(A) DATA COLLECTION
Generally, we collect two types of information from our clients and/or users of our website, including:
- Personal information, which includes but is not limited to the client's name, residential address, identification and/or passport number, date of birth, email address, employment details, information relating to financial circumstances, investment experience (collectively "Personal Information"); and
- Traffic pattern information relating to the users on our website.
Personal Information is collected at the time when the client applies for an SCM SG trading account (this would include a demo account as well) and through any other communications that the client may have with our representative(s) during the course of their relationship with us. SCM SG will limit the collection of Personal Information to what is necessary in order for us to provide you with the required products and services.
SCM SG may also collect other information from time to time, such as through client surveys used for research and feedback purposes in our efforts to continuously improve on the quality of our services and the products we offer. Personal Information collected online may be consolidated with other information provided to SCM SG by the client either via physical copies or other sources. Information may also be collected indirectly from monitoring or other means such as recording of telephone calls and monitoring of emails. In these circumstances, the information is not accessed on a continuous or routine basis, but may be used for compliance or security purpose.
Traffic pattern information includes information on webpages accessed by users, and number of users who frequent our website and/or our trading platform(s), etc. Such information is anonymous and only used in an aggregated form. We also collect information through 'Cookies', which are further explained below.
(B) PURPOSE FOR COLLECTION, PROCESSING AND DISCLOSURE OF PERSONAL DATA
Generally, Personal Data and aggregated information collected are used for the following purposes:
- To provide our products and/or services to our clients, which shall include:
- the execution or administration of any transaction(s) requested and/or authorised by our clients;
- the maintenance, servicing and/or termination of our clients' accounts;
- To enhance the content and user experience of our website and to notify our clients of such enhancements/upgrades/updates
- To disseminate/distribute information for marketing purposes about product and/or services offered that are similar or related to the products and/or services provided or previously provided to the client. (Do note that the client is always able to contact us to stop receiving such information via the unsubscribe facility or to contact us accordingly.)
- For legal and compliance reasons on our part under applicable laws, which shall include:
- conduct of due diligence procedures for opening of accounts and ongoing monitoring purposes;
- other monitoring and compliance procedures in line with our internal risk management procedures, audit/financial accounting and for management reporting purposes;
- execution of bank withdrawals and/or deposits;
- enforcement of legal rights;
- where information is to be disclosed to law enforcement agencies and other relevant authorities for crime prevention and detection purposes;
Processing and Disclosure
Please note that SCM SG may share, process and disclose Personal Information under the following circumstances:
- disclosure to our parent company and/or group companies, who are permitted to use, process and/or disclose Personal Information for a valid business or legal purpose;
- disclosure to business partners or third party service providers on a need-to-know basis who would be bound by non-disclosure agreements to the extent as set out in the agreements unless otherwise permitted by law – this may include verification of your identity and the authenticity of the supporting documents provided as evidence of your identity via relevant government bodies, credit reporting agencies and/or any other agencies;
- disclosure to SCM SG's legal counsels, accountants, auditors and any other professional consultants;
- disclosure to persons with legal/beneficiary interest to the client's account, including persons who are acting in a fiduciary, authorised representative and/or legal capacity;
- disclosure as required by law and/or any applicable legal requirement(s) (including towards the prevention of any fraudulent, illegal or unlawful transaction, claim or liability) to governmental, regulatory and/or law enforcement agencies and/or in compliance with any judicial process and assistance rendered for any legal and/or regulatory investigations;
Please note that SCM SG may also share and/or disclose non-personal and non-individualistic information in aggregate or anonymised form with third party service providers for business purposes.
(C) TRANSFER OF PERSONAL INFORMATION OVERSEAS
To the extent that SCM SG may need to transfer Personal Information outside of Singapore (such as for data storage, data management and/or consolidation purposes), whether to our parent company, group companies, business partners or third party service providers or simply to data storage facilities, we shall do so in accordance with the Personal Data Protection Act 2012 ("PDPA") and ensure that the standard of protection applied to Personal Information so transferred is comparable to the protection required under the PDPA.
Generally, when SCM SG requests for Personal Information in the course of providing you a service and/or product and where you provide us with such Personal Information, there is implied consent that you agree to provide us with your Personal Information in order for us to provide you with the requested service and/or product.
In some circumstances and as required by applicable law, we will seek your express consent when collecting your Personal Information. This is particularly where fresh consent is required for a new purpose in which your Personal Information will be used.
By providing Personal Information relating to a third party (such as (but not limited to) information of your spouse, children and/or parents) to us, you represent and warrant that the consent of that third party has been obtained for the collection, use and/or disclosure of the Personal Information for the purposes listed here.
Personal Information will be held for as long as it is necessary to fulfil the purpose for which it was collected, or as required or permitted by applicable law. SCM SG shall cease to retain Personal Information or remove the means by which Personal Information can be associated with particular clients, as soon as it is reasonable to assume that the purpose for which that Personal Information was collected is no longer valid and retention is no longer necessary for legal or business purposes.
(F) ACCURACY AND CORRECTION
SCM SG endeavours to ensure that your Personal Information is as accurate and up-to-date as possible. We usually send out an annual reminder to our clients to inform us of any change to their Personal Information or business information. However, you may contact us at any time if you wish to correct, amend or update your Personal Information or business information (for our corporate clients). Clients should contact their account representative and individuals who are not clients should contact DPC@saxomarkets.com.sg.
(G) ACCESS RIGHTS
You are also entitled to certain access rights to your Personal Information. To make a request, please contact us by completing this form; whereupon your request will be acknowledged and acted upon generally within thirty (30) days of receipt of such request. If for any reason, we are unable to accede to your request, you will be notified accordingly.
Please note that SCM SG is entitled to charge a reasonable administrative fee for this service which you will be advised of prior to us acting upon the request.
(H) SECURITY SAFEGUARDS
SCM SG has in place various security procedures, technical and organisational measures to safeguard your Personal Information. To protect against external attacks, we have in place robust firewalls and security measures to detect, isolate and prevent against hacking and other malware intrusions to our IT systems.
Further SCM SG employees also undergo periodic security awareness programmes to create awareness in information security so that employees are able to identify and respond appropriately to security risks.
We use all reasonable efforts to safeguard your Personal Information. However, you should be aware that the use of the Internet is not entirely secure and for this reason we cannot guarantee the security or integrity of any Personal Information which is transferred from you or to you via the Internet. You should also be mindful that you are responsible for keeping your access rights confidential and secure at all times. Please read more about our Security Guidelines.
(K) GOVERNING LAW
(L) CONTACT US
Attention: Data Protection Committee
Address: 3 Church Street, Samsung Hub #30-00
Our website may contain links to other websites. Please note that we are not responsible for the privacy practices of such other websites and advise you to read the privacy statements of each website you visit which collects Personal Information.