The financial markets have and continue to operate on basic tenants, privacy being one of them. As such, the members of the Registered Deposit Brokers Association will continue to be committed to maintaining the security of your personal information and its accuracy while maintaining confidentiality. Member firms are required to abide by the RDBA’s standard principles.

This commitment is outlined in the following 10 principles. Each principle is to guide and govern the values established by the Personal Information and Electronic Documents Act. (PIPEDA)

Principal 1 – Accountability

Each RDBA member is responsible for maintaining and protecting the client’s information under its control. Each member firm is required to designate an individual or individuals who is accountable and responsible for its company’s compliance with PIPEDA.

Principle 2 – Identifying the Purposes

Broker members will develop methods that clearly identify which client information shall be required before or at the time information is collected.

Principle 3 – Obtaining Consent

Establishing consent from the client is a requirement of the collection and its use or disclosure of personal information, except where required or permitted by law.

Principle 4 – Limiting Collection

Member firms will limit the collection of information to those details that are necessary for the purposes identified by the transaction and/or those of its associated companies and/or under any of the terms of its financial institutional agency agreements.

Principle 5 - Limited Use, Disclosure and Retention

Client information may only be used or disclosed for the purpose for which it was collected unless the client has otherwise consented. Member firms will establish and retain the information for the period of time required to fulfill the purpose for which it was collected or required or permitted by law.

Principle 6 – Accuracy

Member firms must keep client information up-to-date as is necessary for the purposes for which it was obtained and if required, maintain its accuracy and completeness.

Principle 7 – Keeping Secure

RDBA member client’s information must be protected by security safeguards and procedures, which are appropriate to the sensitivity level of the information.

Principle 8 – Safeguards and Procedures

RDBA members are required to make available information to clients concerning the policies and practices that apply to the management and safeguards of their personal information.

Principle 9 – Client Access

Upon request, RDBA member clients shall be informed of the existence, use and disclosure of their information and be provided access to it. This allows clients to verify the accuracy and completeness of their information and if appropriate, request that the information be amended.

Principle 10 – Client Concerns or Complaints

Clients of RDBA broker agents may direct any enquiries or questions with respect to the RDBA standard principles on privacy to the member firm’s designated privacy officer.

The right to withhold information

Providing personal information is your personal choice. However, in financial dealings, your decision to withhold particular details may limit or restrict the services that can be provided by a RDBA member and may make it difficult or impossible to render appropriate alternatives.

Consent to use personal information

Consent may be obtained in various ways. Obtaining express consent could be in writing or it may be determined that consent has been implied by the circumstances (for example in a signed consent, e-mail or application form or verbally in person or over the phone). When receiving personal information from you that enables the deposit broker/agent to provide you with the requested product or service, your consent to allow us to deal with that personal information in a reasonable manner would be implied. In doing so, you would be consenting to our collection, use and disclosure to appropriate third parties of such personal information for these purposes. You would also be authorizing the use and retention of such information for as long as it may be required for the described. Your consent may remain valid even after the termination of the relationship with you, unless you provide written notice that such consent is withdrawn.