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Disclosure To Clients In Terms Of The Protection Of Personal Information Act

Iza Wealth (Pty) Ltd is a Financial Services Provider functioning within the Financial Services Industry and is committed to protecting the personal information of its clients.

Iza Wealth (Pty) Ltd guarantees its commitment to protect the privacy of their clients and will ensure that their personal information is used appropriately, transparently, securely and in accordance with the applicable laws. Iza Wealth (Pty) Ltd will at all times maintain appropriate levels of security and privacy of personal information about current, past and prospective clients.

Section 9 of POPI determines that personal information may only be processed if, given the purpose for which it is processed, it is adequate, relevant and not excessive. Iza Wealth (Pty) Ltd collects and processes client’s personal information. Whenever possible Iza Wealth (Pty) Ltd will inform the client of the information required and the information deemed optional.

Examples of personal information collected include, but is not limited to:

  • Client’s identity number, name, surname, address, marital status
  • Information regarding the client’s residence, business, assets and banking details
  • Any other information that might be required in order to address the client’s needs

Iza Wealth (Pty) Ltd aims to have agreements in place with product suppliers and other third party providers to ensure a mutual understanding with regard to the protection of the client’s personal information.

Where appropriate, Iza Wealth (Pty) Ltd will ensure that its clients are made aware of the rights conferred upon them as data subjects Iza Wealth (Pty) Ltd will ensure that it gives effect to the following rights:

  • The Right to Access Personal Information
  • The Right to have Personal Information Corrected or Deleted
  • The Right to Object to the Processing of Personal Information
  • The Right to Object to Direct Marketing
  • The Right to Complain to the Information Regulator
  • The Right to be Informed
Iza Wealth Associates
Iza Wealth Our Portfolio

The client’s personal information will only be used for the purpose for which it was collected and agreed upon. This may include:

  • Providing products or services to the client
  • For the purpose of underwriting
  • Assessing and processing claims
  • Confirming, amending and verifying customer’s detail
  • Gathering of claims history
  • For the detection and prevention of fraud, crime, money laundering or other similar malpractices
  • In connection with legal proceedings
  • To comply with legal and regulatory requirements or when it is otherwise sanctioned by law

Section 10 of POPI determines that personal information may only be processed if certain conditions as noted below have been met:

  • The client has provided consent for the processing to information
  • The processing complies with the obligations imposed by law on Iza Wealth (Pty) Ltd
  • The Financial Advisory and Intermediary Services Act (FAIS) requires Financial Service Providers (FSPs) to conduct a needs analysis and obtain information from the client
  • Processing the information protects a legitimate interest of the client
Iza Wealth Estate Planning

Iza Wealth (Pty) Ltd may disclose a client’s personal information to any company they are contracted with or their subsidiaries or any third-party service and product supplier whose services or products the client elected to use. These companies and third parties must comply with the confidentiality and privacy conditions as set out in the Act. Iza Wealth (Pty) Ltd may also disclose a client’s information where it has a duty or right to disclose in terms of applicable legislation, the law or where it may be deemed necessary in order to protect the rights of Iza Wealth (Pty) Ltd.

It is a requirement of POPI to adequately protect personal information. Iza Wealth (Pty) Ltd will continuously review its security controls and processes to ensure that personal information is secure.

Information Officer:

The POPI Act stipulates that an Information Officer is to be appointed.
This role will be fulfilled by John Rose.

The Information Officer has the following duties:

  • Developing, publishing and maintaining a POPI policy which addresses all relevant provisions of the POPI Act
  • Reviewing the Act and the periodic update thereof
  • Ensuring that POPI training is provided to new staff members
  • Ongoing training of existing staff members on POPI
  • Ensuring that periodic communication awareness on POPI takes place
  • Ensuring that Privacy Notices for internal and external purposes are developed and published
  • Handling of access to data requests
  • Approving unusual or controversial disclosures of personal data
  • Approving Data Operators
  • Overseeing and approving appropriate policies and controls for ensuring Information Quality
  • Ensuring that the proper security safeguards are in place
  • Handling all aspects of relationship with the Regulator as foreseen in POPI Act

The 8 principles:

The POPI Act provides a minimum of 8 requirements for businesses to comply with.

Iza Wealth (Pty) Ltd will incorporate these principles into the business in order to comply.

  1. Accountability: Iza Wealth (Pty) Ltd is accountable for complying with the measures prescribed in the Act.
  2. Processing Limitations: Iza Wealth (Pty) Ltd will only collect information which are required and for the purpose for which it is required.
  3. Purpose Specifications: Iza Wealth (Pty) Ltd will only collect information for legitimate and lawful purposes and will at no stage retain the information for longer than the required period, unless prescribed by law to do so
  4. Further Processing Limitations: Iza Wealth (Pty) Ltd will in no way process information in a manner that is incompatible with the purpose for which it was collected. At no stage will any personal information be disclosed or transferred to a third party without the consent of the data subject.
  5. Information quality: Steps will be taken to ensure that personal information is complete, accurate and updated where necessary.
  6. Openness: The data subject will at all times be informed of the reason for the collection of personal data as well as the purpose of its use.
  7. Security Safeguards: Iza Wealth (Pty) Ltd will at all times secure the integrity and confidentiality of personal information in its possession by taking appropriate measures to prevent loss, damage and unlawful access.
  8. Data Subject Participation: The data subject will at all times be entitled to an explanation of the request for personal information and allowed to request information from Iza Wealth (Pty) Ltd. This will include that the data subject may request deletion or correction of information.

Our responsibilities:

The Iza Wealth (Pty) Ltd owners and management are ultimately responsible for ensuring that Iza Wealth (Pty) Ltd meets its legal obligations in terms of POPIA but they may delegate some of its responsibilities in terms of POPIA to one or more capable individuals within the senior management structure. The owners are responsible for ensuring that:

  • Iza Wealth (Pty) Ltd appoints an Information Officer.
  • All persons responsible for the processing of personal information on behalf of Iza Wealth (Pty) Ltd:
    • are appropriately trained and supervised to do so,
    • understand that they are contractually obligated to protect the personal information they come into contact with, and
    • are aware that a wilful or negligent breach of this policy’s processes and procedures may lead to disciplinary action being taken against them.
  • Data subjects who want to make enquires about their personal information are made aware of the procedure that needs to be followed should they wish to do so.
  • The scheduling of a periodic POPI Audit in order to accurately assess and review the ways in which Iza Wealth (Pty) Ltd collects, holds, uses, shares, discloses, destroys and processes personal information.

Employees and other persons acting on behalf of Iza Wealth (Pty) Ltd will, during the course of the performance of their services, gain access to and become acquainted with the personal information of certain clients, suppliers and other employees. Employees and other persons acting on behalf of Iza Wealth (Pty) Ltd are required to treat personal information as a confidential business asset and to respect the privacy of data subjects.

Employees and other persons acting on behalf of Iza Wealth (Pty) Ltd may not directly or indirectly, utilise, disclose or make public in any manner to any person or third party, either within Iza Wealth (Pty) Ltd or externally, any personal information, unless such information is already publicly known or the disclosure is necessary in order for the employee or person to perform his or her duties. Employees and other persons acting on behalf of Iza Wealth (Pty) Ltd must request assistance from the Information Officer if they are unsure about any aspect related to the protection of a data subject’s personal information.

Data subjects have the right to complain in instances where any of their rights under POPIA have been infringed upon. Iza Wealth (Pty) Ltd takes all complaints very seriously and will address all POPI related complaints in accordance with the following procedure:

  • POPI complaints must be submitted to Iza Wealth (Pty) Ltd in writing. Where so required, the Information Officer will provide the data subject with a “POPI Complaint Form”.
  • Where the complaint has been received by any person other than the Information Officer, that person will ensure that the full details of the complaint reach the Information Officer within 1 working day.
  • The Information Officer will provide the complainant with a written acknowledgement of receipt of the complaint within 2 working days.
  • The Information Officer will carefully consider the complaint and address the complainant’s concerns in an amicable manner. In considering the complaint, the Information Officer will endeavour to resolve the complaint in a fair manner and in accordance with the principles outlined in POPIA.
  • The Information Officer must also determine whether the complaint relates to an error or breach of confidentiality that has occurred and which may have a wider impact on Iza Wealth (Pty) Ltd data subjects.
  • Where the Information Officer has reason to believe that the personal information of data subjects has been accessed or acquired by an unauthorised person, the Information Officer will consult with Iza Wealth (Pty) Ltd members where after the affected data subjects and the Information Regulator will be informed of this breach.
  • The Information Officer will revert to the complainant with a proposed solution with the option of escalating the complaint to Iza Wealth (Pty) Ltd members within 10 working days of receipt of the complaint. In all instances, Iza Wealth (Pty) Ltd will provide reasons for any decisions taken and communicate any anticipated deviation from the specified timelines.
  • The Information Officer’s response to the data subject may comprise any of the following:
    • A suggested remedy for the complaint,
    • A dismissal of the complaint and the reasons as to why it was dismissed,
    • An apology (if applicable) and any disciplinary action that has been taken against any employees involved.
  • Where the data subject is not satisfied with the Information Officer’s suggested remedies, the data subject has the right to complain to the Information Regulator.
  • The Information Officer will review the complaints process to assess the effectiveness of the procedure on a periodic basis and to improve the procedure where it is found wanting. The reason for any complaints will also be reviewed to ensure the avoidance of occurrences giving rise to POPI related complaints.

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