of litigation in respect to our relationship with you. In some circumstances you can ask us to delete your data.

12. YOUR LEGAL RIGHTS

You have the right to:

  • 12.1 Request access to your personal data by submitting a data subject access request, to determine what information we hold about you and how we process it;
  • 12.2 Request correction of the personal data we hold about you;
  • 12.3 Request deletion of your personal data where we have no legitimate reason for continuing to process it;
  • 12.4 Object to the processing of your personal data where you believe we have no legitimate reason for processing it;
  • 12.5 Request to suspend the processing of your personal data;
  • 12.6 Request the transfer of your personal data to another party;
  • 12.7 Withdraw your consent to the processing of your personal data.

Please contact us in writing if you would like to act on any of your rights as set out above. In most cases you will not be charged a fee when exercising such rights. However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we could refuse to comply with your request in these circumstances.

In order to process your request, we may need to request specific information from you to help us confirm your identity and ensure your right to exercise any of your rights. This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.

We aim to respond to requests within one month from receipt of the request. If we anticipate that it will take longer than this to respond to you (for multiple or complex requests) we may need to extend this by a further month. In such instances, we will notify you and keep you updated.

13. UPDATES TO OUR PRIVACY POLICY

We keep this Policy under regular review and we will ensure that any material changes to the Policy are communicated to you. This version was last updated on 31 July 2018.

It is important that the personal data we hold about you is accurate and current. Please keep us informed if your personal data changes during your relationship with us.

14. GLOSSARY

“Applicable Law” means all and any of the following: (i) statutes and subordinated legislation and common law; (ii) regulations; (iii) ordinances and by-laws; (iv) directives, codes of practice, circulars, guidance notices, judgments and decisions of any competent authority, or any governmental, intergovernmental or supranational agency, body, department or regulatory, self-regulatory or other authority or organization; and (v) other similar provisions, from time to time, compliance with which is mandatory for entities in the Atria Africa Group;

“Comply with a legal obligation” means processing your personal data where it is necessary for compliance with a legal obligation that we are subject to;

“Consent” means any freely given specific, informed and unambiguous indication of the wishes of a data subject, either by a statement or a clear affirmative action, by which he/she signifies his agreement to personal data relating to him/her being processed;

“Controller” means a person who or public body which, alone or jointly with others, determines the purposes and means of the processing of personal data and has decision making power with respect to the processing;

“Data subject” means an identified or identifiable natural person;

“Legitimate interest” means our interest in conducting and managing our business to enable us to give you the best service/product and the best and most secure experience. We make sure we consider and balance any potential impact on you (both positive and negative) and your rights before we process your personal data for our legitimate interests. We do not use your personal data for activities where our interests are overridden by the impact on you (unless we have your consent or are otherwise required or permitted to by applicable law). You can obtain further information about how we assess our legitimate interests against any potential impact on you in respect of specific activities by contacting us;

“Legitimate purpose” means collected for explicit, specified and legitimate purposes and not further processed in a manner incompatible with those purposes;

“Performance of a contract with you” means to ensure our ability to perform our obligations under investment contracts and other documents that form the basis of our contractual relationship with you;

“Personal data” means any information relating to an identified or identifiable natural person;

“Processor” means a person who, or public body which, processes personal data on behalf of a controller;

“Processing” means an operation or set of operations performed on personal data or sets of personal data, whether or not by automated means, such as collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction;

“Special data” means special categories of personal data or criminal conviction data including data which can reveal an individual’s racial or ethnic origin, political opinions, religious or philosophical beliefs, or trade union membership. It also includes processing of genetic data, biometric data for the purpose of uniquely identifying a natural person, data concerning health or data concerning a natural person’s sex life or sexual orientation.

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CONFLICT OF INTEREST POLICY

A. INTRODUCTION

  1. This document sets out the Conflict of Interest Management Policy for Atria Africa.
  2. Conflict of interest (“COI”) means any situation in which Atria Africa or its representatives has an actual or potential interest that may, in rendering a financial service to a client, influence the objective performance of his, her or its obligations to that client; or prevent Atria Africa or its representatives from rendering an unbiased and fair financial service to that client, or from acting in the interests of that client, including, but not limited to:
    1. a financial interest;
    2. an ownership interest; and
    3. any relationship with a third party. Third party means
      1. a product supplier,
      2. another provider,
      3. an associate of a product supplier or a provider;
      4. a distribution channel; and
      5. any person who in terms of an agreement or arrangement with a person referred to in paragraphs (a) to (d) above provides a financial interest to a provider or its representatives.
  3. The primary objectives of this Policy are to:
    1. provide guidance on the behaviours expected in accordance with Atria Africa’s standards;
    2. promote transparency and avoid business-related COI;
    3. ensure fairness in the interests of employees and Atria Africa;
    4. document the process for the disclosure, approval and review of activities that may amount to actual, potential or perceived COI; and
    5. provide a mechanism for the objective review of personal outside interests.
  4. Atria Africa is committed to ensuring that it conducts itself in accordance with good business practice. To this end Atria Africa conducts business in an ethical and equitable manner and in a way that safeguards the interests of all stakeholders to minimise and manage all real or potential COI. Atria Africa and its representative(s) must therefore avoid, disclose or mitigate where avoidance is not possible any COI between Atria Africa and a client or its representative and a client.

B. FINANCIAL INTEREST

  1. Atria Africa or its representatives may only receive or offer financial interest from or to a third party as determined by the Registrar of Financial Services Providers from time to time, and as set out in Annexure A hereto.
  2. “Financial interest” means any cash, cash equivalent, voucher, gift, service, advantage, benefit, discount, domestic and foreign travel, hospitality, accommodation, sponsorship, other incentive or valuable consideration, other than:
    1. an ownership interest; and
    2. training, that is not exclusively available to a selected group of providers or representatives on products and legal matters relating to those products; general financial and industry information; specialised technological systems of a third party necessary for the rendering of a financial service; but excluding travel and accommodation associated with that training.
  3. Atria Africa may not offer any financial interest to its representatives for giving preference to the quantity of business secured for the provider to the exclusion of the quality of the service rendered to clients; OR giving preference to a specific product supplier, where a representative may recommend more than one product supplier to a client; OR giving preference to a specific product of a product supplier, where a representative may recommend more than one product supplier to a client.

C. MECHANISMS FOR IDENTIFYING COI

  1. Identify the type of conflicts that may arise in the course of providing services.
  2. Identify which conflicts can be avoided.
  3. If a conflict cannot be avoided, assess the reasons why it cannot be avoided and manage such conflicts to mitigate the risks that could be detrimental to clients.
  4. All employees are required to disclose, both on employment and throughout the course of their employment, any interest outside of Atria’s employment that they are party to. No material conflict in this regard is allowed.
  5. All employees, including compliance officers and management, are additionally responsible for identifying any specific instances of conflict. They are required to notify their Compliance officer / Money Laundering and Reporting Officer (or Group Compliance) of any conflicts they become aware of. The Compliance officer will escalate the conflict to Group management to assess the implications of the conflict, whether the conflict can be avoided and, if avoidance is not possible, how the conflict should be managed.
  6. Specific instances of conflict may require management intervention in addition to the documented controls. These can include escalation to a management forum for a decision on how the conflict should be managed, for example, disclosure to the client or declining to act.

D. RESOLVING COI
The first and most important line of defense against COI must be by the key individuals and representatives themselves.

E. POTENTIAL COI THAT COULD AFFECT ATRIA AFRICA
The following are potential COI that could affect Atria Africa:

  1. directorships or other employment;
  2. interests in business enterprises or professional practices;
  3. share ownership;
  4. beneficial interests in trusts;
  5. personal Account Trading;
  6. professional associations or relationships with other organisations;
  7. personal associations with other groups or organizations, or family relationships;
  8. front running;
  9. rebates;
  10. kickbacks; and
  11. commission

F. MEASURES TO AVOID COI:
Atria Africa has various internal controls to manage and mitigate COI, including:

  1. Group business practices – Confidentiality and Representing the Group;
  2. Information barriers (“Chinese Walls”) – Restrictive access control to certain areas; separate IT systems and IT folders, IT access control policy and “Clean Desk” policy;
  3. Disclosure – Clear and concise disclosure to enable the recipient to fully understand its relevance; and
  4. Gifts and Entertainment Policy, which manages the disclosure and approval of the receipt of gifts and Entertainment by a representative.

G. DISCLOSURE OF COI:

  1. At the earliest reasonable opportunity, Atria Africa and its representative must, in writing, disclose to a client any COI in respect of that client including:
    1. measures taken to avoid or mitigate the conflict;
    2. any ownership interest or financial interest that the provider or representative may have or become eligible for; and
    3. the nature of the relationship or arrangements with a third party that give rise to a COI in sufficient detail to enable the client to understand the exact nature of the COI.
  2. At the earliest reasonable opportunity, Atria Africa and its representative must, in writing, inform a client of the Conflict of Interest Management Policy and how it may be accessed.
  3. Notification of an actual or potential COI should be made to a person with responsibility for the issue or area, such as the relevant management team, supervisor, head of the department or key individual.
  4. In accordance with an employee’s obligation to act in the best interest of his or her employer, it is not permissible for employees to engage in conduct that would amount to a COI with Atria Africa
  5. Staff that fail to disclose a potential or actual COI in accordance with this policy may be liable to disciplinary procedures as governed by relevant industrial awards or agreements.

H. PROCESSES, PROCEDURES AND INTERNAL CONTROLS TO FACILITATE COMPLIANCE WITH THE POLICY

  1. Every staff member must have a copy of the Conflicts of Interest Policy.
  2. If a potential COI arises, the transaction must first be discussed with management before entering into the transaction
  3. Register of conflicts of interest:
    The Compliance Officer maintains a Register of Conflicts of Interests. The Register contains the following information relating to each conflict:

    1. a description of the regulated activity in relation to which the conflict arises;
    2. the name of the client, or the description of clients, whose interests are at a material risk of damage by reason of the conflict;
    3. the nature of the conflict;
    4. if the conflict arises by reason of the involvement of an officer or employee of the Company;
    5. the measures adopted to manage the conflict;
    6. the date when the conflict was first identified; and
    7. if the conflict has ceased, the date when it ceased and the grounds for considering that it has ceased.

    Records relating to a conflict of interest will be kept on the Register until at least 6 years after the date when the conflict ceased.

I. CONSEQUENCES OF NON-COMPLIANCE WITH THE POLICY BY ATRIA AFRICA’S EMPLOYEES AND REPRESENTATIVES
Non-compliance with this Policy and the procedures described may be considered to be misconduct / disciplinary offence and will be fully investigated. Depending on the severity of such offence, employees may be subject to disciplinary action that may lead to dismissal.

J. LIST OF ALL ATRIA AFRICA’S ASSOCIATES
This list is available to approved third parties upon request.

K. NAMES OF ANY THIRD PARTIES IN WHICH THE PROVIDER HOLDS AN OWNERSHIP INTEREST
This information is available to approved third parties upon request.

L. NAMES OF ANY THIRD PARTIES THAT HOLDS AN OWNERSHIP IN THE PROVIDER
This information is available to approved third parties upon request.

M. NATURE AND EXTENT OF THE OWNERSHIP INTEREST REFERRED TO IN PARAGRAPHS K AND L
This information is available to approved third parties upon request.

ANNEXURE A – FINANCIAL INTEREST

The Registrar of Financial Services Providers issued Board Notice 58 of 2010 (BN 58) under section 15 of the Financial Advisory and Intermediary Services Act, 2002 (FAIS). BN 58 amends the General Code of Conduct for Authorised Financial Services Providers and Representatives under FAIS and determines that a financial services provider or its representatives may only receive or offer financial interest from or to a third party as follows:

    1. Commission authorised under the Long-term Insurance Act or Short-term Insurance Act;
    2. Commission authorised under the Medical Schemes Act;
    3. Fees authorised under the Long-term Insurance Act, the Short-term Insurance Act or the Medical Schemes Act, if those fees are reasonably commensurate to a service being rendered;
    4. Fees for the rendering of a financial service in respect of which commission or fees referred to in sub-paragraph (i), (ii) or (iii) is not paid, if those fees-
      1. are specifically agreed to by a client in writing; and
      2. may be stopped at the discretion of that client.
    5. Fees or remuneration for the rendering of a service to a third party, which fees or remuneration are reasonably commensurate to the service being rendered;
    6. Subject to any other law, an immaterial financial interest*; and
    7. A financial interest, not referred to under sub-paragraph (i) to (vi), for which a consideration, fair value or remuneration that is reasonably commensurate to the value of the financial interest, is paid by that provider or representative at the time of receipt thereof.

Note
* “immaterial financial interest” means any financial interest with a determinable monetary value, the aggregate of which does not exceed R1 000 in any calendar year from the same third party in that calendar year received by:

  1. a provider who is a sole proprietor; or
  2. a representative for that representative’s direct benefit; or
  3. a provider, who for its benefit or that of some or all of its representatives, aggregates the immaterial financial interest paid to its representatives.
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