Data Protection Policy

You must read this policy because it gives important information about:

  • what is meant by personal data (or information) and special category data (or information);
  • how we gather, use and (ultimately) delete personal data and special category data in accordance with the data protection principles.
  • where more detailed privacy information can be found, eg about the personal data we gather and use about you, how it is used, stored, and transferred, for what purposes, the steps taken to keep that data secure and for how long it is kept.
  • your rights and obligations in relation to data protection; and
  • the consequences of failure to comply with this policy.

1. Introduction

1.1 Spectra Markets obtains, keeps, and uses personal data (also referred to as personal information) of its employees, clients, subscribers, and website users for a number of specific lawful purposes, as set out in the Company’s Privacy Policy available on the company’s website.

1.2 This policy sets out how we comply with our data protection obligations and seek to protect personal data relating to our workforce. Its purpose is also to ensure that staff understand and comply with the rules governing the collection, use and deletion of personal data to which they may have access in the course of their work.

1.3 We are committed to complying with our data protection obligations, and to being concise, clear, and transparent about how we obtain and use personal data relating to our workforce, and how (and when) we delete that data once it is no longer required.

1.4 Spectra Markets data protection officer, Martin Pett, is responsible for informing and advising the Company and its staff on its data protection obligations, and for monitoring compliance with those obligations and with the Company’s policies. If you have any questions or comments about the content of this policy or if you need further information, you should contact the data protection officer [email protected]

2. Scope

2.1 This policy applies to the personal data of employees, clients, subscribers, and website users.

2.2 We will review and update this policy at a minimum annually and in accordance with our data protection obligations. Any new or modified policy will be approved internally prior to release.

3. Definitions

criminal records data means personal data relating to criminal convictions and offences, allegations, proceedings, and related security measures;
data breach means a breach of security leading to the accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to, personal data;
data subject means the individual to whom the personal data relates;
personal data (sometimes known as personal information) means data relating to an individual who can be identified (directly or indirectly) from that data;
processing data means obtaining, recording, organising, storing, amending, retrieving, disclosing and/or destroying data, or using or doing anything with it;
pseudonymised means the process by which personal data is processed in such a way that it cannot be used to identify an individual without the use of additional data, which is kept separately and subject to technical and organisational measures to ensure that the personal data cannot be attributed to an identifiable individual;
special category data (sometimes known as ‘special categories of personal data’, ‘sensitive personal data’ or ‘sensitive personal information’) means personal data about an individual’s race, ethnic origin, political opinions, religious or philosophical beliefs, trade union membership (or non-membership), genetics data, biometric data (where used to identify an individual) and data concerning an individual’s health, sex life or sexual orientation.

4. Data protection principles

4.1 The Company will comply with the following data protection principles when processing personal data:

4.1.1 we will process personal data lawfully, fairly and in a transparent

4.1.2 we will collect personal data for specified, explicit and legitimate purposes only, and will not process it in a way that is incompatible with those legitimate

4.1.3 we will only process the personal data that is adequate, relevant, and necessary for the relevant

4.1.4 we will keep accurate and up to date personal data and take reasonable steps to ensure that inaccurate personal data are corrected or deleted without

4.1.5 we will keep personal data in a form which permits identification of data subjects for no longer than is necessary for the purposes for which the data are processed; and

4.1.6 we will take appropriate technical and organisational measures to ensure that personal data are kept secure and protected against unauthorised or unlawful processing, and against accidental loss, destruction, or damage.

5. Basis for processing personal data

5.1 In relation to any processing activity, Spectra Markets will, before the processing starts for the first time, and then regularly while it continues:

5.1.1 review the purposes of the particular processing activity, and select the most appropriate lawful basis (or bases) for that processing, i.e.:

    • that the data subject has consented to the
    • that the processing is necessary for the performance of a contract to which the data subject is party or in order to take steps at the request of the data subject prior to entering into a
    • that the processing is necessary for compliance with a legal obligation to which the Company is
    • that the processing is necessary for the protection of the vital interests of the data subject or another natural
    • that the processing is necessary for the performance of a task carried out in the public interest or exercise of official
    • that the processing is necessary for the purposes of legitimate interests of the Company or a third party, except where those interests are overridden by the interests of fundamental rights and freedoms of the data subject—see clause 2 below.

5.1.2 except where the processing is based on consent, satisfy us that the processing is necessary for the purpose of the relevant lawful basis (i.e. that there is no other reasonable way to achieve that purpose).

5.1.3 document our decision as to which lawful basis applies, to help demonstrate our compliance with the data protection

5.1.4 include information about both the purposes of the processing and the lawful basis for it in our relevant privacy notice(s).

5.1.5 where ‘special category data is processed, also identify a lawful special condition for processing that data (see paragraph 2.2 below), and document it; and

5.1.6 where criminal records data is processed, also identify a lawful condition for processing that data, and document it.

5.2 When determining whether the Company’s legitimate interests are the most appropriate basis for lawful processing, we will:

5.2.1 conduct a legitimate interest’s assessment (LIA) and keep a record of it, to ensure that we can justify our

5.2.2 if the LIA identifies a significant privacy impact, consider whether we also need to conduct a data protection impact assessment (DPIA).

5.2.3 keep the LIA under review, and repeat it if circumstances change; and

5.2.4 include information about our legitimate interests in our relevant privacy notice.

6. Special category data

6.1 Special category data is sometimes referred to as ‘sensitive personal data’ or ‘sensitive personal information’.

6.2 Spectra Markets may from time to time need to process special category data. We will only process special category data if:

6.2.1 we have a lawful basis for doing so as set out in paragraph 1.1 above, eg it is necessary for the performance of the employment contract, to comply with the Company’s legal obligations or for the purposes of the Company’s legitimate interests; and

6.2.2 one of the special conditions for processing special category data applies, eg:

    • the data subject has given explicit
    • the processing is necessary for the purposes of exercising the employment law rights or obligations of the Company or the data
    • the processing is necessary to protect the data subject’s vital interests, and the data subject is physically incapable of giving
    • processing relates to personal data which are manifestly made public by the data
    • the processing is necessary for the establishment, exercise, or defence of legal claims; or
    • the processing is necessary for reasons of substantial public interest.

6.3 Before processing any special category data, staff must notify the data protection officer of the proposed processing, in order that the data protection officer may assess whether the processing complies with the criteria noted above.

6.4 Special category data will not be processed until:

6.4.1 the assessment referred to in paragraph 3 has taken place; and

6.4.2 the individual has been properly informed (by way of a privacy notice or otherwise) of the nature of the processing, the purposes for which it is being carried out and the legal basis for it.

6.5 Spectra Markets will not carry out automated decision-making (including profiling) based on any individual’s special category data.

6.6 Spectra Markets Privacy Policy will contain all the types of special category data that the Company processes, what it is used for and the lawful basis for the processing.

7. Data protection impact assessments (DPIAs)

7.1 Where processing is likely to result in a high risk to an individual’s data protection rights (eg where the Company is planning to use a new form of technology), we will, before commencing the processing, carry out a DPIA to assess:

7.1.1 whether the processing is necessary and proportionate in relation to its

7.1.2 the risks to individuals; and

7.1.3 what measures can be put in place to address those risks and protect personal data.

7.2 Before any new form of technology is introduced, the manager responsible should contact the data protection officer and any other relevant stakeholders in order that a DPIA can be carried out.

7.3 During the course of any DPIA, management will seek the advice of the data protection officer and any other relevant stakeholders.

8. Documentation and records

8.1 We will keep written records of processing activities which are high risk, i.e. which may result in a risk to individuals’ rights and freedoms or involve special category data or criminal records data, including:

8.1.1 the name and details of the employer’s organisation (and where applicable, of other controllers, the employer’s representative and DPO).

8.1.2 the purposes of the

8.1.3 a description of the categories of individuals and categories of personal

8.1.4 categories of recipients of personal

8.1.5 where relevant, details of transfers to third countries, including documentation of the transfer mechanism safeguards in place, Where possible Spectra Markets will rely on equivalency agreements, Binding Corporate Rules (BCR) and Standard Contractual Clauses (SCCs).

8.1.6 where possible, retention schedules; and

8.1.7 where possible, a description of technical and organisational security measures.

8.2 As part of our record of processing activities we document, or link to documentation, on:

8.2.1 information required for privacy

8.2.2 records of

8.2.3 controller-processor

8.2.4 the location of personal

8.2.5 DPIAs; and

8.2.6 records of data breaches.

8.3 If we process special category data or criminal records data, we will keep written records of:

8.3.1 the relevant purpose(s) for which the processing takes place, including (where required) why it is necessary for that

8.3.2 the lawful basis for our processing; and

8.3.3 whether we retain and erase the personal data in accordance with our policy document and, if not, the reasons for not following our policy.

8.4 We will conduct regular reviews of the personal data we process and update our documentation accordingly. This may include:

8.4.1 carrying out data audits to find out what personal data the Company

8.4.2 distributing questionnaires and talking to staff across the Company to get a more complete picture of our processing activities; and

8.4.3 reviewing our policies, procedures, contracts, and agreements to address areas such as retention, security, and data sharing.

9. Privacy notice

9.1 Spectra Markets has made available it’s privacy notices on its website and can be viewed at any time, informing you about the personal data that we collect and hold relating to you, how you can expect your personal data to be used and for what purposes.

9.2 We will take appropriate measures to provide information in privacy notices in a concise, transparent, intelligible, and easily accessible form, using clear and plain language.

10. Individual rights

10.1 You have the following rights in relation to your personal data:

10.1.1 to be informed about how, why and on what basis that data is processed—see the Company’s Privacy

10.1.2 to obtain confirmation that your data is being processed and to obtain access to it and certain other information, by making a data access request—see the Company’s data access request

10.1.3 to have data corrected if it is inaccurate or

10.1.4 to have data erased if it is no longer necessary for the purpose for which it was originally collected/processed, or if there are no overriding legitimate grounds for the processing (this is sometimes known as ‘the right to be forgotten’).

10.1.5 to restrict the processing of personal data where the accuracy of the data is contested, or the processing is unlawful (but you do not want the data to be erased), or where the employer no longer needs the personal data, but you require the data to establish, exercise or defend a legal claim; and

10.1.6 to restrict the processing of personal data temporarily where you do not think it is accurate (and the employer is verifying whether it is accurate), or where you have objected to the processing (and the employer is considering whether the organisation’s legitimate grounds override your interests).

10.2 If you wish to exercise any of the rights in paragraphs 1.3 to 10.1.6, please contact the data protection officer.

11. Individual obligations

11.1 Individuals are responsible for helping the Company keep their personal data up to date. You should let Spectra Markets know if the data you have provided to the us changes,

11.2 You should contact the data protection officer if you are concerned or suspect that one of the following has taken place (or is taking place or likely to take place):

11.2.1 processing of personal data without a lawful basis for its processing or, in the case of special category data, without one of the conditions in paragraph 2.2 being met.

11.2.2 any data breach as set out in paragraph 1 below.

11.2.3 access to personal data without the proper

11.2.4 personal data not kept or deleted

11.2.5 removal of personal data, or devices containing personal data (or which can be used to access it), from the Company’s premises without appropriate security measures being in

11.2.6 any other breach of this policy or of any of the data protection principles set out in paragraph 1 above.

12. Information security

12.1 The Company will use appropriate technical and organisational measures in accordance with the Company’s information security policy to keep personal data secure, and in particular to protect against unauthorised or unlawful processing and against accidental loss, destruction or damage. These may include:

12.1.1 making sure that, where possible, personal data is pseudonymised or

12.1.2 ensuring the ongoing confidentiality, integrity, availability and resilience of processing systems and

12.1.3 ensuring that, in the event of a physical or technical incident, availability and access to personal data can be restored in a timely manner; and

12.1.4 a process for regularly testing, assessing, and evaluating the effectiveness of technical and organisational measures for ensuring the security of the processing.

12.2 Where the Company uses external organisations to process personal data on its behalf, additional security arrangements need to be implemented in contracts with those organisations to safeguard the security of personal data. In particular, contracts with external organisations must provide that:

12.2.1 the organisation may act only on the written instructions of the

12.2.2 those processing the data are subject to a duty of

12.2.3 appropriate measures are taken to ensure the security of

12.2.4 sub-contractors are only engaged with the prior consent of the Company and under a written

12.2.5 the organisation will assist the Company in providing subject access and allowing individuals to exercise their rights in relation to data

12.2.6 the organisation will assist the Company in meeting its obligations in relation to the security of processing, the notification of data breaches and data protection impact

12.2.7 the organisation will delete or return all personal data to the Company as requested at the end of the contract; and

12.2.8 the organisation will submit to audits and inspections, provide the Company with whatever information it needs to ensure that they are both meeting their data protection obligations, and tell the Company immediately if it is asked to do something infringing data protection law.

12.3 Before any new agreement involving the processing of personal data by an external organisation is entered into, or an existing agreement is altered, the relevant staff must seek approval of its terms by the data protection officer.

13. Storage and retention of personal data

13.1 Personal data (and special category data) will be kept securely in accordance with the Company’s Information Security Policy.

13.2 Personal data (and special category data) should not be retained for any longer than necessary. The length of time over which data should be retained will depend upon the circumstances, including the reasons why the personal data was obtained. This is defined within the Company’s Data retention policy which set out the relevant retention period, or the criteria that should be used to determine the retention period.

13.3 Personal data (and special category data) that is no longer required will be deleted permanently from our information systems and any hard copies will be destroyed securely.

14. Data breaches

14.1 A data breach may take many different forms, for example:

14.1.1 loss or theft of data or equipment on which personal data is

14.1.2 unauthorised access to or use of personal data either by a member of staff or third

14.1.3 loss of data resulting from an equipment or systems (including hardware and software)

14.1.4 human error, such as accidental deletion or alteration of

14.1.5 unforeseen circumstances, such as a fire or

14.1.6 deliberate attacks on IT systems, such as hacking, viruses, or phishing scams; and

14.1.7 ‘blagging’ offences, where data is obtained by deceiving the organisation which holds it.

14.2 The Company will:

14.2.1 make the required report of a data breach to the relevant data protection authorities without undue delay and, where possible within the expected timeframes of becoming aware of it, if it is likely to result in a risk to the rights and freedoms of individuals; and

14.2.2 notify the affected individuals if a data breach is likely to result in a high risk to their rights and freedoms and notification is required by law.

15. International transfers

15.1 The Company may transfer personal data outside the USA or to international organisations on the basis that that country, territory or organisation is designated as having an adequate level of protection or that the organisation receiving the data has provided adequate safeguards by way of binding corporate rules or standard data protection clauses or of compliance with an approved code of conduct.

16. Training

The Company will ensure that staff are adequately trained regarding their data protection responsibilities. Individuals whose roles require regular access to personal data, or who are responsible for implementing this policy or responding to data access requests under this policy, will receive additional training to help them understand their duties and how to comply with them.

17. Consequences of failing to comply

17.1 The Company takes compliance with this policy very seriously. Failure to comply with the policy:

17.1.1 puts at risk the individuals whose personal data is being processed; and

17.1.2 carries the risk of significant civil and criminal sanctions for the individual and the Company; and

17.1.3 may, in some circumstances, amount to a criminal offence by the individual.

17.2 Because of the importance of this policy, an employee’s failure to comply with any requirement of it may lead to internal action being explored following our internal processes. If a non-employee breaches this policy, they may have their contract terminated with immediate effect.

17.2 If you have any questions or concerns about anything in this policy, do not hesitate to contact the data protection officer.