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Master Privacy Notice

IQ-EQ Legal and compliance

What is the purpose of this notice?  

The IQ-EQ Group (“IQ-EQ” or “we”), being a group of entities directly or indirectly owned by the same entity, are committed to protecting the privacy and security of your personal information.

This privacy notice describes how we collect and use personal information about you during and after your business relationship with us, in accordance with locally applicable data protection legislation and (where applicable) the General Data Protection Regulation (GDPR).

It applies to all persons for whom we provide trust, company, foundation, pension, fund management and fund administration or fiduciary services and to all persons who have an interest in any entity to which such services are provided.

The entity which provides services to you, or which provides services to the entity in which you have an interest, is a “data controller”. A data controller is responsible for deciding how we hold and use personal information about you. We are required under data protection legislation to notify you of the information contained in this privacy notice.

This notice does not form part of any contract to provide services. We may update this notice at any time.

It is important that you read this notice, together with any other privacy notice we may provide on specific occasions when we are collecting or processing personal information about you, so that you are aware of how and why we are using such information.

Data protection principles  


We will comply with applicable data protection law. This requires generally that the personal information we hold about you must be:

1. Used lawfully, fairly and in a transparent way.

2. Collected only for valid purposes that we have clearly explained to you and not used in any way that is incompatible with those purposes.

3. Relevant to the purposes we have told you about and limited only to those purposes.

4. Accurate and kept up to date.

5. Kept only as long as necessary for the purposes we have told you about.

6. Kept securely.

The kind of information we hold about you  


Personal data, or personal information, means any information about an individual from which that person can be identified. It does not include data where the identity has been removed (anonymous data).

There are “special categories” of more sensitive personal data which require a higher level of protection.

We may collect, store, and use the following categories of personal information about you:

  • Personal contact details such as name, title, addresses, telephone numbers, and personal email addresses
  • Date of birth
  • Gender
  • Information on your source of wealth and source of funds (including where appropriate employment and other business related history and family connections)
  • Marital status and dependants
  • National Insurance number
  • Bank account details
  • Copy of passport and/or driving licence and/or national identity card
  • Copies of proof of residential address e.g. utility bills
  • Information about your use of our information and communications systems
  • References provided by you
  • Background check information from external sources e.g. World check
  • Information in the public domain e.g. web pages, press releases
  • CCTV footage (if you visit one of our offices which operates such security measures)

We may also collect, store and use the following “special categories” of more sensitive personal information:

  • Information about your race or ethnicity, religious beliefs, sexual orientation and political opinions
  • Information about your health, including any medical condition
  • Genetic information and biometric data
  • Information about criminal convictions and offences

How is your personal information collected?   


We typically collect personal information through the electronic or hard copy client information forms that we use to comply with anti-money laundering legislation and other applicable legislation and regulations applicable to our business.  We may sometimes collect additional information from third parties including lawyers, accountants, other professional advisers, credit reference agencies or other background check agencies. We may collect additional personal information in the course of the provision of our services.

How we will use information about you  


We will only use your personal information when the law allows us to. Most commonly, we will use your personal information in the following circumstances:

  1. Where we need to perform the contract we have entered into with you or with an entity in which you have an interest
  2. Where we need to comply with a legal obligation
  3. Where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests

We may also use your personal information in the following situations, which are likely to be rare:

  1. Where we need to protect your (or someone else’s) vital interests
  2. Where it is needed in the public interest

Situations in which we will use your personal information


We may need all the categories of information in the list above to allow us to perform our professional services and to enable us to comply with legal obligations. In some cases we may use your personal information to pursue legitimate interests of our own or those of third parties provided your interests and fundamental rights do not override those interests. The situations in which we will process your personal information are listed below.

  • Making a decision about whether to perform services on your behalf or on behalf of an entity in which you are interested
  • Determining the terms on which we are prepared to carry out such services
  • Making payments to you, and if we operate a payroll scheme of which you are part, in making relevant tax and national insurance contributions in respect thereof
  • Administering the contract we have entered into with you, or the contract we have entered in to with the entity in which you are interested
  • Business management and planning, including accounting and auditing
  • Conducting performance reviews, managing performance and determining performance requirements in respect of the professional services we provide
  • Making arrangements for the termination of our working relationship
  • Dealing with legal disputes involving you or the entity in which you are interested
  • To prevent fraud
  • To conduct data analytics studies to review and better understand client retention
  • To determine products or services offered by IQ-EQ Group may be of interest to you
  • To provide information to our professional advisers and the advisers of any party which may have, or may be interested in acquiring, an interest in the IQ-EQ Group, or part thereof
  • To provide information to our insurers or to our regulators

Some of the above grounds for processing will overlap and there may be several grounds which justify our use of your personal information.

If you fail to provide personal information


If you fail to provide certain information when requested, we may not be able to perform the contract we have entered into with you or the entity in which you have an interest (such as paying you or providing a benefit), or we may be prevented from complying with our legal obligations.

Change of purpose


We will only use your personal information for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If we need to use your personal information for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so.

Please note that we may process your personal information without your knowledge or consent, in compliance with the above rules, where this is required or permitted by law.

How we use particularly sensitive personal information   


”Special categories” of particularly sensitive personal information require higher levels of protection. We need to have further justification for collecting, storing and using this type of personal information. We may process special categories of personal information in the following circumstances:

  1. In limited circumstances, with your explicit written consent
  2. Where we need to carry out our legal obligations and in line with applicable legislation

Less commonly, we may process this type of information where it is needed in relation to legal claims or where it is needed to protect your (or someone else’s) vital interests and you are not capable of giving your consent, or where you have already made the information public.

Use of your sensitive personal information

We will use your particularly sensitive personal information in the following ways:

  • We may use information relating to your health in order to make decisions about payments to you
  • We may use information about your physical or mental health, or disability status, to ensure your health and safety if you visit one of our offices
  • We may use information about your political beliefs and affiliations as part of our obligation to determine whether you are a politically exposed person

Do we need your consent?


We do not need your consent if we use special categories of your personal information in accordance with our duty to carry out our legal obligations. In limited circumstances, we may approach you for your written consent to allow us to process certain particularly sensitive data. If we do so, we will provide you with full details of the information that we would like and the reason we need it, so that you can carefully consider whether you wish to consent.

Information about criminal convictions   


We may only use information relating to criminal convictions where the law allows us to do so. This will usually be where such processing is necessary to carry out our legal or regulatory obligations and we shall do so in line with our data protection policy.

Less commonly, we may use information relating to criminal convictions where it is necessary in relation to legal claims, where it is necessary to protect your interests (or someone else’s interests) and you are not capable of giving your consent, or where you have already made the information public.

Automated decision-making  

Automated decision-making takes place when an electronic system uses personal information to make a decision without human intervention. We are allowed to use automated decision-making in the following circumstances:

  1. Where we have notified you of the decision and given you any days required by applicable law to request a reconsideration
  2. Where it is necessary to perform the contract with you or the entity in which you have an interest and appropriate measures are in place to safeguard your rights
  3. In limited circumstances, with your explicit written consent and where appropriate measures are in place to safeguard your rights

If we make an automated decision on the basis of any particularly sensitive personal information, we must have either your explicit written consent or it must be justified in the public interest, and we must also put in place appropriate measures to safeguard your rights.

You will not be subject to decisions that will have a significant impact on you based solely on automated decision-making, unless we have a lawful basis for doing so and we have notified you.

We do not envisage that any decisions will be taken about you using automated means, however we will notify you in writing if this position changes.

Data sharing  


The data controller which collects your personal information may have to share your data with third parties, including third-party service providers and other entities in the IQ-EQ Group.

We require third parties to respect the security of your data and to treat it in accordance with the law.

We may transfer your personal information outside the jurisdiction of your residence or the jurisdiction in which the data controller operates and to countries outside the EU.

If we do, you can expect a similar degree of protection in respect of your personal information.

Why might you share my personal information with other entities within IQ-EQ ?


We will share your personal information with other entities in our group as part of our regular reporting activities on company performance, in the context of a business reorganisation or group restructuring exercise, to permit the centralisation of certain group wide services such as IT or Risk, for system maintenance support and hosting of data, where it is necessary for the efficient administration of our working relationship with you or where we consider it to be in the legitimate interests of the IQ-EQ Group as a whole. 

The following activities are carried out centrally: Management of Risk, Marketing, Group Accounting and Business Planning, some elements of our IT provision and some elements of our client on boarding, administration and accounting activities.  In addition, all data held by data controllers is backed up on a server owned by a different member of the IQ-EQ Group in order to provide additional security against IT failure or temporary or permanent loss of access to the information held. 

Why might you share my personal information with third parties?


We may share your personal information with third parties where required by law, where it is necessary to administer the working relationship with you or where we have another legitimate interest in doing so.

Which third-party service providers process my personal information?


”Third parties” includes third-party service providers including Lawyers, Accountants, designated Agents, Insurance Companies, Banks, and other Custodians and Wealth Managers. The following activities may be carried out by third-party service providers: legal and taxation advice, data management and destruction, elements of our IT provision.

How secure is my information with third-party service providers and other entities in our group?


All our third-party service providers and other entities in the group are required to take appropriate security measures to protect your personal information in line with our policies. We do not allow our third-party service providers to use your personal data for their own purposes. We only permit them to process your personal data for specified purposes and in accordance with our instructions.

What about other third parties?


We may share your personal information with other third parties, for example in the context of the possible sale of our business.  We may also need to share your personal information with a regulator or to otherwise comply with the law.

Transferring information outside the jurisdiction of the operation of the entity which provides service to you


We may transfer the personal information we collect about you to other countries for the reasons detailed above. In most cases, those countries will either be within the EU or will have been subject to an adequacy decision by the European Commission. In such cases the countries to which we transfer your data are deemed to provide an adequate level of protection for your personal information.  In the event that your data is to be transferred to a county outside the EU and which does not have an adequacy decision by the European Commission, we shall ensure that a contract is entered in to by the recipient third party under the terms of which, the recipient agrees to take such measures as we deem appropriate and necessary to ensure the security of your data.

Data security 


We have put in place measures to protect the security of your information. A summary of these measures is available upon written request to the Chief Risk Officer, IQ-EQ, 2nd Floor, Gaspé House, 66-72 Esplanade, St Helier, Jersey, JE1 1GH or by email to [email protected]

Third parties will only process your personal information on our instructions and where they have agreed to treat the information confidentially and to keep it secure.

We have put in place appropriate security measures to help prevent your personal information from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal information to those employees, agents, contractors and other third parties who have a business need to know. Any party processing your data on behalf of the data controller will only process your personal information on the data controller’s instructions and all processors will be subject to a duty of confidentiality.

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

Data retention 

How long will you use my information for?


We will only retain your personal information for as long as necessary to fulfil the purposes for which we collected it, including for the purposes of satisfying any legal, accounting, or reporting requirements. To determine the appropriate retention period for personal data, we consider the amount, nature, and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means.  We also consider any applicable legal requirements relating to time frames for the retention of data.

In some circumstances we may anonymise your personal information so that it can no longer be associated with you, in which case we may use such information without further notice to you. Once our business relationship has terminated we will retain and securely destroy your personal information in accordance with our data retention and destruction policy and applicable laws and regulations.

Rights of access, correction, erasure and restriction   

Your duty to inform us of changes


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

Your rights in connection with personal information


Under certain circumstances, by law you have the right to:

  • Request access to your personal information (commonly known as a “data subject access request”). This enables you to receive a copy of the personal information we hold about you and to check that we are lawfully processing it.  Such requests should be made in writing to the Chief Risk Officer at [email protected] or by letter to IQ-EQ, 2nd Floor, Gaspé House, 66-72 Esplanade, St Helier, Jersey, JE1 1GH
  • Request correction of the personal information that we hold about you. This enables you to have any incomplete or inaccurate information we hold about you corrected
  • Request erasure of your personal information. This enables you to ask us to delete or remove personal information where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your personal information where you have exercised your right to object to processing (see below)
  • Object to processing of your personal information where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on this ground.  You also have the right to object where we are processing your personal information for direct marketing purposes
  • Request the restriction of processing of your personal information. This enables you to ask us to suspend the processing of personal information about you, for example if you want us to establish its accuracy or the reason for processing it
  • Request the transfer of your personal information to another party

If you want to review, verify, correct or request erasure of your personal information, object to the processing of your personal data, or request that we transfer a copy of your personal information to another party, please contact the Chief Risk Officer by electronic mail or letter.

No fee usually required


You will not have to pay a fee to access your personal information (or to exercise any of the other rights). However, we may charge a reasonable fee if your request for access is clearly unfounded or excessive. Alternatively, we may refuse to comply with the request in such circumstances.

What we may need from you


We may need to request specific information from you to help confirm your identity and ensure your right to access the information (or exercise any of your other rights). This is a security measure to ensure that personal information is not disclosed to any person who has no right to receive it.

Right to withdraw consent  


In the limited circumstances where you may have provided your consent to the collection, processing and transfer of your personal information for a specific purpose, you have the right to withdraw your consent for that specific processing at any time. To withdraw your consent, please contact the Group Chief Risk Officer by electronic mail or letter. Once we have received notification that you have withdrawn your consent, we will no longer process your information for the purpose or purposes you originally agreed to, unless we have another legitimate basis for doing so in law. 

Changes to this privacy notice  


We reserve the right to update this privacy notice at any time, and we will provide you with a new privacy notice when we make any substantial updates. We may also notify you in other ways from time to time about the processing of your personal information.

If you have any questions about this privacy notice, please contact the Chief Risk Officer:

IQ-EQ, 2nd Floor, Gaspé House, 66-72 Esplanade, Jersey, JE1 1GH or by email at [email protected]