uSMART SG Privacy Policy

USMART SG Privacy Policy

(“Policy”)

 

This Privacy Policy was last updated on 21 Setepmber 2022.

 

 

uSMART Securities (Singapore) Pte. Ltd. (“uSMART", “we”, “us” or “our”) has entered into a client agreement (including the Account Opening Form) as may be varied, amended or supplemented from time to time (“Agreement”), with you for the relevant products or services provided to you (including services such as brokerage account opening and trading) and this Policy is part of the Agreement and applies to the products or services provided by uSMART. Capitalised terms in this Policy shall have the same meanings as set out in the Agreement, unless stated otherwise.

 

Where any conflict arises between the provisions of the Agreement and this Policy, the provisions of the Agreement shall prevail.

This Policy has a close relationship with your use of our products and services. Please read this Policy carefully before using any of our products and services, and use the relevant products and services after you acknowledge that you fully understand and agree to this Policy. By starting to use any of our products or services, it represents that you fully understand and agree to this Policy and agree that we will collect, use, store, share and protect your related information in accordance with this Policy. Depending on the different use of the products and services and the different type of transactions, your personal information will be treated strictly in accordance with the Personal Data Protection Act 2012 (the “PDPA”) and similar applicable laws of the relevant jurisdictions.

 

Who we share with regards to your personal information

 

• You understands, consents and accepts that uSMART may collect, use and/or disclose Personal Data received from you to the following persons (whether within or outside of Singapore) for the purposes set out below: 

 

• any nominees in whose name securities or other assets may be registered;

 

• any member or affiliated or related company in the uSmart Group including but not limited to uSMART’s parent and/or subsidiary companies;

 

• any contractor, adviser, agent or third party service provider which provides administrative, background checking, data processing, financial, computer, telecommunication, payment or clearing, professional or other services to uSMART in connection with the operation of its business, anti-money laundering checks, identity checks or provision of financial services or products to you;

 

• any financial institution trading with or intended to trade with you;

 

• credit reference agencies, and, in the event of default, to debt collection agencies;

 

• any person as guarantor or intended to be guarantor;

 

• any person (or any member of the uSmart Group) who holds the duty of confidentiality for uSMART or has promised the confidentiality of such information;

 

• any person with whom uSMART enters into or proposes to enter into a transaction with on behalf of you or the Account, or the persons representing the same;

 

• any person who provides financial services or issues, distributes or provides capital markets products to you through or with uSMART;

 

• any foreign or local exchanges of securities, futures and/or other capital markets products where your orders to buy or sell such securities, futures and/or other capital markets products are placed or transacted; or their associated clearing houses or operators;

 

• any assignee, transferee, participant, sub-participant, delegate, successor or person to whom this Agreement is novated; and

 

• any foreign or local governmental, regulatory, supervisory, tax, law enforcement or other authorities, bodies or institutions.

 

Usage and purpose of your personal information

 

• The Client understands, consents and accepts that the purposes for which the Personal Data provided by you from time to time may be used are:- 

 

• executing or giving effect to your orders relating to transactions or otherwise, and carrying out your other Instruction;

 

• providing financial services and/or products to you or in connection with the Account, whether the services or products are provided by or through any other member of uSmart Group or any other person, within or outside Singapore;

 

• providing personalised financial analysis and planning or designing financial services or products for your use;

 

• improving the products and services and optimising your experience;

 

• providing third parties products and services required by you, or carry out data analysis or research for uSMART, or improve our products and services. At present, third parties SDK services that we access mainly include the following types:-

 

• providing instant message communication function;
• providing free-flow services;
• reporting and analysing of user behaviour data;
• reporting of APP crash;
  • performance statistics
  • live-streaming support function
• providing services related to browsers;
• advertising statistic and monitoring;
• login by third party account;
• sharing contents of uSMART on third parties’ platforms by you.

 

Relevant parties are in charge of operation of these third parties service, which shall subject to the service terms and message protection statement of such third parties (not this Privacy Policy). To obtain an understanding of device permission types called by such third parties SDK, and how your personal information is collected and used, it is suggested that you shall refer to relevant service agreement and privacy policy of third parties SDK. For further information related to the third parties SDK that we access, please refer to the Third parties SDK List of uSMART.

 

• marketing services or products which may be of interest to you;

 

• conducting credit inquiries or background checks on you and ascertaining your financial situation and investment objectives;

 

• ensuring that you or any guarantor maintains a reliable credit;

 

• collecting of amounts due, enforcing of security, charges or other rights and interests in favour of uSMART or any member of uSmart Group;

 

• complying with and/or enabling any affiliated or related company in the uSmart Group to comply with any applicable laws, regulations, codes of practice, guidelines, or rules, or to assist in law enforcement and investigations conducted by any governmental and/or regulatory authority, including all government agencies and authorities, tax authorities, regulators, exchanges, clearing houses, markets, or depositories, within or outside Singapore, existing currently and in the future;

 

• complying with obligations, requirements, policies, procedures, measures and arrangements for sharing Personal Data and information within the uSmart Group and/or any other use of Personal Data in accordance with any uSmart Group wide programmes for compliance with sanctions or prevention or detection of money laundering, terrorist financing or other unlawful activities;

 

• enabling the actual or suggested transferee on the conditions of merge, combination, re-organisation or other conditions to evaluate the trading planned to be transferred; and

 

• other purposes related or incidental to any one or more of the above.

 

• In addition to Clause 18.4, uSMART intends to use, from time to time, Client’s Personal Data in direct marketing of capital markets products and services, including but not limited to securities, futures, fixed income, currencies, commodities, wealth management, asset management, equity financing, equity derivatives, insurance, and other capital markets products and services. Only the following kinds of Personal Data of you may be used in such direct marketing:

 

• name;
• gender;
• date of birth;
• part of identity card or passport number;
• contact information (including but not limited to phone number, fax number, email address, correspondence address and residential address);
• information about the products and/or services you has purchased or applied for.

 

uSMART may not so use the data unless it has received your consent to the intended use.

 

• During the account opening process, you shall provide your identity information as required in accordance with laws, regulations and regulatory provisions, including but not limited to name, nationality/country of legal residence, type/number of valid identity certificate, mobile phone number, email address, residential address information, date of birth, personal specimen signature, face identification information, tax information, the country of birth; if your permanent address is different from the ID address, you are required to separately provide documents to prove your residential address (for example, water and electricity bill/bank statement/driver license/housing property certificate/household register, etc. which contains address information).

 

• When you perform face recognition and identity verification, you may need to enable the camera, microphone, and photo album permissions of the device. We will collect your facial features and valid identity documents and use them strictly within the scope of your authorisation to safeguard the security of your account and transaction (this includes but is not limited to the sharing of such facial features and identity documents with third-party vendors for anti-money laundering checks, compliance and verification purposes). If you do not want to provide the above information or refuse to open the above device permission, you may not be able to complete the account opening process and will not be able to use the corresponding services and functions provided by us.

 

• When you post or comment in the community, you may need to enable the camera and photo album permission for any video, audio, photo or avatar you post as your profile image and/or in the comments section in the community. You may need to give permission to access your photo album when you save any pictures or images in the APP. Simultaneously, information relating to your clicks, browsing, following, favourites, searches, comments, sharing, uploading of pictures, audio and video generated during your access and use of community and APP will be collected. Any information uploaded and created by you will be stored in our server. Keep in mind that search engines and other third parties may still retain copes of your public information, such as any posts and comments you made in the community even after you have deleted the information or deactivated your account.

 

Transfer of personal information

 

• The Client understands, consents and acceptsthat uSMART may from time to time transfer the Personal Data of you outside Singapore to any of the persons referred to in section 1.1 above and for any of the purposes referred to in sections 1.2 to 1.4 above. uSMART shall do so in accordance with the PDPA to ensure the uSMART provides a standard of protection to personal data so transferred that is comparable to the protection under the PDPA. However, such personal data and information may be processed stored or maintained in accordance with the local data protection laws, rules and regulations applicable in the relevant jurisdiction.

 

Retention of personal information

 

• When uSMART provides you with credit limit or financing arrangements or when you represents the other person of the guarantor, if you or the borrower is delinquent on the payment for more than sixty (60) calendar days or other duration prescribed from time to time by laws or related regulations, the related credit information service institution can keep the information provided by uSMART for five (5) years starting from the final clear-off day or five (5) years starting from the day when the institution receives the notification of your discharge of bankruptcy, the earlier day being the standard. If the related Account is closed due to full payment and if there is no material delinquency five (5) years prior to the close of the Account, you is entitled to order uSMART to submit the request to the related institutions of deleting any Account information from the database but such order shall only be issued within five (5) years subsequent to the close of the Account.

 

• Personal Data will be held for as long as it is necessary to fulfill the purpose for which it was collected, or as required or permitted by applicable laws, rules and regulations. uSMART shall cease to retain Personal Data or remove the means by which the Personal Data can be associated with particular individuals, as soon as it is reasonable to assume that the purpose for which that Personal Data was collected is no longer being served by retention of the Personal Data and retention is no longer necessary for legal or business purposes.

 

Correction of personal information

 

• In order to ensure that your Personal Data is current, complete and accurate, please update uSMART of any changes to your personal data by contacting Data Protection Officer of uSMART at the contact details stated below.

 

You have the right to request a copy of such Personal Data and may request the correction of the Personal Data to the extent that applicable laws allow. You acknowledge that some Personal Data may be exempt from such access and/or correction rights. Data Protection Officer can be contacted for (1) queries, requests, feedback relating to your Personal Data, (2) withdrawal of consent to any use of your Personal Data, or (3) obtain access and/or make corrections to your Personal Data records via dpo@usmart.sg. You understand that a fee shall be charged by uSMART for the processing of any such request.

 

• If you does not wish for uSMART to collect, retain, use or disclose your Personal Data to any of the persons referred above in section 1.1 above and for any of the purposes referred to in sections 1.2 to 1.4 above, to the extent applicable under Singapore personal data protection laws and regulations, you may withdraw their consent at any time by written notice to uSMART, however, depending on the circumstances and the nature/extent of your withdrawal, the withdrawal of consent may result in uSMART's inability to open or maintain any of the Accounts or to provide you with (or continue providing you with) any product, services including but not limited to the Electronic Trading Service, enter into any Transaction or maintain any of your positions and hence, may result in the termination of your customer relationship and/or the Accounts with uSMART or result in other consequences of a legal nature which may arise by virtue of your legal relationship with uSMART.

 

Withdrawal of personal information

 

• If you have registered yourself as a user for uSMART APP but has not opened or in the midst of opening a trading account with uSMART (including waiting for account approval), you can close your uSMART APP account by accessing [SMART àSettings à Account & Security à Cancel your Account]. If you have opened a trading account with uSMART, you can close your uSMART trading account together with the uSMART APP account by contacting us at support@usmart.sg. After you close your uSMART trading account, uSMART reserves the right to retain your information in accordance with the Securities and Futures Act 2001 and relevant regulations and notices and guidelines issued by the Monetary Authority of Singapore. Your personal information will be deleted or anonymised after the regulatory retention period has expired.

 

• uSMART may revise this Policy from time to time without any prior notice. You may determine if any such revision has taken place by referring to the date on which this Policy was last updated. Your continued use of our services constitutes your acknowledgement and acceptance of such changes.