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Marcuard Family Office – Data Privacy Notice

Marcuard Family Office (Marcuard) is a family office based in Switzerland that provides various services to its clients. Marcuard has a subsidiary, MFO Capital Ltd, headquartered in the British Virgin Islands (BVI), which in turn has a subsidiary, also incorporated in the BVI, MFO IDF I GP Ltd. These “Marcuard companies” have their headquarters in countries outside the European Economic Area and therefore are not subject to the European data protection standards spelled out in the General Data Protection Regulation (GDPR). Nevertheless, the protection of personal data is very important to Marcuard. Therefore, we manage all personal data based on the statutory provisions of the EU’s GDPR.

General information

– In this Data Privacy Notice, we explain how we collect, manage, handle, protect and process personal, confidential data. We describe:
– which personal data we use and for what purposes when our services are used
– how we use this data
– whom we might pass any personal data to
– individual’s rights in connection with the use of their personal data.

What is the purpose of processing personal data and what is the legal basis for doing so?

For various reasons, Marcuard collects, stores and processes personal data. It does so always in accordance with the provisions of the European General Data Protection Regulation, for example:

– in the context of performing contractual obligations (GDPR Article 6.1b) or the fulfillment of a contract. The purpose of the data processing here depends primarily on the product or service in question.
– in compliance with statutory requirements according to GDPR Art. 6.1c, for example, FATCA, AIA/CRS, prevention of money laundering and corruption, or in the public interest (GDPR Art. 6.1e).
– on the basis of an individual’s consent (GDPR Art. 6.1a), for example, if an individual has consented to use her/his personal data for the purpose of delivering customized marketing materials. Individuals have the right to revoke con- sent at any time.
– This also applies to declarations of consent that have been given prior to 25 May 2018, when the EU’s GDPR came into force.
– for the protection of the legitimate interests of Marcuard (GDPR Art. 6.1f) or those of third parties, unless an individual’s interests, fundamental rights or freedoms, which requires the protection of personal data, prevail.

What kinds of data do we collect?

We collect, store, use and process the following types of personal data, noting that this list is not exhaustive:

– personal information, for example, name, address and other contact details, date and place of birth, and nationality.
– identification data, for example, details of a client’s ID or passport.
– authentication information, for example, a signature sample.
– financial information such as credit worthiness, sources and volume of assets, spending behavior.
– documentation, for example, minutes of meetings.
– general information needed by Marcuard to comply with its legal, regulatory and contractual obligations.
– notes on individual’s personal interests and hobbies.
– personal information about a client’s family.

Based on your explicit consent, we also process special categories of personal data such as information on political opinions or affiliations, religious or philosophical beliefs, genetic or biometric data and data concerning your health.

What sources do we use to collect personal information?

We receive and collect the above types of personal information either:

– directly from individuals themselves, for example, when contacting us as customers or potential customers.
– through publicly available data sources, such as sanctions lists, the Swiss Secretariat of Economic Affairs (SECO), the US Office of Foreign Assets Control (OFAC), or the Thomson-Reuters Worldcheck database.
– or from other third-party sources – for example, credit information that is law-fully transmitted to us.

Who receives your data?

In principle, Marcuard is bound by the terms of the Confidentiality Agreement made with its clients. As a general rule, personal data will only be shared with third parties, including subsidiaries of Marcuard, if there is a legal or regulatory need to do so, or if the individual has given us her/his specific consent.

The transfer of personal data to a third country – that is, outside the EEA – will only take place if (i) this is necessary to be able to execute customer orders – for example, payments, or to effect transactions, or (ii) it is required by law or regulations – for example, reporting obligations such as FATCA or AIA/CRS, or (iii) the individual has given us her/his consent.

How long is personal data stored?

We process and store personal data for as long as necessary, according to the contractual and legal purposes for which the data was collected. In some cases, we store personal data over extended periods of time, for example, if there are legal, regulatory, tax, accounting or mandatory technical requirements. Retention periods may thus be five, ten or more years.

What rights do people have related to their data?

Every individual has various rights with respect to her/his personal data:

– individuals have the right to be informed about their personal data Marcuard has collected and stored (GDPR Art. 15).
– if necessary, individuals can request correction of incorrect personal data (GDPR Art. 16).
– individuals have the right to request erasure of their data under GDPR Art. 17.
– individuals have the right to restrict the processing of their data under GDPR Art. 18.
– provided that the data processing has been undertaken based on her/his explicit consent to Marcuard, each individual has the right to revoke that consent – for example, a subscription to a newsletter, according to GDPR Art. 21, right of revocation.
– there is also a “case-by-case” right of revocation, with individuals having the right to object at any time to the processing of their data for reasons of public interest (GDPR Art. 6.1e) or for the protection of legitimate interests (GDPR Art. 6.1f). This also applies to profiling carried out under GDPR Art. 4.4. However, Marcuard may be entitled to continue pro- cessing a person’s data if there are compelling legitimate grounds that out- weigh the individuals’s interests, rights and freedoms; or to continue the processing for the purpose of asserting, exercising or defending specific legal claims.
– in individual cases, personal data will be processed for the purpose of direct advertising. Individuals can object to this at any time. This also ap- plies to profiling insofar as it is connected with direct mailings. If an indi- vidual objects, her/his personal data will not be processed for direct mar- keting purposes.
– individuals have the right to obtain their personal data in a structured, commonly used, machine-readable format (right to data transferability, GDPR Art. 20).
– if necessary, individuals also have the right to file a complaint with their local supervisory authority (right to a complaint, GDPR Art. 77).

We reiterate that individuals have the right to revoke any consent given to us at any time. This also applies to declarations of consent made prior to 25 May 2018.

Do we perform profiling?

Generally, we do not implement automated decision-making. If we do perform profiling activities, we usually do so on the basis of relevant legal and regulatory requirements – for example, in the fight against money laundering, terrorist financing and property-related crimes, when we are obliged to do so for legal reasons, for example, to evaluate payment transactions.

Publications

Via our website individuals can receive one or more of our publications, sent to them at the e-mail address of their choice. For this service, we need individuals to agree that we store their e-mail address.
If an individual wishes that her/his e-mail address should no longer be stored with us, this wish should be communicated to info@mfo.ch.

Cookies

Cookies are small data sets that are saved when users visit our website. We also collect personal data (e-mail addresses, for example) that you submit to us through our website – for example, for newsletter subscriptions. We use this data for statistical purposes, for technical evaluations, to determine the frequency of access users make to our website, and to gain insights into how we can improve the usability and functionality of our website.
Website visitors who do not agree with our use of cookies must configure their browsers so that cookies are no longer stored on the device they are using. Please note that blocking cookies may mean that users can no longer use all the functions available on our website.

Analysis tools

In order to be able to analyze the information made available by cookies about how visitors use our website, we use so-called analysis tools.
This relevant data could be transferred to third parties for analytical purposes, as described in the section on Cookies.

Applicable law and jurisdiction

These data protection guidelines are subject exclusively to Swiss law.
All disputes, disagreements or claims arising out of or in connection with this Data Privacy Notice, including their validity, non-validity, infringement or dissolution, shall be governed by a mediation procedure in accordance with the Swiss Mediation Code for Economic Conflicts of the Swiss Chambers’ Arbitration Institution. The current version of the Mediation Regulations applies at the time of delivery of the notification of initiation. The seat of the mediation procedure is Zurich, Switzerland. The language of the mediation procedure is German.

If the disputes, disagreements or claims cannot be fully resolved through the mediation process within 60 days of the confirmation or appointment of the mediator(s), they shall be resolved by arbitration in accordance with the International Rules of Arbitration of the Swiss Chambers’ Arbitration Institution. The version of the Rules of Arbitration in force at the time of delivery of the notice of initiation shall apply. The arbitration tribunal consists of one or three arbitrators. The seat of the arbitration tribunal is Zurich, Switzerland. The language of the arbitration is German. Arbitration shall be conducted in accordance with the provisions of an accelerated procedure.

Who can I contact for questions about data processing and privacy?

Your first contact for all topics related to this Data Privacy Notice is:

Marcuard Family Office Ltd.
Theaterstrasse 12
P.O. Box
8024 Zurich
Switzerland

Our data protection officer can be reached at the following email address: p.stocker@mfo.ch.

Changes

Please note that Marcuard may change or amend this Data Privacy Notice at any time.

May 25, 2018

© 2018 Marcuard Family Office Ltd.

Welcome, Marcuard Family Office is an independent Multi-Client Family Office in Switzerland. Established in 1998, it is specially designed in order to provide families that have complex ownership and asset structures with comprehensive advice which goes beyond traditional asset management. We greatly value the trust of selected family relationships with roots in Switzerland and all over the world. For them we provide a broad range of family office services and invest on their behalf in the worldwide financial markets.