From time to time, it is necessary for clients to supply The Bank of New York Mellon (the “Bank”) and each of its branches and representative offices and The Bank of New York Mellon Corporation and any of its subsidiaries and affiliates, holding and group companies (including their respective branches and representative offices individually and/or collectively) (each, a "BNY Mellon Entity" and together, "BNY Mellon", "we" or "our") with data about themselves (if "Natural Persons" (as defined below)), their affiliates (if Natural Persons), and each of their employees and representatives (being Natural Persons) (together, "Client Data") in connection with the opening/establishment and/or continuation of accounts, banking facilities and other products and services. Data is also collected from the client in the ordinary course of the continuation of the banking relationship. Failure to supply such data may result in the relevant BNY Mellon Entity being unable to open or continue such accounts, facilities or products or services.
For the purposes of this notice ("Notice"), "Natural Persons" is defined to include any living individual including those persons who are “substantial U.S. owners" (which has the meaning set forth in the U.S. Internal Revenue Code and applicable regulations, as amended from time to time, and as incorporated into any inter-governmental agreement between the relevant government authorities of the United States, including Hong Kong, and/or Singapore) or "controlling U.S. persons" (which means any person defined as a "U.S. person" under the U.S. Internal Revenue Code and applicable regulations, as amended from time to time, who is a natural person that exercises control over any entity and as incorporated into any inter-governmental agreement between the relevant government authorities of the United States including Hong Kong, and/or Singapore) of any accounts with BNY Mellon.
BNY Mellon may collect or receive the following types of Client Data in respect of employees and representatives of a prospective client or client and its affiliates and subsidiaries (together, "Client Group"), for the purposes of conducting business with the Client Group, managing our relationship with the Client Group, and advising the Client Group of products and services that we believe may be of interest to the Client Group:
name, e-mail address, address, phone number(s) and other contact information;
date of birth, marital status, and other personal information that may be included in identification documentation;
unique personal identifiers, such as passport numbers;
financial and banking details, including your financial interests and holdings;
details regarding the client’s status that may impact on its eligibility for our products and services
images captured by CCTV cameras should an employee or representative of the Client Group visit our offices;
any personal information an employee or a representative of the Client Group provides when providing feedback or making enquiries about BNY Mellon’s products and services;
any further personal information required to provide our products and services; and
any further personal information an employee or a representative of the Client Group may choose to provide which may include sent and received electronic communications with BNY Mellon.
The purposes for which Client Data may be used by BNY Mellon include:
the daily operation of the accounts, facilities and services provided to the client, including provision of financial products and services and the administration of your investments;
creating and maintaining BNY Mellon’s credit scoring models, conducting credit checks on and monitoring the credit worthiness of the client at the time of application for credit and at the time of regular or special reviews, including assisting other financial institutions to conduct credit checks on, and collect debts from, the client;
determining amounts owed to or by the client and collection of amounts outstanding from the client and those providing security for the client's obligations;
to confirm or update client records, maintain records of communications and to manage the Client Group’s relationship with BNY Mellon;
to respond to the client’s enquiries, to develop our products and services and to improve our client service;
for statistical analysis and market research and to provide the Client Group with information on BNY Mellon’s products or services which we believe may be of interest to the Client Group, including marketing services, products and other subjects;
to analyse the performance of IT systems, monitor usage of resources and systems and to improve products, services and the usability of our technology platforms (including telephone calls which may be recorded for the purposes of retaining a record of communications, in the interests of security and for training and compliance monitoring purposes);
complying with any laws, rules, regulations, public duty and/or guidelines, including but not limited to tax reporting obligations, that require BNY Mellon to disclose Client Data, issued or imposed by any regulatory, governmental, law enforcement, tax or other authorities in any jurisdiction in which BNY Mellon operates;
complying with any obligations, requirements, policies, procedures, measures or arrangements for sharing data and/or information within BNY Mellon and/or any other use of data and information in accordance with any group-wide programmes for compliance with sanctions or prevention or detection of crime, money laundering, terrorist financing or other unlawful activities;
enabling an actual or proposed assignee of the relevant BNY Mellon Entity, or participant or sub-participant of the relevant BNY Mellon Entity’s rights in respect of the client to evaluate the transaction intended to be the subject of the assignment, participation or sub-participation; and
any other legitimate business interest or purpose of BNY Mellon.
Client Data held by the relevant BNY Mellon Entity will be kept confidential and retained as a minimum in accordance with any timelines set out in any applicable regulatory obligations imposed on the relevant BNY Mellon Entity and/or in accordance with BNY Mellon’s records management policies. The relevant BNY Mellon Entity may provide such Client Data to the following parties (whether located within or outside of any jurisdiction in which the relevant BNY Mellon Entity operates or the jurisdiction in which the client is located) for the purposes set out in section 5 above:
any agent, other BNY Mellon Entity, contractor or third party service provider who provides administrative, telecommunications, computer, payment, securities clearing, audit, accounting, risk management, credit, legal, compliance, operations, sales, marketing, relationship management, collateral management, information technology, records and data storage, performance measurement and compilation and analysis of Client Data or other services to the relevant BNY Mellon Entity in connection with the operation of its business;
any other person under a duty of confidentiality to the relevant BNY Mellon Entity which has undertaken to keep such information confidential (including any other person BNY Mellon reasonably thinks necessary for the purposes in section 5 above);
credit reference agencies and, in the event of the client's default, to debt collection agencies;
any local or foreign regulatory, governmental, tax, law enforcement or other agencies or authorities, for the purposes of complying with any law, rule, regulation or other guideline, including tax reporting rules and regulations, issued by such authority in any jurisdiction in which BNY Mellon operates;
any actual or proposed assignee of the relevant BNY Mellon Entity or participant or sub-participant or transferee of the relevant BNY Mellon Entity’s rights in respect of the client;
each other BNY Mellon Entity; and
any other person the Client Group authorises, including an authorised representative, such as where applicable, relatives, associates, legal advisors and/or financial advisors.
USE OF DATA IN DIRECT MARKETING
BNY Mellon intends to use Client Data in direct marketing and BNY Mellon requires the client's consent (which includes an indication of no objection) for that purpose. In this connection, please note that:
the name, contact details, products and services portfolio information, transaction pattern and behaviour, financial background and demographic information in Client Data held by BNY Mellon from time to time may be used by BNY Mellon in direct marketing;
the following classes of services, products and subjects may be marketed;
financial, banking and related services and products; and
services and products offered by BNY Mellon’s co-branding partners (the names of such co-branding partners can be found in the relevant documents for the relevant services and products, as the case may be);
the above services, products and subjects may be provided or solicited by the relevant BNY Mellon Entity and/or third party service providers who may provide the services in sub-section (h)(ii)(2) above;
in addition to marketing the above services, products and subjects itself, BNY Mellon also intends to provide the data described in sub-section (h)(i) above to all or any of the persons described in sub-section (h)(iii) above for use by them in marketing those services, products and subjects, and BNY Mellon requires the client’s written consent (which includes an indication of no objection) for that purpose; and
BNY Mellon may receive money or other property in return for providing Client Data to the other persons in sub-section (h)(iv) above and, when requesting the client's consent or no objection as described in sub-section (h)(iv) above, BNY Mellon will inform the client if it will receive any money or other property in return for providing Client Data to the other persons.
The Client Group and/or the relevant employee/representative (as applicable by law) has the right:
to check whether the relevant BNY Mellon Entity holds data about an individual and of access to such data;
to require the relevant BNY Mellon Entity to correct any data relating to the individual which is inaccurate;
to ascertain BNY Mellon’s policies and practices in relation to data and to be informed of the kind of personal data held by BNY Mellon;
to be informed on request which items of data are routinely disclosed to credit reference agencies or debt collection agencies, and be provided with further information to enable the making of an access and correction request to the relevant credit reference agency or debt collection agency; and
The relevant BNY Mellon Entity may have the right to charge a reasonable fee for the processing of any data access request.
If the client does not give or withdraws its consent to this Notice or an employee/representative wishes to access his/her personal data or correct such Client Data or request information regarding policies and practices regarding Client Data and the types of Client Data held, please contact the following persons in the relevant jurisdiction:
The Data Protection Officer
The Bank of New York Mellon, Hong Kong Branch
Phone: +852 2840 9888
|Republic of Korea
The Personal Information Protection Officer
The Bank of New York Mellon, Seoul Branch
Data Protection Officer
The Bank of New York Mellon, Singapore Branch
Phone: +65 6432 0222