The Policy outlines how we collect, hold, use, disclose, protect and otherwise handle your personal information in an open and transparent manner in accordance with the APPs and also describes generally the sorts of personal information held. By providing us with your personal information, you consent to us using, disclosing and otherwise handling your personal information in accordance with the Policy, as updated from time to time.
Subject to legislative requirements, we will only collect personal information relevant to our business relationship with you. The type of information collected from you may include your name, email address, residential and/or postal address, date of birth, employment information, financial details, tax file number or other information the organisation considers necessary. We may collect your personal information in a variety of different ways including in person or by telephone, letter, facsimile or email.
The collection of sensitive personal information is restricted by the provisions of the Act. This means we will not collect any information such as personal information relating to your religious views, ethnicity, political opinion, criminal record, health, sexual preference, unless it is required for a purpose specifically disclosed to you at the time of collection.
Ausbil has the capability to collect information about the use of our website. This information could include the number of users, when they visit, how they navigate through the pages, which pages are visited and the amount of time spent on looking through the website. Similar statistical information is also collected when we distribute other electronic material such as marketing information on our products and services. By using this website, you agree to our collection and use of this information.
You are not required to give us the information that we request. However, if you do not give us the information that we ask for or the information you give us is incomplete or inaccurate, this may prevent or delay the processing of your application or any claim, prevent us from contacting you or impact on the taxation treatment of your account.
We will, if it is reasonable or practicable to do so, collect your personal information from you. This may happen when you fill out a product or service application or an administrative form (eg. change of address) or when you give us personal information over the telephone or the internet.
Use and Disclosure
When we collect personal information from you, we will inform you of the purposes for which it is collected. The information may be used to:
- verify your identity
- provide you with our services or with other information you have requested
- establish and manage your accounts
- implement your investment instructions, process contributions, transfer monies or pay benefits
- report the investment performance of your account
- keep you up to date on other services and products offered by us
- conduct market research to develop new products
- prevent fraud and crime in relation to the products or services we are providing on your behalf
- comply with our internal policies and procedures
- comply with laws, regulations, rules, directions or requests from regulatory or government agencies.
We may need to disclose your personal information to another person or organisation. However, we will only disclose the information if we are allowed to by law and have your express or implied consent, or where we are obliged to by law
We may disclose your personal information to various third parties, including:
- any organisations involved in providing, managing or administering our products and services such as custodians, actuaries, external dispute resolution services, insurers or mail houses.
- any person acting on your behalf, or nominated by you to receive certain information, including your financial adviser, broker, solicitor or accountant (unless you tell us not to)
- your executors, administrator, trustee, guardian or attorney
- regulatory bodies, government agencies, law enforcement bodies, courts and other parties we are authorised by law to disclose information to
- any financial institution nominated by you
- external dispute resolution bodies
- where you have given your consent.
We will not disclose or use the information for any other purpose other than for what it is collected.
Because we operate throughout Australia and overseas, some of these uses and disclosures may occur outside your state or Territory and/or outside of Australia, however we will take reasonable steps to ensure that the overseas recipient does not breach the APPs. In some circumstances we may need to obtain your consent before this occurs.
Marketing Our Products and Services
We may use or disclose your personal information to let you know about, and develop, products and services that might better serve your financial, e-commerce and lifestyle needs, or promotions or other opportunities in which you may be interested. You can contact us at any time if you no longer wish to do so.
We may disclose personal information to external organisations that help us to provide services. For example, we may provide names and addresses to a mailing house to mail account statements to you. We may also seek expert help from time to time to improve our IT systems. These organisations are bound by confidentiality agreements as well as the APPs.
Protecting Your Personal Information and Website Security
We take all reasonable steps to protect your personal information from misuse, interference or loss, and from unauthorised access, modification or disclosure.
We have physical, electronic and procedural safeguards to protect your information that is held by us. For example, your personal information is stored in secure office premises, in electronic databases requiring logins and passwords for access and at secure offsite storage facilities. Access to information stored electronically is restricted to staff whose job requires access.
We take care to ensure that the personal information you give us on our website is protected. Our websites have electronic security systems in place, including the use of firewalls and data encryption.
You should note that there are inherent security risks in transmitting information through the internet. You should assess these potential risks when deciding whether to use our online services. If you do not wish to transmit information through our website, there are other ways in which you can provide this information to us.
Access and Correction of Information
You can access most of the personal information we hold about you and request corrections. Your right of access is subject to some exceptions allowed by law. If you wish to access your personal information, you should contact us through our office (see contact details below).
Factors affecting a right to access include:
- access would pose a serious threat to the life or health of any individual
- access would have an unreasonable impact on the privacy of others
- a frivolous or vexatious request
- the information relates to a commercially sensitive decision-making process
- access would be unlawful
- legal dispute resolution proceedings
- we are prevented by law from disclosing.
If for some reason we are unable to comply with your request to access your personal information, we will inform you and explain the reasons why. You may request us to provide the source of the personal information we hold, which will be notified unless it is impractical or unreasonable to do so.
You have a right to ask us to correct any information we hold about you if you believe it is inaccurate, incomplete, out of date, irrelevant or misleading. If we do not agree with the corrections you have supplied and refuse to correct the personal information, we are required to give you written notice to that effect and a statement if requested.
Using Government Identifiers
We only use or disclose your tax file number or other government agency identifier for the purposes required by law, such as disclosing your tax file number to the Australian Taxation Office.
We Destroy Information We No Longer Need
We will destroy personal information if it is no longer needed for the purposes for which it was collected or for the purposes of meeting legal requirements. We use secure methods to destroy or de-identify any personal information as soon as the law permits, provided the information is no longer needed by us for any purpose. Ordinarily, for information about a particular account, we destroy the information 7 years from the day you close the account. All information stored in electronic form that is no longer required will be deleted from our system.
If you believe that we have mishandled your personal information, in turn, breaching the APPs, you may lodge a complaint with us. The complaint, addressed to the Compliance Officer (see details below), must be in writing in accordance with the Act. From receipt of your written complaint, the Compliance Officer has 30 days to respond. The complaints policy is available here.
Changes to this Policy
The Policy is available on our website, www.ausbil.com.au, or can be obtained by contacting our Client Services Team (see details below).
This Policy is subject to change from time to time. You should periodically check this Policy to ensure you are aware of how your personal information may be used.
If you have any questions about this Policy, if you have a complaint about our collection, use or management of your personal information, or if you wish to access or correct your personal information, please contact the appropriate person as set out below.