CONSENT TO PROCESS PERSONAL INFORMATION IN TERMS OF THE PROTECTION OF PERSONAL INFORMATION ACT (POPI)

This document is the undertaking of Econorisk (Pty) Limited to conform to the POPI act.  The Protection of Personal Information Act 4 of November 2013, more commonly known as the POPI Act, requires us to inform you, our valued Client, how we use and disclose personal information we obtain from you.

We are committed to protecting your privacy and will ensure that your personal information is used appropriately, transparently and according to applicable law.

1)  What information we collect:

We collect and process your personal information mainly to provide you with access to the services and products of the providers with whom we have contractual agreements in place and to help us improve our services to you. The type of information we collect will depend on the need for which it is collected and will be processed for that specific purpose only.

Where possible, we will inform you what information you are required to provide to us and what information is optional. With your consent, we may also supplement the information that you provide to us with information we receive from other providers in order to offer you a more consistent and personalised experience in your interactions with us.  When you elect to take up offerings from our contracted providers, they may also require additional information from you, and they will be subject to the same privacy regulations as we are subject to.

2)  How we use your information:

We will use your personal information only for the purposes for which it was collected and agreed to with you. This may include providing products or services to you and to carry out the transaction you requested:

• For underwriting purposes;
• For purposes of claims history;
• Assessing and processing claims;
• Conducting credit reference searches or verification;
• For credit assessment and credit management;
• Confirming and verifying your identity;
• For the detection and prevention of fraud, crime, money laundering or other malpractice;
• Conducting market or customer satisfaction research;
• For audit and record-keeping purposes;
• In connection with legal proceedings.
• Providing our services to you, to carry out the services you requested and to maintain and constantly improve our relationship with you;
• Providing you with communications in respect Econorisk (Pty) Limited and regulatory matters that may affect you;
• In connection and to comply with legal and regulatory requirements or when it is otherwise allowed by law;

3)  Disclosure of your information: 

 We may disclose your personal information to our providers whose services or products you elect to use.

• We have agreements in place to ensure that they comply with our privacy terms and conditions. We may also share your personal information with, and obtain information about you from third parties for the purposes listed in 2 above.
• We may also disclose your information where we have a duty or a right to disclose in terms of applicable legislation, the law or where it may be necessary to protect our rights.

4)  Safeguarding your information:

The POPI Act requires us to adequately protect all personal information that we hold and to avoid unauthorised access and use of this personal information. We will continuously review our security controls and processes to ensure that personal information is secure and safeguarded.  If we need to transfer your personal information to any other parties for processing or storage, we will ensure that any party to whom we pass on your personal information will treat your information with the same level of protection as required from us.

5)  Your rights to access and correction of your personal information:

You have the right to access your personal information held by us.  You also have the right to ask us to update, correct or delete (if and when allowed by law) your personal information. We will take all reasonable steps to confirm your identity before providing details of your personal information, or making changes to your personal information and profile.

6)  Record keeping

Financial Advisory and Intermediary Services Act, No 37 of 2002.  Section 18 of the Act requires a retention period of 5 years, except to the extent that it is exempted by the registrar for the below-mentioned documents:

• Known premature cancellations of transactions or financial products of the provider by clients;
• Complaints received together with an indication whether any such complaint has been resolved;
• The continued compliance with this Act and the reasons for such non-compliance; and
• the continued compliance by representatives with the requirements referred to in section 13(1) and (2).

The General Code of Conduct for Authorized Financial Services Provider and Representatives requires a retention period of 5 years for the below-mentioned documents:

• Proper procedures to record verbal and written communications relating to a financial service rendered to a client as are contemplated in the Act, this Code or any other Code drafted in terms of section 15 of the Act;
• Store and retrieve such records and any other material documentation relating to the client or
• financial services rendered to the client; and
• Keep such client records and documentation safe from destruction;
• All such records must be kept for a period after termination to the knowledge of the provider of the product concerned or in any other case after the rendering of the financial service concerned.

Financial Intelligence Centre Act, no 38 of 2001:  Section 22 and 23 of the Act require a retention period of 5 years for the documents and records of the activities mentioned below:

• Whenever an accountable transaction is concluded with a client, the institution must keep record of the identity of the client;
• If the client is acting on behalf of another person, the identity of the person on whose behalf the client is acting and the client’s authority to act on behalf of that other person;
• If another person is acting on behalf of the client, the identity of that person and that other person’s authority to act on behalf of the client;
• The manner in which the identity of the persons referred to above was established;
• The nature of that business relationship or transaction;
• In the case of a transaction, the amount involved and the parties to that transaction;
• All accounts that are involved in the transactions concluded by that accountable institution in the course of that business relationship and that single transaction;
• The name of the person who obtained the identity of the person transacting on behalf of the accountable institution;
• Any document or copy of a document obtained by the accountable institution.
• These documents may also be kept in electronic format.

7)  Our contact details:

You can contact us at the numbers or addresses listed below for your required information:

Telephone: 011 045 8555

Email info@econorisk.co.za

Website www.econorisk.co.za

8)  Changes to this Notice

Please note that we may amend this notice from time to time. Please check our website periodically to inform yourself of any changes.

CONSENT

The client (as data subject), by signing this document, hereby consents to the use of his/her personal information contained herein and confirms that:

• the information is supplied voluntarily, without undue influence from any party and not under any duress;
• the information which is supplied herewith is mandatory for the purposes of this agreement and that without such information, Econorisk (Pty) Limited will not enter into agreement with the client;
• the client acknowledges that he/she is aware thereof that he/she has the following rights with regard to such personal information which is hereby collected.

The client has the right to:

• access the information at any reasonable time for purposes of rectification thereof;
• object to the processing of the information in which case this agreement will terminate in accordance with the provisions contained herein;
• lodge a complaint to the Information Regulator.