Privacy Policy
1. Introduction
Riza Financial Pty Ltd. (“the Company”) trading under the brand Next Trade is a is a Company incorporated in the Republic of South Africa, with Company registration number 2021/910163/07 and registered address at OFFICE 029 1ST FLOOR 101 ISAIAH NTSHANGASE RD STAMFORD HILL DURBAN KWA-ZULU NATAL 4001. Next Trade is regulated and authorized by the International Financial Sector Conduct Authority (“FSCA”) in the Republic of South Africa as a Financial Service Provider (FSP No.52855 ) and is authorised to provide advice and intermediary service on derivative instruments. The Company acting in its capacity as a Financial Service Provider and in accordance with the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002).
2. Personal Information:
Personal information is gathered when an individual knowingly and willingly provides such information. The provision of Personal Information may be necessary to furnish an individual with additional services or to address any inquiries or requests pertaining to this service.
The Company expressly endeavours through this policy to safeguard an individual’s personal information against any form of prejudice, thereby ensuring compliance with the privacy laws prevailing in South Africa.
The Company collects, stores and appropriately utilizes the personal information furnished by a natural or legal person in order to facilitate the provision of financial services.
3. Use of Information:
The Company may collect various types of personal and other information from individuals. As an illustrative example, the ensuing enumeration comprises the distinct classifications of information that may necessitate disclosure:
- Business Representative information: This includes contact details such as email address, job title, function, postal address, and telephone number.
- Legal Representative information: Similar to the Business Representative, this includes contact data provided in the previous point.
- Client or Ultimate Beneficial Owner information: This category includes personal details such as:
- name,
- surname,
- Country of Residence and Residential Address
- employment status and employment information
- nationality and National Identity Document information
- degrees and qualifications, schools/universities attended, references,
- credit rating, employment history and information, media involvement, financial status information (e.g., bank statement, source of income and source of wealth, tax information), and Know Your Customer documentation (e.g., identity card, power of attorney).
The information collected serves multiple purposes, fulfilling various objectives such as:
- Account Opening: The information collected are required in order to open a client account
- Know Your Client and Client Due Diligence Procedures: The Company needs to collect information in order to comply with the KYC and CDD obligations of the Company coming from the AML legislative framework.
- Assessing and processing claims: The Company may use the collected data to evaluate and handle claims in a thorough manner.
- Conducting credit reference searches or verification: The Company may perform credit checks or verifications to assess an individual’s creditworthiness.
- Payment Data: Information related to bank or payment accounts, as well as transaction details such as currency, location, and amount/value, may be collected for payment processing purposes.
- Credit assessment and credit management: The Company may utilize personal information for credit assessment and management activities.
- Claims history: Personal data may be used to maintain a record of an individual’s claims history.
- Fraud detection and prevention: The Company may employ the collected information to identify and prevent fraudulent activities, crime, money laundering or other malpractices.
- Market or customer satisfaction research: Personal data may be anonymized and used for conducting market research or assessing customer satisfaction.
- Audit and record keeping: The Company may retain personal information for audit and record-keeping purposes to ensure compliance with legal and regulatory requirements.
- Following an individual’s instructions: The Company may use personal data to adhere to an individual’s specific instruction.
- Informing individuals of services: Personal information may be used to communicate relevant services or updates to individuals.
- Matching the Company’s business to individual needs: The collected data may help the Company tailor its services to better suit the individual’s requirements.
It is important to note that personal information provided by individuals is used for the intended purpose. Specifically, the mentioned personal data is primarily utilized for conducting communications, entering into commercial agreements, complying with the company’s legal and regulatory obligations, fulfilling contracts and exercising and defending legal claims.
Copies of correspondence containing personal information are stored in archives for record-keeping and backup purposes only. The FSP does not share information with any third parties without an individual’s consent, except where required by law.
4. Security
Ensuring the security and protection of personal information is of paramount importance to the Company. While it is unfortunate that no data transmission over the Internet can be guaranteed to be completely secure, the Company is committed to taking all reasonable steps to safeguard the personal information submitted by individuals to the Company or through the Company’s online products and services.
To fulfil this commitment, the Company implements a range of comprehensive security measures. These measures encompass both technical and organizational aspects, designed to mitigate the risks associated with data transmission and storage. Technical safeguards include the use of advanced encryption protocols, firewalls, secure servers and industry-standard security software to protect against unauthorized access, data breaches, and other potential threats.
The Company may engage with other organisations to provide support services to the Company . Third Parties are obliged to respect the confidentiality of any personal information held by the FSP.
To ensure adherence to confidentiality of any personal information, all employees of the Company are bound by an employment contract that encompasses a confidentiality clause. This contractual obligation serves as a safeguard to prevent unauthorized disclosure of personal information.
Under normal circumstances, the Company maintains a steadfast commitment to safeguarding personal data and will refrain from divulging such information to any third parties. However, there are certain exceptional circumstances where the Company may be required to disclose personal information. These circumstances may include:
- Compliance with legal and regulatory requirements: The Company may be compelled to disclose personal information if it is mandated to do so by law or regulations imposed by relevant governing bodies. In such cases, the Company’s compliance with legal obligations takes precedence over the need to maintain confidentiality.
- Public interest: In exceptional cases where it is deemed to be in the public interest, the Company may disclose personal information. However, it should be noted that such instances are rare and only occur when necessary to protect the general welfare or safety of the public.
- Protection of rights: The Company may disclose personal information when it is necessary to safeguard its own legal rights. This includes situations where the Company needs to defend itself against legal claims or take appropriate actions to enforce its contractual agreements.
The Company endeavours to take all reasonable steps to keep secure any information which they hold about an individual and to keep this information accurate and up to date. If at any time, an individual discovers that information gathered about them is incorrect, they may contact the Company to have the information corrected.
5. Contact information:
Any questions relating to this Policy or the treatment of an individual’s personal data may be addressed to the Company’s Legal and Compliance Department at the following email addresses: [email protected].
