Privacy, Cookies and GDPR

Personal data is information that can be linked to a physical person. This includes physical and electronic documentation as well as phone recordings.

Full company name and contact information:
Formuesforvaltning AS
Email: kommunikasjon@formue.no
Tel: (+47) 24 12 44 00
Mailing address: PO Box 1777 Vika, 0122 Oslo

This privacy policy was last updated 30.10.2018.

How We Collect Personal Data

When you sign up or order

We will collect your personal data when you subscribe to our newsletter, sign up for one of our events, or request a copy of our magazine “Formue”.

When we communicate with you or provide you with advice

Formuesforvaltning AS, Formuesforvaltning Aktiv Forvaltning AS, Formuesforvaltning Forretningsførsel AS and Formuesforvaltning Advokatfirma AS (together, «Formuesforvaltning»), collect and process your personal data in order to generate a

suitability assessment in accordance with securities trading laws, and as a precondition for offering you investment advice.

To provide comprehensive investment advice we are required  to collect information about your financial investments, personal relationships, investment goals, financial situation and your risk tolerance.

All emails, meeting notes, and other notes associated with our communication with you will be saved. This retention of data is necessary to comply with the securities trading laws and helps ensure that all changes in your situation and all decisions you make are well documented. However, you can always let us know if there is certain information you wish us to leave out in the material we retain.

Information that is collected will be shown in your personal wealth plan that will be available on your personal page on minformue.no.

From other sources

To help us maintain good quality customer data, and to comply with Norwegian law, Formuesforvaltning may also collect additional data about you from external private and public records.

How We Process Personal Data

Investment advisory

In order to comply with the securities trading laws, we use personal data to provide investment advice, as well as to generate a suitability assessment in advance of providing advice.

Account Management

We use personal data in order to fulfill our contract with you. This includes sending invoices, executing payment transactions, repling to your requests and administrating our customer relationship with you.

Analytics

We can sometimes use personal data for the purpose of analyzing and improving our own services. This will in turn help us provide you with a better service.

Customer Relationship and Marketing

We process your personal data in order to manage our relationship with you, follow up in a timely manner and provide you with relevant marketing material and content. This will help us provide our customers with more relevant offers.

When you subscribe to our newsletter, sign up for one of our events, or request a copy of our magazine “Formue” we will include you as a subscriber in our email lists.

You can unsubscribe at any time by following the link at the bottom of the last email you received or by sending a message  to kommunikasjon@formue.no. We will then remove your name from any list you specify.

IT Management

Formuesforvaltning use external IT suppliers who may process or store personal data. Storing and processing of data will primarily happen within the EEA, but in certain limited situations it might take place outside the EEA. If the processing and storing of personal data were to happen outside of the EEA, it will always be carried out in accordance with Norwegian privacy laws. Our IT administration policies are an integral part of the processes we have designed to deliver our services to you.

Formuesforvaltning receive services from subsidiariesin the Formuesforvaltning group of companies. The processing of personal data can take place both at the parent company (Formuesforvaltning AS) or at any of its affiliates.

Confidentiality

All employees of Formuesforvaltning are required to keep information obtained from customers confidential.

The confidentiality obligation does not cover information that is or may become publicly available, information that we are required by law to provide to a court of law or other authorities, nor information that is not confidential in nature.

Cookies

If you wish to get more insights into what is traced when you’re online, we recommend the browser addon Ghostery.

Phone Recordings

As required by Norwegian securities trading laws, Formuesforvaltning will record all phone calls to and from our Wealth Managers (including mobile phone calls). Such recordings will be saved for at least three years.

Recorded conversations can be audited by our Compliance & Risk Department or by external parties engaged to fulfill this function. Formuesforvaltning may be required to share recordings and information collected using other communication channels with Norwegian authorities and others who under law are entitled to see such information.

You can find further information about our telephone recording policy here (Norwegian).

Consent

You can give us specific consent to receive communications from Formuesforvaltning. What you consent to should be clearly stated in the consent description.

You can unsubscribe at any time by following the link at the bottom of the last email you received or you can send an email to kommunikasjon@formue.no. We will then remove you from any list you wish to be removed from.

If you are already a customer, you can check and change what you have consented to on minformue.no.

Your Rights

By law you have the following rights:

The right to information

You have the right to get more information about how we process your personal data.

The right to transparency

You can ask to have all data we have collected about you sent to you. Note that this right does not include access to information about any person other than yourself, and that we will not give provide you with any information we judge to be confidential business information.

The right to have information corrected

You can ask us to update information about yourself and correct any information that you believe to be incorrect.

The right to have information deleted

We will delete information about you when we by law are required to do so.

Data portability rights

Data portability rights allow individuals to obtain and reuse their personal data for their own purposes across different services. You can at any time request to have delivered to you any information we have stored about you in a structured and machine-readable format.

The right to object to processing

We cannot use your personal data unless there is a legitimate interest for us or we have your consent to do so. If you believe that these criteria are not met, you can at any time object to our processing of your data. If our reason for processing your data is is required by law or deemed to be sufficiently important, an objection may not be successful.

The right to limit processing

While an objection is being processed, we will limit the use of your data until a conclusion has beenreached.

You can exerciseyour objections rights by accessing minformue.no, by contacting your Wealth Manager, or by contacting us at the email address shown above.

If you think we are in violation of privacy laws or wish to object to our use of your personal data, you can send an official complaint to The Norwegian Data Protection Authority. However, we encourage you to contact us first, so that we can give you an answer and attempt to clear up any possible misunderstandings.

You have the right to access information (free of charge) about which personal data that is processed by Formuesforvaltning and other affiliated companies in the Formuesforvaltning group. Your inquiry should be directed to the following email address: personvern@formue.no.

Storing and Processing Data

Formuesforvaltning will retain customer data for the duration of the customer relationship.

If a customer relationship discontinues, information related to transactions and contracts will be kept for a further 10 years. When a customer relationship has been inactive for 10 years all personal data will be anonymized or deleted.

Other customer information will be deleted two years after the customer relationship ended.

Marketing data, including customer profiles, will be deleted as soon as possible and in no event more than 3 months after the customer relationship has ended.

Phone recordings of conversations with customer support will usually be stored for 72 hours, but can be stored for up to ten years if the conversation dealt with purchases of insurance services.

Any information about scams or fraud will be stored for 10 years.

Data Protection Officer

Formuesforvaltning has a Data Protection Officer who in charge of securing the Company’s compliance with privacy laws, regulations and internal policies. The Data Protection Officer can be contacted by writing an email to personvern@formue.no. The Data Protection officer can be contacted for any complaints regarding our data processing. You can also send an official complaint to The Norwegian Data Protection Authority.

Duty of Disclosure

You should be aware that Formuesforvaltning may be obliged to disclose certain information about our customer relationships or transactions to public authorities.

Formuesforvaltning provide information about holdings and selected transactions in client accounts and manager registration accounts to the tax authority. We do this to ensure that our customers are taced correctly and to comply with the disclosure obligations in the Tax Administration Act § 6-17 no. 3.