uSMART SG Privacy Policy

USPL Privacy Policy

(“Policy”)

This Privacy Policy was last updated on 1 March 2022.

uSmart Securities (Singapore) Pte. Ltd. (“USPL", “we”, “us” or “our”) has entered into or will enter 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 USPL. 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

  • The Client understands, consents and accepts that USPL may collect, use and/or disclose Personal Data received from the Client 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 USPL’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 USPL in connection with the operation of its business, anti-money laundering checks, identity checks or provision of financial services or products to the Client;
  • any financial institution trading with or intended to trade with the Client;
  • 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 USPL or has promised the confidentiality of such information;
  • any person with whom USPL enters into or proposes to enter into a transaction with on behalf of the Client or the Account, or the persons representing the same;
  • any person who provides financial services or issues, distributes or provides capital markets products to the Client through or with USPL;
  • any foreign or local exchanges of securities, futures and/or other capital markets products where the Client’s 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 the Client from time to time may be used are:- 
  • executing or giving effect to the Client’s orders relating to transactions or otherwise, and carrying out the Client’s other Instruction;
  • providing financial services and/or products to the Client 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 the Client’s use;
  • improving the products and services and optimising the Client’s experience;
  • marketing services or products which may be of interest to the Client;
  • conducting credit inquiries or background checks on the Client and ascertaining the Client’s financial situation and investment objectives;
  • ensuring that the Client or any guarantor maintains a reliable credit;
  • collecting of amounts due, enforcing of security, charges or other rights and interests in favour of USPL 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, clearinghouses, 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, USPL 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 the Client 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 the Client has purchased or applied for.

USPL may not so use the data unless it has received the Client’s 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 and album (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.

 

Transfer of personal information

  • The Client understands, consents and acceptsthat USPL may from time to time transfer the Personal Data of the Client 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. USPL shall do so in accordance with the PDPA to ensure the USPL 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 USPL provides the Client with credit limit or financing arrangements or when the Client represents the other person of the guarantor, if the Client 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 USPL 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 the Client’s 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, the Client is entitled to order USPL 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. USPL 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 the Client’s Personal Data is current, complete and accurate, please update USPL of any changes to the Client’s personal data by contacting Data Protection Officer of USPL 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 the Client’s Personal Data, (2) withdrawal of consent to any use of the Client’s Personal Data, or (3) obtain access and/or make corrections to the Client’s Personal Data records via < dpo@usmart.sg >. You understand that a fee shall be charged by USPL for the processing of any such request.

  • If the Client does not wish for USPL to collect, retain, use or disclose the Client’s 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, the Client may withdraw their consent at any time by written notice to USPL, however, depending on the circumstances and the nature/extent of the Client’s withdrawal, the withdrawal of consent may result in USPL's inability to open or maintain any of the Accounts or to provide the Client with (or continue providing the Client with) any product, services including but not limited to the Electronic Trading Service, enter into any Transaction or maintain any of the Client’s positions and hence, may result in the termination of the Client’s customer relationship and/or the Accounts with USPL or result in other consequences of a legal nature which may arise by virtue of the Client’s legal relationship with USPL.
  • USPL 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.