DATA PROTECTION NOTICE
This notice sets out how AMG Funds plc (the "Company") will process personal information (as a Data Controller) and outlines the Company's data protection obligations and your data protection rights as they relate to your investment in the Company under the EU data protection regime introduced by the General Data Protection Regulation (Regulation 2016/679, the "Data Protection Legislation")
Where your details are provided to the Company as a consequence of your investment in the Company and your associated interactions with the Company (including the initial or subsequent application for shares, and including the recording of electronic communications or phone calls where applicable) or by virtue of you otherwise providing the Company with personal information then the Company, acting as a data controller, may itself (or through a third party such as Northern Trust International Fund Administration Services (Ireland) Limited (the “Administrator”) acting in its capacity as the Company's administrator) process your personal information or that of individuals connected with you as an investor (for example directors, officers, employees, representatives, shareholders, investors, clients, beneficial owners or agents). If you are an entity or organisation that provides the Company with personal information on individuals connected to you, in relation to your relationship with the Company, this notice will be relevant for those individuals and you should transmit this document to such individuals or otherwise advise them of its content.
When processing your personal information, there may also be times where other service providers to the Company (including the Administrator) will act as an independent data controller, for example where they are required under relevant anti-money laundering ("AML") requirements to report suspicious transactions or identify beneficial owners of the Company.
Personal data, within the meaning of the Data Protection Legislation (referred to as "personal information" in this notice), includes, but is not restricted to, information such as your name, residential address, email address, place of birth, date of birth, bank account details and details relating to your investment activity. In connection with this, please note the following:
Purposes of Processing and Legal basis for processing
Your personal information may be processed by the Company, Company Secretary, Promoter or the Administrator (or each of their affiliates, agents, employees, delegates or sub-contractors) for the following purposes:
- to facilitate the opening of your account with the Company, the management and administration of your holdings in the Company and any related account on an on-going basis which are necessary for the performance of your contract with the Company, including without limitation the processing and verification of instructions including subscription, redemption, conversion, transfer and additional subscription requests and the payment of distributions;
- in order to carry out AML checks and related actions which the Company considers appropriate to meet any legal obligations imposed on the Company, where necessary for performance of a task carried out in the public interest or to pursue the Company's legitimate interests in relation to, the detection, prevention, investigation and prosecution of crime including fraud, money laundering, terrorist financing, bribery, corruption, tax evasion, and to prevent the provision of financial and other services to persons who may be subject to economic or trade sanctions, on an on-going basis, in accordance with the Company's and the Administrator's AML procedures;
- to report tax related information to tax authorities in order to comply with a legal obligation;
- to enforce or defend the Company and its affiliates', itself or through third parties to whom it delegates such responsibilities or rights in order to comply with any legal obligation imposed on the Company or to pursue the Company’s legitimate interests;
- to disclose information to other third parties such as service providers of the Company, auditors, regulatory authorities and technology providers in order to comply with any legal obligation imposed on the Company or in order to pursue the legitimate interests of the Company;
- to monitor and record calls and electronic communications (i) for the processing and verification of instructions; (ii) for investigation and fraud prevention purposes; (iii) for crime detection, prevention, investigation and prosecution; (iv) to enforce or defend the Company or its affiliates' rights, itself or through third parties to whom it delegates such responsibilities or rights in order to comply with any legal obligation imposed on the Company; (v) to pursue the legitimate interests of Company e.g. for quality control, business and statistical analysis and training to improve its service delivery; or (vi) where the processing is in the public interest;
- to update and maintain records and fee calculation as necessary to the performance of your contract;
- where the processing is in the public interest;
- to retain AML and other records of individuals to assist with the subsequent screening of them by the Administrator to comply with a legal obligation;
- where this is necessary for the purposes of the legitimate interests of the Company or a third party and such legitimate interests are not overridden by your interests, fundamental rights or freedoms which may include for direct marketing purposes. It is noted that the Data Protection Legislation states that the use of personal information for direct marketing purposes (that is, providing you with information on products and services that may be of interest) may be regarded as being for the purposes of a legitimate interest; and
- in order to comply with any legal obligation imposed on the Company.
Accordingly, you understand that the Company may use your personal information for such purposes as described above, provided that the Company is acting in a fair, transparent and accountable manner and has taken appropriate steps to prevent such activity having any unwarranted impact on you and also noting your right to object to such use, as discussed below.
Given the specific purposes for which the Company envisages using your personal information, under the provisions of the Data Protection Legislation, the Company does not anticipate being required to obtain your consent to do so. Should the Company wish to use your personal information for other specific purposes that require your consent, the Company will contact you to request this.
Recipients of Data and International Transfer of Data
The Company may disclose your personal information as follows:
- to third party service providers engaged by the Company in order to store or process the data for the above mentioned purposes;
- to competent authorities (including tax authorities), courts and bodies as required by law or requested or to affiliates for internal investigations and reporting;
- to the Administrator and the Administrator may, acting as a data controller and, where appropriate, having obtained your prior consent, use your personal information for the following purposes:
- to create a single source record, relating to you, which is held, maintained and used by the Administrator and its affiliates as joint controllers in pursuance of the Administrator’s or its affiliates’ legitimate interests;
- where you subscribe to use the Administrator’s investor portal functionality, for the purposes of the performance of the Administrator’s agreement with you in relation to your use of that portal functionality, including for security in connection with the portal; and
- to retain AML and other records of individuals to assist with subsequent screening of them by the Administrator or its affiliates, including in relation to other funds or clients of the Administrator or any of its affiliates in pursuance of the Administrator’s, its affiliates’ or its clients’ legitimate interests and to meet any legal obligations imposed on the Administrator or its affiliates.
The disclosure of personal information to the third parties set out above may involve the transfer of data to the USA and other jurisdictions outside the European Economic Area ("EEA") in accordance with the requirements of the Data Protection Legislation. Such countries may not have the same data protection laws as your jurisdiction. Any transmission of personal information by the Company or its delegates outside the EEA shall be in accordance with the conditions in the Data Protection Legislation.
The Company (i) has, or has authorised the Administrator as its agent, to put in place Standard Contractual Clauses with relevant parties to whom personal information will be transferred; (ii) acknowledges that the personal information may also be transferred in accordance with the Binding Corporate Rules, from the date of approval of such Binding Corporate Rules. Please contact the Administrator for copies of (i) the Standard Contractual Clauses that have been entered into on behalf of the Company and/or (ii) the Northern Trust Binding Corporate Rules.
The Company and its duly authorised delegates shall apply appropriate information security measures designed to protect personal information in its or its delegates' possession from unauthorised access by third parties or any form of computer corruption
The Company and its duly authorised delegates may retain your personal information for a period of up to seven years following your disinvestment from the Company or potentially a longer period where necessary for compliance with a legal obligation or for the establishment, exercise or defence of legal claims. Thereafter, the Company or its duly authorised delegates will refrain from collecting any further personal information on you and shall take appropriate steps to dispose of any records containing your personal information, to the extent this is operationally feasible and proportionate.
Updates to Personal Information
The Company will use reasonable efforts to keep your personal information up to date. However, you will need to notify the Company and the Administrator without delay in the event of any change in your personal circumstances, so that the Company can keep the personal information up to date.
Data Subject Rights
You have the following rights, in certain circumstances, in relation to your personal information:
- Right to access your personal information (in an easily readable form).
- Right to rectify your personal information.
- Right to restrict the use of your personal information (in certain specific circumstances).
- Right to request that your personal information is erased (in certain specific circumstances). Please note that the right for your data to be erased (the "right to be forgotten") that applies in some contexts under the Data Protection Legislation is not likely to be applicable to most, if not all, of the personal information you provide to the Company, given the specific nature of the purposes for which the Company uses the data, as described above, including in order to meet various legal and regulatory obligations.
- Right to object to processing of your personal information (in certain specific circumstances).
- Right to data portability (in certain specific circumstances)
- Right to withdraw consent (in certain specific circumstances)
- Right to receive information regarding any entities we disclose your data to.
Where the Company or the Administrator requires your personal information to comply with AML or other legal requirements, failure to provide this information means the Company may not be able to accept you as an investor in the Company.
The Company shall notify you of any personal information breach affecting you that is likely to result in a high risk to your rights and freedoms.
You have the right to lodge a complaint with the Data Protection Commission (the Company's supervisory authority) or the supervisory authority in the EU member state of your habitual residence or place of work if you consider that the processing of personal information relating to you carried out by the Company or its service providers infringes the Data Protection Legislation.
How to contact us
As the Company does not process personal information on a large scale, we are not required to designate a data protection officer. However, should you have any queries or wish to discuss your data protection rights with us, please contact Simon Osborne, Affiliated Managers Group Limited, 35 Park Lane, London, W1K 1RB, United Kingdom.
The Company may amend this notice from time to time and will do so by amending the version published on our website (https://amgfundsplc.com/gdpr.html) and the Company would therefore suggest that you review this notice on our website periodically so that you are informed of the latest position as it affects you.
28 November 2019