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Regulations & Compliance » Privacy Policy

Privacy Policy

Privacy Statement

This Privacy Statement explains how BBY(NZ) Limited (“BBY New Zealand”) collects, maintains, uses and discloses your personal information. It also provides some detail about the rights that customers have in respect of their personal information. BBY New Zealand is committed to implementing and promoting a privacy policy which will ensure the privacy and security of your Personal Information.

By accessing this website (“the website”) or by submitting an application to open an account with BBY New Zealand, you consent to BBY New Zealand collecting, maintaining, using and disclosing personal information about you and provided by you as described in this Privacy Statement.

  1. Information Privacy Principles
    1. BBY New Zealand abides by the Information Privacy Principles established under the Privacy Act 1993 (the “Act”).  The Act contains twelve ‘Information Privacy Principles’ that govern the collection, use, and disclosure of personal information (i.e., information about an identifiable individual), and prescribes rules detailing the storage, security, access and accuracy of your personal information obtained by us
  2. Collection of Personal Information
    1. As a licensed foreign exchange and futures advisor we are subject to certain legislative and regulatory requirements which necessitate us obtaining and holding detailed information which personally identifies you and/or contains information or an opinion about you (“Personal Information”).
    2. We will not collect any Personal Information about you except where you have knowingly provided that information to us or authorised a third party to provide that information to us.
    3. Generally, collection of your Personal Information will be effected either by face to face interviews, over the telephone, by email or by completion of a client account application form. From time to time additional and/or updated Personal Information may be collected through one or more of those methods.
    4. BBY New Zealand may record telephone conversations between you and persons working for BBY New Zealand. Such recordings, or transcripts from such recordings, may be used to resolve any dispute between you and BBY New Zealand. Recordings or transcripts of your telephone conversations may be destroyed within 10 days, but are commonly retained for up to three months after the date of the conversation.
  3. Use and Disclosure of Personal Information
    1. We will not use or disclose Personal Information collected by us for any purpose other than:
      • the purposes for which it was provided or secondary related purposes in circumstances where you would reasonably expect such use or disclosure; or
      • as is reasonably required to adequately provide our services to you including all things necessary or incidental to carrying out those services;
      • where you have consented to such disclosure; or
      • where the Information Privacy Principles authorise use or disclosure where required or authorised under law, in circumstances relating to public health and safety and in connection with certain operations by or on behalf of an enforcement body.
    2. We are required under the law to make certain information available for inspection by the Financial Markets Authority and other regulatory bodies on request to ensure ongoing compliance with licensing and regulatory requirements, including anti-money laundering legislation and KYC guidelines requiring verification of your identity. This may involve the disclosure of your Personal Information.
    3. We will not sell your information to third parties. We may in the future contact you to inform you of new services and products available from BBY New Zealand. If you do not wish to receive these offers kindly e-mail us as below and advise us that you do not wish to receive this information.
    4. In order to give effect to your instructions and the recommendations made by us, and to adequately provide services to you, we may disclose your Personal Information to the following;
      • financial institutions and other similar organisations that it deals with in the course of its corporate activities, or those that are nominated by you;
      • external service providers and professional advisers (which may be located overseas) that provide services to us;
      • any organisation at your request or any persons acting on your behalf, including your financial adviser, broker, solicitor or accountant;
      • regulatory and government bodies from time to time in New Zealand and other countries.
    5. We may disclose your Personal Information to external contractors for the following purposes:
      • execution, clearing and settlement of transactions;
      • registration and/or changes to shareholder details;
      • accounting for transactions;
      • causing statutory audits to be conducted as required by law;
      • determining credit worthiness and for debt collection;
      • maintenance and service of our information technology systems; and
      • in the course of reviews by external consultants or appointed parties.
    6. You can be assured that your information will be maintained by any external contractor to whom it is disclosed in accordance with this policy. If you have any concerns in this regard, you should contact us by any of the methods detailed below.
  4. Information storage and security
    1. Your Personal Information is generally held in your client file. Information may also be held in a computer database.
    2. We will at all times seek to ensure that the Personal Information collected and held by us is protected from misuse, loss, unauthorised access, modification or disclosure. At all times your Personal Information is treated as confidential and any sensitive information is treated as highly confidential and stored securely. Access to our premises is controlled by allowing only personnel with security passes to access the premises. Unauthorised persons are strictly prohibited from entering our dealing rooms. All computer based information is protected through the use of access passwords on each computer and screen saver passwords. Data is backed up each evening.
    3. In the event you cease to be a client of the BBY New Zealand, any Personal Information which we hold about you will be maintained in a secure storage facility for a period of 7 years in order to comply with legislative and regulatory requirements, following which time the information will be destroyed.
    4. When permitted by your agreement with us, telephone recordings of your conversations with us may be kept, used and deleted prior to the expiry of the 7 year period.
  5. Access to your Personal Information
    1. You may at any time request access to your Personal Information and we will (subject to the following exceptions) provide you with access to that information either by providing you with copies or a summary of , or allowing you to inspect, the requested information. We will require prior evidence of your identity.
    2. We will not provide you with access to your Personal Information if:
      • it would unreasonably impact on the privacy, life or health of another person;
      • the request for access is frivolous or vexatious;
      • the information related to existing or anticipated legal proceedings between us, and would not otherwise be discoverable;
      • it would be unlawful or denying access is required or authorised by law or an enforcement body.
    3. In the event we refuse you access to your Personal Information, we will provide reasons, if permitted.
    4. We may impose a charge where your request requires the compilation of information that has been archived or is significant in volume.
    5. We will process your request usually within 14 days. If your request is complex, more time may be needed in which case we will advise you of the extra time required.
  6. Correction of Personal Information
    1. We ask that you promptly notify us of any changes to the personal information that BBY New Zealand holds about you. This ensures that your personal information is up to date and enables us to keep you informed of the continuing circumstances of your account, your margin obligations and your trading activities.
    2. You may ask us at any time to correct personal information held by BBY New Zealand about you, and which you believe is inaccurate. Should we disagree with you as to the accuracy of the information, you may request that we attach a statement to that information noting that you consider it inaccurate or incomplete.
  7. Internet Privacy
    1. This website may contain links to other websites whose operator may or may not adhere to a privacy policy or be governed by the Information Privacy Principles.
    2. Our website uses cookies which allow us to identify your browser while you are using our site. Cookies do not identify you, they simply allow us to track usage patterns so that we can measure the level of interest in various areas of our site. All browsers allow you to be notified when you receive a cookie and elect to either accept it or not. Your internet service provider should be able to assist you to set your preferences.
    3. We collect statistical information about visitors to our websites such as the number of visitors, pages viewed, types of transactions conducted, time online and documents downloaded. This information is used to evaluate and improve the performance of our websites. Other than statistical information, we do not collect any information about you through our website unless you provide the information to us.
  8. Complaints
    1. If you wish to complain about any breach or potential breach of this privacy policy or the Information Privacy Principles, you should direct your complaint to our Privacy Officer or Compliance Manager. Your complaint will be dealt with in accordance with our internal dispute resolution program, details of which are available from our website or by contacting your adviser.  It is our intention to use our best endeavours to resolve any complaint to your satisfaction.  However, if you are unhappy with our response, you are entitled to contact the Office of the Privacy Commissioner who may investigate your complaint further.
  9. Receiving commercial electronic messages
    1. By accessing this website or by subscribing for further information or submitting an application to open an account with BBY New Zealand you consent to us sending commercial electronic messages (including messages about our products and services) to any electronic address which you provide or for which you are responsible. You warrant that you have authority, either as or on behalf of the electronic account holder, to provide this consent and agree that until you withdraw your consent by providing written notice to us or using an unsubscribe facility in the message, we may continue to send commercial electronic messages to those addresses.

BBY (NZ) Limited. All rights reserved (NZBN 9429034016398). Part of the BBY Group (BBY Limited. Participant of the Australian Stock Exchange Group. ABN 80 006 707 777 AFSL 238 095).