Dear investor,
Thank you for trusting us and choosing our products! We would like to inform you of the latest regulations concerning the protection of individuals with regard to the processing of personal data and the free movement of such data.
As of 25 May 2018, the new EU Regulation on the protection of personal data (GDPR), whose main goal is to prepare Europe for the realities of the new digital economy, will enter into force. This Regulation marks an essential step towards the strengthening of citizens’ fundamental rights in the digital era, while promoting economic activity through a set of simplified rules for the companies which are active on the single digital market.
SAI Erste Asset Management (SAI Erste), as investment fund / individual investment portfolio manager processes the personal data of investors pursuant to a legal obligation set forth in the applicable legal provisions (i.e. the Law on the prevention and control of money laundering and other specific laws and regulations applicable to asset management companies).
If investors object to the processing of personal data required for identification purposes, SAI Erste will not be able to provide the asset management services within the scope of its authorisation, and comply with the applicable legal requirements.
Please rest assured that the personal data you make available to us will be treated with due care and pay attention to the following important information.
Useful definitions
Personal data means any information relating to an identified or identifiable natural person (“data subject”); an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.
Processing means any operation or set of operations which is performed on personal data or on sets of personal data, whether or not by automated means, such as collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.
Processing of personal data for direct marketing purposes
The processing of personal data for direct marketing purposes has as legal basis the legitimate interest of keeping you up to date with the status of our products. The marketing materials sent to you by SAI Erste offer relevant information concerning the products you chose to invest in.
Examples of marketing materials provided to you by SAI Erste: Monthly newsletters concerning the investments and performance of our funds, brochures with general information concerning our funds, etc.
You have the right to object to the processing of your personal data for direct marketing purposes. To this end, you may visit the SAI Erste headquarters or any Romanian Commercial Bank branch, where you will fill in a form.
SAI Erste may transmit investor information (i.e. personal data and other information concerning investor transactions/portfolios) to the following categories of recipients: the Financial Supervisory Authority, the Romanian Commercial Bank, service providers, business partners, other entities within Erste Group Bank AG / Erste Asset Management GmbH, individuals/legal entities processing personal data on behalf of SAI Erste, courts of law, central/local public authorities, tax authorities, law enforcement authorities, and Government or other regulatory bodies and authorities in any jurisdiction, provided that SAI Erste is legally / contractually required to disclose such information or in order for SAI Erste to meet its obligations to investors.
According to the applicable legal provisions, SAI Erste will store the personal data of investors for a period of at least 5 (five) years from termination of the relevant business relationship.
In the event of receiving personal data from third parties, SAI Erste will inform you of the categories of personal data concerned and the third party sources of such data.
Your rights
The new GDPR provides data subjects with a number of additional rights, as listed below:
• Right of access: you have the right to obtain from SAI Erste confirmation as to whether or not personal data concerning you are being processed, and, where that is the case, access to the personal data and the manner in which they are processed.
• Right to rectification: your right to obtain from SAI Erste without undue delay the rectification of inaccurate personal data concerning you.
• Right to erasure (“right to be forgotten”): you have the right to obtain from SAI Erste the erasure of personal data concerning you when: (i) the personal data are no longer necessary in relation to the purposes for which they were collected or otherwise processed; (ii) the data subject withdraws his/her consent; (iii) the personal data have been unlawfully processed; (iv) the personal data have to be erased for compliance by SAI Erste with a legal obligation.
• Right to restrict the processing: your right to restrict the processing of your personal data in the following cases: (i) the accuracy of the personal data is contested by you; (ii) the processing is unlawful and you oppose the erasure of your personal data and request the restriction of their use instead; (iii) SAI Erste no longer needs the personal data for the purposes of the processing, but they are required by you for the establishment, exercise or defense of legal claims.
• Right to data portability: you have the right to receive the personal data concerning you, which you have provided to SAI Erste.
• Right to object: you have the right to object, on grounds relating to your particular situation, at any time to processing of personal data concerning you. In this case, SAI Erste will no longer be able to provide the management services it was authorised to perform, since it will not be able to meet the applicable legal requirements.
• The right not to be subject to a decision based solely on automated processing, including profiling, which produces legal effects concerning you or similarly significantly affects you.
The rights above may be exercised by way of a request in writing, signed, dated and sent/submitted to the SAI Erste headquarters, any Romanian Commercial Bank branch or to protectiadatelor@erste-am.ro
SAI Erste has appointed a Data Protection Officer (DPO), as required by the applicable legal provisions. Contact data: SC.Expert Company OIL.SRL, Sos. Colentina, No. 3A, Bl. 33A, Sc. A, Floor 6, Ap. 24, Sector 2, Bucharest, 2 County, Romania; Phone: 0749 465 521. e-mail: office.expertcompany@gmail.com.