Privacy policy statement

The Company is committed to conducting its business in accordance with all applicable data protection laws and regulations and in line with the highest standards of ethical conduct.

This Policy sets forth the expected behaviours of the Company’s employees and third parties in relation to the collection, use, retention, transfer, disclosure and destruction of any Personal Data belonging to a Company contact (i.e. the Data Subject).

Personal Data is any information (including opinions and intentions) that relates to an identified or identifiable natural person. Personal Data is subject to certain legal safeguards and other regulations that impose restrictions on how organisations may process Personal Data. An organisation that handles Personal Data and makes decisions about its use is known as a Data Controller. The Company, as a Data Controller, is responsible for ensuring compliance with the data protection requirements outlined in this Policy. Non- compliance may expose the Company to complaints, regulatory action, fines and/or reputational damage.

The Directors can and may delegate the role of Data Processor to a third-party. Where such delegation occurs, the Directors will ensure that it is done in compliance with this Policy, and that the Data Processor has equivalent data protection rules and policies in place.

The Company is fully committed to ensuring continued and effective implementation of this Policy and expects all the Company’s Directors, officers, employees and third parties to share in this commitment. Any breach of this Policy will be taken seriously and may result in disciplinary action or business sanction.

The information contained in this Policy is for internal use and may not be disclosed, duplicated, used or published in whole or in part without express written authorization by the Company.

1.1.Governance

1.1.1.Data Protection Officer

To demonstrate our commitment to data protection, and to enhance the effectiveness of our compliance efforts, the Company has appointed a Data Protection Officer (the “DPO”). The DPO operates with independence and is supported by suitably skilled individuals granted all necessary authority. The DPO reports to the Directors. The DPO’s duties include:

Informing and advising the Company, the Directors and its employees who carry out processing pursuant to the Cayman DPA, data protection regulations, Cayman Islands law or European Union-based data protection provisions;
Ensuring the alignment of this Policy with the Cayman DPA, data protection regulations, Cayman Islands law or European Union based data protection provisions;
Providing guidance with regards to carrying out Data Protection Impact Assessments (“DPIAs”);
Acting as a point of contact for and cooperating with Data Protection Authorities (“DPAs”);
Determining the need for notifications to one or more DPAs because of the Company’s current or intended Personal Data processing activities;
Making and keeping current notifications to one or more DPAs because of the Company’s current or intended Personal Data processing activities;
The establishment and operation of a system providing prompt and appropriate responses to Data Subject requests;
Informing senior managers, officers, and the Directors of the Company of any potential corporate, civil and criminal penalties that may be levied against the Company and/or its Directors or employees for violation of applicable data protection laws.

Ensuring establishment of procedures and standard contractual provisions for obtaining compliance with this Policy by any third party who:

provides Personal Data to the Company or any subsidiary entities;
receives Personal Data from the Company or any subsidiary entities; and/or
has access to Personal Data collected or processed by the Company or any subsidiary entities.

1.1.2.Data Protection by Design

To ensure that all data protection requirements are identified and addressed when designing new systems or processes and/or when reviewing or expanding existing systems or processes, each of them must go through an approval process before continuing. The Company and each subsidiary must ensure that a DPIA is conducted, in cooperation with the DPO, for all new and/or revised systems or processes for which it has responsibility. The subsequent findings of the DPIA must then be submitted to the Directors for review and approval. Where applicable, the Information Technology (“IT”) department, as part of its IT system and application design review process, will cooperate with the DPO to assess the impact of any new technology uses on the security of Personal Data.

1.1.3.Compliance Monitoring

To confirm that an adequate level of compliance that is being achieved by all Company services/entities in relation to this Policy, the DPO will carry out an annual data protection compliance audit for all such services/entities. Each audit will, as a minimum, assess:

Compliance with this Policy in relation to the protection of Personal Data, including:
1. The assignment of responsibilities.
2. Raising awareness.
3. Training of employees.

The effectiveness of data protection-related operational practices, including:

Data Subject rights.
Personal Data transfers.
Personal Data incident management.
Personal Data complaints handling.
The level of understanding of data protection policies and privacy notices.
The currency of data protection policies and privacy notices.
The accuracy of Personal Data being stored.
The conformity of Data Processor activities.
The adequacy of procedures for redressing poor compliance and Personal Data breaches. The DPO, in cooperation with key business stakeholders from the Company and any subsidiary, will devise a plan with a schedule for correcting any identified deficiencies within a defined and reasonable time frame. Any major deficiencies and good practice identified will be reported to, monitored and shared by the Directors.

1.2.Data Protection Principles

The Company has adopted the following principles in accordance with both the Cayman DPA and GDPR to govern its collection, use, retention, transfer, disclosure and destruction of Personal Data:

Principle 1: Fair and Lawfulness Use. Personal Data shall be processed lawfully, fairly and in a transparent manner in relation to the Data Subject. This means that the Company must tell the Data Subject what processing will occur (transparency), the processing must match the description given to the Data Subject (fairness), and it must be for one of the purposes specified in the applicable data protection regulation (lawfulness). In addition there must be a legal ground that permits the Data Controller to process the Personal Data, for example consent or because there is a contract with the Data Subject and processing the Personal Data is necessary to perform that contract. There may also be consent, a legal obligation, vital interests, the exercise of a public function and legitimate interests which may each serve as the legal basis for processing Personal Data.

Principle 2: Purpose Limitation. Personal Data shall be collected for specified, explicit and legitimate purposes and not further processed in a manner that is incompatible with those purposes. This means the Company must specify exactly what the Personal Data collected will be used for and limit the processing of that Personal Data to only what is necessary to meet the specified purpose.

Principle 3: Data Minimisation. Personal Data shall be adequate, relevant and limited to what is necessary in relation to the purposes for which they are processed. This means the Company must not store any Personal Data beyond what is strictly required.

Principle 4: Accuracy. Personal Data shall be accurate and, kept up to date. This means the Company must have processes in place for identifying and addressing out-of-date, incorrect and redundant Personal Data.

Principle 5: Storage Limitation. Personal Data shall be kept in a form that permits identification of Data Subjects for no longer than is necessary for the purposes for which the Personal Data is processed. This means the Company must, wherever possible, store Personal Data in a way that limits or prevents identification of the Data Subject.

Principle 6: Integrity & Confidentiality. Personal Data shall be processed in a manner that ensures appropriate security of the Personal Data, including protection against unauthorised or unlawful processing, and against accidental loss, destruction or damage. The Company must use appropriate technical and organisational measures to ensure the integrity and confidentiality of Personal Data is maintained at all times.

Principle 7: Accountability. The Data Controller shall be responsible for, and shall be able to demonstrate compliance with data protection principles. This means the Company must demonstrate that the data protection principles are met for all Personal Data for which it is responsible.

Principle 8: Respect for the Individual’s Rights. Any processing done must take the rights of individuals into account. This principle underscores the importance of all the rights of individuals including: the right to be informed; the right of access; the right to rectification; the right to stop/restrict processing; the right to stop direct marketing; the right in relation to automated decision making; and the right to complain and seek compensation. This principle is a reminder towards Data Controllers that they have obligations towards the Data Subjects whose Personal Data they process.

Principle 9: International Transfers. Personal Data collected within the Cayman Islands may not be transferred outside the Cayman Islands unless it is adequately protected. The principle on international transfers means that Personal Data may not leave the Cayman Islands unless the destination offers a level of protection that is on a broad level the same as here or where there are adequate safeguards in place to protect the information. The Company by virtue of the adherence to the GDPR is deemed to have adequate safeguards in place.

1.3.Data Collection

1.3.1.Data Sources

Personal Data should be collected from the Data Subject only if one of the following apply:

The nature of the business purpose necessitates collection of the Personal Data from other persons or bodies.
The collection must be carried out under emergency circumstances in order to protect the vital interests of the Data Subject or to prevent serious loss or injury to another person.

If Personal Data is collected from someone other than the Data Subject, the Data Subject must be informed of the collection unless one of the following apply:

The Data Subject has received the required information by other means.
The information must remain confidential owing to a professional secrecy obligation.
A national law expressly provides for the collection, processing or transfer of the Personal Data.

Where it has been determined that notification to a Data Subject is required, notification should occur promptly, but in no case later than:

One calendar month from the first collection or recording of the Personal Data.
At the time of first communication if used for communication with the Data Subject.
At the time of disclosure if disclosed to another recipient.

1.3.2.Data Subject Consent

The Company and each subsidiary will obtain Personal Data only by lawful and fair means and, where appropriate with the knowledge and consent of the individual concerned. Where a need exists to request and receive the consent of an individual prior to the collection, use or disclosure of their Personal Data, the Company is committed to seeking such consent. The DPO, in cooperation with other relevant business representatives, shall establish a system for obtaining and documenting Data Subject consent for the collection, processing, and/or transfer of their Personal Data.

1.3.3.Data Subject Notification

The Company and each subsidiary will, when required by applicable law, contract, or where it considers that it is reasonably appropriate to do so, provide Data Subjects with information as to the purpose of the processing of their Personal Data. When the Data Subject is asked to give consent to the processing of Personal Data and when any Personal Data is collected from the Data Subject, all appropriate disclosures will be made, in a manner that draws attention to them, unless one of the following apply:

The Data Subject already has the information;
A legal exemption applies to the requirements for disclosure and/or consent. The disclosures may be given orally, electronically or in writing. If given orally, the person making the disclosures should use a suitable script or form approved in advance by the DPO. The associated receipt or form should be retained, along with a record of the facts, date, content, and method of disclosure.

1.3.4.External Privacy Notices

Each external website provided by Company will include an online ‘Privacy Policy’ incorporating specifics relating to dealing with Cookies fulfilling the requirements of applicable law. Customers of the Company will be provided with a Cayman Privacy Notice, a sample form is attached as Schedule D.

1.4.Data Use

1.4.1.Data Processing

The Company uses the Personal Data of its contacts for the following broad purposes:

The general running and business administration of the Company’s services/entities.
To provide services to the Company’s stakeholders.
The ongoing administration and management of customer services.

The use of a contact’s information should always be considered from their perspective and whether the use will be within their expectations or if they are likely to object. For example, it would clearly be within a contact’s expectations that their details will be used by the Company to respond to a contact request for information about the products and services on offer. However, it will not be within their reasonable expectations that the Company would then provide their details to third parties for marketing purposes.

The Company and each subsidiary will process Personal Data in accordance with all applicable laws and applicable contractual obligations. More specifically, the Company will not process Personal Data unless at least one of the following requirements are met:

The Data Subject has given consent to the processing of their Personal Data for one or more specific purposes.
Processing is necessary for the performance of a contract to which the Data Subject is party or in order to take steps at the request of the Data Subject prior to entering into a contract.
Processing is necessary for compliance with a legal obligation to which the Data Controller is subject.
Processing is necessary in order to protect the vital interests of the Data Subject or of another natural person.
Processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the Data Controller.
Processing is necessary for the purposes of the legitimate interests pursued by the Data Controller or by a third party (except where such interests are overridden by the interests or fundamental rights and freedoms of the Data Subject, in particular where the Data Subject is a child).

There are some circumstances in which Personal Data may be further processed for purposes that go beyond the original purpose for which the Personal Data was collected. When making a determination as to the compatibility of the new reason for processing, guidance and approval must be obtained from the DPO before any such processing may commence.

In any circumstance where consent has not been gained for the specific processing in question, the Company will address the following additional conditions to determine the fairness and transparency of any processing beyond the original purpose for which the Personal Data was collected: any link between the purpose for which the Personal Data was collected and the reasons for intended further processing.

The context in which the Personal Data has been collected, particularly regarding the relationship between Data Subject and the Data Controller.

The nature of the Personal Data, particularly whether special categories of data are being processed, or whether Personal Data related to criminal convictions and offences are being processed.

The possible consequences of the intended further processing for the Data Subject.

The existence of appropriate safeguards pertaining to further processing, which may include encryption, anonymisation or pseudonymisation.

1.4.2.Special Categories of Data

The Company will only process special categories of data (also known as sensitive data) where the Data Subject expressly consents to such processing or where one of the following conditions apply:

The processing relates to Personal Data that has already been made public by the Data Subject.
The processing is necessary for the establishment, exercise or defence of legal claims.
The processing is specifically authorised or required by law.
The processing is necessary to protect the vital interests of the Data Subject or of another natural person where the Data Subject is physically or legally incapable of giving consent.
Further conditions, including limitations, based upon national law related to the processing of genetic data, biometric data or data concerning health.

In any situation where special categories of data are to be processed, prior approval must be obtained from the DPO, and the basis for the processing clearly recorded with the Personal Data in question. Where special categories of data are being processed, the Company will adopt additional protection measures.

The Cayman DPA allows for special categories of data (also known as sensitive data) to be processed if:

the individual has given clear consent to the processing of their sensitive Personal Data for a specific purpose.

the processing of sensitive Personal Data is imposed by law in the context of the individual’s employment.

the processing of sensitive Personal Data is necessary to protect the vital interests of the individual or any other person where consent cannot be given, cannot reasonably be obtained, or has unreasonably been withheld.

the processing of sensitive Personal Data is carried out by certain types of non-profit organization and relates to individuals who are their members or individuals who are in regular contact with the organization. This does not cover disclosure to a third party without consent from the individuals concerned.

The role of Data Processor may be delegated to a third-party service provider. When this occurs the Company will ensure that such third-party has equivalent data protection standards and policies in place and such delegation will be reviewed at appropriate intervals.

1.4.3.Children’s Data

Children under the age of 14 are unable to consent to the processing of Personal Data for information society services (any service normally provided for payment, by electronic means and at the individual request of a recipient of services). Consent must be sought from the person who holds parental responsibility over the child. However, it should be noted that where processing is lawful under other grounds, consent need not be obtained from the child or the holder of parental responsibility.

1.4.4.Data Quality

The Company and each subsidiary will adopt all necessary measures to ensure that the Personal Data it collects and processes is complete and accurate in the first instance, and is updated to reflect the current situation of the Data Subject. The measures adopted by the Company to ensure data quality include:

Correcting Personal Data known to be incorrect, inaccurate, incomplete, ambiguous, misleading or outdated, even if the Data Subject does not request rectification.

Keeping Personal Data only for the period necessary to satisfy the permitted uses or applicable statutory retention period.

The prompt removal of Personal Data if in violation of any of the data protection principles or if the Personal Data is no longer required.

Restriction, rather than deletion of Personal Data, insofar as:

a law prohibits erasure.
erasure would impair legitimate interests of the Data Subject.
the Data Subject disputes that their Personal Data is correct, and it cannot be clearly ascertained whether their information is correct or incorrect.

1.4.5.Profiling & Automated Decision Making

The Company will only engage in profiling and automated decision-making where it is necessary to enter into, or to perform, a contract with the Data Subject or where it is authorised by law. Where the Company and any subsidiary utilises profiling and automated decision-making, this will be disclosed to the relevant Data Subjects. In such cases the Data Subject will be given the opportunity to:

Express their point of view.
Obtain an explanation for the automated decision.
Review the logic used by the automated system.
Supplement the automated system with additional data.
Have a human carry out a review of the automated decision.
Contest the automated decision.

Object to the automated decision-making being carried out. The Company and each subsidiary must also ensure that all profiling and automated decision-making relating to a Data Subject is based on accurate data.

1.4.6.Digital Marketing

As a general rule, the Company will not send promotional or direct marketing material to a Company contact through digital channels such as mobile phones, email and the Internet, without first obtaining their consent. The Company and each subsidiary wishing to carry out a digital marketing campaign without obtaining prior consent from the Data Subject must first have it approved by the DPO. Where Personal Data processing is approved for digital marketing purposes, the Data Subject must be informed at the point of first contact that they have the right to object, at any stage, to having their data processed for such purposes. If the Data Subject puts forward an objection, digital marketing related processing of their Personal Data must cease immediately, and their details should be kept on a suppression list with a record of their opt-out decision, rather than being completely deleted. It should be noted that where digital marketing is carried out in a ‘business to business’ context, there is no legal requirement to obtain an indication of consent to carry out digital marketing to individuals provided that they are given the opportunity to opt-out.

1.5.Data Retention

To ensure fair processing, Personal Data will not be retained by the Company for longer than necessary in relation to the purposes for which it was originally collected, or for which it was further processed. The length of time for which the Company services/entities need to retain Personal Data is set out in Schedule B to this Policy. This takes into account the legal and contractual requirements, both minimum and maximum, that influence the retention periods set forth in Schedule B. All Personal Data should be deleted or destroyed as soon as possible where it has been confirmed that there is no longer a need to retain it. The Company shall also comply with CIMA’s Statement of Guidance on Nature, Accessibility and Retention of Records.

1.5.1.Obligations and General Principles of Data Retention

The Company is bound by various obligations with regard to the data it processes or controls. These obligations include how long the Company may retain data and when and how the Company can destroy it. The obligations may arise from industry standards, local laws or regulations or from contracts and agreements the Company makes to its Directors, employees, customers, services providers and partners.

The Company may be involved in unpredictable events such as litigation or business disaster recoveries that requires it to have access to the original Data in order to protect the Company’s interests or those of its Directors, employees, customers and service providers and our partners.

As a result Personal Data may need to be archived beyond its active use.

When the retention period for a particular type of data is over, the Company ought to destroy that data in a secure manner unless a documented exception is agreed by the Directors.

1.5.2.Disposal

Schedule B lists collections or groups of records for which predetermined periods of retention have been ascertained.

Records can be destroyed in the following ways:

Non-sensitive information – can be placed in a standard rubbish bin.
Confidential information (including Personal Data belonging to employees or customers) – placed in designated secure destruction bin where the contents are cross-cut, shredded and pulped or burnt.
Electronic equipment or systems containing information – destroyed by IT and for individual folders/emails/database records, they will be permanently deleted from the system.
Destruction of electronic records should render them non-recoverable even using forensic data recovery techniques.

The Company will undertake quarterly reviews to ensure that appropriate data can be archived or disposed of.

1.5.3.Auditing

Records or documents disposed outside of the disposal schedule, either being disposed of earlier than specified or kept for longer will need to be recorded for audit purposes. A register will be made available alongside this Policy.

This will provide the necessary audit trail for any inspection conducted by any regulatory authority.

1.6.Data Protection

The Company and each subsidiary will adopt physical, technical, and organisational measures to ensure the security of Personal Data. This includes the prevention of loss or damage, unauthorised alteration, access or processing, and other risks to which it may be exposed by virtue of human action or the physical or natural environment. A summary of Personal Data-related security measures is provided below:

Prevent unauthorised persons from gaining access to data processing systems in which Personal Data is processed.
Prevent persons entitled to use a data processing system from accessing Personal Data beyond their needs and authorisations.
Ensure that Personal Data in the course of electronic transmission during transport cannot be read, copied, modified or removed without authorisation.
Ensure that access logs are in place to establish whether, and by whom, the Personal Data was entered, modified on or removed from a data processing system.
Ensure that in the case where processing is carried out by a Data Processor, the data can be processed only in accordance with the instructions of the Data Controller.
Ensure that Personal Data is protected against undesired destruction or loss.
Ensure that Personal Data collected for different purposes can and is processed separately.
Ensure that Personal Data is not kept longer than necessary.

1.7.Data Subject Requests

The DPO will establish a system to enable and facilitate the exercise of Data Subject rights related to:

Information access.
Objection to processing.
Objection to automated decision-making and profiling.
Restriction of processing.
Data portability.
Data rectification.
Data erasure.

If an individual makes a request relating to any of the rights listed above, the Company will consider each such request in accordance with all applicable data protection laws and regulations. No administration fee will be charged for considering and/or complying with such a request unless the request is deemed to be unnecessary or excessive in nature. Data Subjects are entitled to obtain, based upon a request made in writing/email to: [INSERT NAME AND CONTACT DETAILS].

It should be noted that situations may arise where providing the information requested by a Data Subject would disclose Personal Data about another individual. In such cases, information must be redacted or withheld as may be necessary or appropriate to protect that person’s rights.

1.8.Law Enforcement Requests & Disclosures

In certain circumstances, it is permitted that Personal Data be shared without the knowledge or consent of a Data Subject. This is the case where the disclosure of the Personal Data is necessary for any of the following purposes:

The prevention or detection of crime.
The apprehension or prosecution of offenders.
The assessment or collection of a tax or duty.
By the order of a court or by any rule of law.

If the Company or any subsidiary processes Personal Data for one of these purposes, then it may apply an exception to the processing rules outlined in this Policy but only to the extent that not doing so would be likely to prejudice the case in question. If the Company or any subsidiary receives a request from a court or any regulatory or law enforcement authority for information relating to a Company contact, you must immediately notify the DPO who will provide comprehensive guidance and assistance.

1.9.Data Protection Training

All Company employees that have access to Personal Data will have their responsibilities under this Policy outlined to them as part of their staff induction training. In addition, the Company and any subsidiary will provide regular Data Protection training and procedural guidance for its/their staff.

1.10.Data Transfers

The Company or any subsidiary may transfer Personal Data to internal or third-party recipients located in another country where that country is recognised as having an adequate level of legal protection for the rights and freedoms of the relevant Data Subjects. Where transfers need to be made to countries lacking an adequate level of legal protection (i.e. third countries), they must be made in compliance with an approved transfer mechanism. The Company or any subsidiary may only transfer Personal Data where one of the transfer scenarios listed below applies:

The Data Subject has given consent to the proposed transfer.
The transfer is necessary for the performance of a contract with the Data Subject.
The transfer is necessary for the implementation of pre-contractual measures taken in response to the Data Subject’s request.
The transfer is necessary for the conclusion or performance of a contract concluded with a third party in the interest of the Data Subject.
The transfer is legally required on important public interest grounds.
The transfer is necessary for the establishment, exercise or defence of legal claims.
The transfer is necessary in order to protect the vital interests of the Data Subject.
made in regard to public data on a public register, and any conditions subject to which the register is open to inspection are complied with.
made on terms of a kind approved by the Ombudsman as ensuring adequate safeguards for the individual(s).
authorised by the Ombudsman as ensuring adequate safeguards for the individual(s).
required under international cooperation arrangements between intelligence agencies or regulatory agencies, if permitted or require under an enactment or an order issued by the Grand Court of the Cayman Islands.

For any functions that the Company outsources, such functions shall be compliant with CIMA’s Statement of Guidance on Outsourcing for Regulated Entities.

1.11.Complaints Handling

Under the Cayman DPA, a Data Subject in the Cayman Islands has the right to complain directly to the Ombudsman about any perceived violation of the Cayman DPA. Such complaint, if made directly, must relate to Personal Data processing that has not been or is not being carried out in compliance with the provisions of the Cayman DPA, or anything done pursuant to the Cayman DPA. The Ombudsman will consider the complainant and decide whether or not to investigate it. The Company asks that before any complaint is made directly to the Ombudsman the process set out below in relation to the GDPR be followed, so that the Company may have the opportunity to rectify the complaint. Should any complaint be made directly to the Ombudsman please notify the Data Protection Authority at the time that such complaint is made.

Under the GDPR, Data Subjects with a complaint about the processing of their Personal Data, should put forward the matter in writing to the DPO. An investigation of the complaint will be carried out to the extent that is appropriate based on the merits of the specific case. The DPO will inform the Data Subject of the progress and the outcome of the complaint within a reasonable period. If the issue cannot be resolved through consultation between the Data Subject and the DPO then the Data Subject may, at their option, seek redress through mediation, binding arbitration, litigation, or via complaint to the Data Protection Authority within the applicable jurisdiction.

1.12.Breach Reporting

Any individual who suspects that a Personal Data breach has occurred as a result of the theft or exposure of Personal Data must immediately notify the DPO providing a description of what occurred. Notification of the incident can be made via email or telephone. The DPO will investigate all reported incidents to confirm whether or not a Personal Data breach has occurred. If a Personal Data breach is confirmed, the DPO will follow the relevant authorised procedure based on the criticality and quantity of the Personal Data involved. For severe Personal Data breaches, the Directors will initiate and chair an emergency response team to coordinate and manage the Personal Data breach response.