Personal Data Privacy Statement for BOC Asset Management Ltd


BOC Asset Management Ltd (referred to as ‘we’, ‘us’, ‘our’, ‘BOCAM’ or the ‘Asset Management Company ’) is committed to protecting your privacy and handling your data in an open and transparent manner. The personal data that we collect and process depends on the product or service requested and agreed in each case.

This privacy statement:

  • provides an overview of how  BOCAM collects and processes your personal data and tells you about your rights under the local data protection law and the EU General Data Protection Regulation (‘GDPR’),
  • is directed to natural persons who are either current or potential customers of the Asset Management Company, or are authorised representatives/agents or beneficial owners of legal entities or of natural persons which/who are current or potential customers of BOCAM,
  • contains information about when we share your personal data with members of the Bank of Cyprus Group ‘the Group’, and other third parties (for example, our service providers or suppliers),
  • is directed to natural persons who had such a business relationship with the Asset Management Company in the past.

In this privacy statement, your data is sometimes called “personal data” or “personal information”. We may also sometimes collectively refer to handling, collecting, protecting and storing your personal data or any such action as “processing” such personal data.

For the purposes of this statement, personal data shall mean any information relating to you which identifies or may identify you and which includes, for example, your name, address, identification number.

1. Who we are

BOC Asset Management Ltd is a Local UCITS Management Company licensed under The Cyprus Securities and Exchange Commission with registration number MC UCITS 5/78/2012 having its registered office at 154 Lemesou Ave., 2025 Strovolos, Nicosia.

If you have any questions, or want more details about how we use your personal information, you can contact our Data Protection Officer at 154, Lemesou Ave., 2025 Strovolos, email:

2. Subsidiary of the Bank of Cyprus Group

BOCAM is part of the Bank of Cyprus Group.  BOCAM and each entity of the Group have its own separate privacy statement.  All entities maintain their own websites that may be linked to the Bank of Cyprus website.  If you are interested in learning about how other entities or Bank of Cyprus processes your personal data, please refer to their corresponding privacy statements which may be found on their particular websites.

3. What personal date we process and where we collect it from

We collect and process different types of personal data which we receive from our customers (potential and current) in person or via their representative, in the context of our business relationship.

We may also collect and process personal data which we lawfully obtain not only from you but from other entities within the Bank of Cyprus Group, public authorities and companies that introduce you to us.

We may also collect and process personal data from publicly available sources (e.g. the Department of Registrar of Companies, the press, media and the Internet) which we lawfully obtain and we are permitted to process.

When we agree to provide products and services to you or if you are a prospective customer or a legal entity you represent or beneficially own or an authorized representative/agent, the relevant personal data which we collect and process may include:

In the context of providing our services such as Discretionary Portfolio Management, Investment Advise and or Fund Services (eg. Administration)

Name, address, contact details (telephone, email), identification data, date, place of birth (city and country), marital status, employed/self-employed, if you hold/held a prominent public function (for PEPs), knowledge and experience of investments in shares/funds, investment objectives, personal objectives, financial situation, number of dependent children, other personal investments and investment income, due diligence watchlist eg. Worldcheck or eNamechecker, employment position, FATCA/CRS (Foreign Account Tax Compliance Act / Common Reporting Standard) information.

4. Whether you have an obligation to provide us with your personal data

In order that we may be in a position to proceed with a business relationship with you, you must provide your personal data to us which are necessary for the required commencement and execution of a business relationship and the performance of our contractual obligations. We are furthermore obligated to collect such personal data given the provisions of the money laundering law which require that we verify your identity before we enter into a contract or a business relationship with you or the legal entity for which you are the authorized representative / agent or beneficial owner. You must, therefore, provide us at least with your identity card/passport, your full name, place of birth (city and country), and your residential address so that we may comply with our statutory obligation as mentioned above.

Kindly note that if you do not provide us with the required data, then we will not be allowed to commence or continue our business relationship either to you as an individual or as the authorized representative/agent or beneficial owner of a legal entity.

5. Why we process your personal data and on what legal basis

As mentioned earlier we are committed to protecting your privacy and handling your data in an open and transparent manner and as such we process your personal data in accordance with the GDPR and the local data protection law for one or more of the following reasons:

A. For the performance of a contract

We process personal data in order to perform our financial services based on contracts with our customer but also to be able to complete our acceptance procedure so as to enter into a contract with prospective customers.

The purpose of processing personal data depends on the requirements for each product or service and the contract terms and conditions provide more details of the relevant purposes.

B. For compliance with a legal obligation

There are a number of legal obligations emanating from the relevant laws to which we are subject to as well as statutory requirements, the Money Laundering Law, the Cyprus Investment Services Law, Tax laws, Units in Collective Investment Schemes Law, Alternative Investment Funds Law. There are also supervisory authorities whose laws and regulations we are subject to e.g., the Cyprus and Securities Exchange Commission. Such obligations and requirements impose on us necessary personal data processing activities for, identity verification, tax law or other reporting obligations and anti-money laundering controls.

C. For the purposes of safeguarding legitimate interests

  • We process personal data so as to safeguard the legitimate interests pursued by us or by a third party. A legitimate interest is when we have a business or commercial reason to use your information. But even then, it must not unfairly go against what is right and best for you. Examples of such processing activities include initiating legal claims and preparing our defence in litigation procedures,
  • Means and processes we undertake to provide for  IT and system security, preventing potential crime, asset security, admittance controls and anti-trespassing measures,
  • Measures to manage business and for further developing products and services.
  • Sharing your personal data with Bank of Cyprus or other entities of the Group for the purpose of updating/verifying your personal data in accordance with the relevant anti-money laundering compliance framework,
  • BOCAM Risk Management

D. You have provided your consent

Provided that you have given us your specific consent for processing then the lawfulness of such processing is based on that consent. You have the right to revoke consent at any time. However, any processing of personal data prior to the receipt of your revocation will not be affected.

6. Who receives your personal data 

In the course of the performance of our contractual and statutory obligations your personal data may be provided to the Bank or other entities of the Group. Various service providers and suppliers may also receive your personal data so that we may perform our obligations. Such service providers and suppliers enter into contractual agreements with BOCAM by which they observe confidentiality and data protection according to the data protection law and GDPR.

It must be noted that we may disclose data about you if we are legally required to do so, if we are authorized under our contractual and statutory obligations or if you have given your consent. All data processors appointed by us to process personal data on our behalf are bound by contract to comply with the GDPR provisions.

Under the circumstances referred to above, recipients of personal data may be, for example:

  • Supervisory and other regulatory and public authorities, inasmuch as a statutory obligation exists. Some examples are the Central Bank of Cyprus, the Cyprus Securities Exchange Commission and the  tax authorities and criminal prosecution authorities,
  • Credit and financial institutions,  
  • Share and stock investment and management companies,
  • For our anti-money laundering process,
  • External legal consultants,
  • Financial and business advisors,
  • Auditors and accountants,
  • Marketing operations,
  • Fraud prevention agencies
  • File storage, archiving and/or records management companies,
  • Companies who assist us with the effective provision of our services to you by offering technological expertise, solutions and support.

7. Transfer of your personal data to a third country or to an international organisation

Your personal data may be transferred to third countries (i.e. countries outside of the European Economic Area) in such cases as e.g. to execute your investment orders or if this data transfer is required by law (e.g. reporting obligation under Tax law) or you have given us your consent to do so. Processors in third countries are obligated to comply with the European data protection standards and to provide appropriate safeguards in relation to the transfer of your data in accordance with GDPR Article 46.

8. How do we treat your personal data for marketing activities and whether ‘profiling’ is used for such activities

We may process your personal data to tell you about products, services and offers that may be of interest to you or your business however not automatically.

We can only use your personal data to promote our products and services to you if we have your explicit consent to do so or, in certain cases, if we consider that it is in our legitimate interest to do so.

You have the right to object at any time to the processing of your personal data for marketing purposes, by contacting the asset management company at any time in person or in writing.

9. How long do we keep your personal information for  

We will keep your personal data for as long as we have a business relationship with you (as an individual or in respect of our dealings with a legal entity you are authorized to represent or are beneficial owner).

Once our business relationship with you has ended, we may keep your data for up to ten (10) years in accordance with the directive of the Data Protection Commissioner (

We may keep your data for longer than 10 years if we cannot delete it for legal, regulatory or technical reasons.

For prospective customer personal data (or authorized representatives/agents or beneficial owners of a legal entity prospective customer) we shall keep your personal data for 6 months from the date of notification of the rejection of your application for BOCAM services/products or from the date of withdrawal of such application, as per Data Protection Commissioner Directive (

10. What are your data protection rights

You have the following rights in terms of your personal data we hold about you:

  • Receive access to your personal data. This enables you to e.g. receive a copy of the personal data we hold about you and to check that we are lawfully processing it.
  • Request correction (rectification) of the personal data we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected.
  • Request erasure of your personal information. This enables you to ask us to erase your personal data (known as the ‘right to be forgotten’) where there is no good reason for us continuing to process it.
  • Object to processing of your personal data where we are relying on a legitimate interest and there is something about your particular situation which makes you want to object to processing on this ground. If you lodge an objection, we will no longer process your personal data unless we can demonstrate compelling legitimate grounds for the processing which override your interests, rights and freedoms.

You also have the right to object where we are processing your personal data, for direct marketing purposes.

If you object to processing for direct marketing purposes, then we shall stop the processing of your personal data for such purposes.

  • Request the restriction of processing of your personal data. This enables you to ask us to restrict the processing of your personal data, i.e. use it only for certain things, if: it is not accurate, it has been used unlawfully but you do not wish for us to delete it, it is not relevant any more, but you want us to keep it for use in possible legal claims, you have already asked us to stop using your personal data but you are waiting us to confirm if we have legitimate grounds to use your data.
  • Request to receive a copy of the personal data concerning you in a format that is structured and commonly used and transmit such data to other organisations. You also have the right to have your personal data transmitted directly by ourselves to other organisations you will name (known as the right to data portability).
  • Withdraw the consent that you gave us with regard to the processing of your personal data at any time. Note that any withdrawal of consent shall not affect the lawfulness of processing based on consent before it was withdrawn or revoked by you.

If you have any other questions about our use of your personal data, please contact BOCAM and if you would like to exercise any of your rights visit our offices,

You can also contact our Data Protection Officer at

We endeavour to address all of your requests promptly.

Right to lodge a complaint

If you have exercised any or all of your data protection rights and still feel that your concerns about how we use your personal data have not been adequately addressed by us, you have the right to complain by sending us an email to You also have the right to complain to the Office of the Commissioner for Personal Data Protection. Find out on their website how to submit a complaint (

11.  Changes to this privacy statement 

We may modify or amend this privacy statement from time to time.

We will notify you appropriately when we make changes to this privacy statement and we will amend the revision date at the top of this page. We do however encourage you to review this statement periodically so a s to be always informed about how we are processing and protecting your personal information.

12. Frequently asked questions

To help you understand the basic principles of data privacy law and address some of the common questions that arise with regard to the protection of your personal data, please refer to the Frequently Asked Questions  below.

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