Protection of Personal Information Act (POPIA)

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What does it mean?

At Netto we have always taken the security and confidentiality of your data seriously. The introduction of POPIA has been necessary with the way our lives have evolved online.  It means there are now minimum defined requirements that we need put in place to ensure that your data is secure and is used only for the purpose it was obtained for.

What is the purpose of holding my data?

We maintain data in order to effectively provide financial advice to you.  The Financial Advice and Intermediaries Act also required that we retain information in support of the advice we have provided and in respect of financial solutions implemented for you.

What do we do with your data?

Your data is only used for the purpose of providing financial advice, investment management and intermediary services to you.  Your data therefore is “processed” in respect of the services being rendered in accordance with the POPIA. This can be found in our PAIA Manual here.

Is my data secure?

We are committed to ensuring the security and protection of your information that we hold.  Our security systems are extensive and we have a data protection team committed to ongoing review and vigilance of all matters within the scope of POPIA so that a process of continual assessment, risk management and improvement is embedded in our team, and as such, is POPIA compliant.

How will email communications change?

We work tirelessly to ensure that we only send you correspondence that pertains specifically to you and your portfolio.  While we will be implementing the ability for you to opt out of non-essential communications in the future, please bear with us while we work through customisation options for email we are legally obliged to send to you which you may not want.  As always, your feedback will be valued.

What will this mean for me?

We have, and continue to actively develop and implement privacy policies, procedures, controls, and security measures for POPIA compliance.  While this compliance may result in an occasional inconvenience, the protections are necessary and will be in your best interests.

By Ian Beere, CFP® CA(SA)