Data Protection

The Data Protection Act 1998 (DP Act) regulates the use of personal data – essentially any information about identifiable living individuals. The Firm is a data controller under the Act and must comply with its requirements. The records covered by the DP Act include all computer records.

The Act's eight principles establish enforceable standards for obtaining, holding, using or disclosing information. The Act also requires appropriate security arrangements to be in place to protect personal data and gives individuals the right to access personal information held about them.

As part of the Firm’s statutory obligations, it is required to register, or 'notify' the Information Commissioner annually of any processing of personal information. The notification covers all activities that involve processing personal information.

The Firm collects and uses certain types of information about customers, employees and other people it deals with such as suppliers. The firm is required to obtain information about customers as part of its due diligence and onboarding processes.

Individuals have the right to access their personal information (subject to certain exemptions) and may do this by completing a Subject Access Request Form. A charge of £10 is made for these requests.

The Firm regards the lawful and correct treatment of personal information as important to the achievement of its objectives and to the success of its operations. It therefore needs to ensure that it treats personal information lawfully and correctly. To this end, the Firm fully endorses and adheres to the Principles of data protection, as set out in the Data Protection Act 1998. The eight Principles require that personal information:

  • shall be processed fairly and lawfully and, in particular, shall not be processed unless specific conditions are met;
  • shall be obtained only for one or more specified and lawful purposes, and shall not be further processed in any manner incompatible with that purpose or those purposes;
  • shall be adequate, relevant and not excessive in relation to the purpose or purposes for which they are processed
  • shall be accurate and, where necessary, kept up to date;
  • shall not be kept for longer than is necessary for the specified purpose(s);
  • shall be processed in accordance with the rights of data subjects under the Act;
  • should be subject to appropriate technical and organisational measures to prevent the unauthorised or unlawful processing of personal data, or the accidental loss, destruction, or damage to personal data;
  • shall not be transferred to a country or territory outside the European Economic Area unless that country or territory ensures an adequate level of protection for the rights and freedoms of data subjects in relation to the processing of personal data.

Therefore, the Firm will, through appropriate management and strict application of criteria and controls:

  • observe fully conditions regarding the fair collection and use of information;
  • meet its legal obligations to specify the purposes for which information is used;
  • collect and process appropriate information only to the extent that it is needed to fulfil our operational needs or to comply with any legal requirements;
  • ensure the quality of information used;
  • ensure that the information is held for no longer than is necessary;
  • ensure that the rights of people about whom information is held can be fully exercised under the Act (i.e. the right to be informed that processing is being undertaken, to access one’s personal information; to prevent processing in certain circumstances, and to correct, rectify, block or erase information that is regarded as wrong information);
  • take appropriate technical and organisational security measures to safeguard personal information;
  • ensure that personal information is not transferred abroad without suitable safeguards. Money Transfers is a trading name of GAIN Capital Payments Ltd.

GAIN Capital Payments Ltd is a company registered in England No. 09688167. Registered Office: Park House, 16 Finsbury Circus, London, EC2M 7EB. Authorised & Regulated by the Financial Conduct Authority to carry out Payment Services under the Payment Services Regulations 2009; Firm No. 720701. Registered with HM Revenue & Customs as a Money Transmitter, MLR No 12849712.

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