Last updated: May 2018
Protecting your personal information is extremely important to Legal & General UCITS ETF PLC (the "Fund") and its management company, LGIM ETF Managers Limited (the “Management Company”) (together, “we” or “us”) as shareholders in the Fund ("Shareholders") trust us to look after a huge amount of personal information.
The way we, acting as joint data controllers, collect and share your information is equally important. We will collect and process the personal data of living individuals who are registered Shareholders, applicants for shares, beneficial owners of registered Shareholders and applicants for shares, personal representatives, financial advisors, directors, officers, employees, agents, trustees and / or authorised signatories of registered Shareholders and applicants for shares ("Individuals"). The Fund's Shareholders and other Individuals expect us to manage their information privately and securely. If we don’t, they’ll lose their trust in us. This policy tells you how we collect and process your personal information. Please take a few minutes to read it, and show it to anyone else connected to the policy.
What is personal information?
When we talk about personal information we mean any information which we have or obtain, or which an Individual provides to us or one of our service providers, about an Individual that can identify them, like their name, address, e-mail address, telephone number and financial details. Any reference to "information" or "data" in this policy is a reference to personal information about a living individual. Some of this data may be sensitive personal data, such as data revealing racial or ethnic origin, or political opinions (“Sensitive Personal data”).
What information do we hold?
We, another member of the Legal & General group of companies (the "Legal & General Group"), or one of our service providers may collect and process personal information about you that may include:
- Analysis and profiling
|Type of data||Description||Examples of how we use it|
|Documentary data and national identifiers||
Where do we get our information from?
- Information you give us directly (when you fill in application forms to subscribe for shares in the Fund, or contact us by phone, e-mail etc.).
- Information that appears on the Fund's electronic share register (CREST). This might include details as recorded in the CREST system of which you may be a member such as CREST ID, name, address, domicile and account designation.
Where we need to process personal data in connection with a registered Shareholder’s contract with the Fund or in anticipation of an applicant for shares becoming a registered Shareholder, or where we have a legal obligation to collect certain personal data relating to an Individual (for example in order to comply with anti-money laundering obligations), in situations where you refuse to communicate your personal data or fail to provide such personal data in a form which is satisfactory to us, we may be required to restrict or prevent your request for ownership of shares in the Fund. The Fund, its depositary and/or administrator and/or the Management Company (as the case may be) shall be held harmless and indemnified against any loss arising as a result of the restriction or prevention of the ownership of shares.
How do we use your information?
We use personal information that we hold about you:
- To carry out our responsibilities resulting from any agreements you’ve entered into with us, or in anticipation of an agreement that you may enter into with us, including, without limitation, assessing the initial application for shares, facilitating the opening of the account with the Fund, the payment of dividends and liquidation proceeds, the processing of redemptions, conversion, transfer and additional subscription requests and the processing and verification of instructions and to provide you with the information, products and services that you have asked from us.
- To comply with any applicable legal or regulatory requirements including:
- "Know your customer" and anti-money laundering checks.
- Compliance with any applicable tax or regulatory reporting or disclosure requirements.
- Where we are ordered to disclose information by a court with appropriate jurisdiction.
- Where the use is for a legitimate interest of the Fund / Management Company, including:
- For day to day operational and business purposes.
- To take advice from our legal and other advisors.
- For carrying out board reporting and for management purposes, including quality assurance.
- To tell you about changes to our services and products.
- To tell you about any proposed changes to the Fund or any sub-fund of the Fund and to notify you of any upcoming shareholder meetings (AGMs and EGMs).
- In the event of a merger or proposed merger of the Fund or any sub-fund of the Fund, or any other restructuring or reorganisation of the Fund or any sub-fund of the Fund or relating to the assets of the Fund or any sub-fund of the Fund.
- Where the use or sharing is for a legitimate purpose of another company within the Legal & General Group, or of a third-party to which we provide the personal data, including:
- For day to day operational and business purposes.
- For investor relationship management.
- For the calculation and payment of commissions and rebates.
- For carrying out market research, and statistical analysis and customer profiling to help us to improve our processes and our products and services (e.g. to understand digital behaviours, identify financial attitudes and develop more engaging communications).
- To define our actuarial, pricing and underwriting strategies.
- To run our business in an efficient and proper way. This includes testing our systems, managing our financial position, business capability, planning, communications, corporate governance, and audit.
- Where necessary, to establish, exercise or defend our legal rights or for the purpose of legal proceedings.
- For any other purpose that you have consented to from time to time.
In some cases, we may use systems to make automated decisions (including profiling) based on the personal information we have, or collect from others. These may include:
- The prevention and detection of fraud.
- Personalising the content and design of communications and online services.
- Determining when to provide tailored servicing communications (e.g. changes in your personal circumstances or lifestyle), and the appropriate channel(s) to use.
We may, in limited circumstances, collect and process Sensitive Personal Data in connection with our obligations under applicable anti-money laundering laws. Any Sensitive Personal Data will only be used and disclosed, as necessary for such purpose.
Using your information in accordance with data protection laws
- Providing our contracts and services to you: We’ll process your personal information to carry out our responsibilities resulting from any agreement(s) you’ve entered into with us or as a result of any investment you have made in the Fund (i.e. administering your shares in the Fund, maintaining the register of Shareholders, processing subscriptions, redemptions (if any) and payments of dividends and liquidation proceeds to you).
- Complying with applicable laws: We may process your personal information to comply with any legal obligation we’re subject to (e.g. for the purpose of complying with applicable anti-money laundering rules and other legal obligations).
- Carry out market research and product development, which can include creating customer demographics and/or profiling.
- Study and also manage how our customers use products and services from us and our business partners.
- Manage risk for us and our customers.
Please be aware that the personal information you provide to us, and which we collect about you, is required for us to be able to provide our services to you and without it we may not be able to do so.
How long do we keep your information for?
We’ll keep your personal information in accordance with our internal retention policies, and applicable laws. We’ll determine the length of time we keep it for based on the minimum retention periods required by law or regulation. We’ll only keep your personal information after this period if there’s a legitimate and provable business reason to do so, but in any case, your personal data shall not be retained for periods longer than necessary for the purpose of the data processing, subject to applicable statutory periods of limitation. We will use reasonable efforts to keep your data up-to-date. However, each Individual will need to notify us without delay in the event of any change in his / her personal circumstances, or those of the others mentioned above, so that we can keep the data up-to-date.
Who do we share your personal information with?
We may disclose your personal information to relevant service providers and/or other third parties including:
- other companies within the Legal & General Group such as Legal & General Investment Management (Holdings) Limited, the Investment Manager and the Distributor (as defined in the Fund’s prospectus);
- Administrator, Registrar, Depositary, Auditors, Secretary (as defined in the Fund’s prospectus), legal advisors, MLRO, sub-distributors, paying agents or representatives and listing sponsors; and
- the Irish Revenue and other national revenue authorities, national regulators including the Central Bank of Ireland, An Garda Síochána (the Irish police), any relevant banking or payroll provider,
for the purposes listed under "How do we use your information" above.
Additionally, we may disclose your personal information:
- In the event that we sell or buy any business or assets, in which case we’ll disclose your personal data to the prospective seller or buyer of such business or assets.
- If we, or substantially all of our assets, are acquired by a third party, in which case personal data held by us about our Shareholders will be one of the transferred assets.
- If you have been dealing with a financial adviser, we’ll provide information about your product and, where appropriate, other information about your dealings with us, to enable the adviser to give you informed advice.
- In order to enforce or apply the terms of any contract with you.
- If we’re under a duty to disclose or share your personal data in order to comply with any legal obligation or regulatory requirements, or otherwise for the prevention or detection of fraud or crime.
To protect you and/or the Fund from financial crime and/or any adverse tax consequences, we may be required to verify the identity of new and sometimes existing Shareholders. This may be achieved by using reference agencies to search sources of information relating to you (an identity search). If this fails, we may need to approach you to obtain documentary evidence of identity. The personal information recipients listed above (the "Recipients") may, as the case may be, processing personal data as data processors (when processing personal data upon our instructions, to assist us in the context of the aforementioned purposes) or as distinct data controllers (when processing personal data for their own purposes).
If you’ve been introduced to us by another company (such as a bank, distributor or other intermediary), we may share your information with them to enable them to:
- Carry out market research and statistical analysis and customer profiling.
- Assist you with your application process.
We will check your details with fraud prevention agencies. If false or inaccurate information is provided and fraud is identified details will be passed to fraud prevention agencies. Law enforcement agencies may access and use this information. We may also share information about you with other organisations and public bodies, including the police and we may check and/or file your details with fraud prevention agencies and databases.
We and other organisations may also access and use this information to prevent fraud and money laundering, for example, when checking details on applications to subscribe for shares in the Fund.
We and other organisations may access and use from other countries the information recorded by fraud prevention agencies. Please contact the Management Company’s Financial Crime department if you wish to receive the relevant details of the fraud prevention agencies:
Address: Legal & General Investment Management Financial Crime, 3rd Floor, Brunel House, 2 Fitzalan Road, Cardiff CF24 0EB, United Kingdom.
Telephone: +44 (0)2920 276005
We may also check the details of other parties related to your contract, including verification of identity. This includes persons connected to you but with whom we do not directly communicate, such as beneficiaries, trustees, settlors, executors or administrators of your estate, parties with power of attorney and any other beneficial owner.
Transferring your data outside the EEAA
We’ll only transfer your personal data to Processors and/or Recipients located in countries outside the EEA where we’re permitted to do so by the Data Protection Laws, for instance, (a) where the transfer is to a territory that is deemed adequate by the European Commission; (b) where the Processor or Recipient is subject to an approved certification mechanism and the personal information is subject to appropriate safeguards; or (c) where the transfer is based on standard contractual clauses adopted or approved by the European Commission ("Model Clauses"). If the Fund and / or the Management Company enter into Model Clauses with Processors or Recipients located outside the EEA, such Model Clauses can be obtained by contacting the Data Protection Officer by any of the means listed below.
Unfortunately, sending information via e-mail is not completely secure; anything you send is done so at your own risk. Once received, we will secure your information in accordance with our security procedures and controls.
You have rights under the conditions set out by the Data Protection Laws that relate to the way we process your personal data. If you wish to exercise any of these rights, please contact the Data Protection Officer by any of the means listed below. Alternatively, you can also use the Contact us section of our website.
1. The right to access the personal data that we hold about you.
2. The right to correct or update any inaccurate personal data we hold about you.
Investors who have purchased ETF Shares on the secondary market and who appear as a Shareholder on the Fund’s electronic share register (CREST register) wishing to correct any inaccuracies in their personal data as recorded on the Fund’s CREST register should liaise directly with CREST in order to rectify such inaccuracies.
3. The right to make us erase any personal data we hold about you. This right will only apply where for example:
- We no longer need to use the personal data to achieve the purpose we collected it for.
- You withdraw your consent if we are processing your personal data based on that consent.
- Where you object to the way we use your data and there is no overriding legitimate interest which we can rely on to continue processing your data.
4. The right to restrict our processing of the personal data we hold about you. This right will only apply where for example:
- You dispute the accuracy of the personal data we hold.
- You would like your data erased, but we require to hold it in order to stop its processing.
- You have the right to require us to erase the personal data but would prefer that our processing is restricted instead.
- Where we no longer need to use the personal data to achieve the purpose we collected it for, but you need the data for legal claims.
5. The right to object to our processing of personal data we hold about you.
6. The right to receive personal data, which you have provided to us, in a structured, commonly used and machine-readable format. You also have the right to make us transfer this personal data to another organisation (data portability).
In any case where we are relying on your consent to process personal data, you have the right to change your mind and withdraw consent by writing to the Data Protection Officer by any of the means listed below. Where we are relying on a legitimate purpose of the Fund / Management Company, a member of the Legal & General Group or a third-party recipient of the personal data, in order to use and disclose the personal data, you are entitled to object to such use or disclosure of your personal data and if you do so, we will cease to use and process such data for that purpose unless we can show that there are compelling legitimate reasons for it to continue or we need to use the personal data for the purposes of legal claims.
Contacts and complaints
If you have any concerns about the way we process your personal data, or are not happy with the way we have handled a request by you in relation to your rights, you also have the right to make a complaint to the Data Protection Commissioner in Ireland at the following address:
Office of the Data Protection Commissioner. Canal House, Station Road, Portarlington, Co. Laois, R32 AP23, Ireland.
Data Protection Officer
Legal & General Group has appointed a Data Protection Officer to provide independent expert advice and monitor compliance with Data Protection Laws:
Name: Liz Gaspar
E-mail address: Data.Protection@landg.com
Address: 1 Coleman Street, London, EC2R 5AA, United Kingdom.