Note for the Protection of personal information

The BNP Paribas Group highly values the protection of your personal information. For this reason, the BNP Paribas Group has adopted strong principles in terms of protecting personal information.

The present Note concerning the protection of personal information supplies you with clear and detailed information (“you” being clarified in more detail in section2) relating to the manner in which your personal information is protected by BNP Paribas Wealth Management Monaco SAM, a company incorporated in the Principality of Monaco and located at 15/17, avenue d’Ostende 98000 Monaco (hereafter “we”)..

As the entity responsible for the processing, our responsibility is to collect and process your personal information within the scope of our activities. The objective of the present Note regarding the protection of personal information is to inform you about the personal information we collect with regard to you, the reasons why we use it and share it, how long we retain it, what your rights are and how you may exercise them.

This Note applies to all products and services of BNP Paribas, and we may be required to supply you with additional information should the need arise, when you subscribe to a particular product or service.

 

  1. What personal information do we use? 

We collect and use the personal information, i.e. any information that identifies you or enables your identification, to the extent necessary, within the scope of our activities, and this including compliance with the relevant regulations and to offer quality products or personalised services.

Depending on the type of product and service we supply to you, we collect various types of personal information concerning you, including:

 

  • Identification information (e.g.: full name, first name, identity (I.D. card, passport number, etc…), nationality and place of birth, gender, photograph, signature;

  • Private or professional contact information (e.g.: mailing address, email address, telephone number);

  • Information pertaining to your family status and family life (e.g.: marital status, matrimonial regime, number and age of children, composition of the household);

  • Economic, financial and fiscal information (e.g.: tax identification number, tax status, country of residence, salary and other income, global wealth, solvency, origin of the assets, rating information);

  • Information regarding education and profession (level of studies, profession, name of employer where applicable, remuneration) within the framework of the socio-economic knowledge of our customers;

  • Banking and financial information (e.g.: bank details, products and services held and used, credit card number, cash transfers, value of your assets, stated investor profile, credit history, payment incidents);

  • Transactional information (e.g.: data regarding transactions including transfers, also including data regarding beneficiaries’ full names, addresses and contact details, data categorising income and expenditure);

  • Information relating to your habits and preferences (e.g.: data regarding your use of products and services to which you have subscribed with us)

  • Information collected during our communications with you on our premises (meeting records), on our internet site or apps (connection and tracking data such as cookies, connection to online services), during meetings, videoconferences, calls, conversations via instant messaging, emails, meetings, telephone conversations)

  • Information regarding the execution of contractual obligations with you or for you;

 

Information regarding your equipment (IP address, technical characteristics and unique identification data)

We may be required to collect the following sensitive information, provided we have obtained your previous and explicit consent:

  • Information regarding your health (for example, for the subscription of certain insurance contracts where it is necessary; the information is processed only if strictly necessary). 

 

  • We will never ask you to supply personal information regarding your racial or ethnic origins, political opinions, religious or philosophical beliefs, union membership, sexual orientation or information regarding administrative or penal proceedings or sanctions, unless this is required in accordance with a legal obligation. 

 

2. Who does this Note concern and who do we collect the personal information from

We collect this information directly from you, whether you are a customer or a prospect (when you contact us, visit our premises, consult our internet site or one of our apps, use our products and services, participate in a survey or an event we organise), but also information pertaining to other persons, indirectly. Indeed, we collect information regarding persons, even if they have no direct link to you, because they are linked to you, whether you are a customer or a prospect, for example: 

  • Members of your family;
  • Heirs or beneficiaries;
  • Co-borrower(s)/Guarantor(s);
  • Legal representative(s) and authorised person(s) of a legal entity who is a customer (mandate/power of attorney);
  • Principal(s) or beneficiary(ies) of a transaction carried out in relation to our customer;
  • Employee(s) of a company who is a client of the Bank, holder(s) of a card subscribed to by said company;
  • Beneficiary(ies) of a contract or an insurance policy or a trust;
  • Owner(s);
  • Beneficial owner(s);
  • Company shareholder(s);
  • Employee of our service providers and commercial partners. 

When you send us personal information pertaining to third parties such as those in the above list, please make sure to inform the relevant person that we process their personal information and invite them to read the present information Note regarding the protection of personal information, which is available on our internet site. We will also send them this information when possible. 

Lastly, we may also be required to collect information from: 

  • Other entities of the BNP Paribas Group;

  • Our customers;

  • Our business partners;

  • Publications/databases made available by official authorities or official third parties (e.g.: the Commerce & Industry Register, the “Journal de Monaco”, databases run by supervisory authorities of the financial sector);

  • Third parties such as data brokers who must ensure they collect the relevant data lawfully;

  • Internet sites/social network pages of legal entities containing information you have made public (for example, your own internet site or social media);

Databases made available to the public by third parties (e.g. the press).

 

3. Why and on what legal basis do we use your personal information? 

a. To comply with our legal and regulatory obligations

We use your personal information to comply with current regulations, including banking and financial regulations, in order to:

  • Monitor transactions and identify those that are irregular/unusual (e.g. when you withdraw a large amount of cash in a country in which you do not live);

  • Monitor and declare the risks (of a financial nature, of credit, of a legal nature, of compliance or reputation, of default, etc…) to which we and/or the BNP Paribas Group may be subject;

  • If necessary, record communications and telephone conversations (in order to comply with legal and regulatory obligations regarding financial markets), conversations via instant messaging, emails, faxes, etc…, notwithstanding any other use described hereafter;

  • Prevent and detect money laundering and the financing of terrorism and comply with any regulation pertaining to international sanctions and embargoes within the framework of our Know Your Customer procedure (to identify you, verify your identity and information concerning you against sanctions lists and determine your profile);

  • Detect and manage suspect requests and transactions:

  • Evaluate each customer’s adequacy and the appropriateness of the investment services provided, in accordance with regulations pertaining to financial instruments markets;

  • Book transactions for accounting purposes;

  • Prevent, detect and report the risks linked to the company’s social responsibility (CSR) and to sustainable development;

  • Detect and prevent corruption;

  • Share and report different transactions or requests, or reply to an official request from a legal, criminal, administrative, tax or financial authority, an arbitrator or a mediator, or more generally any authority, government or public body in charge of enforcing the law, in strict accordance with the prerogatives which are lawfully given to them, where applicable through any international cooperation agreement;

  • Ensure the security of the execution of payment services, including by authenticating the originator;

  • Communicate to payment service providers who act at your request, information on your accounts, transactions and their beneficiaries or respective originators. For example, payment services initiators and suppliers of information services on accounts also called “accounts aggregators”;

  • Fulfil our declaratory obligations to the ACPR (Autorité de Contrôle Prudentiel et de Résolution) and the CCAF (Commission de Contrôle des Activités Financières);

  • Assess your financial solvency;

  • Fulfil our duty of advice. 

The above list of legal provisions is not exhaustive and may evolve. 

b. To execute an agreement signed with you or to supply you upon request with pre-contractual information

The processing of your information enables us to offer you the services we agreed upon contractually with you. The purpose of the processing depends primarily on the banking products you require (for example accounts, loans, securities, deposits). Your information is used for analysing your needs, for advisory services, the management of your wealth and monitoring thereof, as well as transaction execution.

Therefore, we use your personal information to finalise and execute our contracts as well as to manage our relationship with you, including for the following purposes: 

  • Supply you with information regarding our products and services;

  • Assist you and answer your requests;

  • Assess whether we can offer you a product or service and, if appropriate, under what conditions;

  • Enable subscription to the products and services offered by BNP Paribas: 

  • Enable, within the scope of managing the client relationship, notably:

    • Management and execution of products and services such as payment instruments and the granting of loans;

    • Evaluation of your requirements and needs, your knowledge and experience, notably with regard to financial instruments;

    • Wealth management;

    • Distribution of insurance products, the insurer or service provider, depending on the case, being responsible for the processing required to set up the insurance transaction and the provision of service;

    • Security of the payment services you use.

Supply products or services to our corporate clients of whom you are an employee or client.

c. For the continuation of our legitimate interests

We use your personal information, including with regard to your transactions, for the following purposes:

  • Risk management

  • Storing proof of transactions or operations including in electronic format, and of telephone conversations recordings;

  • Manage, prevent and detect fraud, including by implementing lists of frauds naming the perpetrators of proven fraud;

  • Debt recovery,

  • Assert our legal rights and defend us in the event of litigation;

  • Prevent unpaid debt;

  • If necessary, record telephone conversations, conversations via instant messaging, emails, faxes, etc…

  • Personalisation of our commercial offering and that of other entities of the BNP Paribas Group in order to:

    • Improve the quality of our products or services,

    • Promote products or services which correspond to your situation and to your profile as well as electronically send you commercial offers on products or services similar to the ones you already hold (you may however oppose this in the provisions of section 7),

    • Identify your preferences and needs in order to provide a personalised commercial offering. This personalisation may be obtained thanks to:

      • Segmentation of our prospects and clients,

      • Analysis of your habits and preferences through our various communication channels (visit on our premises, emails or messages, connection to our internet sites, etc…)

      • Sharing your data with another BNP Paribas entity, in particular if you are a customer of said other entity or are likely to become one, mainly in order to accelerate the referral,

      • The correspondence between the products or services from which you already benefit and the data we hold with regard to you,

      • Analysis of the behaviour of current customers and the search of other persons who share the same characteristics for the purposes of prospecting.

  • Research & Development (R&D) activities for the purpose of developing statistics and models to:

    • Optimise and automate our operations processes,

    • Propose products and services enabling us to satisfy your needs as best as possible,

    • Adapt the distribution, content and fees of our products and services based on your profile,

    • Create new offerings,

    • Prevent potential security incidents, improve authentication of our customers and manage accesses,

    • Improve security management,

    • Improve risk and compliance management,

    • Improve the management, prevention and detection of fraud,

    • Improve the fight against money laundering and the financing of terrorism.

  • Objectives for the security and performance management of the IT systems, which include:

    • Manage information technology, including the infrastructure (e.g. shared platforms), business continuity and security (e.g. authentication of internet users)

  • More generally, we use your personal information to:

    • Send you information on our products and services,

    • Execute financial transactions such as the sale of receivables portfolios, securitisations, financing or refinancing of the BNP Paribas Group.

In all of these cases, our legitimate interest remains appropriate and we assure you that your interests or fundamental rights are preserved.

d. To respect your choice when we asked for your consent for specific processing 

In certain cases, consent is necessary to process your personal information, for example:

  • When the purposes described above lead to an automated decision with legal effects, concerning you or significantly affecting you, we will notify you separately of the underlying reason as well as of the importance and anticipated consequences of said processing:
  • If we proceed with processing, for purposes other than those described in section 3, we will inform you and, if required, will ask for your consent. 

If you have authorised the processing of your personal information for one purpose, we can legitimately process said information for said purposes. You are free to withdraw your consent at any time. 

Please note that said withdrawal is only valid for the future. The processing of data effected until the moment of withdrawal is not affected by the latter.


4. Who has access to your personal information?

In order to fulfil the above-mentioned purposes, we grand access to or communicate your personal information to: 

  • Entities of the BNP Paribas Group (for example, for you to benefit from our full range of products and services, or within the scope of technical support missions requiring secure remote access to some of our processing relying on computer apps) and entities in which BNP Paribas Group holds a participation;

  • Service providers and subcontractors who carry out activities on our behalf;

  • Authorised organisations and public institutions (for example, the ACPR, the SICCFIN, the Direction du Budget et du Trésor de la Principauté de Monaco, French or Monaco regulators, Monaco criminal legal authorities or financial guarantee body) in accordance with a legal obligation;

  • Other financial or credit institutions or financial institutions to which we send your personal information within the scope of our commercial relationship for the execution of contractual or pre-contractual obligations we have towards you or in the case of credit risk cover transactions, stake acquisition or takeover, sale of assets or businesses, transfer of debt or contracts (for example, correspondent bank, brokers, independent agents, intermediaries, assignee bank);

  • Other companies of the BNP Paribas Group for the purposes of risk management in accordance with legal obligations;

  • Certain regulated professions such as lawyers, notaries or auditors in order to defend our interests in court or comply with our legal obligations. 

5. Transfer of information outside the Principality of Monaco 

Generally, international transfers of personal information outside the Principality of Monaco can only take place on the condition that the country or body to which the transfer takes place has an adequate level of protection or, failing this, with the special authorisation of the Commission de Contrôle des Informations Nominatives (“CCIN”), the Monaco authority for the protection of personal information, based on a motivated request proving that all technical and organisational measures were taken to ensure the security and confidentiality of the transferred information, and strictly for the purposes of the Bank’s activity.

Transfers made by the Bank are compliant with Monegasque legislation. 

The adequacy of the level of protection offered by the third-party country must be measured with regard to all the circumstances relating to the transfer of personal information, including the nature of the information, the purpose, the duration of the proposed processing, the legal rules in place in the relevant country as well as professional rules and security measures applied there. 

Without prejudice to the above-mentioned provisions, the CCIN holds at the disposal of any concerned person the list of countries with an adequate level of protection, as mentioned in the above paragraph.


6. How long do we store your personal information? 

We store your personal information either for the duration necessary to compliance with applicable regulations, or for the duration defined by our operational obligations, such as efficient account management, efficient management of the client relationship, as well as to respond to legal petitioners or requests made by authorities or regulators. 

In a majority of cases, your personal information is stored for a duration of ten years, either as of the end of the business relationship when you are a client, or as of the last contact when you are a prospect. 

In the event that the information is no longer required for the execution of contractual or legal obligations, it will be periodically destroyed, unless it is still required for short-term continuation of the processing. Such a case may occur for the following reasons: 

  • Breach of storage obligations regarding tax matters
  • Breach of special requirements obliging us to store the personal information for an indeterminate duration, for example in anticipation of legal complaints.

7. What are your rights in terms of confidentiality? 

In accordance with applicable regulations, you have several rights: 

  • Right of information: you hold a right of information over your personal information. Indeed, you must be informed of the collection of your information and its purposes;

  • Right of access: you may obtain information regarding the processing of your personal information as well as a copy of said information, whatever the medium used;

  • Right of modification: you may modify, complete, clarify or actualise your personal information, if this is incorrect, incomplete, unclear or out of date. You may obtain a copy of the amended information free of charge;

  • Right of suppression: you may demand that all information pertaining to you be suppressed should it be incorrect, incomplete, unclear or out of date. You may also exercise this right when the collection, recording, communication or storage of your data is prohibited;

  • Right of opposition: you may oppose the processing of your personal information, for reasons linked to your particular situation. You have an absolute right, at any time, to oppose the processing of your personal information for purposes of commercial prospecting, including the profiling linked to said prospecting.

You may exercise the above-mentioned rights, by mail addressed to BNP Paribas Wealth Management Monaco, Service Réclamations, 15/17 Avenue d’Ostende, 98000 Monaco, who holds the list of processes in place and which may be consulted by any individual or corporate entity. Please enclose a copy of your identification card or passport, allowing us to identify you.

All automated processing of personal information is put in place upon receipt either of the authorisation of the president of the CCIN or the CCIN’s deliberation authorising the processing in accordance with the relevant legal regime.

In accordance with applicable regulations, you have the right to challenge the CCIN at the following address:

“Le Suffren”, Bloc B, 4ème étage

7, rue Suffren Reymond

98000 Monaco.

 

8. Modification of the personal information

We need you to supply us with the information necessary to our commercial relationship, and to enable us to comply with our pre-contractual, contractual and/or legal obligations. Without this information, we are likely to be unable to conclude a contract with you or to execute it.

We are obliged, in particular, in view of the legal requirements in terms of fighting money laundering, the financing of terrorism and corruption, to identify you by your legitimate documents prior to entering into a commercial relationship with you, and thus to collect and store, among others, your signature, citizenship, names, date and place of birth, as well as information contained in your identification document. We also have the obligation to obtain any information necessary regarding your socio-economic background as well as the object and nature of the considered relationship. All of this information must be kept up-to-date at all times.  In order for us to comply with these obligations, you are required to supply us with the compulsory information we request of you. In the event of any change during the commercial relationship, you are required to inform us immediately. Should you fail to supply us with the required information, it will not be possible for us to enter into and maintain a commercial relationship with you.


9. Do we use an automated decision-support system?

We do not use a fully automated decision-support system for entering into and maintaining the commercial relationship. If, in isolated cases and if authorised by law, we exceptionally use such a system, we will inform you separately, so long as the law requires us to. In this event, and in accordance with Monegasque law, we will ensure that you have the right to express your point of view or to re-examine your request.

10. Security note

We have put in place technical and organisational measures to prevent unauthorised or illegal access to the personal information you have supplied to us. As full security of the data cannot be guaranteed in the case of communication by electronic mail, instant messaging and other similar communication means, we recommend that you send any particularly confidential information by another secure means.

11. How can you access the modifications made to this information Note pertaining to your personal information?

In a world of constant technologic evolution, we will regularly update this information Note.

We invite you to consult the latest version of this document on our internet site or on your online space. We will inform you of any substantial modifications via our internet site or our usual communication methods (mailing, letters).


12. How do you contact us?

Should you have any questions regarding the use of your personal information covered by the present Note, you may contact us by mail at the following address:

BNP Paribas Wealth Management

Service Réclamations

15/17 Avenue d’Ostende, 98000 Monaco.