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Privacy statement

Privacy statement

PERSONAL DATA (PRIVACY) ORDINANCE (CAP.486) (“PDPO”)

1.1 The Client may from time to time be requested by the uSmart Securities Limited (hereinafter referred to as “USL”) to supply personal data (as defined under the PDPO) relating to the Client. For the purposes of this Clause 1, personal data (i) in the case of individual account holders, joint account holders or sole proprietors, means personal data relating to the relevant individual concerned; (ii) in the case of a partnership, means personal data relating to each partner of the partnership; and (iii) in the case of a corporate entity, means personal data relating to any individual director, shareholder, officer or manager which has been provided to USL. Personal data also means those information about the Client collected by USL upon the Client’s usage of the provided services and products. This might include (but not limited to) financial information, credit record, investment preference and tendency, location information of mobile devices, browser details and IP addresses.

1.2 The Client shall provide all such personal data as shall be reasonably requested by USL in the Account Opening Form or otherwise, and any failure to do so may result in USL being unable to open or continue the Account, or to effect transactions under the Account. When the Client uses the product or service provided by USL, the Client may be required to permit the collection of personal data by USL upon request. Otherwise, the Client might not be able to use such product or service, or enjoy a more optimized experience.

1.3 The Client understands and accepts that USL may provide personal data received from the Client to the following persons (whether within or outside of Hong Kong) for the purposes set out in Clause 1.4:

(a) any nominees in whose name securities or other assets may be registered;

(b) any member or affiliated or related company in the uSmart Group1 including but not limited to USL’s parent and/or subsidiary companies;

(c) any contractor, adviser, agent or third party service provider which provides administrative, background checking, data processing, financial, computer, telecommunication, payment or clearing, professional or other services to USL in connection with the operation of its business or provision of financial services or products to the Client;

(d) any financial institution trading with or intended to trade with the Client;

(e) credit reference agencies, and, in the event of default, to debt collection agencies;

(f) any person as guarantor or intended to be guarantor;

(g) any person (or any member of the uSmart Group) who holds the duty of confidentiality for USL or has promised the confidentiality of such information;

(h) any person with whom USL enters into or proposes to enter into a transaction with on behalf of the Client or the Account, or the persons representing the same;

(i) any person who provides financial services or issues, distributes or provides financial products to the Client through or with USL;

(j) any foreign or local exchanges of securities, futures and/or other financial products where the Client’s orders to buy or sell such securities, futures and/or other financial products are placed or transacted; or their associated clearing houses or operators;

(k) any assignee, transferee, participant, sub-participant, delegate, successor or person to whom this Agreement is novated; and

(l) any foreign or local governmental, regulatory, supervisory, tax, law enforcement or other authorities, bodies or institutions.

1.4 The Client understands and accepts that the purposes for which the personal data provided by the Client from time to time may be used are:

(a) executing or giving effect to the Client’s orders relating to transactions or otherwise, and carrying out the Client’s other Instruction;

(b) providing financial services or products to the Client or in connection with the Account, whether the services or products are provided by or through any other member of uSmart Group or any other person, within or outside Hong Kong;

(c) providing personalized financial analysis and planning or designing financial services or products for the Client’s use;

(d) improving the products and services and optimizing the Client’s experience;

(e) marketing services or products which may be of interest to the Client;

(f) conducting credit inquiries or background checks on the Client and ascertaining the Client’s financial situation and investment objectives;

(g) ensuring that the Client or any guarantor maintains a reliable credit;

(h) collecting of amounts due, enforcing of security, charges or other rights and interests in favour of USL or any member of uSmart Group;

(i) complying with and/or enabling any affiliated or related company in the uSmart Group to comply with any foreign or local laws, regulations (including Foreign Account Tax Compliance Act, Automatic Exchange Of Financial Account Information, Common Reporting Standards and similar regulations), notifications, directives, guidelines or guidance given or issued by or in agreement with any legal, regulatory, governmental, tax, law enforcement or other authorities, exchanges, or self-regulatory or industry bodies or associations of financial services providers, within or outside Hong Kong, existing currently and in the future;

(j) complying with obligations, requirements, policies, procedures, measures and arrangements for sharing personal data and information within the uSmart Group and/or any other use of personal data in accordance with any uSmart Group wide programmes for compliance with sanctions or prevention or detection of money laundering, terrorist financing or other unlawful activities;

(k) enabling the actual or suggested transferee on the conditions of merge, combination, re-organization or other conditions to evaluate the trading planned to be transferred; and

(l) other purposes related or incidental to any one or more of the above.

1.5 USL may from time to time transfer the personal data of the Client outside Hong Kong to any of the persons referred to in Clause 1.3 above and for any of the purposes referred to in Clause 1.4 above.

1.6 When USL provides the Client with credit limit or financing arrangements or when the Client represents the other person of the guarantor, if the Client or the borrower is delinquent on the payment for more than sixty (60) days or other duration prescribed from time to time by laws or related regulations, the related credit information service institution can keep the information provided by USL for five (5) years starting from the final clear-off day or five (5) years starting from the day when the institution receives the notification of the Client’s discharge of bankruptcy, the earlier day being the standard. If the related Account is closed due to full payment and if there is no material delinquency five (5) years prior to the close of the Account, the Client is entitled to order USL to submit the request to the related institutions of deleting any Account information from the database but such order shall only be issued within five (5) years subsequent to the close of the Account.

1.7 Use of Personal Data in Direct Marketing

USL intends to use, from time to time, Client’s personal data in direct marketing of financial products and services, including but not limited to securities, futures, fixed income, currencies, commodities, wealth management, asset management, equity financing, equity derivatives, insurance, and other financial products and services. Only the following kinds of personal data of the Client may be used in such direct marketing:

(i) name;

(ii) gender;

(iii) date of birth;

(iv) part of identity card or passport number;

(v) contact information (including but not limited to phone number, fax number, email address, correspondence address and residential address);

(vi) information about the products and/or services the Client has purchased or applied for.

USL may not so use the data unless it has received the Client’s consent to the intended use. The Clients can always request USL not to receive direct marketing materials or related information in written form.

1.8 Provision of Personal Data for Use in Direct Marketing

USL intends to provide, from time to time and for money and other property, Client’s personal data to uSmart Group (other than USL itself) for use by uSmart Group in direct marketing of financial products and services, including but not limited to securities, futures, fixed income, currencies, commodities, wealth management, asset management, equity financing, equity derivatives, insurance, and other financial products and services. Only the following kinds of personal data of the Client may be provided to uSmart Group (other than USL itself) for use by uSmart Group in such direct marketing:

(i) name;

(ii) gender;

(iii) date of birth;

(iv) part of identity card or passport number;

(v) contact information (including but not limited to phone number, fax number, email address, correspondence address and residential address);

(vi) information about the products and/or services the Client has purchased or applied for.

USL may not so use the data unless it has received the Client’s consent to the intended use. The Clients can always request USL or member of uSmart Group engaging in direct marketing not to receive direct marketing materials or related information in written form.

1.9 China Connect Securities Trading Service

The Client acknowledges and agrees that in providing USL’s China Connect securities trading service to the Client, USL will be required to:

(i) tag each of the Client’s orders submitted to the China Stock Connect System (“CSC”) with a Broker-to-Client Assigned Number ("BCAN") that is unique to the Client or the BCAN that is assigned to the Client’s joint account with USL, as appropriate; and

(ii) provide to the Exchange the Client’s assigned BCAN and such identification information (“Client Identification Data” or “CID”) relating to the Client as the Exchange may request from time to time under the Rules of the Exchange.

Without limitation to any notification USL has given the Client or consent USL has obtained from the Client in respect of the processing of the Client’s personal data in connection with the Client’s account and USL’s services to the Client, the Client acknowledges and agrees that USL may collect, store, use, disclose and transfer personal data relating to the Client as required as part of USL’s China Connect securities trading service, including as follows:

(a) to disclose and transfer the Client’s BCAN and CID to the Exchange and the relevant SEHK Subsidiaries from time to time, including by indicating the Client’s BCAN when inputting a China Connect Order into the CSC, which will be further routed to the relevant China Connect Market Operator on a real-time basis;

(b) to allow each of the Exchange and the relevant SEHK Subsidiaries to: (i) collect, use and store the Client’s BCAN,CID and any consolidated, validated and mapped BCANs and CID information provided by the relevant China Connect Clearing House (in the case of storage, by any of them or via SEHK) for market surveillance and monitoring purposes and enforcement of the Rules of the Exchange; (ii) transfer such information to the relevant China Connect Market Operator (directly or through the relevant China Connect Clearing House) from time to time for the purposes set out in (c) and (d) below; and (iii) disclose such information to the relevant regulators and law enforcement agencies in Hong Kong so as to facilitate the performance of their statutory functions with respect to the Hong Kong financial markets;

(c) to allow the relevant China Connect Clearing House to: (i) collect, use and store the Client’s BCAN and CID to facilitate the consolidation and validation of BCANs and CID and the mapping of BCANs and CID with its investor identification database, and provide such consolidated, validated and mapped BCANs and CID information to the relevant China Connect Market Operator, the Exchange and the relevant SEHK Subsidiary; (ii) use the Client’s BCAN and CID for the performance of its regulatory functions of securities account management; and (iii) disclose such information to the Mainland regulatory authorities and law enforcement agencies having jurisdiction over it so as to facilitate the performance of their regulatory, surveillance and enforcement functions with respect to the Mainland financial markets; and

(d) to allow the relevant China Connect Market Operator to: (i) collect, use and store the Client’s BCAN and CID to facilitate their surveillance and monitoring of securities trading on the relevant China Connect Market through the use of the China Connect Service and enforcement of the rules of the relevant China Connect Market Operator; and (ii) disclose such information to the Mainland regulatory authorities and law enforcement agencies so as to facilitate the performance of their regulatory, surveillance and enforcement functions with respect to the Mainland financial markets.

By instructing USL in respect of any Transaction relating to China Connect Securities, the Client acknowledges and agrees that USL may use the Client’s personal data for the purposes of complying with the requirements of the Exchange and its rules as in force from time to time in connection with the Stock Connect Northbound trading. The Client also acknowledges that despite any subsequent purported withdrawal of consent by the Client, the Client’s personal data may continue to be stored, used, disclosed, transferred and otherwise processed for the above purposes, whether before or after such purported withdrawal of consent.

1.10 Consequences of failing to provide Personal Data or Consent

Failure to provide USL with the Client’s personal data or consent as described above may mean that USL will not, or no longer be able, as the case may be, to carry out the Client’s trading Instructions or provide the Client with USL’s China Connect securities trading service.

1.11 The Client shall acknowledge and accept that the risk of data disclosure under this Agreement may include recipients disclose information to other persons according to the laws of the country. Due to the application of different laws and regulations, as compared with the situation in Hong Kong, the scope of application of some laws may be wider, its execution may also be more lenient. When clients provide any data (including personal information) to USL, the Client shall state, represent and warrant that the Client has been authorized to take all necessary actions to be disclosed to USL and allow USL to use such data in accordance with this Agreement.

1.12 The Client has the right to request a copy of such personal data and may request the correction of the personal data (if applicable). Any such request must be made in accordance with the PDPO and shall be addressed to the Data Protection Officer of USL at Unit 2606,26/F, FWD Financial Centre, 308 Des Voeux Road Central, Hong Kong. The Client understands that a fee shall be charged by USL for any such request.

1 “uSmart Group” means USL and its Affiliates. “Affiliate” means, in relation to USL, any entity controlled, directly or indirectly, by USL, any entity that controls, directly or indirectly, USL or any entity directly or indirectly under common control with USL.