The EU GDPR aims to harmonize data protection law across EU Member States and introduces higher data protection standards as well as transparency of personal data collection and processing for our clients. UBS takes your privacy seriously. This privacy notice contains general information on what personal data UBS collects, what it does with that information, and what rights you have. Section 11 sets out information that is specific to the country of the UBS entity with which you have a contractual relationship. If you have any questions or comments, please contact your CRM or Informationservices@ntrs.com.
‘Personal data’ is any information that relates to an identified or identifiable natural person (rather than to a legal entity, such as a company).
As part of our commitment to protect your personal data in a transparent manner, we want to inform you:
- why and how UBS collects, uses and stores your personal data;
- the lawful basis on which your personal data is processed; and
- what your rights and our obligations are in relation to such processing.
UBS (“UBS”, “we”, “our”, or “us”) will, depending on the product or service we provide to you (if any), collect and process personal data about you including:
- personal details such as your name, identification number, date of birth, KYC documents (including a copy of your national identity card or passport), phone number physical and electronic address, and family details such as the name of your spouse, partner, or children;
- financial information, including payment and transaction records and information relating to your assets (including fixed properties), financial statements, liabilities, taxes, revenues, earnings and investments (including your investment objectives);
- tax domicile and other tax-related documents and information;
- where applicable, professional information about you, such as your job title and work experience;
- your knowledge of and experience in investment matters;
- details of our interactions with you and the products and services you use;
- any records of phone calls between you and UBS;
- where applicable, details of your nomination of a mandate;
- identifiers we assign to you, such as your client or account number, including for accounting purposes;
- when you access our Website, data transmitted by your browser and automatically recorded by our server, including date and time of the access, name of the accessed file as well as the transmitted data volume and the performance of the access, your web browser, browser language and requesting domain, and IP address (additional data will only be recorded via our Website if their disclosure is made voluntarily, e.g. in the course of a registration or request). When you visit a UBS website, that website will contain additional information about how we use your information while you are visiting that website; and
- in some cases (where permitted by law), special categories of personal data, such as your political opinions or affiliations, health information, racial or ethnic origin, religious or philosophical beliefs, and, to the extent legally possible, information relating to criminal convictions or offences.
In some cases, we collect this information from public registers (which, depending on the product or service you receive and the country of the UBS entity with which you have a contractual relationship, may include beneficial ownership and other registers), public administration or other third-party sources, such as wealth screening services, credit reference agencies, fraud prevention agencies, intermediaries that facilitate data portability, and other UBS Group entities. If applicable, more information relevant to the country of the UBS entity with which you have a contractual relationship is set out in section 11.
If relevant to the products and services we provide to you, we will also collect information about additional account holders, business partners (including other shareholders or beneficial owners), dependants or family members, representatives, and agents. Before providing UBS with this information, you should provide a copy of this notice to those individuals.
3.1 Legal basis for processing
Depending on the purpose of the processing activity (see section 3.2), the processing of your personal data will be one of the following:
(i) necessary for the legitimate interests of UBS, without unduly affecting your interests or fundamental rights and freedoms (see below);
(ii) necessary for taking steps to enter into or executing a contract with you for the services or products you request, or for carrying out our obligations under such a contract, such as when we use your data for some of the purposes in sections 3.2(a), (b) (c) and (j) below (as well as certain of the data disclosures described in section 4);
(iii) required to meet our legal or regulatory responsibilities, including when we conduct the checks referred to in section 3.2(a) below and make the disclosures to authorities, regulators and government bodies referred to in sections 3.2(g) and 4 below;
(iv) in some cases, necessary for the performance of a task carried out in the public interest;
(v) when we use special categories of personal data, necessary for establishing, exercising or defending legal claims or where the processing relates to personal data manifestly in the public domain; and
(vi) in limited circumstances, processed with your consent which we obtain from you from time to time (for instance where required by laws other than the EU GDPR).
Examples of the ‘legitimate interests’ referred to above are:
- pursuing certain of the purposes in sections 3.2(a) to 3.2(k) below;
- exercising our rights under Articles 16 and 17 of the Charter of Fundamental Rights, including our freedom to conduct a business and right to property;
- when we make the disclosures referred to in section 4 below, providing products and services and assuring a consistently high service standard across the UBS Group, and keeping our customers, employees and other stakeholders satisfied. More information about what this entails can be found in section 11; and
- meeting our accountability and regulatory requirements around the world,
in each case provided such interests are not overridden by your privacy interests.
To the extent UBS has obtained your consent to process ordinary personal data in the past in any product-specific terms and conditions for the purposes of data protection law only, UBS will no longer rely on such consent, but instead will rely on lawful grounds of compliance with a legal obligation, contractual necessity or legitimate interests (as specified in this notice), and UBS' ability to rely on that consent is hereby waived or extinguished. For the avoidance of doubt, any consent given for any other reason, for instance (and if applicable) e-Privacy (including direct marketing) or banking secrecy, remains unaffected by this paragraph. Where the personal data we collect from you is needed to meet our legal or regulatory obligations or enter into an agreement with you, if we cannot collect this personal data there is a possibility we may be unable to on-board you as a client or provide products or services to you (in which case we will inform you accordingly).
3.2 Purposes of processing
We always process your personal data for a specific purpose and only process the personal data which is relevant to achieve that purpose. In particular, we process personal data for the following purposes:
a) client on-boarding processes, including to verify your identity and assess your application (including the need for guarantees or other securitisation tools) if you apply for credit, and to conduct legal and other regulatory compliance checks (for example, to comply with anti-money laundering regulations, and prevent fraud);
b) providing products and services to you and ensuring their proper execution, for instance by ensuring that we can identify you and make payments to and from your accounts in accordance with your instructions and the product terms;
c) managing our relationship with you, including communicating with you in relation to the products and services you obtain from us and from our business partners, handling customer service-related queries and complaints, making decisions regarding your identity, tracing your whereabouts, and closing your account (in accordance with applicable law) if it remains dormant and we are unable to contact you after a period of time;
d) helping us to learn more about you as a customer, the products and services you receive, and other products and services you may be interested in receiving, including profiling based on the processing of your personal data, for instance by looking at the types of products and services that you use from us, how you like to be contacted and so on;
e) taking steps to improve our products and services and our use of technology, including testing and upgrading of systems and processes, and conducting market research to understand how to improve of our existing products and services or learn about other products and services we can provide;
f) contacting you for direct marketing purposes about products and services we think will be of interest to you, including those offered by us, UBS Group entities, and our other business partners, and facilitating competitions and promotions;
g) meeting our on-going regulatory and compliance obligations (e.g. laws of the financial sector, anti-money-laundering and tax laws), including in relation to recording and monitoring communications, disclosures to tax authorities, financial service regulators and other regulatory and governmental bodies, and investigating or preventing crime;
h) undertaking transactional and statistical analysis, and related research;
i) for the UBS Group’s prudent operational management (including credit and risk management, insurance, audit, systems and products training and similar administrative purposes); and
j) any other purposes we notify to you from time to time.
4.1 With the UBS Group
We usually share personal data with other UBS Group companies in order to ensure a consistently high service standard across our group, and to provide services and products to you. More information about the UBS Group companies who receive your personal data can be found in section 11.
4.2 Third Parties
When providing products and services to you, we will share personal data with persons acting on your behalf or otherwise involved in the provision of the type of product or service you receive from us, including, where relevant the following types of companies. Examples of these companies that are relevant to your country are set out in section 11 below:
- payment recipients, beneficiaries, account nominees, intermediaries, and correspondent and agent banks;
- specialised payment companies or institutions such as SWIFT;
- upstream withholding agents;
- any third-party fund manager who provides asset management services to you; and
- Fund administrators, custodians/depositaries or transfer agents
- Competent tax authorities
4.3 Service providers
In some instances, we also share personal data with our suppliers, including UBS Group companies and other business partners who provide services to us, such as IT and hosting providers, marketing providers, communication services and printing providers, fraud prevention, and others. When we do so we take steps to ensure they meet our data security standards, so that your personal data remains secure. Examples of these companies that are relevant to your country are set out in section 11 below.
4.4 Public or regulatory authorities
If required from time to time, we disclose personal data to public authorities, regulators or governmental bodies, including when required by law or regulation, under a code of practice or conduct, or when these authorities or bodies require us to do so.
- If our business is sold to another organisation or if it is re-organised, personal data will be shared so that you can continue to receive products and services. We will usually also share personal data with prospective purchasers when we consider selling or transferring part or all of a business. We take steps to ensure such potential purchasers keep the data secure.
- If you exercise your right to data portability, we will usually disclose your personal data to an intermediary that facilitates data portability in accordance with applicable law and regulations.
- We will disclose personal data where required to exercise or protect legal rights, including ours and those of our employees or other stakeholders, or in response to requests from individuals or their representatives who seek to protect their legal rights or such rights of others.
The Recipients referred to in section 4 above can be located outside the European Economic Area. In those cases, except where the relevant country has been determined by the European Commission to provide an adequate level of protection, UBS requires such recipients to comply with appropriate measures designed to protect personal data contained within a binding legal agreement. A copy of these measures can be obtained by contacting the Data Protection Officer (“DPO”) at the address at the end of this notice.
A list of the countries in which UBS operates (inside and outside the EEA) can be found here: https://www.ubs.com/global/en/legalinfo2/uk/data-privacy-notice.html. Details of other countries to which UBS may transfer your data from your country, and the reasons for those transfers, are set out in section 11 below.
We will only retain personal data for as long as necessary to fulfil the purpose for which it was collected or to comply with legal, regulatory or internal policy requirements. To help us do this, we apply criteria to determine the appropriate periods for retaining your personal data depending on its purpose, such as proper account maintenance, facilitating client relationship management, and responding to legal claims or regulatory requests. Examples of retention periods that are specific to your country are set out in section 11
You have a right to ask UBS to rectify inaccurate personal data we collect and process and the right to request restriction of your personal data pending such a request being considered.
Where we process your personal data on the basis of your consent, you have the right to withdraw that consent at any time. Please also note that the withdrawal of consent shall not affect the lawfulness of processing based on consent before its withdrawal.
You have a right to ask us to stop processing your personal data, or to request deletion of your personal data (known as the ‘right to be forgotten’) – these rights are not absolute under the EU GDPR (as sometimes there may be overriding interests that require the processing to continue, for example), but we will consider your request and respond to you with the outcome. When personal data are processed for direct marketing purposes, your right to object extends to direct marketing, including profiling to the extent it is related to such marketing. You may object to direct marketing by clicking the "unsubscribe" link in any of our emails to you, or by emailing your CRM or The Transfer Agent at Informationservices@ntrs.com at any time.
Where we process your personal data on the basis of your consent, or where such processing is necessary for entering into or performing our obligations under a contract with you, you may have the right to request your personal data be transferred to you or to another controller (known as the ‘data portability’ right). You also have the right to ask UBS for a copy of some or all of the personal data we collect and process about you. You can exercise the rights set out above using the details in section 8 of this notice.
If you are not satisfied with any aspect of the processing of your personal data by UBS, we would like to discuss it with you to understand how we can rectify the issue. If you would like to speak to us about our use of your personal data, you can do this: by contacting your CRM or The Transfer Agent at Informationservices@ntrs.com. If you are not satisfied with UBS’s response, you have the right to make a complaint to the data protection authority in the jurisdiction where you live or work, or in the place where you think an issue in relation to your data has arisen.
We have in place appropriate technical and organisational measures to prevent unauthorised or unlawful access to the personal data you have provided to us. As complete data security cannot be guaranteed for communication via e-mails, instant messaging, and similar means of communication, we would recommend sending any particularly confidential information by an alternative secure means.
We are committed to keeping your personal data accurate and up to date. Therefore, if your personal data changes, please inform us of the change as soon as possible.
How long do we store your data?
In general, UBS will retain personal data for the period of your relationship or contract with UBS plus 6 years, reflecting the length of time for which legal claims may be made following termination of such relationship or contract.
UBS Group companies who receive your personal data
- Branches of UBS AG and UBS Business Solutions AG (in particular the London, Hong Kong, Zurich and Singapore Branches) (risk management, technological support services and relationship management);
- UBS Kraków Sp. z.o.o.and UBS Business Solutions Poland Sp. z o.o. (risk management and administrative services
- UBS Asset Management Funds Ltd
- UBS Asset Management (UK) Ltd
Third Parties who receive your personal data
- Fund administrators, custodians/depositaries or transfer agents
- Competent tax authorities
- payment recipients, beneficiaries, intermediaries, and correspondent and agent banks;
- specialised payment companies or institutions such as SWIFT;
- any third-party fund manager who provides asset management services to you; and
- public authorities, regulators or governmental bodies, including when required by law or regulation, under a code of practice or conduct, or when these authorities or bodies require us to do so.
This privacy notice was updated in May 2018. It is a notice explaining what UBS does, rather than a document that binds UBS or any other party contractually. We reserve the right to amend it from time to time. If the notice has been updated, we will take steps to inform you of the update by appropriate means, depending on how we normally communicate with you, such as through your account statement.
This website is a marketing communication. Any market or investment views expressed are not intended to be investment research. The website has not been prepared in line with the Financial Conduct Authority requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. The information contained in this website should not be considered a recommendation to purchase or sell any particular security and the opinions expressed are those of UBS Asset Management and are subject to change without notice. Furthermore, there can be no assurance that any trends described in this website will continue or that forecasts will occur because economic and market conditions change frequently.
Persons who access the material made available by UBS Asset Management (UK) Ltd at this website ("UBS website”) agree to the following:
About this site
The material on the UBS Asset Management UK Financial Advisors web site is aimed at UK Professional Clients including Financial Advisers. It is not aimed at, and must not be relied upon by, Retail Clients. This website is not directed at persons in any other jurisdiction, including the United States. This information is not an invitation to subscribe for units or shares in the funds described herein and is by way of information only.
UBS does not give investment advice or recommendations in respect of its product range.
The UK Financial Advisors web site includes both regulated and unregulated products. You should be aware that unregulated products do not carry the same degree of protection as regulated products. Unregulated schemes may only be marketed to clients in accordance with Chapter 4 of the FCA’s New Conduct of Business Sourcebook (COBS) and the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) Exemptions Order 2001, as amended.
Use of the UBS website
The entire content of this UBS website is subject to copyright with all rights reserved. You may download or print out a hard copy of individual pages and/or sections of the UBS website, provided that you do not remove any copyright or other proprietary notices. Any downloading or otherwise copying from the UBS website will not transfer title to any software or material to you. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose, the UBS website without the prior written permission of UBS.
No reliance or advice
While UBS uses reasonable efforts to obtain information from sources which it believes to be reliable, UBS makes no representation that the information or opinions contained on the UBS website is accurate, reliable or complete. The information and opinions contained in the UBS website are provided by UBS for personal use and informational purposes only and are subject to change without notice. Nothing contained on the UBS website constitutes investment, legal, tax or other advice, nor is to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.
The past is not a guide to the future performance of an investment. The value of investments may fall as well as rise and investors may not get back the amount invested. Changes in rates of foreign exchange may cause the value of investment to go up or down.
The levels of and reliefs from taxation may change. Tax reliefs referred to are those currently available and their value depends on the circumstances of the individual investor. Although an investment held within an ISA may be free of further tax to the investor, the fund itself may have incurred other forms of taxation.
- The annual management fees of the funds featured on this website may be charged wholly or partly to the capital of the fund. Where this is the case, whilst it will increase the fund’s yield, it will cause erosion of the capital value and affect the performance of the fund.
- The yield on income funds may vary and you should contact UBS or your financial adviser to obtain up to date figures.
- Some UBS funds may invest in emerging markets, this involves a high degree of risk and should be seen as long term in nature.
- Smaller companies funds may invest in companies which may be less liquid than larger companies and subsequent price swings may be greater as a result.
- Some funds may use derivatives as part of their investment process. Such instruments are inherently volatile and the fund could be potentially exposed to additional risks and costs.
Nothing on the UBS website should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.
The information and opinions contained on the UBS website is provided without any warranty of any kind, either express or implied.
Limitations of liability
In no event, including (without limitation) negligence, will UBS be liable for any loss or damage of any kind, including (without limitation) any direct, special indirect or consequential damages, even if expressly advised of the possibility of such damages, arising out of or in connection with the access of, use of, performance of, browsing in or linking to other sites from the UBS website.
The UBS Group and/or its directors, officers and employees may have or have had interests or positions or traded or acted as market makers in relevant securities. Furthermore, such entities or persons may have or have had a relationship with or may provide or have provided corporate finance or other services to or serve or have served as directors of relevant companies.
Local legal restrictions
The UBS website is not directed to any person in any jurisdiction where (by reason of that person’s nationality residence or otherwise) the publication or availability of the UBS website is prohibited. Persons in respect of whom such prohibitions apply must not access the UBS website.
Telephone calls to UBS Asset Management may be recorded for your protection.
Information provided by you will be held in confidence by UBS Asset Management Funds Ltd and its properly appointed agents and will not be passed on to other product or service companies. Your information may be used to send you information on other products and services offered by UBS Asset Management, a division and subsidiary of UBS AG. If you prefer not to receive such information please contact UBS Asset Management. The use of your personal information is governed by the Data Protection Act 1998.
All of the material on this UBS website is directed only at UK residents and is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell securities in any other jurisdiction other than the United Kingdom.
Legal and regulatory information
UBS Asset Management Funds Ltd is the ISA manager and markets unit trust and OEIC products on behalf of UBS Asset Management. The investment manager is UBS Asset Management (UK) Ltd. Both are registered in England, subsidiaries of UBS AG and are authorised and regulated by the Financial Conduct Authority. The registered office of UBS Asset Management is 5 Broadgate, London, EC2M 2QS.