1. Introduction & General Terms
In this Privacy Notification ‘EFG’ refers (as applicable) to each and all entities of EFG Group, as defined below. A list of the EFG Group entities and their contact details can be found here: https://www.efginternational.com/ch/contact.html.
EFG collects, stores and processes in general personal information in accordance with applicable data protection legislation (“Data Protection Legislation”).
This Notification by EFG to its counterparties describes the way in which EFG collects, uses and processes personal information relating to its counterparties (if they are natural persons) or the legal representatives, the directors, the beneficial owners or/ and the contact persons of these counterparties, in case the counterparties are legal entities (“You”).
2. Types of personal information collected – Sources
The types of personal information that EFG may process include, as the case may be, inter alia:
- Name, surname, father’s name, mother’s name, email address, signature, products or services provided, as the case may be;
- Where the counterparty is a natural person: VAT number and Tax Authority, number of ID document, date of issue and issuing authority;
- Where the counterparty is a legal entity: working position within the counterparty/ capacity.
Your personal information are in principle collected from you or from EFG’s counterparty which transferred to EFG your data in the context of their agreement or for the purpose of concluding an agreement. Moreover, we may obtain your personal information from other sources such as publicly available sources, creditworthiness assessment companies, etc.
3. Personal information of Third Parties
In case you provide EFG with personal information of third parties (e.g. legal representatives, employees), you must notify these persons about the processing of their personal information by EFG and their respective rights (for example by disclosing this Notification).
Moreover, if required by law, you must obtain the consent of these persons relating to the transfer of their data to EFG and the relevant processing of their data by the Company. If you provide personal information of third parties, EFG considers that the relevant consent of these third parties has been obtained, upon their having received the respective notification.
4. Why does EFG collect, use, disclose and store personal information?
EFG collects, uses, discloses and stores personal information for the following purposes: (1) choice of counterparty, (2) conclusion of an agreement with the counterparty (3) service of the agreement with the counterparty, including the management of the relevant payment fees under this agreement, (4) assessment of the cooperation with the counterparty, (5) to safeguard its rights under the applicable law, (6) to fulfil its obligations required by law, (7) to safeguard the compliance with the internal policies/ proceeding of the Company, (8) research (market investigation, satisfaction survey etc.) and (9) direct marketing purposes.
5. Legal Basis of the processing of your personal information
We will only use your personal information when the law allows us to. Most commonly and depending on the situation in which we will use your personal information and on applicable law, we may use your personal information in the following circumstances:
- Where we need to perform the contract we have entered into with you or in order to take steps at your request prior to entering into any such contract;
- Where we need to comply with a legal obligation; and
- 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 (e.g. assuring high level standards across EFG Group, ensuring compliance with our policies and procedures);
- Where it is needed in the public interest;
- Where necessary for the establishment, exercise and defense of legal claims;
- Where we need to protect your interests (or someone else’s interests); and
- In limited circumstances, where you have given your consent.
6. Recipients of your personal information
EFG may from time to time disclose your personal information to third parties for any of the aforementioned purposes. Examples of third parties to whom EFG may transfer your personal information include, inter alia:
- Third parties which provide us services (e.g. IT companies etc.)
- Entities which are within the same group of companies with the Company.
- Consultants or auditors.
- Any court or judicial authority of the relevant jurisdiction, mediator, arbitrator, taxation authority or regulatory or public authority.
- Public or national authorities, where required by law.
- Otherwise, if you have given your consent for that disclosure.
7. Overseas transfers of personal information
We may transfer the personal information we collect about you to countries other than the country of our incorporation or the country in which the information originally was collected. Those countries may not have the same privacy laws as the country in which you initially provided the information.
When we transfer your personal information to other countries, we will protect that information as described in this Privacy Notification and in accordance with applicable law. If necessary, we require the recipients referred to in section 5 above to comply with appropriate safeguards designed to protect personal information.
8. How to contact us
If you have a query regarding the processing of your personal information or if you would like to exercise your rights under the applicable legislation, please contact us at [email protected].
9. EEA Addendum
If you are in the European Economic Area (Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden, the "EEA"), the following additional EEA-specific provisions apply to our processing of your personal information.
A. Controller – EU Representative
EFG International AG (Bleicherweg 8, P.O. Box 6012, CH - 8022 Zurich, Tel. +41 44 226 18 50), is the controller of your personal information. Its EU Representative is EFG Bank (Luxembourg) S.A. (https://www.efginternational.com/lu).
B. Will my personal information be used for automated decision-making?
As a rule, we do not use fully automated decision-making (i.e. a purely automated process that would produces legal effects concerning you or significantly affecting you) in the context of our relationships with counterparties. If such processes are used in isolated cases, you will be informed separately, to the extent this is required by law.
C. Do you have an obligation to provide personal information?
In the context of our cooperation, you will need to provide the personal information that is required. If you do not provide this information, you may have to terminate our cooperation.
D. European Privacy Rights
Your rights in connection with personal information
Under certain circumstances and subject to applicable 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.
- 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.
- 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.
- Where personal information is processed by automated means and: where we process your personal information on the basis of your consent; or where such processing is necessary for entering into or performing our obligations under a contract with you, request the transfer of your personal information to you or to another party (also known as “data portability”).
- Where we process your personal information on the basis of your consent, you may withdraw that consent at any time. If you do not give your consent or withdraw your consent this may affect our ability to provide you with services. Please note that the withdrawal of consent shall not affect the lawfulness of processing based on consent before its withdrawal.
- In certain circumstances, request not to be subject to automated decision-making, including profiling.
Certain of these rights are not absolute under the applicable legislation (as sometimes there may be overriding interests that require the processing to continue, for example); nonetheless we will consider your request and respond to you.
Finally, you have the right to lodge a complaint with the supervisory authority in the jurisdiction where you live or work, or in the place where you think an issue in relation to your personal information has arisen.
E. Retention of personal information
We will retain personal information for as long as necessary to fulfil the purpose for which it was collected or to comply with legal, regulatory, reporting or internal policy requirements. To determine the appropriate retention period for personal information, we consider the applicable legal requirements, as well as the amount, nature and sensitivity of the personal information, the potential risk of harm from unauthorized use or disclosure of your personal information, the purposes for which we process your personal information and whether we can achieve those purposes through other means, as well as the time periods, during which such personal information may need to be retained as evidence in an actual or potential judicial context.
F. How to contact us
If you would like to exercise any of your rights in connection with your personal information or receive a copy of the safeguards designed to protect personal information in the case of transfer of your personal information outside the EEA or obtain further information on the retention periods of personal information, please contact us at [email protected].
10. Swiss Addendum
The additional provisions below apply to the processing of personal information which is subject to the Swiss Federal Data Protection Act.
A. Controller
EFG International AG (Bleicherweg 8, P.O. Box 6012, CH - 8022 Zurich, Tel. +41 44 226 18 50) (“EFGI”), is the controller of your personal information.
B. Overseas transfers
Your personal information may be transferred (including made accessible from) by us to the following countries:
(i) Countries within the EEA;
(ii) Other countries recognized by Switzerland as providing adequate privacy protection (for a list of these countries, please see https://www.fedlex.admin.ch/eli/cc/2022/568/fr#annex_1);
(iii) Countries where other EFG group entities / branches are established (for a complete list, see https://www.efginternational.com/ch/about/locations.html); certain service providers of EFGI might also be established in these countries; and
(iv) Countries whose national authorities oversee the activities of EFGI.
Some of the countries referred to under (iii) and (iv) do not benefit from data protection regulations that have been recognized as being "adequate" (i.e., comparable standard) from a Swiss data protection perspective. When EFGI transfers your personal information to such countries, it will implement appropriate safeguards in accordance with applicable law (e.g., implementation of standard contractual clauses).
In addition, please note that your personal information may be communicated to other countries in the context of (i) a transfer you have consented to, (ii) the execution of a contract between you and EFGI or a contract executed by EFGI with a third party in your interest, (iii) the safeguard of an overriding public interest or (iv) the establishment, exercise or defense of legal claims before a court or competent foreign authority.
11. Changes to this Notification
We reserve the right to update this Notification at any time, and we will notify you by updating this Notification on the following web address: https://www.efginternational.com/ch/privacy-counterparties.html. Any changes to this Notification are applicable by the time of its update on our website, unless otherwise provided.