The collection of personal information about individuals by organisations is governed by the Privacy Act 1988 ('the Privacy Act') which contains a national scheme for the collection, use, correction, disclosure and transfer of personal information by organisations in the private sector.
Nikko Asset Management Australia’s mission is to is to assist our clients in building their wealth. We believe that an active approach to asset management adds value for investors based on their investment objectives on a risk-adjusted basis over time.
Established in 1989 under the Tyndall AM name, Nikko Asset Management Australia Limited (Nikko AM Australia) is owned by Tokyo-based Nikko Asset Management Co., Ltd., one of Asia’s largest asset managers, providing high-conviction, active fund management across a range of Equity, Fixed Income and Multi-Asset strategies. Established in 1959, Nikko Asset Management has offices across 11 countries and enjoys one of the largest distributor networks in the Asian region, serving both retail and institutional clients.
What is "personal information"?
Personal information is information or an opinion about you from which you can reasonably be identified.
What type of personal information do we ask individuals for?
You can expect to be asked for the following types of personal information:
- your name, address and contact details (including phone numbers and email address/es);
- date of birth;
- Place of birth, nationality, citizenship and residency;
- information about your use of our product or service.
Depending on the product or service we provide to you, you can also expect to be asked for some of the following types of personal information:
- tax file number, taxpayer identification number or your finances;
- your bank account details;
- details of other people (your agents) who we can contact, or who can contact us about your investments.
The specific type of personal information which we will collect will depend on the type of product or service you choose from us. The details of exactly what personal information we need will be found on:
- the written application, redemption, switch, transfer and other forms we ask you to complete;
- the questions we may ask you on the telephone; or
- our web site via the internet.
We are also required by Australian laws to collect information from you to confirm your identification and the source of your funds and wealth. For example, this may be via collecting and storing copies of your Driver’s Licence or Permit, Passport, utility bills and other government issued papers.
We will not collect any personal information about you except where you have knowingly provided that information to us or we believe you have authorised a third party to provide that information to us.
Collecting information from your visits to Nikko AM Australia’s website
We may collect information based on how you use Nikko AM Australia’s website as our website uses ccookies. Cookies are very small text files that are stored on your computer when you visit some websites. We may also use other data collection methods, such as tags, to collect information on website activity such as the number of visitors, the number of pages viewed and the internet advertisements which bring visitors to our site. This information is collected to analyse and improve our website, our marketing campaigns and to record statistics on web traffic. No attempt is made by us to use this information to personally identify you.
If you access your account information online through one of the secure areas of the Nikko AM Australia website, we will collect information your visit using cookies to track your use of our website to allow you to effectively access your account information. This information is collected for security purposes and to protect the integrity of your account details.
You can disable and delete any cookies stored on your computer.
How do we store your personal information?
We store your personal information in a variety of ways. These may include:
- in computer systems or databases;
- in hard copy or paper files; and
- in telephone recordings.
In addition, we may engage third party service providers to provide services to us relating to your investment, such as custodial, registry, mail houses and administration services. These providers will also store as much of your personal information as necessary in order for them to provide their service to you and/or us.
For what purposes do we need your personal information?
The collection of your personal information is essential to enable us to conduct our business of offering and providing our range of financial products and services.
We generally collect your personal information for the purposes of:
- identifying you when you are doing business with us;
- protecting your personal information from unauthorised access;
- setting up, administering and managing our products and services;
- providing reports to you on our products or service;
- understanding your needs and improving our financial products and services via research, surveys and questionnaires.
We are required to collect your personal information to satisfy our legal obligations, even when you may not be sure why it is relevant. Wherever there is a legal requirement for us to ask for information about you, we will inform you to let you know of the obligation and the consequences of not giving us the requested information. Examples include under the Anti-Money Laundering and Counter Terrorism Financing Act (Cth) and the Corporations Act (Cth) in Australia or overseas legislation such as the US Foreign Account Tax Compliance Act, Common Reporting Standards or similar legislation currently being developed to facilitate the automatic exchange of information with other Governments around the world.
How do we collect your personal information?
Where it is reasonable and practical, we collect your personal information directly from you.
You give us your personal information in a number of ways such as:
- completing an application form
- signing up to newsletters or other updates via our website or at events, seminars etc.
- requesting a product or service by way of a telephone interaction or over the Internet.
We may also collect personal information at other times during the course of our relationship with you, for example when you advise us of a change in contact details.
We may not be able to always collect your personal information from you directly. Sometimes we collect your personal information from other sources. Examples of where we may receive personal information about you from another source and why this may happen are:
- your agent, where you have appointed an agent to act on your behalf in dealing with us, such as a broker, legal adviser or other representative such as a friend or family member;
- publicly available sources of information such as telephone directories;
- government agencies including the Australian Securities and Investments Commission, the Department of Foreign Affairs and Trade, Australian Federal Police and the Australian Transaction Reports and Analysis Centre;
- where required or authorised under our relationships with our joint venture companies;
- market research organisations for the purpose of product development, customer research or marketing.
What if we receive unsolicited personal information about you?
If for any reason we were to receive unsolicited personal information about you, steps will be made to either destroy or de-identify this information in accordance with Australian Privacy Principle 4.
Are there any additional requirements we comply with when we contact you or need to obtain consent?
There are a number of other legislative regimes that influence how we deal with your personal information and other information that we collect from you.
If we send you electronic commercial messages via e-mail or SMS, we may infer your consent to being contacted in this manner, where you e-mail or SMS us your electronic address and you require or ask for a response using that same medium, or, when you raise no objection to our advised, intended communication with you in this manner. This type of communication is covered under the Spam Act and unsolicited electronic messages legislative regime in Australia.
In Australia, if we telephone you, we have to comply with anti-hawking requirements under the Corporations Act 2001 (Cth) and the Do Not Call Register Act 2006 (Cth).
How do we use and disclose your personal information that we have collected?
We use and disclose your personal information for the purposes for which we collected it.
In line with Australian Privacy Principle 6, we may also use and disclose your personal information for a secondary purpose related to the purpose for which we collected it, where you would reasonably expect us to use or disclose your personal information for that secondary purpose. In the case of sensitive information, any secondary purpose, use or disclosure will be directly related to the purpose of collection.
We may also use and disclose your personal information to another party in other circumstances in compliance with the privacy regimes in Australia including where:
- you have given express or inferred consent or authorised us to do so;
- we are required or authorised by law to disclose your personal information, for example, to a court in response to a subpoena or to the Australian Taxation Office, to AUSTRAC as part of our reporting requirements or a direction;
- we suspect unlawful activity or misconduct is or may be engaged in and such collection or disclosure is necessary in order for us to take appropriate action;
- to assist in locating a person reported as missing where such disclosure is permitted by the Australian Information Commissioner;
- the use or disclosure is necessary for the establishment, exercise or defence of a legal or equitable claim;
- necessary for the purposes of a confidential alternative dispute resolution process.
Do we use and disclose your personal information for research and product development and enhancement purposes?
Nikko AM Australia is interested in knowing what sorts of products and services will best meet the needs of our customers. To do this, we need to engage in research and development processes.
This may mean conducting research tasks such as market research or it may mean developing specific customer propositions for our customers by looking at the products you already have purchased from Nikko AM Australia.
Where possible and practicable, we will use aggregated or de-identify information to conduct our research and product development. However, sometimes we may need to use personal information to understand how we can improve our products and enhance your experience with us.
We may perform these research tasks in-house, or we may outsource the activity to a third party. If we do outsource to a third party we will ensure they comply with the Australian privacy regimes.
Nikko AM Australia and its outsourced service providers may also use recordings of telephone conversations with you for training purposes or to verify discussions and information.
Do we use and disclose your personal information for marketing purposes?
We would like to use and disclose your personal information to keep you up to date with the range of products and services available from Nikko AM Australia . We are able to use your personal information for direct marketing purposes if:
- we have received the information from you;
- if you reasonably expect your information would be used in this way;
- if we have provided you with an opt out option; or
- you have not requested us to cease providing marketing material to you.
How do you tell us you do not want us to use and disclose your personal information for marketing purposes?
If you do not want us to use and disclose your personal information for the purpose of marketing products and services to you, you should contact us and tell us.
You can tell us by:
- calling the number or emailing the address provided to you in the Product Disclosure Statement you received when you selected your product from us ;
- contacting us via our website.
If you have told us you no longer wish to receive information about a Nikko AM Australia product and/or service, we will not contact you about any other products or services that Nikko AM Australia offers. You can, however, change your mind about receiving information about our products and services at any time - just let us know.
You should be aware that often the law requires us to provide you with certain information about the product or service you have chosen to receive from us. You will continue to receive this type of information from us even if you have decided not to receive information about our products and services generally.
Who do we usually disclose your personal information to and receive personal information from?
The parties to whom we may disclose your personal information to and receive personal information from will depend on what product or service you receive from us. Some examples of the parties to whom we may disclose your personal information to and receive personal information from are:
- other companies within the Nikko AM Group;
- registry, administration and custody providers relevant to our business and products;
- client relationship database providers;
- intermediaries including your agent, adviser, a broker, a representative acting on your behalf, other Australian Financial Services Licensee or our authorised representatives and our agents;
- accounting or finance specialists;
- customer research organisations;
- trustees associated with superannuation funds, including self managed superannuation funds;
- government, law enforcement or statutory bodies;
- Australian Financial Complaints Authority;
- other financial institutions;
- where required or authorised under our relationship with our joint venture companies; and
- legal and other professional advisers.
In the course of operating our business and to better understand your needs and improve our financial products and services, we may disclose your personal information to persons who may appear to be unrelated to us or the provision of products and services to you. These people are service providers who assist us in our business and who make the provision of our services and products better.
Many of these service providers work in the background for us and are essential, because they allow us to continue providing you with the level of service you have come to expect from Nikko AM Australia. Examples of the types of services and service providers are:
- administrators and registry providers who process applications, redemptions and switches and perform other back office and fund accounting services;
- custody providers;
- information technology providers, including hardware and software vendors and consultants such as programmers;
- administration or business management services, including consultancy firms, auditors and business management consultants;
- research and development service providers;
- marketing service providers for the purpose of maintaining our contact database and distributing communications;
- printers and mail service and delivery providers for the mailing of statements, and marketing material;
- imaging and document management services.
Do we disclose your information to people overseas?
There are also other instances where we may have to send your personal information overseas or collect personal information from overseas. These instances include:
- when you have asked us to do so;
- when we are authorised or required by law to do so;
- when we have outsourced a business activity or function to a service provider with whom we have a contractual arrangement and this activity is conducted overseas;
- certain electronic transactions; or
- our parent entity, Nikko AM or its related entities, are assisting us in providing services to you.
What will happen if you do not provide your personal information to us?
If we request personal information about you and you do not provide it, we may not be able to provide you with the financial product or service that you request.
In addition, if we are required to comply with certain legislation to provide you with the products and services you choose, then collection of certain personal information will be mandatory.
What if you want to be anonymous (or use a pseudonym)?
Generally, it is not possible for us to provide you with our products and services unless we have identified you and in some cases, such as when you wish to invest with us or you withdraw your investment, the law requires that you identify yourself to us.
If it is lawful and practicable to do so, we may offer you the opportunity to deal with us anonymously or via use of a pseudonym. For example, when making an inquiry about current services we offer.
What if you want to know what personal information we hold about you?
You can request access to the personal information we hold about you by contacting us.
We will endeavour to respond to your request within a reasonable time period, and if accessing your personal information will take an extended period of time, we will inform you of the likely delay. For more detailed requests for access to personal information, for example, access to information held in archives, a fee may be charged to cover the associated cost of retrieval and supplying this information.
If you wish to lodge a request to access your personal information you can contact us by:
- calling the number or emailing the address provided to you in the Product Disclosure Statement you received when you selected your product from us; or,
- contacting us via our website.
Are we able to deny your request for access to your personal information?
In some circumstances we are able to deny your request for access to personal information. The privacy regimes in Australia outline circumstances under which we may not agree to allow you access to some or all of the personal information that you have requested. The types of circumstances where we may deny you access to personal information include where the:
- request is frivolous or vexatious;
- disclosure may prejudice the prevention, investigation and detection of offences or relate to existing or legal proceedings; or
- disclosure would have an unreasonable impact or involve the unwarranted disclosure of the affairs of another individual.
If we deny your request for access, we will tell you why.
It is important to note there are a number of reasons which may also prevent us from giving you access to your personal information simply because it is not practicable. For example:
- we may not hold any personal information about you;
- you have asked for personal information about someone else and are not authorised to do so;
- we no longer have the personal information you are asking for, as it has been destroyed or de-identified.
Are you able to make correction(s) to your personal information?
We rely on the accuracy of the personal information we hold about you to efficiently provide our financial products and services to you.We will take reasonable steps to ensure that any personal information about you which we collect, use or disclose is accurate, complete and up-to-date. This includes taking reasonable steps to correct inaccurate, incomplete or out-of-date personal information, if you have asked us to do so.
If we disagree with your request for correction of your personal information, we will attach a statement to the information of the correction that you seek but which has not been made and explain the reasons for this within 30 days of your request.
Do we keep your personal information secure?
We will take all reasonable steps to protect your personal information, both held in–house and by our service providers, from loss, misuse, unauthorised access, modification or disclosure.
We protect your personal information by:
- limiting physical access to our premises to authorised people;
- restricting access to personal information;
- having in place stand-by systems and information backups to deal with major business interruptions;
- utilising a range of technical security measures such as secure authentication, password controls, encryption, firewalls and anti-virus technology to prevent unauthorised access to your information;
- regularly reviewing and testing our technology in order to improve the level of security;
- destroying or de-identifying your personal information when it is no longer required by law or our record retention policies.
Do we collect your personal information electronically or via the Internet?
If you use our website for transactional or information purposes and communicate with us via your computer or via sms on your mobile device then we may collect your personal information.
Our web site relies on "cookies" to provide a number of services to you. A cookie is a piece of data that an Internet site sends to your browser and which may then be temporarily stored on your computer. Cookies generally allow the website you are browsing to interact more efficiently with your computer. The cookies used on our website are placed by both our internal automated system and third party services providers.
The cookies placed by our internal automated system are non-persistent, meaning that they allow you to be logged in and operate efficiently with our websites but once you have logged out of your session the cookies are no longer active. These cookies are used to collect statistical information, such as how many visitors our website receives and how these users interact with the site, however, the information is specific to the session and where that person went, not who that person is.
The cookies used on our website placed by third party services providers may have a lifetime of approximately two years. These cookies help identify your computer or device, both on our website and also on websites of other third parties. This will allow us (including our third party advertising agencies) to profile visitors to our website for the purpose of targeted advertising on these other websites.
Usually you can set your browser to notify you before you receive a cookie, so that you can decide whether to accept it, however sometimes, if you do not accept a cookie it may affect your use of our web site. You can also disable and delete any cookies stored on your computer.
Security of your personal information online
Nikko AM Australia maintains industry standard technology and procedures in respect to its information management and provision of online services. Nikko AM Australia has an ongoing program of review and enhancement of its security measures. The reviews and updates address such matters as policies, processes and procedures, and technology reviews such as software, virus protection and fire wall settings.
E-mail transmissions, such as sending us an email via Outlook, Outlook Express, Hotmail or Gmail, are not necessarily secure. If you have any concern about the security of the contents of your e-mail or any other transaction over the Internet then you should consider contacting us by other means, such as telephone or via posted letter.
Once Nikko AM Australia has received your personal information, it is stored and protected by a range of security controls as detailed above in the section ‘Do we keep your personal information secure’.
Can you complain about a breach of your privacy and/or a breach of the Australian Privacy Principles (APPs)?
Yes you can. Please complain to us first. We would like to try and resolve your privacy complaint.
- calling the number or emailing the address provided to you in the Product Disclosure Statement you received when you selected your product from us; or,
- contacting us via our website.
What if you are not satisfied with our response to your complaint?
If you are not satisfied with our response, you can refer your complaint to the relevant Privacy Commissioner.
- the Australian Financial Complaints Authority (AFCA); or
- the Office of the Australian Information Commissioner (OAIC)
AFCA can be contacted as follows:
Phone: 1800 931 678
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
OAIC can be contacted as follows:
Phone: 1300 363 992
How do we deal with Privacy breaches?
Nikko AM Australia deals with Privacy breaches in line with the requirements of the Notifiable Data Breaches scheme as established by the Privacy Amendment (Notifiable Data Breaches) Act 2017. Our policy for dealing with privacy breaches sets out the breach assessment and notification process as set out by the Office of the Australian Information Commissioner.
Date of Issue: March 2019