Privacy Policy

Introduction


Wilco LLC ("Wilco" or the "Company"),with registered address at Martiros Saryan Street, 26/2, Yerevan, 0002, Republic of Armenia, is a company incorporated and registered under legislation of the Republic of Armenia. WILCO is authorized and regulated under the license number 0008, issued by the Central Bank of the Republic of Armenia (the "CBA"). The objective of this policy is to present the Company’s obligations during the collection, processing and storing personal data the Law of the Republic of Armenia on Personal Data (the "Law"),as amended from time to time, and Regulation (EU) 2016/679 Of The European Parliament And Of The Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (“General Data Protection Regulation” or “GDPR”).



Our Commitment


Wilco LLC is committed to ensuring the security and protection of the personal information that we process, and to provide a compliant and consistent approach to data protection. We have an effective data protection program in place which complies with existing law and abides by the data protection principles. The Company recognizes its obligations in updating and expanding this program to meet the demands of the GDPR and the Law of the Republic of Armenia on Protection of Personal Data.

Wilco LLC is dedicated to safeguarding the personal information under our remit and has developed a data protection regime that is effective, fit for purpose and demonstrates an understanding of, and appreciation of the GDPR requirements.

This Privacy Policy concerns natural persons who are current or potential customers of the Company or act as authorised representatives of legal entities or natural persons which/who are current or potential customers of the Company or are the directors or beneficial owners of legal entities who are current or potential customers of the Company (hereinafter "You” and “Your” in the context of the personal data). This Privacy Policy concerns also natural persons who had such business relationships with the Company in the past.

Wilco LLC respects Your privacy and is committed to handling Your personal data with transparency and integrity. When processing personal data provided by You, the Company is subject to the provisions of the Law of the Republic of Armenia on Personal Data (the "Law"),as amended from time to time, and Regulation (EU) 2016/679 Of The European Parliament And Of The Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (“General Data Protection Regulation” or “GDPR”). Wilco LLC acts as a controller of Your personal data under GDPR, which means that it determines solely or jointly with others, the purposes and means of the processing of Your personal data (in alignment with GDPR Article 4(7) and RA Law HO-178-N Article 3(4) defining the Data Processor/Controller).



Collection Of Personal Data


For the purposes of this Policy, 'personal data' means any information relating to You that identifies You, directly or indirectly (GDPR Article 4(1); RA Law HO-178-N Article 3(1)). 'Processing' means any operation or set of operations which is performed on personal data, such as collection, recording, storage, use, disclosure, erasure or destruction (GDPR Article 4(2); RA Law HO-178-N Article 3(2)).

To establish a business relationship with Wilco LLC, the following personal data is required from You:

● Personal information such as Your name, date and place of birth, citizenship, nationality, home address, passport/ID number, FATCA/CRS information (tax residency, tax identification number),contact details (telephone, email),bank account details, occupation and information on whether You hold/held a prominent public function (for PEPs);
● Financial information such as Your income, source of funds and investment objectives;
● Documents that verify Your identity and residency such as an international passport or national ID and utility bills or bank statements.
We may also collect and process personal data from public sources (e.g. the Department of Registrar of Companies and Official Receiver, the press, the internet) as well as from risk management suites such as the World Compliance database.



Legal Basis For The Processing Of Your Personal Data


The protection of Your privacy and personal information is of great importance to us. Your personal data is processed lawfully, fairly and in a transparent manner on the following bases:

For the performance of a contract

The processing of Your personal data is necessary for the performance of a contract, namely the client agreements for the performance of investment services to which You are party, or in order to take steps at Your request prior to entering into an agreement (GDPR Article 6(1)(b); RA Law HO-178-N Article 7). To render investment services to You and administer our relationship, we need to collect certain information about Your identity, financial background and investment objectives.


For compliance with a legal obligation

The processing of Your personal data is necessary for compliance with the legal obligations emanating from several laws to which Wilco LLC is subject, e.g. the Republic Of Armenia Law On Combating Money Laundering And Terrorism Financing of 2008, The Law Of The Republic Of Armenia On Securities Market Regulation, the Law on protection of personal data of the Republic of Armenia and GDPT (GDPR Article 6(1)(c); RA Law HO-178-N Article 7). Compliance with these legal obligations requires, inter alia, identity verification procedures and processes, anti-money laundering controls, the retention of personal data for a certain period, the disclosure of personal data to the supervisory and other regulatory and public authorities.


For the purposes of the legitimate interests pursued by Wilco LLC

The processing of Your personal data is necessary for the purposes of the legitimate interests pursued by Wilco LLC, where those interests do not infringe Your interests, fundamental rights and freedoms (GDPR Article 6(1)(f)). These legitimate interests include business or commercial interests and examples of relevant processing activities include preparing our defense in litigation procedures; preventing fraud and money laundering activities; managing business and further developing and marketing of products and services.



Your Obligation To Provide Your Personal Data


The provision of Your personal data is a requirement necessary to enter a contract with Wilco LLC. As a client of the Company, You will have a statutory and contractual obligation to provide and keep up to date and accurate the personal data set out in this Privacy Policy (in compliance with GDPR Article 13(2)(e)). Failure to provide such data will not allow us to commence or continue our business relationship, as compliance with our legal obligations will be deemed impossible.



Categories Of Recipients Of Your Personal Data


During the performance of our contractual and statutory obligations and for legitimate business purposes, Your personal data may be disclosed to:

● Supervisory and other regulatory and public authorities, upon request or where required. Some examples are the RA Government, the Central Bank of the Republic of Armenia and criminal prosecution authorities.
● Auditors, lawyers, consultants and other outside professional advisors of Wilco LLC, subject to confidentiality agreements.
● Third party processors such as payment services providers, companies who assist us with the effective provision of our services to You by offering technological expertise, solutions and support, file storage and records management companies.
All data processors appointed by us to process personal data on our behalf must comply with the provisions and requirements of the GDPR (GDPR Article 28) and the Law of the Republic of Armenia on Protection of Personal Data (RA Law HO-178-N Article 14, "Authorised Person").


International Transfer Of Personal Data


Your personal data may be transferred to third countries (i.e. countries outside the European Economic Area or outside the territory of the Republic of Armenia),to recipients mentioned above, in connection with the purposes set out in this Privacy Policy. We may transfer Your personal data to countries that may have different laws and data protection compliance requirements; however, processors in third countries are obliged to comply with the European data protection standards when processing Your personal data.


Where we transfer Your personal data to third countries, we do it on the basis of standard contractual clauses adopted by the European Commission (GDPR Chapter V),and in structural compliance with the conditions for cross-border data transfers established under Article 26 of the RA Law on Protection of Personal Data.



Principles Relating To The Processing Of Your Personal Data

● We have implemented appropriate technical and organisational measures to ensure appropriate security of Your personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage (GDPR Article 5(1)(f) & Article 32; RA Law HO-178-N Article 19).
● We take reasonable steps to ensure that Your personal data that we process are accurate and, where necessary, kept up to date (GDPR Article 5(1)(d)). From time to time, we may ask You to confirm the accuracy of Your personal data.
● We take every reasonable step to ensure that personal data that are inaccurate, having regard to the purposes for which they are processed, are erased or rectified without delay.
● We also make sure that all personal data we collect are adequate, relevant and limited to what is necessary in relation to the purposes for which they are processed (GDPR Article 5(1)(c) "Data Minimization"; RA Law HO-178-N Article 5(2)).
Period For Which Your Personal Data Will Be Stored

We will keep Your personal data for the duration of our business relationship and for 5 (five) years after the termination of our business relationship (the retention period aligned with standard RA Anti-Money Laundering regulatory baselines and GDPR Article 5(1)(e)) unless otherwise requested by a competent authority, in line with the provisions of the Republic of Armenia legislation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.

We may keep Your data for longer if we cannot delete it for legal or regulatory reasons. In particular, the retention of data is not limited in time in the case of pending legal proceedings or an investigation initiated by a public authority, provided that in each case the Company has been informed of the pending legal proceedings or the investigation initiated by a public authority within the retention period described hereinabove (RA Law HO-178-N Article 5(5)).


Your Rights


You have the following rights regarding Your personal data we control and process:

● The right to request access to, or copies of, Your personal data, together with information regarding the processing of those personal data (GDPR Article 15; RA Law HO-178-N Article 15).
● The right to request rectification of any inaccurate personal data concerning You (GDPR Article 16; RA Law HO-178-N Article 15).
● The right to request, on legitimate grounds and where there is no good reason for us continuing to process it, erasure of Your personal data (GDPR Article 17; RA Law HO-178-N Article 15).
● The right to object, on grounds relating to Your particular situation, to the processing of Your personal data which is based on a legitimate interest pursued by Wilco LLC. The Company shall no longer process Your personal data, unless it demonstrates compelling legitimate grounds for the processing, which override Your interests, rights and freedom or for the establishment, exercise or defence of legal claims (GDPR Article 21). You also have the right to object where Your personal data are processed for direct marketing purposes and the Company shall stop the processing of Your personal data for such purposes.
● The right to request restriction of processing of Your personal data where one of the following applies:
1. Your personal data is not accurate and we need to stop processing it until it verifies the data.
2. Your personal data has been used unlawfully.
3. The Company no longer needs Your personal data for the purposes of the processing, but You want us to keep it for use in possible legal claims.
4. You have already objected to the processing of Your personal data and You are waiting for the Company to confirm if it has legitimate grounds for the processing of Your data (GDPR Article 18; RA Law HO-178-N Article 15(4) regarding temporary blocking).
● The right to have Your personal data transferred to another controller, to the extent applicable (GDPR Article 20).
● The right to withdraw Your consent, where the Company processes Your personal data on the basis of Your consent. Please note that any withdrawal of consent shall not affect the lawfulness of processing based on consent before it was withdrawn by You (GDPR Article 7(3); RA Law HO-178-N Article 9(2)).
● The right to lodge a complaint regarding the processing of Your personal data by the Company. You can lodge Your complaint by completing our complaints form. If You feel that Your concerns have not been adequately addressed by the Company, You have the right to lodge a complaint with the Personal data protection agency of the Republic of Armenia (GDPR Article 77; RA Law HO-178-N Article 24). You can find information about submitting a complaint on their website https://www.pdpa.am/en.


Direct Marketing


By accepting this Privacy Policy, you provide your consent for the Company to use your personal data for communication related to additional services under the legitimate interests by the Company. WILCO may process Your personal data to contact You, primarily by email, in order to provide You with information concerning products and services that may be of interest to You. Please note that in accordance with the applicable law, the processing of personal data for direct marketing purposes may be regarded as carried out for a legitimate interest pursued by the Company.

However, if You do not wish to receive marketing communications from the Company, You can opt out at any time by contacting the Company or by sending an email to the Company's Data Protection Officer. After You opt out, the Company will not send You further promotional emails, but will continue to contact You to the extent necessary for the purposes of any services You have requested.


Changes To This Privacy Policy


At any time, the Company may amend this Privacy Policy. You will be notified about material changes, however You are encouraged to review this Privacy Policy periodically, to always be informed about how we are processing and protecting Your personal data.


Data Protection Officer (DPO)

Wilco LLC have designated ______________, as the Company's Data Protection Officer (DPO) (in structural alignment with GDPR Articles 37-39). If You have any questions regarding the Company's Privacy Policy or Your data, please contact [email protected].