1. What personal information is collected and held?
BNY Mellon only collects and holds personal information that is reasonably necessary for us to perform our functions. Our functions consist principally of wholesale banking and corporate trustee services such as acting as a trustee for securitised lending programs. If you do not provide the information that we ask, we may not be able to provide the products or services you have requested.
We may collect personal information such as your name, address, phone number or any other information that may be required for identification purposes. We may also collect other information such as details of a loan or security that you have provided to us when we act as the trustee for a lending program.
From time to time, we may also collect personal information about individuals such as company directors or guarantors whom we may deal with. There may be other circumstances where we may collect personal information from contractors who are contracted to perform services for us or persons who apply for employment with us. The information that we collect may include contact details, educational qualifications and information about your past work history.
When we collect personal information from you as required by law, we will use such steps as are reasonable in the circumstances to advise you of this. BNY Mellon only collects personal information by lawful and fair means.
Where we act as a custodian or trustee in relation to a lending program, then we may also collect and hold credit information or credit eligibility information in relation to you.
2. How personal information is collected and held
BNY Mellon collects your personal information in a number of ways including:
Where we collect information from other persons about you, we will take such steps as are reasonable in the circumstances to let you know that we hold personal information about you (for example by asking that any loan application form includes a statement about us collecting your information).
We may hold information in our own right, or in a more limited capacity as the trustee of a trust.
Where we hold information as a trustee, this means we may be subject to obligations only to use and disclose that personal information for the purposes of the relevant trust. It also means that the relevant manager that manages the operations of the trust on a day to day basis will also hold personal information. When we accept appointment to act as a trustee, we require the relevant manager to comply with the law relating to privacy when they deal with your personal information.
3. What if you do not provide certain information?
If you provide us with an incomplete application, we may not be able to provide you with the product or service until the application is complete.
If you do not provide us with all relevant identity verification documents, or adequately satisfy electronic identity verification requirements, we may not be able to provide you, or continue to provide you with the product or service.
In particular as a provider of financial and credit service and products in Australia we have obligations under the Anti-money Laundering and Counter-Terrorism Financing Act 2006 (Cth) to collect certain information about persons to whom we provide our services (including account signatories, directors and beneficial owners). If we do not collect this information we may not be permitted by law to provide those services.
4. Use and disclosure of your personal information
BNY Mellon may use or disclose your personal information for the primary purpose of providing the products and/or services requested, as well as for related purposes such as:
We will not, however, use your personal information other than for:
Depending on the circumstances, the types of people to whom we may disclose personal information include;
5. Use of service providers
Your personal information may be disclosed to third parties in order to issue or provide you the product or service that you requested, when we have outsourced certain functions associated with such product or services and as required or permitted by law. Only information necessary for the service provider to carry out their function will be provided and will be subject to confidentiality clauses in the relevant services agreement.
6. Changes to personal information
Changes to your personal information can happen from time-to-time and we ask that you keep us informed of any changes by notifying us in writing. We may also ask you to review, confirm and advise of us changes to your personal information.
7. Storage and security of information
BNY Mellon stores personal information in a combination of computer storage facilities, paper-based files and other records. We will take reasonable steps to protect personal information from loss, misuse, unauthorised access, modification or disclosure.
We will also ensure that any service providers (including managers or trusts) that we deal with also take such steps.
Where BNY Mellon is aware of reasonable grounds to believe there has been unauthorised access to, unauthorised disclosure of, or a loss of personal information that BNY Mellon holds, and is likely to result in serious harm to persons concerned in the personal information accessed, disclosed and/or lost, then a notification to the persons concerned and Office of the Australian Information Commissioner (“OAIC”) might be required pursuant to the Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth). Such disclosure would include a description of the data breach and the kinds of information concerned, but would not include the personal information.
8. Access and correction
The APP give you a right to access the personal information that we hold about you (subject to some exceptions). You can contact our Privacy Officer (details below) to make a request. Generally, BNY Mellon will provide you with access within a reasonable time frame, to your personal information that we hold, unless a particular exception applies, such as where:
If a request for access would divulge a commercially sensitive decision-making process, then BNY Mellon may provide an explanation rather than direct access to the information.
If your request relates to information about a trust or lending program for which we act as a custodian or trustee, we may not hold all of the information about you that is relevant to that trust or lending program. The relevant manager of that trust with whom you deal with on a day to day basis may hold more information than we do. We may need to refer your request to the relevant manager to respond to your request. You may prefer to make your application directly to the relevant manager. For example, for a lending program, the manager is the person that you have day to day contact for the administration of your loan. If you are not sure who the manager is, we can provide you with the details of that manager to assist you in an access request.
We will respond to your request within a reasonable period. Before granting you access we may ask you for proof of your identity or any authorisation that you hold to obtain access.
You may also seek correction of the personal information that we hold about you. You may do so by contacting the Privacy Officer below.
If you are able to establish personal information that BNY Mellon holds is inaccurate, incomplete or out-of-date, then we will amend it. If you and BNY Mellon disagree about the accuracy, completeness or currency of our records, then you have the right to request that we note your disagreement on those records under the Australian Privacy Principles.
As with access requests, if the information that we hold about you is in relation to a trust of lending program then the relevant manager of that program may hold more information than we do. We may need to refer your request to the manager. You are free to make your correction request directly to that manager if you prefer.
BNY Mellon does not use any government-issued identifiers (such as Tax File Numbers) for use as its own identifier.
Given legal requirements on financial institutions to identify their customers, we would be unable to allow you to transact with us on the basis of anonymity. However, access to the BNY Mellon public website, and some other interactions with us may be done anonymously and you may make general enquiries about our products and services on an anonymous basis if you so choose.
12. Cross-border disclosure of personal information
BNY Mellon may transfer personal information to related body corporates and unaffiliated service providers in locations beyond Australia (including, but not limited to, the United States, India, the United Kingdom, Brussels, and other members of the European Union) in the course of storing that information and when using or disclosing it for one of the purposes referred to above. When transferring personal information to foreign jurisdictions, BNY Mellon will only do so where the recipient is subject to binding requirements similar to those in Australia or where we are satisfied that the recipient will not use the personal information except in a manner that is consistent with our obligations under the Privacy Act.
The last date on which this policy was updated was 4 February 2019.
14. Contacting us and complaints
If you would like more information about how we manage your personal information, please contact us on +61 2 9260 6019, or write to us at the following address:
BNY Mellon, excluding Pershing Securities Australia Pty Ltd and Pershing Australia Nominees Pty Ltd
Level 2, 1 Bligh Street
Sydney NSW 2000
Pershing Securities Australia Pty Ltd and Pershing Australia Nominees Pty Ltd
Level 2, 1 Bligh Street
Sydney NSW 2000
We will use our best endeavours to respond and resolve any complaint to your reasonable satisfaction. If you are unhappy with our response, you may lodge a complaint with the OAIC, please contact the OAIC's hotline service on 1300 363 992. Further information may also be available from the OAIC website http://oaic.gov.au/.
You may wish to consider putting a complaint to us in writing. This will help us understand your complaint and may assist you if you wish to take your complaint further (for example by going to the OAIC).
If your complaint relates to a breach of privacy in relation to a lending program or trust you may wish to take your complaint directly to the relevant manager. You may also have rights to take your complaint to an external dispute resolution scheme where credit is involved. This may depend on the particular lending scheme in question. Your loan documents, the manager's website or the manager will have more information about external dispute resolution options that may be available to you.
Use of our web site
Please refer to the following website page of information about use of our website and cookies. https://www.bnymellon.com/privacy/cookies.html
Residents of foreign countries
If you are a resident of a country other than Australia, you may have other rights in relation to privacy and data protection according to the legislation of that country.
If you are a resident of the European Economic Area (the EEA), the General Data Protection Regulation will confer rights to you in relation to your personal information. These rights include the right to access, rectify/erase and restrict the processing and use of your personal information. Please refer to the following website page for a privacy notice which applies to you if you are a resident of the EEA and which provides further information about those rights.
What credit information and credit eligibility information do we collect and hold?
Credit information and credit eligibility information are particular types of personal information that are subject to separate regulation under the Privacy Act. This statement applies in respect of these categories of information.
We may collect, hold, use or disclose credit information and credit eligibility about individuals.
This is usually only in relation to a lending program where we have agreed to act as the trustee. Depending on the particular program or the circumstances this may include information that you have provided in your loan application, information about that has been obtained from a credit reporting body (this is sometimes called credit eligibility information), information about your obligations under the loan and whether or not you are meeting your obligations under a loan.
Credit eligibility information may include identification information, information about your current liabilities, repayment history or defaults (each in respect of consumer credit) and other information (including publicly available sources like court proceedings or personal insolvency information) that a credit reporting body is entitled to disclose to a credit provider. We do not usually derive information from credit eligibility information although we may hold information that a loan manager has derived from credit eligibility information such as a credit score.
We may not hold all of these types of information. Sometimes we will only hold basic categories of this type of information (with more detailed information being held only by the relevant loan manager).
We will require that relevant loan managers manage this information in accordance with the requirements of law. This includes the specific provisions of the Privacy Act that deal with credit information and credit eligibility information. It also includes any provisions of the Privacy (Credit Reporting) Code 2014 (“Credit Reporting Code”) that may apply to that information.
How you can find out about credit reporting bodies with credit information may be exchanged?
The extent to which we or a loan manager may hold credit eligibility information or exchange credit information with a credit reporting body will vary according to the type of loan, the particular lending program or the particular circumstances.
Why do we use or disclose this information?
We only use or disclose credit information or credit eligibility information about you for the purposes of the lending program to which it relates. This may include use and disclosure that is for the purposes of considering loan suitability and for the administration and enforcement of loans.
Request for access and correction
We will normally need to consult with the loan manager to consider your requests. Alternatively you may wish to make an access or correction request directly to the loan manager. Often this will be a quicker and more effective way of making a request for access and correction because the loan manager will usually hold more information than us.
You may have different rights than those contained in the APP in relation to access to or correction of credit eligibility information. For example where you request a correction to credit information we may be required to consult with another interested party (such as a credit reporting body or another credit provider) to consider your request. We may also have obligations to advise previous recipients of the information about a correction that we make. You also have a specific right to appoint a person to seek access credit eligibility information on your behalf.
We will comply with any higher standards or requirements that are applicable for access to or correction of credit eligibility information (including any requirements contained in the Credit Reporting Code). For example in most cases we will try to respond to your request within 30 days.
We will advise you if we cannot agree to your request for access or correction.
Cross border disclosure
The Australia Branch of BNY Mellon is an international bank which carries on business in Australia. We may transfer personal information to our home office or related bodies corporate and service providers in locations beyond Australia (including, but not limited to, the United States, India, the United Kingdom, Brussels, and other members of the European Union) in the course of storing that information and when using or disclosing it for one of the purposes referred to above. We may be required by law to disclose some personal information to regulatory authorities in those jurisdictions.
Where we disclose information to an overseas recipient we will take such steps as are reasonable to ensure that:
(a) any related body corporate that is located overseas will not use or disclose that information except in circumstances where we would be entitled to use or disclose it (or for a purpose that is permitted by law); and
(b) where the disclosure is made to assist in assessing or management of credit the credit eligibility information is only used or disclosed by that person for such purposes.
We will also take reasonable steps to ensure that the overseas recipient does not breach the provisions of the APP to the extent that they apply to us in relation to the information.