VOLY LIMITED GDPR POLICY DECEMBER 2020

1. INTERPRETATION

1.1 DEFINITIONS:

Automated Decision-Making (ADM): when a decision is made which is based solely on Automated Processing (including profiling) which produces legal effects or significantly affects an individual. The GDPR prohibits Automated Decision-Making (unless certain conditions are met) but not Automated Processing.

Automated Processing: any form of automated processing of Personal Data consisting of the use of Personal Data to evaluate certain personal aspects relating to an individual, in particular to analyse or predict aspects concerning that individual's performance at work, economic situation, health, personal preferences, interests, reliability, behaviour, location or movements. Profiling is an example of Automated Processing.

Company name: Voly Limited of 5300 Lakeside, Cheadle, Cheshire, SK8 3GP, UK.

Company Personnel: all employees, workers, [contractors, agency workers, consultants,] directors, members and others.

Consent: agreement which must be freely given, specific, informed and be an unambiguous indication of the Data Subject's wishes by which they, by a statement or by a clear positive action, signify agreement to the Processing of Personal Data relating to them.

Controller: the person or organisation that determines when, why and how to process Personal Data. It is responsible for establishing practices and policies in line with the GDPR. We are the Controller of all Personal Data relating to our Company Personnel and Personal Data used in our business for our own commercial purposes.

Data Subject: a living, identified or identifiable individual about whom we hold Personal Data. Data Subjects may be nationals or residents of any country and may have legal rights regarding their Personal Data.

Data Privacy Impact Assessment (DPIA): tools and assessments used to identify and reduce risks of a data processing activity. DPIA can be carried out as part of Privacy by Design and should be conducted for all major system or business change programmes involving the Processing of Personal Data.

Data Protection Officer (DPO): the person required to be appointed in specific circumstances under the GDPR. Where a mandatory DPO has not been appointed, this term means a data protection manager or other voluntary appointment of a DPO or refers to the Company data privacy team with responsibility for data protection compliance.

Explicit Consent: consent which requires a very clear and specific statement (that is, not just action).

General Data Protection Regulation (GDPR): the General Data Protection Regulation ((EU) 2016/679). Personal Data is subject to the legal safeguards specified in the GDPR.

Personal Data: any information identifying a Data Subject or information relating to a Data Subject that we can identify (directly or indirectly) from that data alone or in combination with other identifiers we possess or can reasonably access. Personal Data includes Special Categories of Personal Data and Pseudonymised Personal Data but excludes anonymous data or data that has had the identity of an individual permanently removed. Personal data can be factual (for example, a name, email address, location or date of birth) or an opinion about that person's actions or behaviour. Personal Data specifically includes, but is not limited to, Names, phone numbers, email address, documents of identification, business interests, place of work, next of kin.

Personal Data Breach: any act or omission that compromises the security, confidentiality, integrity or availability of Personal Data or the physical, technical, administrative or organisational safeguards that we or our third-party service providers put in place to protect it. The loss, or unauthorised access, disclosure or acquisition, of Personal Data is a Personal Data Breach.

Privacy by Design: implementing appropriate technical and organisational measures in an effective manner to ensure compliance with the GDPR.

Privacy Notices (also referred to as Fair Processing Notices) or Privacy Policies: separate notices setting out information that may be provided to Data Subjects when the Company collects information about them. These notices may take the form of general privacy statements applicable to a specific group of individuals (for example, employee privacy notices or the website privacy policy) or they may be stand-alone, one-time privacy statements covering Processing related to a specific purpose.

Processing or Process: any activity that involves the use of Personal Data. It includes obtaining, recording or holding the data, or carrying out any operation or set of operations on the data including organising, amending, retrieving, using, disclosing, erasing or destroying it. Processing also includes transmitting or transferring Personal Data to third parties.

Product Partners: Any business whom the Company has chosen to enter into an agreement with, to provide clients with additional products and services in conjunction with the Company’s primary offering. Current Product Partners detailed in Appendix 1.

Pseudonymisation or Pseudonymised: replacing information that directly or indirectly identifies an individual with one or more artificial identifiers or pseudonyms so that the person, to whom the data relates, cannot be identified without the use of additional information which is meant to be kept separately and secure.

Special Categories of Personal Data: information revealing racial or ethnic origin, political opinions, religious or similar beliefs, trade union membership, physical or mental health conditions, sexual life, sexual orientation, biometric or genetic data.

2. INTRODUCTION

This Privacy Standard sets out how Voly Limited ("we", "our", "us", "the Company") handle the Personal Data of our customers, suppliers, employees, workers and other third parties.

This Privacy Standard applies to all Personal Data we Process regardless of the media on which that data is stored or whether it relates to past or present employees, workers, customers, clients or supplier contacts, shareholders, website users or any other Data Subject.

Where employees have a specific responsibility in connection with Processing such as capturing Consent, reporting a Personal Data Breach, conducting a DPIA as referenced in this Privacy Standard or otherwise then they must comply with the Related Policies and Privacy Guidelines. 

3. SCOPE

We recognise that the correct and lawful treatment of Personal Data will maintain confidence in the organisation and will provide for successful business operations. Protecting the confidentiality and integrity of Personal Data is a critical responsibility that we take seriously at all times. The Company is exposed to potential fines of up to EUR20 million or 4% of total worldwide annual turnover, whichever is higher and depending on the breach, for failure to comply with the provisions of the GDPR.

All Directors and managers of individual business areas are responsible for ensuring all Company Personnel comply with this Privacy Standard and need to implement appropriate practices, processes, controls and training to ensure that compliance.

The DPO is responsible for overseeing this Privacy Standard and, as applicable, developing Related Policies and Privacy Guidelines. That post is held by Kirstie Slingsby, Head of Operations.

4. PERSONAL DATA PROTECTION PRINCIPLES

We adhere to the principles relating to Processing of Personal Data set out in the GDPR which require Personal Data to be:

(a) Processed lawfully, fairly and in a transparent manner (Lawfulness, Fairness and Transparency);

(b) collected only for specified, explicit and legitimate purposes (Purpose Limitation);

(c) adequate, relevant and limited to what is necessary in relation to the purposes for which it is Processed (Data Minimisation);

(d) accurate and where necessary kept up to date (Accuracy);

(e) not kept in a form which permits identification of Data Subjects for longer than is necessary for the purposes for which the data is Processed (Storage Limitation);

(f) Processed in a manner that ensures its security using appropriate technical and organisational measures to protect against unauthorised or unlawful Processing and against accidental loss, destruction or damage (Security, Integrity and Confidentiality);

(g) not transferred to another country without appropriate safeguards being in place (Transfer Limitation); and

(h) made available to Data Subjects and allow Data Subjects to exercise certain rights in relation to their Personal Data (Data Subject's Rights and Requests).

We are responsible for and must be able to demonstrate compliance with the data protection principles listed above (Accountability).

5. LAWFULNESS, FAIRNESS, TRANSPARENCY

5.1 LAWFULNESS AND FAIRNESS

Personal data will be Processed lawfully, fairly and in a transparent manner in relation to the Data Subject.

We will only collect, Process and share Personal Data fairly and lawfully and for specified purposes. The GDPR restricts our actions regarding Personal Data to specified lawful purposes. These restrictions are not intended to prevent Processing but ensure that we Process Personal Data fairly and without adversely affecting the Data Subject.

The GDPR allows Processing for specific purposes, some of which are set out below:

(a) the Data Subject has given his or her Consent;

(b) the Processing is necessary for the performance of a contract with the Data Subject;

(c) to meet our, or our Product Partners legal compliance obligations;

(d) to protect the Data Subject's vital interests;

(e) to pursue our legitimate interests for purposes where they are not overridden because the Processing prejudices the interests or fundamental rights and freedoms of Data Subjects. The purposes for which we process Personal Data for legitimate interests need to be set out in applicable Privacy Notices; or

6. CONSENT

A Controller will only process Personal Data on the basis of one or more of the lawful bases set out in the GDPR, which include Consent.

A Data Subject consents to Processing of their Personal Data if they indicate agreement clearly either by a statement or positive action to the Processing. If Consent is given in a document which deals with other matters, then the Consent will be kept separate from those other matters.

Data Subjects can withdraw Consent to Processing at any time and withdrawal will be promptly honoured. Consent may need to be refreshed if we are required or intend to Process Personal Data for a different and incompatible purpose which was not disclosed when the Data Subject first consented.

We will evidence Consent captured and keep records of all Consents in accordance with Related Policies and Privacy Guidelines so that the Company can demonstrate compliance with Consent requirements.

7. TRANSPARENCY (NOTIFYING DATA SUBJECTS)

When Personal Data is collected indirectly (for example, from a third party or publicly available source), we will provide the Data Subject with all the information required by the GDPR as soon as possible after collecting or receiving the data. We will also check that the Personal Data was collected by the third party in accordance with the GDPR and on a basis which contemplates our proposed Processing of that Personal Data.

8. PURPOSE LIMITATION

Personal Data will be collected only for specified, explicit and legitimate purposes. It will not be further Processed in any manner incompatible with those purposes.

We will not use Personal Data for new, different or incompatible purposes from that disclosed when it was first obtained unless we have informed the Data Subject of the new purposes and they have Consented where necessary.

9. DATA MINIMISATION

Personal Data will be adequate, relevant and limited to what is necessary in relation to the purposes for which it is Processed.

When Personal Data is no longer needed for specified purposes, it is deleted or anonymised in accordance with the Company's data retention guidelines.

10. ACCURACY

Personal Data must be accurate and, where necessary, kept up to date. It will be corrected or deleted without delay when inaccurate.

We will ensure that the Personal Data we use and hold is accurate, complete, kept up to date and relevant to the purpose for which we collected it. We will take all reasonable steps to destroy or amend inaccurate or out-of-date Personal Data.

11. STORAGE LIMITATION

Personal Data will not be kept in an identifiable form for longer than is necessary for the purposes for which the data is processed.

The Company will maintain retention policies and procedures to ensure Personal Data is deleted after a reasonable time for the purposes for which it was being held, unless a law requires that data to be kept for a minimum time.

We will not keep Personal Data in a form which permits the identification of the Data Subject for longer than needed for the legitimate business purpose or purposes for which we originally collected it including for the purpose of satisfying any legal, accounting or reporting requirements.

We will take all reasonable steps to destroy or erase from our systems all Personal Data that we no longer require in accordance with all the Company's applicable records retention schedules and policies. This includes requiring third parties to delete that data where applicable.

12. SECURITY INTEGRITY AND CONFIDENTIALITY

12.1 PROTECTING PERSONAL DATA

Personal Data will be secured by appropriate technical and organisational measures against unauthorised or unlawful Processing, and against accidental loss, destruction or damage.

We will implement and maintain safeguards appropriate to our size, scope and business, our available resources, the amount of Personal Data that we own or maintain on behalf of others and identified risks (including use of encryption where applicable). We will regularly evaluate and test the effectiveness of those safeguards to ensure security of our Processing of Personal Data. We will implement reasonable and appropriate security measures against unlawful or unauthorised Processing of Personal Data and against the accidental loss of, or damage to, Personal Data.

We will only transfer Personal Data to third-party service providers and Product Partners who agree to comply with the required policies and procedures and who agree to put adequate measures in place, as requested.

We will maintain data security by protecting the confidentiality, integrity and availability of the Personal Data, defined as follows:

(a) Confidentiality means that only people who have a need to know and are authorised to use the Personal Data can access it;

(b) Integrity means that Personal Data is accurate and suitable for the purpose for which it is processed; and

(c) Availability means that authorised users are able to access the Personal Data when they need it for authorised purposes.

13. REPORTING A PERSONAL DATA BREACH

The GDPR requires Controllers to notify any Personal Data Breach to the applicable regulator and, in certain instances, the Data Subject.

We have put in place procedures to deal with any suspected Personal Data Breach and will notify Data Subjects or any applicable regulator where we are legally required to do so.

14. DATA SUBJECT'S RIGHTS AND REQUESTS

Data Subjects have rights when it comes to how we handle their Personal Data. These include rights to:

(a) withdraw Consent to Processing at any time;

(b) receive certain information about the Controller or Product Partners Processing activities;

(c) request access to their Personal Data that we hold;

(d) prevent our use of their Personal Data for direct marketing purposes;

(e) ask us to erase Personal Data if it is no longer necessary in relation to the purposes for which it was collected or Processed or to rectify inaccurate data or to complete incomplete data;

(f) restrict Processing in specific circumstances;

(g) challenge Processing which has been justified on the basis of our legitimate interests or in the public interest;

(h) request a copy of an agreement under which Personal Data is transferred outside of the EEA;

(i) object to decisions based solely on Automated Processing, including profiling (ADM);

(j) prevent Processing that is likely to cause damage or distress to the Data Subject or anyone else;

(k) be notified of a Personal Data Breach which is likely to result in high risk to their rights and freedoms;

(l) make a complaint to the supervisory authority;

(m) in limited circumstances, receive or ask for their Personal Data to be transferred to a third party in a structured, commonly used and machine-readable format; and

15. ACCOUNTABILITY

The Company have adequate resources and controls in place to ensure and to document GDPR compliance including:

(a) appointing a suitably qualified DPO (where necessary) and an executive accountable for data privacy;

(b) integrating data protection into internal documents including this Privacy Standard, Related Policies, Privacy Guidelines or Privacy Notices;

(c) regularly training Company Personnel on the GDPR, this Privacy Standard, Related Policies and Privacy Guidelines and data protection matters including, for example, Data Subject's rights, Consent, legal basis, DPIA and Personal Data Breaches.

(d) regularly testing the privacy measures implemented and conducting periodic reviews and audits to assess compliance, including using results of testing to demonstrate compliance improvement effort.

16. DIRECT MARKETING

A Data Subject's prior consent is required for electronic direct marketing (for example, by email, text or automated calls). The limited exception for existing customers known as "soft opt-in" allows organisations to send marketing texts or emails if they have obtained contact details in the course of a sale to that person, they are marketing similar products or services, and they gave the person an opportunity to opt out of marketing when first collecting the details and in every subsequent message.

The right to object to direct marketing will be explicitly offered to the Data Subject in an intelligible manner so that it is clearly distinguishable from other information.

A Data Subject's objection to direct marketing will be promptly honoured. If a customer opts out at any time, their details will be suppressed as soon as possible.

17. SHARING PERSONAL DATA

We will not share Personal Data with third parties unless certain safeguards and contractual arrangements have been put in place.

We will only share the Personal Data we hold with third parties, such as our service providers and Product Partners, if:

(a) they have a need to know the information for the purposes of providing the contracted services;

(b) sharing the Personal Data complies with the Privacy Notice provided to the Data Subject and, if required, the Data Subject's Consent has been obtained;

(c) the third party has agreed to comply with the required data security standards, policies and procedures and put adequate security measures in place;

(d) a fully executed written contract that contains GDPR-approved third party clauses has been obtained.

APPENDIX 1 – PRODUCT PARTNERS

LIST OF APPROVED PRODUCT PARTNERS AS AT 01ST DECEMBER 2020

B4B Payments - PO Box 76256, London, SW1P 9NU USA - B4B Payments, 275 Grove Street, Suite 2-400 Newton, MA 02466

B4B Payments is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 930619). UAB B4B Payments Europe is authorised by the Bank of Lithuania as an Electronic Money Institution (Licence No: 76) under the Law on Electronic Money and Electronic Money Institutions 2011

In Europe, Cards are issued by B4B Payments pursuant to license by Mastercard International Inc. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

ALPHA FX - Brunel Building, 2 Canalside Walk, London, England, W2 1DG

Alpha FX Group plc is listed on the London Stock Exchange and trades through its wholly owned subsidiary Alpha FX Limited (company registration number: 05108142).

Alpha FX Limited is authorised and regulated by the Financial Conduct Authority to provide regulated products and services (FCA Registration Number: 770377) and authorised by the Financial Conduct Authority as an Authorised Electronic Money Institution (Registration Number: 900849).  It is also registered with FINTRAC in Canada (Registration number: M18265420)

AFEX – ASOCIATED FOREIGN EXCHANGE - 4th Floor, 40 Strand, London WC2N 5RW

Services in the UK are provided by Associated Foreign Exchange Limited (which does business under the trade name of AFEX) or AFEX Markets Plc (collectively referred to as ‘AFEX’).
Associated Foreign Exchange Limited (registered in England and Wales, Company Number 4848033, Registered Office Address: 4th Floor, 40 Strand, London WC2N 5RW) is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 (Register Reference: 502593) for the provision of payment services and is registered as an MSB with HM Revenue & Customs (Registered No: 12159000).

AFEX Markets Plc is authorised and regulated by the Financial Conduct Authority to provide advice on, and execute trades in FX Options (firm reference number is 526034). Registered in England and Wales. Registered Office: 40 Strand, London, WC2N 5RW (registered no. 07061516).