Claimant Privacy Notice

CLAIMANT PRIVACY NOTICE


INTRODUCTION
This Data Protection Notice ("Notice") sets out the basis on which the Investor Compensation Company D.A.C. (“ICCL”, “we” or “us”) of c/o Central Bank of Ireland, PO Box 11517, Spencer Dock North Wall Quay, Dublin 1 uses any personal data we collect or obtain from you about third parties. This Notice is intended to: (a) notify you that personal information relating to you ("Personal Data") has been obtained and that additional Personal Data about you or about other third parties may be collected by the ICCL from you; and (b) explain how your Personal Data will be processed by the ICCL and/or on our behalf by third party service providers in the context of your engagement with us for the purposes of administering your claim. 
The ICCL collects Personal Data about you (if you are a claimant) directly from you through your engagement with the ICCL and also receives a limited amount of Personal Data from the administrator appointed to the failed firm with which you have made investments.

Please read this Notice carefully to understand how we have obtained and why we have used and will continue to use your Personal Data. For the purposes of the Personal Data collected and processed within the scope of this Notice, the controller of your Personal Data will be the Investor Compensation Company D.A.C. 


PERSONAL DATA
We have obtained the following Personal Data about you from third party sources and have set out below the sources from and circumstances in which this Personal Data has been obtained:

Administrator Data 

In the event you engage with us through the administration or liquidation of the failed firm with which you have invested. We may receive Personal Data about you from the administrator of that firm such as your name, contact details including your postal address, email address, client number, and investment information.

We may collect some or all of the following Personal Data about you directly from you in the context of our engagement with you to administer your claim and pay compensation to you.

Contact Data

We will collect certain contact and personal information from you when you complete a claimant application form such as your name, date of birth, email and postal address, telephone number, fax number (if applicable). 

Investment Data

We may also (depending on the claim form you have completed) collect the following information regarding your investments from you when you complete a claim application form: 

  • details of your failed investments (to include supporting documentation) and the circumstances in which your claim arose including details of the contract / arrangement regarding the provision of the investment services;
  • details of any compensation previously sought by you in respect of your dealings with a failed firm;
  • details of any other compensation schemes (other than with the ICCL) of which you are a beneficiary;
  • details of losses incurred by you resulting from your investment with a failed firm.

 

Personal Data of Third Parties (beneficiaries, assignors and co-claimants)

IMPORTANT NOTICE

In the event you are completing a claimant application form as a trustee, personal representative or joint claimant on behalf of the beneficiary of the trust, beneficiary of a will or your co-claimant and you disclose any or all of the Personal Data listed above relating to the beneficiary of the trust, beneficiary of the will or your co-claimant, it is your responsibility to ensure the relevant beneficiary or co- claimant is aware you are submitting his or her Personal Data and would not object to the processing of his or her Personal Data by the ICCL for the purposes set out in this Notice. Where possible, you should draw his or her attention to the content of this Notice. 

In the event you are completing a claimant application form as an assignee of a claim and you disclose any or all of the Personal Data listed above relating to the assignor of the claim, it is your responsibility to ensure the assignor is aware you are submitting his or her Personal Data and would not object to the processing of his or her Personal Data by the ICCL for the purposes set out in this Notice. Where possible, you should draw his or her attention to the content of this Notice. 

In the event you are an authorised representative acting on behalf of a claimant and you disclose any or all of the Personal Data listed above relating to the claimant, it is your responsibility not only to produce a Letter of Authority signed by the claimant but also to ensure that the claimant is aware you are submitting his or her Personal Data and would not object to the processing of his or her Personal Data by the ICCL for the purposes set out in this Notice. Where possible, you should draw his or her attention to the content of this Notice. 


Personal Identification Data

We may also (where appropriate) ask you for personal identification to verify the accuracy of the Personal Data received from the third party sources listed above.

Contact and Correspondence Data

We may also collect additional Personal Data from you when you correspond with us in the context of the ICCL administering your claim (for example by email, telephone or by post) or when you submit queries or messages to the ICCL through the website contact form. 

Metadata 

We collect information about your computer browser (some of which constitutes Personal Data) including your IP address and other information derived from cookies used on this website.  Please see our Cookies Policy for further information.  


HOW & WHY WE PROCESS YOUR PERSONAL INFORMATION
The following details the legal bases on and purposes for which we collect and process your Personal Data:

Purposes

We will primarily use your Personal Data to contact you and issue compensation to you if you are a claimant eligible for compensation under the Investor Compensation Act 1998.

We may also use your Personal Data to determine the level of contributions payable to you, to collect payments from failed investments firms under, and as otherwise necessary for the performance of the ICCL's duties under the Investor Compensation Act 1998.  

We may also use your Personal Data to respond to ad-hoc queries you submit to us from time to time and (where appropriate) to forward these queries to the relevant administrator.

We may also use your Personal Data to conduct market research surveys and to provide you with updates, news and statistics relating to the ICCL and the investor compensation scheme unless you opt out of receiving these communications.

The ICCL may also anonymise and aggregate data which it receives for its business purposes which may include the sharing of such anonymised data with third parties.


Who we share your data with:-

Service Providers, Agents & Insurance Providers
We will share your Personal Data with: (i) our service providers (e.g. website and IT support providers) in order to ensure the security and maintenance of our website and our systems to provide you with the various services available through the website; (ii) our payment processors; (iii) administrators or liquidators of failed firms, and (iv) our agents, and insurance providers for the purposes of accessing funds to make compensation payments. 

Regulatory Authorities & Comply with Legal Obligations
We may disclose your Personal Data to regulatory authorities including the Central Bank of Ireland, the Office of the Director of Corporate Enforcement, the Revenue Commissioner and the Garda Bureau of Fraud Investigation to the extent required or permitted by applicable laws.

We may also disclose your Personal Data: (i) where we have a legal obligation to do so; (ii) to enforce the website terms & conditions or other agreements or to protect our rights; and (iii) to protect the safety of users of the website or others. 

Administrator

In the event you provide Personal Data to us through submitting a query on the website contact form or by email, we may, for the purposes of responding to any such query, share your Personal Data with the administrator of the failed firm with which you have made investments.

 

Legal Basis

Legal Obligation
We will process your Personal Data in order to comply with our legal obligations under the Investor Compensation Act 1998, including our obligation to maintain compensation funds and process claims for compensation by clients of failed firms.

We may disclose your Personal Data to third parties such as the Central Bank of Ireland or any other relevant body in order to comply with EU or EU Member State law (including the Investor Compensation Act 1998).

Legitimate Interest
We process certain Personal Data on the basis of our legitimate interests, such as in pursuit of our business or security interests or our interest in responding to your queries submitted by you through the website, correspondence, and/or through an administrator.  

We also process your Personal Data to test and improve the effectiveness of our website and to monitor metrics such as numbers of visitors, traffic data and demographic patterns.
 
IMPORTANT NOTICE
Before we process your Personal Data to pursue our legitimate interests or for the above purposes, we determine if such processing is necessary and we carefully consider the impact of our processing activities on your fundamental rights and freedoms. On balance, we have determined that such process is necessary for our legitimate interests and that the processing which we conduct does not adversely impact on these rights and freedoms.

You have a right to object at any time to the processing of your Personal Data where we process your Personal Data on the legal basis of pursuing our legitimate interest or on the basis of a public interest.


Retention

We keep a record of your Personal Data for a period of 6 years from the year of maximum compensation (i.e. €20,000) paid by the ICCL to you. On this date the Personal Data held by the ICCL is reduced to key information required by the ICCL to fulfil its legal obligations under the Investor Compensation Act, 1998. This residual Personal Data will be keep by the ICCL for a period of 1 year after the year that the Liquidator is discharged from the respective failed firm.

Please note that in certain circumstances, we may hold your Personal Data for a longer period, for example, if we are processing an ongoing claim or believe in good faith that the law or a relevant regulator may reasonably in our view expect or require us to preserve your Personal Data.

Where your information is processed and stored 

Your Personal Data will be stored and processed in Ireland and may also be processed in any other country where the ICCL or its service providers maintain facilities.  In the event of international transfers, we will ensure the safe transfer of your Personal Data which will usually be by either: (i) using U.S. based service providers certified under Privacy Shield; or (ii) using standard contractual clauses approved by the European Commission.  If you would like more information about international transfers and the mechanism which we use to safeguard your Personal Data, please contact us using the details set out below ("Contacting Us").


YOUR RIGHTS 
Below sets out the rights which you have to address any concerns or queries with us about our processing of your Personal Data. Note that in certain circumstances, these rights may not be absolute.

Right to be Informed: You have the right to the information set out in this Privacy Notice: the purpose of the processing; the categories of Personal Data concerned, parties outside ICCL with whom the Personal Data is shared; what the source of the Personal Data was and for how long the Personal Data will be stored.

Right of Access: You are entitled to ascertain what type of Personal Data we hold about you and what we do with that information.  You are also entitled to receive a copy of this information.

Right to Rectification: You have a right to have any inaccurate Personal Data which we hold about you updated or corrected. 

Right to Restrict Use: You have a right to stop us from using your Personal Data in certain cases, including if you believe that the Personal Data we hold about you is inaccurate or our use of your information is unlawful.  If you validly exercise this right, we will store your Personal Data and will not carry out any other processing until the issue is resolved. 

Right to Object: Where we rely on a legitimate interest or public interest to use your Personal Data, you have a right to object to this use.  We will desist from processing your Personal Data unless we can demonstrate overriding legitimate grounds for the continued processing of your Personal Data.

Right to Erasure: In certain circumstances, you may also have your Personal Data deleted, for example if you exercise your right to object (see above) and we do not have any overriding reason to process your Personal Data or if we no longer require your Personal Data for the purposes set out in this notice.

We will provide you with information on any action taken upon your request in relation to any of these rights without undue delay and at the latest within one month of receiving your request. We may extend this up to 2 months if necessary however we will inform you if this arises. Please note that we may ask you to verify your identity when you seek to exercise any of your data protection rights.


CONTACTING US
For any other queries relating to this Notice or more general data protection queries, please contact us at info@investorcompensation.ie or alternatively by post at The Investor Compensation Company D.A.C, c/o Central Bank of Ireland, PO Box 11517, Spencer Dock, North Wall Quay, Dublin 1.


COMPLAINTS
If you are not satisfied with any response you receive from us or have any further issue relating to the manner in which we handle your personal information, you can make a complaint to the Office of the Data Protection Commission in Ireland.  For more information, please see www.dataprotection.ie.


CHANGES TO THIS NOTICE 
The ICCL may occasionally update this privacy notice to reflect changes in its business or to comply with applicable law and regulations.  If there are material changes to this privacy notice concerning how the ICCL uses your Personal Data, we will notify you by either prominently posting a notice of such changes on the website before they take effect or by directly sending you a notification to the email address that we hold.