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Equiti (”We/our”) is a trading name of Divisa Capital LP, which is a registered Limited Partnership, registration number 2280392 with its registered address located at Building G, 4 Orbit Drive, Albany, Auckland 0632, New Zealand
Please read the following carefully to understand our views and practices regarding your personal data.
By visiting www.equiti.com you are accepting and consenting to the practices described in this Policy.
We train our employees who handle personal information to respect the confidentiality of customer information and the privacy of individuals. We regard breaches of your privacy very seriously and will impose appropriate penalties, including dismissal, should we deem it necessary.
For the purposes of the Act We have nominated a data protection officer to ensure that the management of personal information complies with this Act and this Policy.
INFORMATION WE COLLECT FROM YOU
We will collect and process the following data about you from:
Information you give us:
Information we collect about you:
Information we receive from other sources:
We work closely with third parties (including, for example, business partners, sub-contractors in technical, payment and delivery services, advertising networks, analytics providers, search information providers, credit reference agencies). We use this information to, amongst other matters, assist us in AML/KYC matters.
We are always looking at ways to improve efficiency and functionality for customer experience on the website through technology enhancements. This may mean a change to the way in which we collect or use personal information. The impact of any technology changes, which may affect your privacy, will be notified to you at the time of any such change.
LINKS TO THIRD PARTY WEBSITES
HOW WE USE THE INFORMATION
We use information held about you in the following ways from Information you give to us:
Information we collect about you we will use as follows:
Information we receive from other sources. We will combine this information with information you give to us and information we collect about you. We will use this information and the combined information for the purposes set out above (depending on the types of information we receive).
DISCLOSURE OF YOUR INFORMATION
Depending on the product or service concerned and particular restrictions on sensitive information, this means that personal information may be disclosed to:
You agree that We have the right to share your personal information with:
We will disclose your personal information to third parties:
WHERE WE STORE YOUR PERSONAL DATA
We hold personal information in a combination of secure cloud storage facilities, held electronically on off-site back-up servers or held within multiple cloud servers and we take all necessary steps to protect the personal information we hold from misuse, loss, unauthorised access, modification or disclosure.
All information you provide to us is stored on our secure servers. Any payment transactions will be encrypted using SSL technology. Where we have given you (or where you have chosen) a password which enables you to access certain parts of our website, you are responsible for keeping this password confidential. We ask you not to share a password with anyone.
Unfortunately, the transmission of information via the Internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our site; any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorised access.
You have the right to ask us not to process your personal data for marketing purposes. We will usually inform you (before collecting your data) if we intend to use your data for such purposes or if we intend to disclose your information to any third party for such purposes. You can exercise your right to prevent such processing by checking certain boxes on the forms we use to collect your data. You can also exercise the right at any time by contacting us by Email: [email protected]
ACCESS TO INFORMATION
The Act gives you the right to access information held about you. Your right of access can be exercised in accordance with the Act. Further information on subject access requests can be found on https://www.privacy.org.nz website
If you would like a copy of the information we hold about you, please write to us verifying your identity and specifying what information you require at the address set out for notices and correspondence in clause 1.1 of our Client Agreement.
CONTACT FOR COMPLAINTS
Divisa Capital LP
P O Box 303 306
Auckland 0632 New Zealand
Email: [email protected]
It is important to identify and effectively manage conflicts of interest, which arise or may arise in the course of providing a service and carrying out activities, as their existence may lead to material risk of damage to a client’s interests. This document sets out Equiti’s policy for the management of such conflicts of interest.
Equiti is a trading name of Divisa Capital LP, Divisa Capital LP is a registered Limited Partnership, registration number 2280392 with its registered address located at Building G, 4 Orbit Drive, Albany, Auckland 0632, New Zealand.
Equiti has taken this opportunity to examine its policies and procedures to ensure they remain fit for purpose and address, where potentially relevant, the issues in a way which is proportionate to the scale and complexity of its business. Both the policy and the register of conflicts of interest will be reviewed on at least an annual basis.
This document does not intend to create third party rights or duties or form part of any contractual agreement between the firm and any client. This policy may be amended and updated at any time if any material change occurs and will be reviewed on at least an annual basis.
If at any time you are in doubt as to how to act in a given situation where you are faced with an actual or potential conflict of interest, you should contact the Compliance Officer.
Whilst conflicts of interest are important to be adhered to by all of Equiti’s staff, they are non-exhaustive, and certain other additional rules may apply to readers who are members of professional associations by virtue of their job role. Failure to follow any of the rules whether by express breach, or failure to follow any of the spirit of identifying, mitigating and managing conflicts of interest may also be a breach of an employment contract. Disciplinary action may be taken by Equiti as a result.
Conflicts of Interest
These services that Equiti provides to its clients could potentially give rise to conflicts of interest entailing a material risk of damage to the interests of one or more clients. This document aims to set out these potential conflicts and the procedures that are in place to be followed and measures to be adopted in order to manage such conflicts.
Conflicts of interest may occur between a customer and Equiti, including its managers, employees or any persons directly or indirectly linked to the firm, or between two or more clients.
Treating customers fairly is central to the core values of Equiti. There is an embedded culture that understands what is considered acceptable and unacceptable behaviour. As such, conflicts of interest and the identification / management / mitigation thereof are central to this philosophy and culture.
An actual or potential conflict may arise when, in the exercise of its activities and services, the interests of:
and the interest of its clients, are directly or indirectly in competition, and which could significantly prejudice the client’s interests.
Identifying situations where a conflict may arise
The circumstances giving rise to conflicts of interest include all cases where there is a conflict between the:
Conflicts of interests could prejudice a client in various ways, whether or not Equiti suffers any financial loss and independently of whether the actions or the motivations of the employees involved are intentional. For the purposes of identifying the types of conflicts of interest that arise, or may arise, Equiti must take into account, as a minimum whether the firm, a relevant person (e.g. a partner, employee or an appointed representative or a director, partner or employee of an appointed representative or a person who is directly involved in the provision of services to the firm or its appointed representative under an outsourcing agreement) or a person directly or indirectly linked by control to the firm:
Equiti has identified the following circumstances in which general types of potential conflicts of interest may arise:
Prevention and management
Equiti has identified specific potential conflicts of interests, which may arise in relation to its activities. The general nature and/or source of these conflicts will be disclosed to clients before undertaking business in sufficient detail to enable the client to make an informed decision about the service in the context in which the conflict has arisen. For each potential situation, Equiti has analysed whether or not the risk is actual or potential for one or more of its clients.
It is not always possible to prevent actual conflicts of interest from arising. In that case Equiti will try to manage the conflicts of interests by segregating duties where possible or by establishing Chinese Walls. In certain circumstances, Equiti may have to decline to take on a new client.
If Equiti considers developing new products or services or making other changes to its business model or operations, Senior Management will consider whether any additional potential conflicts of interest arise.
Senior management will update the “Conflicts of Interest Policy” and “Register of Potential Conflicts of Interest” as necessary on an ongoing basis and formally consider the continued adequacy of the arrangements on an annual basis.
Inducements including gifts and hospitality
Equiti maintains business relationships with third parties who may remunerate Equiti in the form of management and performance fees, which can constitute monetary or non-monetary benefits thereby impairing Equiti’s fiduciary duties to the client. Such payments are classified as inducements. Further details are included in the Compliance Manual.
Gifts and hospitality could lead to potential conflicts of interest. No employee may accept from, or give to, any person any gift or other benefit that cannot properly be regarded as justifiable in all circumstances. Policies and procedures have been implemented to ensure that staff and their connected persons do not offer or accept gifts or inducements which may give the perception that decisions or actions are not impartial.
These policies are set out in the Compliance Manual. All employees must act with the highest standards of integrity to avoid any allegations of conflicts of interest.
A record is kept by the Compliance Officer of any gifts or hospitality received or given. Where an invitation to a hospitality event could be construed as being a business inducement, it must be declined and the Compliance Officer informed.
Personal account dealing
Employees may only undertake personal investment activities that do not breach applicable law or regulation, do not unduly distract from their employment responsibilities and do not create an unacceptable risk to the company’s reputation. Transactions should also be free from business and ethical conflicts of interest. Employees must never misuse proprietary or client confidential information in their personal dealings and must ensure that clients are never disadvantaged as a result of their dealings.
Equiti’s Personal Account Dealing Policy has been established to ensure that personal account dealing by members of staff comply with this policy. This includes a requirement for pre-deal approval from the Compliance Officer. Such permission is normally only valid for 24 hours.
Equiti’s Personal Account Dealing policy is set out in the firms’ Compliance Manual.
Outside employment, external Directorships and business interests
No employee may engage in any additional occupation without the consent of the Company. In certain circumstances, consent may be withheld.
Employees must not accept personal fiduciary appointments (such as trusteeships, Director appointments or executorships other than those resulting from family relationships) without first obtaining written approval from the COO or the Compliance Officer.
Aggregation of orders
Where Equiti aggregates the orders of clients, it must ensure that this does not work to the overall disadvantage of any client whose order is to be aggregated. Equiti makes reference to this within the Order Execution Policy.
In certain cases, Equiti may disclose the general nature and/or source of potential or actual conflicts to its client in writing before undertaking business on its behalf so that the client can decide whether or not to accept these potential conflicts.
If it is not possible to avoid or manage a conflict of interest, Equiti may have no choice but to decline to provide the service requested.
Segregation of Duties
There are several distinct tasks within the investment management business that could lead to potential conflicts of interest that are mitigated by them being segregated from the individuals directly involved in the task.
Equiti maintains appropriate policies in its internal policies detailing the potential use of “Insider Lists” and “Information Barriers” often known as Chinese Walls so as to limit or withhold the use of information that is price-sensitive, confidential, and could give rise to market abuse, restrictions on dealing, conflicts of interest, or any other improper or unethical activities.
The Compliance Officer monitors along with the relevant business line managers the effectiveness of any Information Barriers that may be required. In certain circumstances staff may need to be taken “across the wall”, should this be required, the Compliance Officer must be notified and a record made thereof.
Remuneration and Oversight
The management oversight and determination of appropriate remuneration of members of staff is conducted by Equiti’s Senior Management. Remuneration is based on the overall results of the firm and is not based on the success of any particular transaction.
Remuneration for customer facing and sales staff should be partly based on business production.
Staff are subject to appropriate management and supervision to ensure that Equiti is able to demonstrate that it has appropriate and effective arrangements in place to ensure that conflicts of interest are properly managed.
Equiti must keep and regularly update a written record of the kinds of ancillary services or activities carried out by or on behalf of the firm in which a conflict of interest entailing a material risk of damage to the interests of one or more clients has arisen or, in the case of an ongoing service or activity, may arise. These records will be for a minimum period from the date of creation and are maintained on an ongoing basis by the Compliance Officer.
Conflicts of Interest situations or potential conflicts situations should be reported to the Compliance Officer immediately.
This acceptable use policy sets out the terms between you and us under which you may access our website www.equiti.com (our site). This acceptable use policy applies to all users and visitors to our site.
Your use of our site means that you accept, and agree to abide by, all the policies in this acceptable use policy, which supplement our terms of website use. The site operated by Equiti is a trading name of Divisa Capital LP. Divisa Capital LP is a registered Limited Partnership, registration number 2280392 with its registered address located at Building G, 4 Orbit Drive, Albany, Auckland 0632, New Zealand
You may use our site only for lawful purposes. You may not use our site:
You also agree:
We may from time to time provide interactive services on our site, including, without limitation: (interactive services)
Where we do provide any interactive service, we will provide clear information to you about the kind of service offered, if it is moderated and what form of moderation is used (including whether it is human or technical).
We will do our best to assess any possible risks for users (and in particular, for children) from third parties when they use any interactive service provided on our site, and we will decide in each case whether it is appropriate to use moderation of the relevant service (including what kind of moderation to use) in the light of those risks. However, we are under no obligation to oversee, monitor or moderate any interactive service we provide on our site, and we expressly exclude our liability for any loss or damage arising from the use of any interactive service by a user in contravention of our content standards, whether the service is moderated or not.
Where we do moderate an interactive service, we will normally provide you with a means of contacting the moderator, should a concern or difficulty arise.
These content standards apply to any and all material which you contribute to our site (contributions), and to any interactive services associated with it.
You must comply with the spirit and the letter of the following standards. The standards apply to each part of any contribution as well as to its whole.
Contributions must not:
Suspension and termination
We will determine, in our discretion, whether there has been a breach of this acceptable use policy through your use of our site. When a breach of this policy has occurred, we may take such action as we deem appropriate.
We exclude liability for actions taken in response to breaches of this acceptable use policy. The responses described in this policy are not limited, and we may take any other action we reasonably deem appropriate.
Changes to the acceptable use policy
We may revise this acceptable use policy at any time by amending this page. You are expected to check this page from time to time to take notice of any changes we make, as they are legally binding on you. Some of the provisions contained in this acceptable use policy may also be superseded by provisions or notices published elsewhere on our site.
Equiti is a registered trading name of Divisa UK Limited. Divisa UK Limited (“Divisa” or “The Firm”) is authorised and regulated by the Financial Conduct Authority (“FCA”) (FRN. 528328). In respect of the implementation of the Markets in Financial Instruments Directive (MiFID) in the European Union and in accordance with the Financial Conduct Authority (“FCA”) rules, Equiti is required to categorise its clients into one of the following three MAIN categories:
It should be noted however, that The Firm does not offer investment advice to its client regardless of client categorisation.
2. Categorisation Criteria
Retail Client: is a client who is not a professional client nor eligible counterparty. Retail clients receive the highest level of regulatory protection from the FCA. This includes the segregation of their funds, in line with current FCA Client Money (CASS rules), along with access to the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).
Professional Client: is a client who possesses the experience, knowledge and expertise to make his own investment decisions and properly assess the risks that he incurs. There are two classifications of Professional Client which are as follows:
2.1 Per Se Professional Client is either:
1. One of the following categories listed below which is required to be authorised or regulated to operate in the financial markets, including an equivalent entity from a non-EEA state:
(a) a credit institution;
(b) an investment firm;
(c) any other authorised or regulated financial institution;
(d) an insurance Firm;
(e) a collective investment scheme or the management Firm of such a scheme;
(f) a pension fund or the management Firm of a pension fund;
(g) a commodity or commodity derivatives dealer;
(h) a local;
(i) any other institutional investor; or
2. In relation to MiFID or equivalent third country business, where a Per Se Professional qualifies as a Large Undertakingwill need to meet two out of the three following size requirements on a Firm basis:
3. In relation to non-MiFID business or equivalent third country business a Large Undertaking will need to meet either of the following conditions:
(a) A body corporate (including a limited liability partnership) which has (or any of whose holding companies or subsidiaries has) called up share capital of at least £5m (or its equivalent in any other currency; or
(b) A large undertaking that meets (or any of whose holding companies or subsidiaries meets) two of the following tests:
(i) a balance sheet total of €12,500,000;
(ii) a net turnover of €25,000,000;
(iii) an average number of employees during the year of 250; or
(c) A partnership or unincorporated association which has (or has had at any time during the previous two years) net assets of at least £5 million (or its equivalent in any other currency at the relevant time) and calculated in the case of a limited partnership without deducting loans owing to any of the partners;
(d) A trustee of a trust (other than an occupational pension scheme, SSAS, personal pension scheme or stakeholder pension scheme) which has (or has had at any time during the previous two years) assets of at least £10 million (or its equivalent in any other currency at the relevant time) calculated by aggregating the value of the cash and designated investments forming part of the trust's assets, but before deducting its liabilities;
(e) A trustee of an occupational pension scheme or SSAS, or a trustee or operator of a personal pension scheme or stakeholder pension scheme where the scheme has (or has had at any time during the previous two years):
(i) At least 50 members; and
(ii) Assets under management of at least £10 million (or its equivalent in any other currency at the relevant time);
(f) A local authority or public authority.
4. A national or regional government, a public body that manages public debt, a central bank, an international or supranational institution (such as the World Bank, the IMF, the ECP, the EIB) or another similar international organisation;
5. Another institutional investor whose main activity is to invest in financial instruments (in relation to the firm's MiFID or equivalent third country business) or designated investments (in relation to the firm's other business). This includes entities dedicated to the securitisation of assets or other financing transactions.
2.2 Elective Professional Client:
Equiti may treat a client as an Elective Professional Client if it has been assessed as compliant with (a) and complies with (b):
a. The firm undertakes an adequate assessment of the expertise, experience and knowledge of the client that gives reasonable assurance, in light of the nature of the transactions or services envisaged, that the client is capable of making his own investment decisions and understanding the risks involved; (the "qualitative test");
b. In relation to MiFID or equivalent third country business in the course of that assessment, at least two of the following criteria are satisfied:
(i) The client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
(ii) The size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds € 500,000;
(iii) The client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged;(the "quantitative test"); and
The following procedure should then be followed:
c. The client must state in writing to the firm that it wishes to be treated as a professional client either generally or in respect of a particular service or transaction or type of transaction or product;
d.The firm must give the client a clear written warning of the protections and investor compensation rights the client may lose; and
e.The client must state in writing, in a separate document from the contract, that it is aware of the consequences of losing such protections.
Eligible Counterparty Clients: An eligible counterparty is a client that is either a per se eligible counterparty or an elective eligible counterparty.
Clients can only be an eligible counterparty if the firm is undertaking one of the following activities for them:
If the firm is not conducting any of these transactions, then the client cannot be classed as an eligible counterparty.
2.3 Per Se Eligible Counterparties:
Each of the following is a per se eligible counterparty (including an entity that is not from an EEA state that is equivalent to any of the following) unless and to the extent it is given a different categorisation under COBS 3.6:
a) An investment firm;
b) A credit institution;
c) An insurance company;
d) A collective investment scheme authorised under the UCITS Directive or its management company;
e) A pension fund or its management company;
f) Another financial institution authorised or regulated under EU or the national law of an EEA State;
g) An undertaking exempted from the application of MiFID under either Article 2(1)(k) (certain own account dealers in commodities or commodity derivatives) or Article 2(1)(l) (locals) of that directive;
h) A national government or its corresponding office, including a public body that deals with the public debt;
i) A central bank;
j) A supranational organisation.
2.4 Elective Eligible Counterparties
A firm may treat a client as an elective eligible counterparty if:
1. The client is an undertaking and:
a) Is a per se professional client (except for a client that is only a per se professional client because it is an institutional investor under COBS 3.5.2 R (5)) and, in relation to business other than MiFID or equivalent third country business:
i) Is a body corporate (including a limited liability partnership) which has (or any of whose holding companies or subsidiaries has) called up share capital of at least £10 million (or its equivalent in any other currency at the relevant time); or
ii) Meets the criteria in the rule on meeting two quantitative tests (COBS 3.5.2 R (3)(b)) (see (b) under ‘Per se Professional Clients’); or
b) Requests such categorisation and is an elective professional client, but only in respect of the services or transactions for which it could be treated as a professional client; and
2. The firm has, in relation to MiFID or equivalent third country business, obtained express confirmation from the prospective counterparty that it agrees to be treated as an eligible counterparty.
The categories of elective eligible counterparties include an equivalent undertaking that is not from an EEA State provided the above conditions and requirements are satisfied.
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