To: clients or potential clients of Springs Capital, or investors or potential investors in one or more funds managed or advised by Springs Capital (each, a “Fund”)
Springs Capital may collect and use certain personal data. To the extent your details are provided to Springs Capital as a result of your existing or proposed investment in a Fund or receipt of investment management or advisory services offered by Springs Capital, Springs Capital, acting as a data controller or data user under relevant data protection laws such as, in respect of EU data subjects, the European Union’s General Data Protection Regulation, Hong Kong’s Personal Data (Privacy) Ordinance and/or Singapore’s Personal Data Protection Act 2012 (collectively, the “Data Protection Laws”), may itself (or through third parties acting in their capacity as service providers and/or their respective affiliates (collectively, the “Service Providers”)) process your personal data or that of your directors, officers, employees and/or beneficial owners (hereafter referred to as “your personal data”). The Service Providers, to the extent any of them processes your personal data, generally act as data processors (if applicable) under applicable Data Protection Laws, but may also act as a data controller/user of your personal data in connection with the performance of their own legal and contractual obligations or outside the instructions of Springs Capital.
Please ensure that you provide a copy of this notice to any third parties whose personal data you provide to Springs Capital or any Service Provider. This notice may be updated at any time and Springs Capital will provide you the updated version in writing.
Types of Personal Data
The categories of personal data Springs Capital or Service Providers may collect (including through Springs Capital’s website (the “Website”) or its mobile application (the “App”)) include names, residential or business addresses, email or other contact details, signature, nationality, tax identification or ID number, date of birth, place of birth, photographs, copies of identification documents, bank account details, information about assets or net worth, credit history, information on investment activities, or other personal information, such as certain special categories of personal data (including, where relevant, information on political affiliations, ethnic origin, or criminal convictions), as specified under the applicable Data Protection Laws, that may be contained in the relevant materials and documents provided to Springs Capital, or obtained through background searches.
Collection of Personal Data
Your personal data may be collected through: (i) information provided directly to Springs Capital or Service Providers by you, or another person on your behalf; or (ii) information that Springs Capital or Service Providers obtain in relation to any transactions between you and Springs Capital or any Fund.
Springs Capital or Service Providers also may receive your personal data from third parties or other sources, such as their affiliates or service providers, publicly accessible databases or registers, tax authorities, governmental agencies and supervisory authorities, credit agencies, fraud prevention and detection agencies, or other publicly accessible sources, such as the Internet
Device Access, Permission and Cookies
When using the Website or the App, Springs Capital may also require access to storage permission and mobile device permission. Failure to provide such information or authorize such permissions may result in Springs Capital being unable to provide you with the services or information requested.
You may choose facial or fingerprint recognition as the login method of the App. In this case, Springs Capital may require access to the results of facial or fingerprint recognition from your mobile device. Springs Capital will not obtain access to, collect, store, process, transfer or disclose your biometric information, such as your facial or fingerprint data.
"Cookies" are small files placed on the hard drive of your device, which may track and record information of your activities on the Website or the App (including your preference and behaviour, navigation on the Website, login identity, etc.). Cookies and similar technology help Springs Capital to provide customized services and information.
If you prefer not to accept cookies from Springs Capital, you may set your browser accordingly. If you choose to disable cookies in your browser, you may not be able to access all pages or use certain features on the Website or the App.
Purposes of Processing and Legal Basis for Processing
| Your personal data may be processed by Springs Capital or the Service Providers (or any of their affiliates, agents, directors, officers, employees, delegates or sub-contractors) for the following purposes: |
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Managing and administering your service relationship with Springs Capital, including assessing and processing you as a client or investor in a Fund, issuing and redeeming shares/interests, commencing the relationship, receiving payments from and making payments to you, communicating with you about your holdings and account-related activities on an on-going basis; To update and maintain records and provide NAV and other reporting; To manage and maintain our relationships with you and for ongoing customer service; To enforce or defend the rights of Springs Capital, either by itself or through third parties to whom it delegates such responsibilities; To comply with any applicable legal, tax or regulatory obligations on Springs Capital or the Service Providers, including those deriving from anti-money laundering and counter-terrorism legislation; This use of your data is necessary for performance of your contract with us. |
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In order to carry out know-your-clients, anti-money laundering (“AML”) and counter-terrorist financing checks and related actions including sharing data with the police, law enforcement, tax authorities or other governmental, regulatory and fraud prevention agencies where we have a legal obligation, including screening transactions, reporting suspicious activity and complying with legal or regulatory requests and orders; To report tax related information to tax authorities such as under any automatic exchange of tax information regime; To investigate and resolve complaints and manage contentious regulatory matters, investigations and litigation; To monitor electronic communications for investigation and fraud prevention purposes, crime detection, prevention and investigation. This use of your data is necessary in order for us to comply with any legal or regulatory obligations. |
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To monitor, maintain and improve the processes, information and data, technology and communications solutions, risk management and services used by Springs Capital to provide services to you with respect to your portfolio; To perform general, financial and regulatory accounting, audit and reporting, if applicable; To monitor and record/retain calls, emails and other correspondence for quality, business analysis, training and related purposes in order to pursue the legitimate interests of Springs Capital to improve its service delivery; To protect our legal rights and interests including screening transactions for fraud prevention and AML purposes; To understand your needs and interests, and to communicate with you or to provide you with information about Springs Capital and its products (including the Funds) and services; To facilitate Springs Capital’s business activities relating to its products (including the Funds) and services, such as investor relations, discussions with the service providers and counterparties of the products, and business strategy, development and marketing; To administer and monitor IT systems to ensure data security and to prevent any potential disruptions or cyberattacks; and general business administration, including communicating with clients, investors, service providers and counterparties, accounting, tax and audit services, risk monitoring, and improving products, services and the delivery of information by Springs Capital. This use of your data is necessary for our legitimate business interest in managing our business including legal, regulatory, personnel, administrative, IT, business development and marketing, management and for the prevention and detection of crime or other breaches of laws and regulations provided our interests are not overridden by your interests. |
Recipients of Data and International Transfer of Data
Springs Capital and the Service Providers may disclose your personal data as follows:
The disclosure of personal data to the third parties set out above may involve the transfer of data to jurisdictions outside Hong Kong, Singapore or the European Economic Area (“EEA” and, together with Hong Kong or Singapore, as applicable, the “Relevant Jurisdictions”). Such jurisdictions may not have the same data protection laws as your jurisdiction of domicile or the Relevant Jurisdictions, and Springs Capital either has authorised or may authorise any Service Provider as its agent to ensure, among other things, the transfer of data by the Service Provider outside any of the Relevant Jurisdictions is done in a manner consistent with legal requirements. For example, in relation to data being transferred outside the EEA, the jurisdiction to which the personal data is transferred may be approved by the European Commission, the recipient may have agreed to model contractual clauses approved by the European Commission that oblige them to protect the personal data, or the recipient may be located in the United States and be a certified member of the EU-US Privacy Shield scheme.
Retention period
How long your personal data will be held for will vary. The retention period will be determined by various criteria, including the purposes for which Springs Capital and/or the Service Providers are using it (as it will need to be kept for as long as is necessary for any of those purposes) and legal obligations (as laws or regulations may set a minimum period for which Springs Capital and/or the Service Providers have to keep your personal data).
Consequences of not Providing Required Personal Data
Where Springs Capital or the Service Providers requires your personal data necessary for shares or interests in a Fund to be issued or redeemed, or a business relationship with you be established, or to comply with AML or other legal or regulatory requirements, failure to provide this information means Springs Capital may not be able to accept you as a client or an investor in the Fund and/or may be unable to process, or otherwise release, any withdrawal of your investment from the portfolio to which Springs Capital provides services, or from the Fund. This may result in Springs Capital or the Fund either terminating its existing relationship or ceasing the commencement of a relationship with you. We will tell you when we ask for your information whether it is a statutory or contractual requirement to give us the information and the consequences of not providing the information.
Data Subject Rights
You have various rights in relation to your personal data to the extent any or all of the Data Protection Laws apply to the retention, processing and use of your personal data by Springs Capital and/or the Service Providers, such as the right to request access to your personal data, correct any mistakes on our records, erase or restrict records where they are no longer required, object to use of personal data based on legitimate business interests, and/or ask not to be subject to automated decision making if the decision produces significant effects on you. A copy of your records will be provided upon request made in writing to the Manager at the address specified below. We may charge a modest administration fee to cover the costs of complying with such request where it is reasonable for us to do so. Please note that there may be circumstances where Springs Capital or the Services Providers are legally required or entitled to continue retaining, processing or using your personal data despite your request to the contrary.
You also have the right to lodge a complaint with the relevant data protection regulator (details of which are available upon request) if you think that any of your rights have been infringed by Springs Capital.
We will respond to your request in writing, or orally if requested, as soon as practicable and in any event not more than one month after receipt of your request, any applicable fees and further information we have requested to fulfil your request (or such other period as may be prescribed by regulations). We may request proof of identification to verify your request. For more details in relation to your rights, including how to exercise them, please contact us at the details below.
How to Contact Us
If you have any questions about the use by Springs Capital, the Funds or Service Providers of your personal data as referenced in this notice, please contact:
(If you are a client or investor of Springs Capital (Hong Kong) Limited):
Chief Compliance Officer
compliance@springs-capital.com
Room 4209, Gloucester Tower, The Landmark
15 Queen's Road Central
Hong Kong
(If you are a client or investor of Springs Capital Management (Singapore) Pte. Ltd.):
Chief Compliance Officer
compliance.sg@springs-capital.com
6 Battery Road, #39-02
Singapore, 049909