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Privacy Policy

Privacy policy

1. Introduction

Sonaf Business Ltd, is a Cyprus Investment Firm incorporated under the laws of Cyprus, which has its
principal place of business at 133, Makarios III Avenue, Classic House, 1st Floor, CY-3085 Limassol,
and registered with the Registrar of Companies in Nicosia under number: ΗΕ 301937 (the
“Company”). The Company is regulated as a Cyprus Investment Firm (‘CIF’) by the Cyprus Securities
and Exchange Commission (‘CySEC’) under license number 174/12.
The General Data Protection Regulation (GDPR) aims at harmonising data protection laws in the EU
that are fit for purpose in the digital age. The way data is collected, stored and used has changed
fundamentally in the past 25 years and with the growth of the internet and the amount of data held
growing exponentially, the existing data protection rules can no longer be deemed sufficient.
By introducing a single law, the EU believes that it will bring better transparency to help support the
rights of individuals and grow the digital economy. GDPR imposes rules on companies, government
agencies and other organisations that offer goods and services to people within the EU, or those that
collect and analyse data tied to EU residents. From an economic standpoint, the GDPR aims to
simplify the regulatory environment for international business by unifying the regulation within the
The primary objective of the GDPR is ‘To harmonise Data Privacy Laws across Europe’ and is about
individuals rights over information about themselves; when it may be obtained, how it must be
protected, and what may or may not be done with it.
2. Legal Framework
The current legislation for the processing and protection of personal data in Cyprus is the Processing
of Personal Data (Protection of the Individual) Law of 2001 (the “Law”).
The Law is based on the European Directive 95/46/EC of the European Parliament and of the Council
of the 24th of October 1995 (the “Directive”) and has a twofold purpose; the protection of the
fundamental rights and privacy of individuals and ensure the free circulation of personal data in the
Member States in order to achieve economic and social progress; and the technical and scientific
cooperation in the ever-increasing information and telecommunication society.
The implementing legislation for the General Data Protection Regulations (“GDPR”) is, Regulation
(EU) 2016/679 of the European Parliament and the Council of 27th April 2016, on the protection of
natural persons with regard to the processing of personal data and on the free movement of such
data. GDPR replaces and repeals directive 95/46/EC.
In Cyprus, the Office of the Commissioner for Personal Data Protection is responsible for
implementing existing legislation in relation to data protection. Cyprus is currently drafting a bill for
GDPR implementation which will replace Law 138(I)/2001.
Because the GDPR is a regulation and not a directive, it means that it is directly applicable in all EU
member states from May 2018. A directive only directs member states to implement ruling but does
not enforce.

3. Sonaf Business Ltd
Sonaf Business Ltd (hereinafter, “The Company is committed to protecting the rights and privacy of
individuals in accordance with relevant legislation such as applicable Data Protection Acts, in any
jurisdiction in which it does business.
The Company has overall responsibility for ensuring compliance with applicable Data Protection
legislation. All Employees who collect or control the contents and use of personal data are also
responsible for compliance with the applicable legislation. The Company will provide support and
training to all Employees to ensure they are in a position to comply with the legislation.
4. Data Protection – An Overview
Date Protection Principals (Article 5):
Data must be:
 Processed lawfully, fairly and in a transparent manner
 Collected for specific, explicit and legitimate purposes (purpose limitation)
 Adequate, relevant and limited to what is necessary for the purposes (data minimisation)
 Accurate and kept up to date – erroneous data erased or rectified without delay (accuracy)
 Kept for no longer than is necessary for the purposes (storage limitation)
 Stored with appropriate security, protection against unauthorised or unlawful processing, no
accidental loss, destruction or damage (integrity and confidentiality)
Who does the GDPR apply to?
The GDPR applies to processing of personal data carried out by organisations operating within the
EU as well as organisations outside the EU that offer goods or services to individuals in the EU. GDPR
categorises organisations as either ‘Controllers’ and/or ‘Processors’. Controllers determine the
purposes and means of processing personal data, whereas Processors are responsible for processing
personal data on behalf on a Controller.
Article 5(2) requires that “the controller shall be responsible for, and be able to demonstrate,
compliance with the principles.”
For the purposes of GDPR, THE COMPANY are considered to be both Controllers and Processors.
Depending on the category of data subject THE COMPANY may utilise third parties in other
jurisdictions to act as Processors.
What information does the GDPR apply to?
The GDPR applies to ‘personal data’ meaning any information relating to an identifiable person who
can be directly or indirectly identified in particular by reference to an identifier
The GDPR refers to sensitive personal data as “special categories of personal data”

5. Data Protection Officer
The GDPR requires certain companies to have a designated Data Protection Officer (DPO) whose
duties and responsibilities are listed below.
The Company has appointed a DPO who has the requisite expertise commensurate with the
complexity and sensitivity of the data being processed and who holds a complete understanding of
GDPR. The DPO reports directly to the Board of Directors and has no conflict of interest.
The duties of the DPO include:
 Ensuring compliance with the GDPR, local laws and legislation;
 Provision of training and ensuring that employees are aware of their obligations per the
 Completion of DPIA’s; and,
 Cooperate and act as a point of contact on GDPR maters on behalf of The Company.
 Review all policies, procedures and controls to ensure that data is
 processed lawfully, fairly and transparently,
 collected for specific, explicit and legitimate purposes,
 is limited to what is necessary for the Data Subject,
 is accurate and where identified by the Data Subject or by The Company that data is
not accurate, take appropriate action to rectify or correct
 is held for a minimum period, depending on various legislation, after the relationship
with the data subject has terminated
6. Lawful basis for processing
According to GDPR, all Companies must have a valid lawful basis in order to process personal data.
There are six available lawful bases for processing. No single basis is considered ’better’ or more
important than the others, however the basis used will depend on your purpose and relationship
with the individual (Data Subject).
Most lawful bases require that processing is ‘necessary’ and if a Company can reasonably achieve
the same purpose without the processing, then there is no lawful basis. Lawful basis should be
determined before processing begins and should be documented in both The Company’s internal
records and privacy notices, along with the purpose for processing.
What are the lawful bases for processing?
The lawful bases for processing are set out in Article 6 of the GDPR. At least one of these must apply
whenever personal data is processed:
a) Consent: the individual has given clear consent for you to process their personal data for a
specific purpose.
b) Contract: the processing is necessary for a contract you have with the individual, or because
they have asked you to take specific steps before entering into a contract.

c) Legal obligation: the processing is necessary for you to comply with the law (not including
contractual obligations).
d) Vital interests: the processing is necessary to protect someone’s life.
e) Public task: the processing is necessary for you to perform a task in the public interest or for
your official functions, and the task or function has a clear basis in law.
f) Legitimate interests: the processing is necessary for your legitimate interests or the
legitimate interests of a third party unless there is a good reason to protect the individual’s
personal data which overrides those legitimate interests. (This cannot apply if you are a
public authority processing data to perform your official tasks.)
The highlighted lawful bases are those which apply to various processing of personal data by the
Company. For more information on specific lawful basis and purpose of processing related to
individual processes, please refer to The Company’s Information Asset Register (IAR).
It should be noted that the Company may utilise more than one lawful basis for the collection of
data in relation to its data subjects.
6.1 Consent
The Company does not rely solely on Consent as a means of lawful basis for any processing of
personal data, although data is collected from data subjects with their consent either through
various agreements and/or through the actual collection of the data directly from the data subject
According to GDPR, Consent means offering data subjects real choice and control, all data subjects
have control over the data they provide to the Company and are fully aware of the purposes for the
data collection.
The Company keeps a record of when and how consent is collected from the data subject in its IAR
ensuring to regularly review and refresh consents at appropriate intervals when and if this is
deemed necessary.
Practical application will usually apply to:
 Application forms for Client/Introducing Broker Accounts; and,
 Employer/employee relationship
 Third Party service providers
6.2 Contract
The Company has in place, with various data subjects, contracts and agreements and uses this lawful
basis to process data subject’s personal data to fulfil contractual obligations. The processing of the
data under this lawful basis must always be necessary, thereby if the Company could reasonably do
what is needed without the processing of personal data, this basis will not apply.
The decision to rely on this lawful basis and justification is documented in the Company’s IAR.
Practical application will usually apply to:
 Client Agreements
 Introducing Broker Agreements

 Employment Agreements
 Third Party/Vendor Agreements
6.3 Legal obligation
As a licensed Cypriot Investment Firm (CIF), the Company is subject to various laws and regulations
issued by the Cyprus Securities and Exchange Commission (CySEC) in order to maintain its license
and authorisation. In addition, various legislation related to companies incorporated in Cyprus may
apply, such as the obligation to pay tax and social insurance on behalf of employees.
Reliance on this lawful basis is made when the process of personal data is needed to comply with
common law of statutory obligation.
The decision to rely on this lawful basis, the justification, as well as the specific legal provision is set
out in the Company’s IAR. Legal obligation generally includes:
 Customer Identification and Due Diligence in accordance with articles 60-66 of The
Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007-2018
and Amending Law 158(Ι)/2018 and Part V of The Cyprus Securities and Exchange
Commission for the Prevention of Money Laundering and Terrorist Financing (Directive
DI144-2007-08 of 2012)
 L.87(I)/2017 Law for the provision of investments services, the exercise of investment
activities and the operation of regulated markets
 Regulation 596/2014; Regulation (EU) No 648/2012; Regulation (EU) No 600/2014
 Assessment and Collection of Taxes Laws of 1978 - 2015
 CRS Decree: Assessment and Collection of Taxes (Exchange of Information) in the frame of
the Multilateral Competent Authority Agreement
 Automatic Exchange of Financial Account Information Decree of 2016
6.4 Legitimate Interest
Legitimate Interest is different to the other lawful bases as it is not centred around a particular
purpose (e.g. performing a contract with the individual or complying with a legal obligation) and
could in principle apply to any type of processing for any reasonable purpose.
When determining whether legitimate interest can be used as a lawful basis for the collection of
data, the Company may apply the following three-part test:
1. Purpose Test: Is there a legitimate interest behind the processing of the data?
2. Necessity Test: Is the processing necessary for that purpose?
3. Balancing Test: Is the legitimate interest overridden by the data subject’s interests, rights or
The processing of personal data under this lawful basis is considered by the Company to fall into one
of the following categories:
 Internal administrative purposes relating to the data subject
 Marketing
 Developing new products and services and improving existing products (e.g. correcting
errors, developing greater ease of use for more actively used services)
 Processing personal data to prevent fraud
 Security risk management and resolve disputes in court or extra judicially
 Legal compliance requirements
 To report Money Laundering and Terrorist Financing to a competent authority
 Internal corporate governance
In all instances the legitimate interest is documented in the Company’s IAR.
6.5 Criminal offence data
To process personal data about criminal convictions or offenses, the Company is required to have
both a lawful basis, under Article 6 and either legal authority or official authority for the processing
under Article 10.
The Company for the purposes of fulfilling its legal obligation to apply Enhanced Due Diligence (EDD)
of high-risk clients, utilises a risk intelligence data screening system called World-Check. The source
of risk intelligence helps the Company to meet its regulatory obligations, make informed decisions
and help prevent the Company from inadvertently being used to launder the proceeds of crime or
association with corrupt business practices.
The Company uses the full name of the data subject to screen against data that is derived from
sources available to the general public, including:
 600+ sanction, watch, regulatory and law enforcement lists
 Local and international government records
 Country specific data sources
 International adverse electronic and physical media searches
 English and foreign language data sources
 Other relevant industry sources
Data is assessed using a built-in screening platform provided by World-Check.
7. Data Subject Individual Rights
The GDPR provides the following rights for individual data subjects:
 The right to be informed
 The right of access
 The right to rectification
 The right to erasure
 The right to restrict processing
 The right to data portability
 The right to object
 Rights in relation to automated decision making and profiling.
7.1 Right to be informed
Data Subjects have the right to be informed about the collection and use of their personal data
which is a key transparency requirement under the GDPR.

The Company provides individuals with information including, the purpose for processing their
personal data, the retention periods for that personal data and who it will be shared with,
collectively known as the Privacy Notices.
Privacy Notices are provided to individuals at the time the personal data is collected from them and
within 1 month when personal data is obtained from other sources. In some instances, the Privacy
Notices are not provided, and this is usually the case when the individual already has access to the
information. The Privacy Notices are concise, transparent, intelligible, easily accessible and is
disseminated in clear and plain language.
The DPO regularly reviews, and where necessary, updates the Privacy Notices specially to bring new
uses of individual’s data to their attention before processing begins.
7.2 Right of access
Data subjects have the right to access their personal data and supplementary information. The right
of access allows individuals to be aware of and verify the lawfulness of the processing.
The DPO reserves the right to refuse to grant a data subject access if it is determined that the
request is manifestly unfounded or excessive. The DPO will confirm in writing to the Board of
Directors if he/she believes that the data request is not justified setting out the reasons as soon as
practical. The Board of Directors will review the justification of the DPO to reject the data access
request and will provide a final decision. The DPO will require approval from the Board of Directors
before confirming to the data subject if the data access request has been refused.
Where the DPO approves a right to access, he/she shall liaise will all relevant departments who hold
the data, for the purposes of gathering all data related to the request for access. The DPO may
request The Company’s IT providers to make a search of documentation on The Company’s systems
who will provide a copy of all data to the DPO.
Should there be a delay whereby the Company will not be in a position to provide the data within 1
month, the DPO will write to the data subject to confirm any delays and advise the reasons for same.
Data will be provided to the data subject by way of:
1. Hard copy format or
2. Digital format by electronic means.
Data Subjects are informed of their right to access their personal data and may be provided a
supplementary form to fill, in order to facilitate their request.
7.3 Right to rectification
The GDPR includes a right for individuals to have inaccurate personal data rectified or completed if it
is incomplete. Any individual can make a request for rectification verbally or in writing to The
Company, and details of where such request should be made are provided to the data subjects in
the Privacy Notices. Data subjects may be provided supplementary forms to fill, in order to facilitate
their request.
The Company responds to all requests within 1 calendar month, and may, only in certain
circumstances refuse a request for rectification. A copy of the amended data will be provided by the

DPO to the data subject confirming that the data has been amended or completed if deemed as
being incomplete.
Should there be a delay whereby the Company will not be in a position to provide the data within 1
month, the DPO will write to the data subject to confirm any delays and advise the reasons for same.
Data will be provided to the data subject by way of:
1. Hard copy format or
2. Digital format by electronic means.
7.4 Right to erasure
The GDPR introduces a right for individuals to have personal data erased also known as ‘the right to
be forgotten’. The right is not absolute and only applies in certain circumstances/lawful bases.
Data subjects are able to make a request, if applicable, to the Company either verbally or in writing.
The Company will respond to all requests within 1 month.
A determination to erase data will be based on the following criteria:
 The data is no longer necessary for the purpose it was collected;
 The data subject withdraws consent;
 There are no legitimate grounds to process the data;
 There is no legal obligation to continue to store the data;
 The data has been unlawfully processed; and
 To comply with GDPR or other legislation.
If a decision has been made by the DPO to grant the data subject’s request for erasure, they will
inform the data subject of this fact.
7.5 Right to restrict processing
Individuals have the right to request the restriction or suppression of their personal data, however
this is not an absolute right and only applies in certain circumstances/lawful bases. When processing
is restricted, the Company is permitted to store the personal data, but not use it. This right has close
links to the right to rectification (Article 16) and the right to object (Article 21).
Data subjects are able to make a request, if applicable, to the Company either verbally or in writing.
The Company will respond to all requests within 1 month.
7.6 Right to data portability
The right to data portability allows individuals to obtain and reuse their personal data for their own
purposes across different services. It allows them to move, copy or transfer personal data easily
from one IT environment to another in a safe and secure way, without hindrance to usability.
Data Subjects are required to fill in a ‘Data Transfer Form’, providing details of the third party to
whom they wish the data sent and must ensure that they provide permission for such a transfer to
take place.
7.7 Right to object

Individuals have the right to object to:
 processing based on legitimate interests or the performance of a task in the public
interest/exercise of official authority (including profiling);
 direct marketing (including profiling); and
 processing for purposes of scientific/historical research and statistics.
7.8 Rights related to automated decision-making including profiling
The GDPR has provisions on:
 automated individual decision-making (making a decision solely by automated means
without any human involvement); and
 profiling (automated processing of personal data to evaluate certain things about an
individual). Profiling can be part of an automated decision-making process.
The GDPR applies to all automated individual decision-making and profiling. Article 22 of the GDPR
has additional rules to protect individuals if the Company are carrying out solely automated
decision-making that has legal or similarly significant effects on them.
The Company can only carry out this type of decision-making where the decision is:
 necessary for the entry into or performance of a contract; or
 authorised by Union or Member state law applicable to the controller; or
 based on the individual’s explicit consent.
Currently the Company utilises decision making and profiling in order to ascertain if a client of the
Company is appropriate to trade in the products offered by the Company or receive services. The
‘Appropriateness Test’ and ‘Suitability Requirement’ obligations stem from the Company’s
requirements under the governing law to create a risk, economic and appropriateness profile on
their clients.
8. Accountability and governance
The Company has implemented appropriate technical and organisational measures that ensure and
demonstrate its compliance with the GDPR. This include internal data protection policies such as
staff training, internal audits of processing activities, and reviews of internal HR policies.
Further to this, the Company maintains relevant documentation on processing activities including,
but not limited to its Information Asset Register, Data Flow Maps and Data Protection Policies. It has
also implemented measures that meet the principles of data protection by design and data
protection by default which includes:
 Data minimisation
 Transparency
 Creating and improving security feature on an ongoing basis
 Allowing individuals (including external auditors) to monitor processing and processes
 Use Data Protection Impact Assessments (DPIA) where appropriate

 Having in place written contracts with processors ensuring clarity as to both parties’
responsibilities and liabilities
 Documenting of processing activities and maintaining adequate records
 Implementation of information audits or data-mapping exercises
9. Data protection impact assessments
A data protection impact assessment (DPIA) is a process which helps the Company identify and
minimise the data protection risks of a project/process. DPIA must be carried out for certain listed
types of processing, or any other processing that is likely to result in high risk to individual’s
The DPIA must:
 describe the nature, scope, context and purposes of the processing;
 assess necessity, proportionality and compliance measures;
 identify and assess risks to individuals; and
 identify any additional measures to mitigate those risks.
To assess the level of risk, the Company considers both the likelihood and the severity of any impact
on individuals. High risk could result from either a high probability of some harm, or a lower
possibility of serious harm.
The DPIA will be carried out by the DPO.
9.1 DPIA Process
The Company will always carry out a DPIA when:
 Using systematic and extensive profiling or automated decision-making to make significant
decisions about data subjects;
 Processing special categories of data or criminal offense data on a large scale;
 Using new technologies;
 Using profiling, automatic decision making or special category data to help make decisions
on a data subjects’ access to a service/product;
 Processing biometric or genetic data;
 Processing personal data without providing a privacy notice directly to the data subject;
 Processing personal data which could result in a risk of physical harm in the event of a
security breach;
The Company will consider carrying out a DPIA when:
 Automated decision-making with significant effects;
 Processing of sensitive data or data of a highly personal nature;
 Processing on a large scale;
 Processing of data concerning vulnerable data subjects;
 Innovative technological or organisational solutions;
 Processing involving preventing data subjects from exercising a right or using a service or

When carrying out a DPIA, the Company will:
 Describe the nature, scope, context and purpose for the processing;
 Ask any data processors to help us understand and document their processing activities,
thereby identifying any associated risks;
 Ensure that the processing is necessary for and proportionate to the Company’s purposes,
describing how the Company’s will ensure data protection compliance;
 Make an objective assessment of the likelihood and severity of any risks to individuals’ rights
and interests;
 Identify measures the Company can put in place to eliminate or reduce high risks;
 Record the outcome of the DPIA, including any difference of opinion with our DPO or
individuals consulted.
 Implement the measures identified and integrate them into our project plan.
 Keep DPIAs under review and revisit them if necessary.
10. Security
The GDPR requires personal data to be processed in a manner that ensures its security. This includes
protection against unauthorised or unlawful processing and against accidental loss, destruction or
damage. It requires that appropriate technical or organisational measures are used.
The Company takes reasonable precautions to protect personal information/data from loss, theft,
misuse, unauthorized access or disclosure, alteration, or destruction. The Company employs
physical, electronic, and procedural safeguards to protect personal information/data and it does not
store personal information/data for longer than necessary for the provision of services or as
permitted by law.
The Company’s datacenter(s) contain both internal and external servers. Access to the Company’s
internal server is restricted to authorised personnel (i.e. employees and authorised service
providers), servers and locations; our external servers can be accessed via the Internet. Any personal
information/data provided by clients to the Company will be strictly protected under enhanced
measures of security, protected against loss, misuse, unauthorized access or disclosure, alteration,
or destruction with use various security measures such as encryption during data transmission,
strong authentication mechanisms and separation of machines and data to provide secure areas in
order to protect clients’ personal information from unauthorised users and such personal
information will be treated as confidential and shared only with the Company and its affiliates
and/or authorised service providers and shall not be disclosed to any third parties except, and
without notice, in accordance with the provisions of this Policy as well as under any regulatory or
legal proceedings.
The Company also informs all clients to serve and protect their personal data and advises all clients
to maintain confidentiality and not share with others its usernames and passwords provided by the
Company. The Company bears no responsibility for any unlawful or unauthorised use of clients’
personal information due to the misuse or misplacement of clients’ access codes (i.e.
passwords/credentials), irrespective of the way such use was conducted including without limitation
negligent or malicious use.

The Company uses reasonable endeavours to implement appropriate policies, rules and technical
measures to protect the personal data that we have under our control (having regard to the type
and amount of that data) from unauthorised access, improper use or disclosure, unauthorised
modification, unlawful destruction or accidental loss. For instance, our security measures include,
but are not limited to:
 educating our employees as to their obligations with regard to your personal data;
 requiring our employees to use passwords and two-factor authentication when accessing
our systems;
 encrypting data sent from your computer to our systems during internet transactions and
client access codes transmitted across networks;
 employing firewalls, intrusion detection systems and virus scanning tools to protect against
unauthorised persons and viruses entering our systems;
 using dedicated secure networks or encryption when we transmit electronic data for
purposes of outsourcing;
 practicing a clean desk policy in all premises occupied by us and our related bodies
corporate and providing secure storage for physical records; and
 employing physical and electronic means such as alarms, cameras and guards (as required)
to protect against unauthorised access to buildings.
The Company ensures that data subject’s information will not be disclosed to government
institutions or authorities except if required by law (e.g. when requested by regulatory bodies or law
enforcement organisations in accordance with applicable legislation).
10.1 IT Department
The company requires that all computer equipment is connected to a Firewall, anti-malware
software, and automatic updating facilities that are all up to date and meet the corporate minimum
business standards acceptable in the financial industry. The company also requires:
 deployment of the corporate policy on usernames and passwords, to have a password
protected screensaver, and to password protect and encrypt all folders containing
confidential corporate information, sensitive personal information, personably identifiable
information, and to disable folder and printer sharing.
 All notebook computers that carry personal data or are able to connect to systems that store
or process personal data, use full-disk encryption.
 that notebook computers are physically protected against theft and damage while in transit,
in storage or in use and that, in cases of loss or theft.
 That the IT departments ensures that all the recent operating system and application
security-related patches, fixes and updates have been installed.
 Employees to comply with the corporate requirements on the means of connecting to public
access points and accessing corporate information.
 That all computers and notebooks are protected by an anti-virus and antimalware software.
 Comprehensive IT and security solutions table:
Comprehensive IT and security solutions table:

Encryption software for hard drives None
Encryption software for information
held at the server

Website and CRM provider CRM: Salesforce

Website: Handled by our current IT
Provider Viptech sal

Trading platform MT4
Internet Service provider ONLINE.NET
File server provider Microsoft
Firewall provider Microsoft
Antivirus software Microsoft


11. Personal data breaches
The GDPR introduces a duty on all organisations to report certain types of personal data breach to
the relevant supervisory authority. The Company is obliged to do this within 72 hours of becoming
aware of the breach, where feasible.
If the breach is likely to result in a high risk of adversely affecting individuals’ rights and freedoms,
The Company is required to also inform those individuals/data subjects without undue delay.
The below procedures are there to provide a framework for reporting and managing data security
breaches affecting personal or sensitive data held by the Company.
A personal data breach is defined as having the potential to affect the confidentiality, integrity or
availability of personal data held by the Company in any format. Such breaches may happen for any
number of reasons including:
 The disclosure of confidential data to unauthorised persons;
 Loss or theft of data and/or equipment on which data is stored;
 Inappropriate controls allowing for unauthorised use of information;
 Breaches in the Company’s IT systems and security;
 Unauthorised access to computer systems e.g. hacking;
 Viruses or other security attacks;
 Breaches of physical security where data is kept;
 Leaving IT equipment unattended allowing unauthorised access;
 Emails containing personal data sent in error to the wrong recipient.
11.1 Breach Detection and Internal Reporting

Where a privacy data breach is known to have occurred (or is suspected) any member of the
Company staff who becomes aware of this must, within 24 hours, alert the DPO via email. The
information that should be provided to the DPO by the relevant staff member includes:
 When the breach occurred (time and date);
 Description of the breach (type of personal information involved);
 Cause of breach (if known) and how the breach was discovered;
 Extent of the breach (how many individuals are affected);
 Which systems, if any, have been affected;
 Whether any corrective actions/measures have been taken to remedy the breach (or
suspected breach)
11.2 Investigation
Once notified of the suspected or potential breach, the DPO must investigate and establish if a data
breach has occurred, or is likely to have occurred, and assess the level of severity. The following
criteria may be used by the DPO to assess if a breach has occurred:
 Whether personal data is involved;
 Whether the personal data is of a sensitive nature;
 Whether there has been unauthorised access to personal information, or unauthorised
disclosure of personal data or loss of data where access is likely to occur.
The following criteria can be used to assess the severity of the data breach:
 The type and extent of personal information breached;
 Whether multiple individuals have been affected;
 The persons or type of persons who now have access to the data;
 Whether there is (or could be) a real risk of serious harm to the affected individuals, which
could include, but is not limited to, physical, physiological, emotional, economic/financial or
harm to reputation;
Depending on the outcome of the above investigation, the DPO will issue immediate remedial
instructions to manage the data breach, depending on the nature and severity. This may include
ensuing that immediate corrective action is taken, if this has not yet occurred. Such action may
include retrieval or recovery or data, ceasing unauthorised actions or shutting down/isolating the
affected system;
11.3 Breach Reporting and Notification
Where it is confirmed by the DPO that there is a reportable breach of the GDPR, unless the data was
anonymised or encrypted, the DPO will immediately write to the relevant competent authority
within 72 hours or as soon as practicable of the identified breach. Notification will include:
 The specific breach of the GDPR;
 How the breach was identified;
 The impact on the data subject and any other data subjects;
 Action being taken to remedy the breach; and
 Any request for advice on further actions.
The DPO may decide, depending on the severity of the breach and the potential harm it may cause
the data subject, to make notification to the affected data subjects. Such notification will likely
 Nature of the breach of the GDPR;
 The contact details of the DPO or his/her alternate;
 Potential consequences of the data breach; and,
 Action being taken by the data controller to take corrective action.
The DPO will not contact the data subject if it is determined that:
 The Company has implemented appropriate technical and organisational protection
measures that render the personal data unintelligible to any person who is not authorised to
access it;
 The Company has taken subsequent measures which ensure that the high risk to the rights
and freedoms of data subjects are not affected: and,
 It would involve a disproportionate effort.
Following this notification, the DPO will ensure to identify lessons learnt and remedial action that
can be taken to reduce the likelihood of recurrence, this may include a review of policies, processes
and/or refresher training.
11.4 Record Keeping
The Company will maintain a Data Breach Register which will include the following information:
 Date of breach;
 Nature of breach;
 Impact on data subject;
 Is it a reportable event to the ICO;
 Is it a reportable event to the data subject;
 Action taken to resolve.
The Company will document all potential breaches regardless of whether a decision to report the
breaches is made.
The responsible person for managing breaches will lie with the Company’s DPO who in turn will
ensure sufficient training of the Company’s staff. The Company staff must be aware of how to
escalate security incidents to the DPO.
12. Training
The DPO or his/her alternate will provide training on an annual basis or as required to all employees
in accordance with GDPR.

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CFDs are complex instruments and come with high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IMPORTANT NOTICE – RENOUNCEMENT OF AUTHORISATION We would like to inform you that the Company had decided, under its own initiative, to renounce its CIF license with authorization number 174/12 as of April 21st 2021. Therefore, starting April 21st 2021 and thereafter, the Company will not accept any new clients and existing clients will not be able to trade on their account or to enter any positions unrelated to the closing/termination of their open positions. Clients who have eligible funds in their account, are kindly requested to send a withdrawal request at and will be refunded the full amount of their eligible funds (in accordance with the Company’s Terms and Conditions). For further information, contact us on .