Privacy & Data Protection Policy

1. Introduction

In its everyday business operations, Monex Europe Limited (Monex) makes use of a variety of data about identifiable individuals, including data about:

  • Current, past and prospective employees
  • Customers
  • Users of its websites
  • Subscribers
  • Other stakeholders

In collecting and using this data, the organisation is subject to a variety of legislation controlling how such activities may be carried out and the safeguards that must be put in place to protect it.

The purpose of this policy is to set out the relevant legislation and to describe the steps Monex is taking to ensure that it complies with it.

This control applies to all systems, people and processes that constitute the organisation’s information systems, including board members, directors, employees, suppliers and other third parties who have access to Monex systems.

2. Information About Us

2.1 Our site is operated by godaddy.com LLC, a limited company registered in the United States; whose registered address is 14455 North Hayden Rd, Suite 219, Scottsdale AZ 85260, United States.

2.2 Our site is maintained by Man Bites Dog Ltd, a private limited company registered in England under company number 5156769; whose registered address is Moore House, 13 Black Lion Street, Brighton, BN1 1ND.

2.3 Our VAT number is GB 244481995.

2.4 To exercise all relevant rights, queries or complaints please in the first instance write or call the data protection contact, who is the firms Compliance Officer by email at dataprotection@monexeurope.com, by telephone on +44 20 3650 6300, or by post at 3rd Floor, 1 Bartholomew Lane, London EC2N 2AX.

2.5 We are regulated by Financial Conduct Authority as an Authorised Payment Institution – No 463951.

2.6 We are registered as a Money Service Business with Her Majesty’s Revenue & Customs – No 12252143.

3. What Does This Policy Cover?

3.1 This privacy policy applies to anyone who interacts with Monex. Our site may contain links to other websites. Please note that we have no control over how your data is collected, stored, or used by other websites and we advise you to check the privacy policies of any such websites before providing any data to them.

4. Privacy and Personal Data Protection Policy

The General Data Protection Regulation

4.1 The General Data Protection Regulation 2016 (GDPR) is one of the most significant pieces of legislation affecting the way that Monex carries out its information processing activities. Substantial fines are applicable if a breach is deemed to have occurred under the GDPR, which is designed to protect the personal data of citizens of the European Union. It is Monex’s policy to ensure that our compliance with the GDPR and other relevant legislation is clear and demonstrable at all times.

5. Definitions

There is a total of 26 definitions listed within the GDPR, and it is not appropriate to reproduce them all here. However, the most fundamental definitions with respect to this policy are as follows:

Personal data is defined as:

“any information relating to an identified or identifiable natural person (‘data subject’); an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person;”

‘processing’ means:

“any operation or set of operations which is performed on personal data or on 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;”

‘controller’ means:

“the natural or legal person, public authority, agency or other body which, alone or jointly with others, determines the purposes and means of the processing of personal data; where the purposes and means of such processing are determined by Union or Member State law, the controller or the specific criteria for its nomination may be provided for by Union or Member State law;”

5.1 Principles Relating to Processing of Personal Data

There are a number of fundamental principles upon which the GDPR is based.

These are as follows:

1.         Personal data shall be:

(a) processed lawfully, fairly and in a transparent manner in relation to the data subject (‘lawfulness, fairness and transparency’);

(b) collected for specified, explicit and legitimate purposes and not further processed in a manner that is incompatible with those purposes; further processing for archiving purposes in the public interest, scientific or historical research purposes or statistical purposes shall, in accordance with Article 89(1), not be considered to be incompatible with the initial purposes (‘purpose limitation’);

(c) adequate, relevant and limited to what is necessary in relation to the purposes for which they are processed (‘data minimisation’);

(d) accurate and, where necessary, kept up to date; every reasonable step must be taken to ensure that personal data that are inaccurate, having regard to the purposes for which they are processed, are erased or rectified without delay (‘accuracy’);

(e) kept in a form which permits identification of data subjects for no longer than is necessary for the purposes for which the personal data are processed; personal data may be stored for longer periods insofar as the personal data will be processed solely for archiving purposes in the public interest, scientific or historical research purposes or statistical purposes in accordance with Article 89(1) subject to implementation of the appropriate technical and organisational measures required by this Regulation in order to safeguard the rights and freedoms of the data subject (‘storage limitation’);

(f) processed in a manner that ensures appropriate security of the personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisational measures (‘integrity and confidentiality’).

2. The controller shall be responsible for, and be able to demonstrate compliance with, paragraph 1 (‘accountability’).

Monex must ensure that it complies with all of these principles both in the processing it currently carries out and as part of the introduction of new methods of processing such as new IT systems.

6. Rights of the Individual

6.1 As a data subject, you have the following rights under the GDPR, which this policy and our use of personal data have been designed to uphold:

6.1.1 The right to be informed about our collection and use of personal data;

6.1.2 The right of access to the personal data we hold about you (see section 8);

6.1.3 The right to rectification if any personal data we hold about you is inaccurate or incomplete (please contact Us using the details in section 17);

6.1.4 The right to be forgotten – i.e. the right to ask us to delete any personal data we hold about you (we only hold your personal data for a limited time, as explained in section 6 but if you would like us to delete it sooner, please contact us using the details in section 9);

6.1.5 The right to restrict (i.e. prevent) the processing of your personal data;

6.1.6 The right to data portability (obtaining a copy of your personal data to re-use with another service or organisation);

6.1.7 The right to object to us using your personal data for particular purposes; and

6.1.8 Rights with respect to automated decision making and profiling.

6.2 If you have any cause for complaint about our use of your personal data, please contact us using the details provided in section 9, and we will do our best to solve the problem for you. If we are unable to help, you also have the right to lodge a complaint with the UK’s supervisory authority, the Information Commissioner’s Office.

For further information about your rights, please contact the Information Commissioner’s Office or your local Citizens Advice Bureau.

6.3 Timescales for data subject requests

These timescales are shown in Table 1.

Data Subject Request Timescale
The right to be informed When data is collected (if supplied by data subject) or within one month (if not supplied by data subject)
The right of access One month
The right to rectification One month
The right to erasure Without undue delay
The right to restrict processing Without undue delay
The right to data portability One month
The right to object On receipt of the objection
Rights in relation to automated decision making and profiling. Not specified

6.4 Consent

Unless it is necessary for a reason allowable in the GDPR, explicit consent must be obtained from a data subject to collect and process their data.Transparent information about our usage of their personal data must be provided to data subjects at the time that consent is obtained and their rights with regard to their data explained, such as the right to withdraw consent. This information must be provided in an accessible form, written in clear language and free of charge.

If the personal data are not obtained directly from the data subject, then this information must be provided within a reasonable period after the data are collected and definitely within one month.

6.5 Privacy by Design

Monex has adopted the principle of privacy by design and will ensure that the definition and planning of all new or significantly changed systems that collect or process personal data will be subject to due consideration of privacy issues, including the completion of one or more data protection impact assessments.

The data protection impact assessment will include:

  • Consideration of how personal data will be processed and for what purposes
  • Assessment of whether the proposed processing of personal data is both necessary and proportionate to the purpose(s)
  • Assessment of the risks to individuals in processing the personal data
  • What controls are necessary to address the identified risks and demonstrate compliance with legislation

Use of techniques such as data minimization and pseudonymisation should be considered where applicable and appropriate.

6.6 Transfer of Personal Data

Transfers of personal data outside the European Union must be carefully reviewed prior to the transfer taking place to ensure that they fall within limits imposed by the GDPR. This depends partly on the European Commission’s judgement as to the adequacy of the safeguards for personal data applicable in the receiving country, and this may change over time.

Intra-group international data transfers must be subject to legally binding agreements referred to as Binding Corporate Rules (BCR) which provide enforceable rights for data subjects.

6.7 Data Protection Officer

A defined role of Data Protection Officer (DPO) is required under the GDPR if an organisation is a public authority if it performs large scale monitoring or if it processes particularly sensitive types of data on a large scale. The DPO is required to have an appropriate level of knowledge and can either be an in-house resource or outsourced to an appropriate service provider.

Based on these criteria, Monex does not require a Data Protection Officer to be appointed.

6.8 Breach Notification

It is Monex’s policy to be fair and proportionate when considering the actions to be taken to inform affected parties regarding breaches of personal data. In line with the GDPR, where a breach is known to have occurred which is likely to result in a risk to the rights and freedoms of individuals, the relevant Supervisory Authority (SA) will be informed within 72 hours. This will be managed in accordance with our Information Security Incident Response Procedure which sets out the overall process of handling information security incidents.

Under the GDPR the relevant SA has the authority to impose a range of fines of up to four percent of annual worldwide turnover or twenty million Euros, whichever is the higher, for infringements of the regulations.

6.9 Addressing Compliance with the GDPR

The following actions are undertaken to ensure that Monex complies at all times with the accountability principle of the GDPR:

  •  The legal basis for processing personal data is clear and unambiguous
  •  A data protection officer is appointed with specific responsibility for data protection in the organisation
  •  All staff involved in handling personal data understand their responsibilities for following good data protection practice
  • Training in data protection has been provided to all staff
  • Rules regarding consent are followed
  • Routes are available to data subjects wishing to exercise their rights regarding personal data, and such enquiries are handled effectively
  • Regular reviews of procedures involving personal data are carried out
  • Privacy by design is adopted for all new or changed systems and processes
  • The following documentation of processing activities is recorded:
    • Organisation name and relevant details
    • Purposes of the personal data processing
    • Categories of individuals and personal data processed
    • Categories of personal data recipients
    • Agreements and mechanisms for transfers of personal data to non-EU countries including details of controls in place
    • Personal data retention schedules
    • Relevant technical and organisational controls in place

These actions will be reviewed on a regular basis as part of the management review process of the information security management system.

7. What Data Do We Collect?

Depending on your use of our site, we may collect some or all of the following personal and non-personal data:

7.1       name;

7.2       business/company name;

7.3       contact information such as email addresses and telephone numbers;

7.4       demographic information such as postcode, preferences, and interests; and

7.5       a list of URLs starting with a referring site, your activity on our site, and the site you exit to.

8. How Do We Use Your Data?

8.1 All personal data is processed and stored securely, for no longer than is necessary in light of the reason(s) for which it was first collected. We will comply with our obligations and safeguard your rights under the GDPR at all times. For more details on security see section 7, below.

8.2 Our use of your personal data will always have a lawful basis, either because it is necessary for our performance of a contract with you, because you have consented to our use of your personal data (e.g. by subscribing to emails), or because it is in our legitimate interests. Specifically, we may use your data for the following purposes:

8.2.1 Supplying our products and/or services to you (please note that we require your personal data in order to enter into a contract with you);

8.2.2 Personalising and tailoring our products and/or services for you;

8.2.3 Replying to emails from you;

8.2.4 Supplying you with emails that you have opted into (you may unsubscribe or opt-out at any time by clicking the unsubscribe link at the bottom of the email); and

8.2.5 Market research.

8.3 With your permission and/or where permitted by law, we may also use your data for marketing purposes which may include contacting you by email and/or telephone and/or text message and/or post with information, news, and offers on our products and/or services. We will not, however, send you any unsolicited marketing or spam and will take all reasonable steps to ensure that we fully protect your rights and comply with our obligations under the GDPR and the Privacy and Electronic Communications (EC Directive) Regulations 2003.

8.4 You have the right to withdraw your consent to us using your personal data at any time, and to request that we delete it.

8.5 We do not keep your personal data for any longer than is necessary in light of the reason(s) for which it was first collected. Data will, therefore, be deleted as per our internal data retention policy.

9. How and Where Do We Store Your Data?

9.1 We only keep your personal data for as long as we need to in order to use it as described above in section 6, and/or for as long as we have your permission to keep it.

9.2 Your data will only be stored within the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland, and Liechtenstein).

9.3 Data security is very important to us, and to protect your data we have taken suitable measures to safeguard and secure data collected through our site.

9.4 Steps We take to secure and protect your data including but not limited to:

9.4.1 Encryption

9.4.2 Firewalls

9.4.3 Anonymisation

10. Do We Share Your Data?

10.1 We may share your data with other companies in our group for administration, compliance or tax. This includes our subsidiaries and/or our holding company and its subsidiaries.

10.2 We may compile statistics about the use of our site including data on traffic, usage patterns, user numbers, sales, and other information. All such data will be anonymised and will not include any personally identifying data, or any anonymised data that can be combined with other data and used to identify you. We may from time to time share such data with third parties such as prospective investors, affiliates, partners, and advertisers. Data will only be shared and used within the bounds of the law.

10.3 The third-party data processors used by us and listed below are located, or we may sometimes use third-party data processors that are located outside of the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland, and Liechtenstein). Where we transfer any personal data outside the EEA, we will take all reasonable steps to ensure that your data is treated as safely and securely as it would be within the UK and under the GDPR including:

10.4 In certain circumstances, we may be legally required to share certain data held by us, which may include your personal data, for example, where we are involved in legal proceedings, where we are complying with legal requirements, a court order, or governmental authority.

11. What Happens If Our Business Changes Hands?

11.1 We may, from time to time, expand or reduce our business and this may involve the sale and/or the transfer of control of all or part of our business. Any personal data that you have provided will, where it is relevant to any part of our business that is being transferred, be transferred along with that part and the new owner or newly controlling party will, under the terms of this privacy policy, be permitted to use that data only for the same purposes for which it was originally collected by us.

11.2 In the event that any of your data is to be transferred in such a manner, you will be contacted in advance and informed of the changes. When contacted you will, however, be given a choice to have your data deleted or withheld from the new owner or controller.

12. How Can You Control Your Data?

12.1 In addition to your rights under the GDPR, set out in section 4, when or when you submit personal data via our site, you may be given options to restrict our use of your data. In particular, we aim to give you strong controls on our use of your data for direct marketing purposes (including the ability to opt-out of receiving emails from us which you may do by unsubscribing using the links provided in our emails and at the point of providing your details).

12.2 You may also wish to sign up to one or more of the preference services operating in the UK: The Telephone Preference Service (“the TPS”), the Corporate Telephone Preference Service (“the CTPS”), and the Mailing Preference Service (“the MPS”). These may help to prevent you receiving unsolicited marketing. Please note, however, that these services will not prevent you from receiving marketing communications that you have consented to receive.

13.  Right to Withhold Information

You may access certain areas of our site without providing any data at all. However, to use all features and functions available on our site you may be required to submit or allow for the collection of certain data.

14. How and Where Do We Store Your Data?

14.1 We only keep your personal data for as long as we need to in order to use it as described above in section 6, and/or for as long as we have your permission to keep it.

14.2 Your data will only be stored within the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland, and Liechtenstein).

14.3 Data security is very important to us, and to protect your data we have taken suitable measures to safeguard and secure any data we hold about you (even if it is only your email address).

15. How Can You Access Your Data?

You have the right to ask for a copy of any of your personal data held by us (where such data is held). Under the GDPR, no fee is payable, and we will provide any and all information in response to your request free of charge. Please contact Us for more details at dataprotection@monexeurope.com, or using the contact details below in section 9.

16. Our Use of Cookies and Analytics

Our site uses analytics services provided by Google Analytics, which also use Cookies. Website analytics refers to a set of tools used to collect and analyse usage statistics, enabling us to better understand how people use our Site. For more details, please refer to our cookie policy.

17. Contacting Us

If you have any questions about our site or this Privacy Policy, please contact us by email at dataprotection@monexeurope.com, by telephone on +44 20 3650 6300, or by post at Monex Europe Ltd, 3rd Floor, 1 Bartholomew Lane, London EC2N 2AX. Please ensure that your query is clear, particularly if it is a request for information about the data we hold about you (as under section 13, above).

18. Changes to Our Privacy Policy

We may change this Privacy Policy from time to time (for example, if the law changes). Any changes will be immediately posted on our Site, and you will be deemed to have accepted the terms of the Privacy Policy on your first use of our Site following the alterations. We recommend that you check this page regularly to keep up-to-date.