Mason Financial Services Limited needs to gather and use certain information about individuals.
These can include customers, suppliers, business contacts, employees and other people the organisation has a relationship with or may need to contact.
This policy describes how this personal data must be collected, handled and stored to meet the company’s data protection standards thus complying with the legislation.
This data protection policy ensures Mason Financial Services Limited:
Background to the General Data Protection Regulation (‘GDPR’)
The General Data Protection Regulation 2016 replaces the EU Data Protection Directive of 1995 and supersedes the laws of individual Member States that were developed in compliance with the Data Protection Directive 95/46/EC. Its purpose is to protect the “rights and freedoms” of natural persons (i.e. living individuals) and to ensure that personal data is not processed without their knowledge, and, wherever possible, that it is processed with their consent.
The General Data Protection Regulation (GDPR) describes how organisations — including Mason Financial Services Limited must collect, handle and store personal information.
These rules apply regardless of whether data is stored electronically, on paper or on other materials.
To comply with the law, personal information must be collected and used fairly, stored safely and not disclosed unlawfully.
The Board of Directors of Mason Financial Services Limited located at 73 Lower Leeson Street, Dublin 2 are committed to compliance with all relevant EU and Member State laws in respect of personal data, and the protection of the “rights and freedoms” of individuals whose information Mason Financial Services Limited collects and processes in accordance with the General Data Protection Regulation (GDPR).
The GDPR and this policy are applicable to all Mason Financial Services Limited personal data processing functions, including those performed on customers’, clients’, employees’, suppliers’ and partners’ personal data, and any other personal data the organisation processes from any source.
The GDPR Owner is responsible for reviewing the register of data processing annually, in light of any changes to Mason Financial Services Limited activities (as determined by changes to the data inventory register and the management review) and to any additional requirements identified by means of data protection impact assessments (DPIA’s).
Partners and any third parties working with or for Mason Financial Services Limited, and who have or may have access to personal data, will be expected to have read, understood and to comply with this policy.
No third party may access personal data held by Mason Financial Services Limited without having first entered into a data confidentiality agreement, which imposes obligations on the third party no less onerous than those to which Mason Financial Services Limited is committed, and which gives Mason Financial Services Limited the right to audit compliance with the agreement.
The GDPR has increased requirements about what information should be available to data subjects, which is covered in the ‘Transparency’ requirement.
Transparently – the GDPR includes rules on giving privacy information to data subjects in Articles 12, 13 and 14. These are detailed and specific, placing an emphasis on making privacy notices understandable and accessible. Information must be communicated to the data subject in an intelligible form using, clear and plain language.
The specific information that must be provided to the data subject must, as a minimum, include:
NB: Recent advice received indicates that small brokers, those which are local rather than nationwide or do not have a large network of offices/brokers covering more than one county, are not likely to be required to appoint a DPO. A possible rule of thumb is customer numbers, so those in the hundreds rather than thousands are likely to be considered small for the purpose of this requirement
On at least an annual basis, the GDPR Owner will review the retention dates of all the personal data processed by Mason Financial Services Limited, by reference to the data inventory, and will identify any data that is no longer required in the context of the registered purpose.
When assessing appropriate technical measures, the GDPR Owner will consider the following:
When assessing appropriate organisational measures, the GDPR Owner will consider the following:
The GDPR includes provisions that promote accountability and governance. These compliment the GDPR’s transparency requirements. The accountability principle in Article 5(2). requires you to demonstrate that you comply with the principles and states explicitly that this is your responsibility.
Data subjects have the following rights regarding data processing, and the data that is recorded about them:
All individuals who are the subject of personal data held by Mason Financial Services Limited are entitled to:
Should an Individual contact the company requesting this information, this is called a Subject Access Request.
Subject Access Requests from individuals should be made by email, addressed to the data controller at (email address). The data controller can supply a standard request form, although individuals do not have to use this.
The data controller will aim to provide the relevant data within 30 days.
The data controller will always verify the identity of anyone making a subject access request before handing over any information.
Mason Financial Services Limited understands ‘consent’ to mean that it has been explicitly and freely given, and a specific, informed and unambiguous indication of the data subject’s wishes that, by statement or by a clear affirmative action, signifies agreement to the processing of personal data relating to him or her. The data subject can withdraw their consent at any time.
Mason Financial Services Limited understands ‘consent’ to mean that the data subject has been fully informed of the intended processing and has signified their agreement, while in a fit state of mind to do so and without pressure being exerted upon them. Consent obtained under duress or on the grounds of misleading information will not be a valid basis for processing.
There must be some active communication between the parties to demonstrate “active consent”. Consent cannot be inferred from non-responsive communications. The controller must be able to demonstrate that consent was obtained for the processing operation.
For sensitive data, explicit consent from data subjects must be obtained unless an alternative legitimate basis for processing exists.
All Employees/Staff are responsible for ensuring that any personal data that Mason Financial Services Limited holds and for which they are responsible, is kept securely and is not, under any conditions, disclosed to any third party unless that third party has been specifically authorised by Mason Financial Services Limited to receive that information and has entered into a confidentiality agreement.
All personal data should be accessible only to those who need to use it, and access may only be granted in line with the Access Control Policy.
All personal data should be treated with the highest security and must be kept:
Care must be taken to ensure that PC screens and terminals are not visible except to authorised Employees/Staff of Mason Financial Services Limited. All Employees/Staff are required to enter into an Acceptable Usage Agreement before they are given access to organisational information of any sort, which details rules on screen time-outs etc.
Manual records may not be left where they can be accessed by unauthorised personnel and may not be removed from business premises without explicit (written) authorisation. As soon as manual records are no longer required for day-to-day client support, they must be removed from secure archiving in line with your policies.
Personal data may only be deleted or disposed of in-line with the Retention of Records Procedure Manual.
Records that have reached their retention date are to be shredded and disposed of as ‘confidential waste’. Hard drives of redundant PCs are to be removed and immediately destroyed, as required before disposal.
Processing of personal data ‘off-site’ presents a potentially greater risk of loss, theft or damage to personal data. Staff must be specifically authorised to process data off-site.
Mason Financial Services Limited must ensure that personal data is not disclosed to unauthorised third parties which includes family members, friends, government bodies, and in certain circumstances, the Gardaí/Police. All Employees/Staff should exercise caution when asked to disclose personal data held on another individual to a third party. It is important to consider whether disclosure of the information is relevant to, and necessary for, the conduct of Mason Financial Services Limited business.
All requests to provide data for one of these reasons must be supported by appropriate paperwork and all such disclosures, must be, specifically authorised by the GDPR owner.
Mason Financial Services Limited shall not keep personal data in a form that permits identification of data subjects for a longer period than is necessary, in relation to the purpose(s) for which the data was originally collected.
Mason Financial Services Limited may store data for longer periods if the personal data will be processed solely for archiving purposes in the public interest, scientific or historical research purposes or statistical purposes, subject to the implementation of appropriate technical and organisational measures to safeguard the rights and freedoms of the data subject.
The retention period for each category of personal data will be set out in the Retention of Records Procedure, along with the criteria used to determine this period, including any statutory obligations Mason Financial Services Limited has, to retain the data.
Mason Financial Services Limited Data Retention, Data Disposal and Storage Removal Procedures will apply in all cases.
Personal data must be disposed of securely, in accordance with the sixth principle of the GDPR. Thus, processed in, an appropriate manner, to maintain security, thereby, protecting the “rights and freedoms” of data subjects. Any disposal of data, will be done in accordance with the Secure Disposal Procedure.
All exports of data from within the Non-European Economic Area (EEA) countries (referred to in the GDPR as ‘third countries’) are unlawful unless there is an appropriate “level of protection for the fundamental rights of the data subjects”.
The transfer of personal data outside of the EEA is prohibited unless one or more of the following specified safeguards, or exceptions, apply:
An Adequacy Decision
The European Commission can and does assess third countries, a territory and/or specific sectors within third countries to assess whether there is an appropriate level of protection for the rights and freedoms of natural persons. In these instances, no authorisation is required.
Countries that are members of the European Economic Area (EEA) but not of the EU are accepted as having met the conditions for an adequacy decision.
A list of countries that currently satisfy the adequacy requirements of the Commission are published in the Official Journal of the European Union. (Please see “Related Documentation” section below).
Assessment of Adequacy by the Data Controller
In Assessing adequacy, the UK based exporting controller, should consider the following factors:
Binding Corporate Rules (BCRs)
Mason Financial Services Limited may adopt, approved binding corporate rules for the transfer of data outside the EU. This requires submission to the relevant supervisory authority for approval of the rules that Mason Financial Services Limited is seeking to rely upon.
Model Contract Clauses
Mason Financial Services Limited may adopt approved model contract clauses for the transfer of data outside of the EEA. If Mason Financial Services Limited adopts the (model contract clauses approved by the relevant supervisory authority), there is an automatic recognition of adequacy.
In the absence of an Adequacy Decision, Privacy Shield membership, Binding Corporate Rules and/or Model Contract Clauses, a transfer of personal data to a third country or international organisation shall only take place on one of the following conditions:
Mason Financial Services Limited has established a data inventory and data flow process as part of its approach to address risks and opportunities throughout its GDPR compliance project namely;
Mason Financial Services Limited is aware of all risks associated with the processing of, specific types of personal data.
Mason Financial Services Limited assesses the level of risk to individuals associated with the processing of their personal data. Data Protection Impact Assessments (DPIAs) are carried out in relation to the processing of personal data by Mason Financial Services Limited and in relation to processing undertaken by other organisations on behalf of Mason Financial Services Limited
Mason Financial Services Limited shall manage any risks identified by the risk assessment, to reduce the likelihood of a non-conformance with this policy.
Where a type of processing, particularly using new technologies and considering the nature, scope, context and purposes of the processing is likely to result in a high risk to the rights and freedoms of natural persons, Mason Financial Services Limited shall, prior to the processing, carry out a Data Protection Impact Assessment (DPIA) of the impact of the envisaged processing operations on the protection of personal data. A single Data Protection Impact Assessment (DPIA) may address a set of similar processing operations that present similar high risks.
Following the result of a Data Protection Impact Assessment (DPIA), it is clear that Mason Financial Services Limited is about to commence processing of personal data that could cause damage and/or distress to the data subjects, the decision as to whether Mason Financial Services Limited may proceed must be escalated for review to the GDPR Owner.
The GDPR Owner shall, if there are significant concerns, either as to the potential damage or distress, or the quantity of data concerned, escalate the matter to the supervisory authority.
This policy helps to protect Mason Financial Services Limited from potentially, serious data security risks, including:
These rules describe how and where data should be safely stored. Questions about storing data safely can be directed to the IT manager or Data Controller.
When data is stored in paper format, it should be kept in a secure place where unauthorised people cannot see it.
These guidelines also apply to data that is usually stored electronically but has been printed out for some reason:
Personal data is of no value to Mason Financial Services Limited unless the business can make use of it. However, it is when personal data is accessed and used, that it can be at the greatest risk of loss, corruption or theft. For example:
The law requires Mason Financial Services Limited to take reasonable steps to ensure data is kept accurately and up to date.
The higher the importance, that the personal data is accurate, the greater the effort Mason Financial Services Limited should put into ensuring its accuracy.
It is the responsibility of all employees who work with data to take reasonable steps, to ensure it is kept as accurate and up to date as possible.
In certain circumstances, GDPR allows personal data to be disclosed to law enforcement agencies without the consent of the data subject.
Under these circumstances, Mason Financial Services Limited will disclose requested data. However, the data controller will ensure the request is legitimate, seeking assistance from the board of directors and from the company’s legal advisers, where necessary.
Mason Financial Services Limited aims to ensure that individuals are aware that their data is being processed, and that they understand:
To this end, the company has a Privacy Statement, setting out how data relating to individuals is used by the company.
(This is available upon request. A version of this statement is also available on the Company’s website).
Mason Financial Services Limited is a (Data Controller and/or Data Processor] under the GDPR. Note: All Brokers are classified as Data Controllers
Top Management and all those in managerial or supervisory roles throughout Mason Financial Services Limited are responsible for developing and encouraging good information handling practices within Mason Financial Services Limited; responsibilities are set out in individual job descriptions.
The GDPR Owner have specific responsibilities in respect of procedures such as the Subject Access Request Procedure and are the first point of call for Employees/Staff, seeking clarification on any aspect of data protection compliance.
Compliance with data protection legislation is the responsibility of all Employees/Staff of Mason Financial Services Limited who process personal data.
Mason Financial Services Limited Training Policy sets out specific training and awareness requirements in relation to specific roles and Employees/Staff of Mason Financial Services Limited generally.
Employees/Staff of Mason Financial Services Limited are responsible for ensuring that any personal data about them and supplied by them to Mason Financial Services Limited is accurate and up-to-date.
Everyone who works for or with Mason Financial Services Limited has some responsibility for ensuring data is collected, stored and handled appropriately.
Each team that handles personal data must ensure that it is handled and processed in line with this policy and data protection principles.
However, these people have key areas of responsibility:
Definitions used by the company drawn from the General Data Protection Regulation (GDPR)
Material scope (Article 2.)
The GDPR applies to the processing of personal data wholly or partly by automated means (i.e. by computer) and to the processing other than by automated means of personal data (i.e. paper records) that form part of a filing system or are intended to form part of a filing system.
Territorial scope (Article 3.)
The GDPR will apply to all controllers that are established in the EU (European Union) who process the personal data of data subjects, in the context of that establishment. It will also apply to controllers outside of the EU that process personal data in order to offer goods and services, or monitor the behaviour of data subjects who are resident in the EU.
The main establishment of the controller in the EU will be the place in which the controller makes the main decisions as to the purpose and means of its data processing activities. The main establishment of a processor in the EU will be its administrative centre. If a controller is based outside the EU, it will have to appoint a representative in the jurisdiction in which the controller operates to act on behalf of the controller and deal with supervisory authorities.
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.
Special Categories of Personal Data
Personal data revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, or trade-union membership, and the processing of genetic data, biometric data, for the purpose of, uniquely identifying a natural person, data concerning health or data concerning a natural person’s sex life or sexual orientation.
The natural or legal person, public authority, agency or other body which, alone or jointly with others, determines the purposes and means of the processing of personal data; where the purposes and means of such processing are determined by European Union or Member State law, the controller or the specific criteria for its nomination may be provided for by European Union or Member State law.
Any living individual who is the subject of personal data held by an organisation.
Any operation or set of operations which is performed on personal data or on sets of personal data, whether by automated means or not, 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.
Is any form of automated processing of personal data intended to evaluate certain personal aspects relating to a natural person, or to analyse or predict that person’s performance at work, economic situation, location, health, personal preferences, reliability, or behaviour. This definition is linked to the right of the data subject to object to profiling and a right to be informed about the existence of profiling, of measures based on profiling and the envisaged effects of profiling on the individual.
Personal Data Breach
A breach of security leading to the accidental, or unlawful, destruction, loss, alteration, unauthorised disclosure of, or access to, personal data transmitted, stored or otherwise processed. There is an obligation on the controller to report personal data breaches to the supervisory authority and where the breach is likely to adversely affect the personal data or privacy of the data subject.
Data Subject Consent
Any freely given, specific, informed and unambiguous indication of the data subject’s wishes by which he or she, by a statement or by a clear affirmative action, signifies agreement to the processing of personal data.
The GDPR and Children
A child is defined currently, as being under the age of sixteen, but member states may consider
lowering the legal age of consent to thirteen. The processing of personal data of a child is only lawful if parental or custodian consent has been obtained. The controller shall make reasonable efforts to verify in such cases that consent is given or authorised by the holder of parental responsibility over the child.
A natural or legal person, public authority, agency or body other than the data subject, controller, processor and persons who, under the direct authority of the controller or processor, are authorised to process personal data.
Any structured set of personal data which are accessible according to specific criteria, whether centralised, decentralised or dispersed on a functional or geographical basis.