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By means of this policy, ALB Ltd. (“we” or “us” or “the controller”), provides you (“you” or “the data subject”) with information, regarding the processing, collection, use and disclosure of personal data from which an individual may be identified.
We may collect personal data directly from the users of our site and also indirectly by receiving personal data from third party providers. Our third-party providers include social media such as Facebook, Twitter and LinkedIn. The said social media providers are responsible towards you for their disclosure to us of your personal data.
This policy is compliant with the General Data Protection Regulation; Regulation EU 2016/679. As, it may be amended from time to time, we shall notify you of any material changes, by posting amendments on our website. You are therefore advised to consult this policy regularly so as to keep abreast of changes.
By providing ALB with your personal data you consent for ALB to process/use/collect, dispose of, personal data as explained hereunder.
1. COLLECTION OF DATA
When you browse our website, you remain anonymous. However, when you sign up as a user of our services and gain access to the client portal, you are asked to provide a username and password for future access as well as an e-mail address and to accept to be contacted by us for marketing purposes.
We may collect the following data:
- Identification data including name and surname, date of birth, place of birth, nationality, citizenship, identity card, or passport information, tax identification number, US taxpayer status for FATCA purposes and contact information;
- financial information including source of funds and source of wealth and where we are required to assess the appropriateness of a financial transaction; your knowledge and experience of trading, information on your employment or professional status and your education and qualifications;
- data relating to transactions, your instructions and communications regarding trades in financial instruments, brokerage account data e.g. opening of account details, personal life information to determine if you are a politically exposed person in terms of anti-money laundering laws
- user log in details for our website, telephone recordings of conversations as required by law; telephone number, verification of caller’s identity and transaction related data;
- Data to enable us to determine whether you are a person subject to legal sanctions, or court or tribunal or regulatory authority orders and disclosure of personal data when this is required by law, to any court, tribunal, administrative or regulatory authority.
- We may use publicly accessible sources such as: Google and other search engines, online and other media e.g. newspaper articles, to search for criminal convictions records, any penalties you may be subject to, your regulatory status, sanctions and embargoes list, and to generally carry out Know Your Customer Due Diligence.
We may collect information about you indirectly from other sources including our own systems and records regarding the use of your brokerage account, any joint account holders, your service providers e.g. banks and payment providers in so far as your instructions and communications regarding transfers to us are concerned. Where a customer provides us with information regarding another individual, s/he should ensure that the individual concerned is aware of this disclosure and the customer is responsible for ensuring that s/he has the necessary consent to disclose information to us.
Where information is mandatory in order for us to provide you with a requested service, we shall inform you of the consequences of failure to provide such information.
2. WHY WE PROCESS PERSONAL DATA
Our legal basis for processing personal data is your consent and/or your request to access our services, and any resulting contract between us based on our Terms and Conditions of business. We may also process personal data in order to comply with any legal or regulatory obligations imposed on us . We also have a legitimate interest to protect our business, financial interests and reputation, from risk as well as other interests.
We provide you with access to an FX trading platform where you may trade currencies as well as transact FX derivatives. When we receive your transmission of orders in relation to a financial instrument, we are obliged by law to carry out an assessment of the appropriateness of the financial instrument for you.
Based upon the personally identifiable information you provide during the registration process, we send you a welcome email to verify your identity. We also communicate with you in response to your enquiries and so as to provide you with the requested services and to manage your account.
We may use recordings of our telephone conversations, for the purposes of maintaining, improving and testing our systems, applications and software as well as to evidence your trading instructions to us and defend and exercise legal rights including debt recovery.
Registered users of our site may provide us with credentials to access their brokerage account so as to retrieve the user’s trading data. This information is only used to obtain trading history for the account and is not accessible anywhere on the site.
We shall not access your accounts for any purpose other than to retrieve your trading data and to provide you with any services you may request. You may de-activate your account with us for any reason and at any time and we shall delete all of your personally identifiable data from our servers, save for any data we are required to keep by law or otherwise to protect legal rights.
By law we are also required to obtain information about your trading knowledge and experience and draw up a profile description of you in so far this is relevant to your potential future trading on the platform we provide for this purpose. Once you sign in, on our client portal, you become identifiable to us.
We may communicate with you to inform you of legal or regulatory matters, to carry out ongoing monitoring and due diligence including monitoring of sanctions and embargos, to restrict access or terminate service, to handle any requests for information, queries, and complaints from you and to authenticate your access, instructions or requests. We may also conduct business analysis, research and compile statistics to improve our business model, strategy and products and services.
We may process your personal data when required to do so in order to co-operate with tax authorities, regulators, supervisory authorities and law enforcement bodies and to comply with administrative, tribunal, court and orders by law enforcement bodies.
We always ask for your specific consent to receive marketing communications from us and by accepting his on our website, you accept to be contacted by us for this purpose.
Special categories of personal data
Sensitive personal data includes a person’s political opinions and whether a person is a politically exposed person. Such data as well as data relating to criminal convictions, enjoys special protection at law. We have a legitimate interest to process this data and carry out internet searches, searches of regulatory and publicly accessible sources as part of our Know Your Client obligations at law.
3. DATA SECURITY
When visiting our site, we may collect information through cookies or similar web tools, to enhance the user experience. Cookies are small strings of text that are sent by our site to your browser on your computer’s hard drive. Cookies enable us to recognize you when you return to our site, allow you to hold web sessions while browsing this site and help us provide you with a better and more personalized experience. Our cookies are not tied to personally identifiable information. Whilst most web browsers automatically accept cookies it is possible to change browser setup so that it does not accept cookies. This may however, hinder you from taking advantage of certain portions of our site.
When browsing our site, third parties may automatically receive and record information from the visitor’s browser including your IP address, cookie information and the pages requested. They may disclose this information to us and we use this information to improve the functionality and usability of our services. Our log files are not tied to personally identifiable information.
We use secure server software and firewalls to protect all information from unauthorized access, disclosure, alteration or destruction.
We do not disclose any personally identifiable information e.g. name, email address or contact information on the site for others to view or to third parties, unless duly authorised by the user or the user posts the information on the site.
We do not rent or disclose any personally identifiable information, from or to third parties, excluding our agents or service providers and then only to the extent required.
We may however be required to disclose user information following court orders, or to establish or exercise our legal rights or defend against actual or threatened legal claims. We may be required to disclose information for purposes of investigation, prevention or action concerning illegal activities or any activity which we believe may give rise to legal liability for ALB, its employees or third parties, specifically where we suspect fraud, situations involving potential threats to the physical safety of any person, violations of our terms of business or as otherwise required by law.
Persons under the age of 18
We do not permit persons under the age of 18 years to trade on the FX platform we provide. We will not collect information from persons under the age of 18. By using our site you represent and warrant that you are over the age of 18.
We may disclose personal data to our brokers and other financial intermediaries, involved in the provision of our services or products, consultants, external auditors, professional advisors, providers of outsourced services e.g. IT, internal audit, transaction reporting service providers, administrative service providers, KYC check providers and payment service providers.
We may disclose personal data as required by regulatory and supervisory authorities e.g. The Malta Financial Services Authority, the Financial Intelligence Analysis Unit, the Information and Data Protection Commissioner, local and or foreign tax authorities, any other local or foreign competent authority.
We may also disclose personal data to the competent local or foreign courts, administrative bodies and tribunals and law enforcement bodies upon their request for example in the course of an investigation or legal proceedings.
Recipients of such disclosures may be located in or outside Malta or in your country of residence. However, should we be required to transfer data to a country outside the EEA e.g. FATCA reporting to the US government, we shall only transfer personal data to locations covered by an EU Commission adequacy ruling in terms of data protection or upon binding assurance by the recipient that the shall afford such personal data an adequate level of protection. Otherwise, we shall only transfer personal data with your explicit consent or in order to provide you with the requested service in terms of your contract with us.
5. STORAGE AND RETENTION
According to legal and regulatory obligations and industry standards, we store electronic data for 10 years for transaction data and 10 years from last transaction for account data.
Telephone recordings are kept for 10 years from date of the recording where they evidence your instructions to us.,
We do not take decisions in your regard, based on profiling without human intervention.
6. YOUR RIGHTS
You have the right to request in writing, access to your data and confirmation whether or not we process your personal data.
Where we process your personal data, you have the right to request the purpose of processing, the categories of data, any recipients or categories of recipients to whom data has or will be disclosed especially in third countries or international organisations, the applicable retention period and how we safeguard your data.
Right to request rectification
You have the right to request restriction of processing where you contest the accuracy of the personal data we hold.
You have the right to data portability i.e. to receive your data in a structured, machine readable format and to have the data transmitted directly to another controller, upon your request.
You may object to your data being processed at any time and may withdraw consent you previously gave.
You have the right to be forgotten and we shall delete your personal data on your request unless we have a legal obligation or ground to process the data.
Should you wish to lodge a complaint, about our processing of data, please write to:
The Compliance Officer
48, Sir Augustus Bartolo Street, Casa Roma,
Ta’ Xbiex, XBX 1099, Malta
If you are not satisfied with the response you receive by us, you may submit a complaint to the Information and Data Protection Commissioner in Malta or in your ordinary place or residence.
Information and Data Protection Commissioner of Malta
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