If your request relates to information about a trust or lending program for which we act as a custodian or trustee, we may not hold all of the information about you that is relevant to that trust or lending program. We do not usually derive information from credit eligibility information although we may hold information that a loan manager has derived from credit eligibility information such as a credit score.
It also means that the relevant manager that manages the operations of the trust on a day to day basis will also hold personal information.
Such disclosure would include a description of the data breach and the kinds of information concerned, but would not include the personal information. We may also ask you to review, confirm and advise of us changes to your personal information.
How personal information is collected and held BNYM collects your personal information in a number of ways including: Where we hold information as a trustee, this means we may be subject to obligations only to use and disclose that personal information for the purposes of the relevant trust.
We may need to refer your request to the relevant manager to respond to your request.
From time to time, we may also collect personal information about individuals such as company directors or guarantors whom we may deal with.
Protect Yourself To help protect yourself and your personal data, do not trust any e-mail communications that request your personal information. Often this will be a quicker and more effective way of making a request for access and correction because the loan manager will usually hold more information than us.
This statement applies in respect of these categories of information. Credit information and credit eligibility information are particular types of personal information that are subject to separate regulation under the Privacy Act.
Use of our web site Please refer to the following website page of information about use of our website and cookies. When we accept appointment to act as a trustee, we require the relevant manager to comply with the law relating to privacy when they deal with your personal information.
We may collect personal information such as your name, address, phone number or any other information that may be required for identification purposes. Where a regulated institution has multiple inception dates for its reinsurance arrangements, the regulated institution must submit to APRA a Reinsurance Statement every six months.
We will also ensure that any service providers including managers or trusts that we deal with also take such steps. Further information may also be available from the OAIC website http: The relevant manager of that trust with whom you deal with on a day to day basis may hold more information than we do.
You may wish to consider putting a complaint to us in writing. A regulated institution should inform APRA immediately if it anticipates that a problem is likely to arise out of its reinsurance arrangements that may materially and adversely affect its current or future capacity to meet its obligations.
How you can find out about credit reporting bodies with credit information may be exchanged? What if you do not provide certain information? You may also have rights to take your complaint to an external dispute resolution scheme where credit is involved.
We will also take reasonable steps to ensure that the overseas recipient does not breach the provisions of the APP to the extent that they apply to us in relation to the information.
If a request for access would divulge a commercially sensitive decision-making process, then BNYM may provide an explanation rather than direct access to the information.
Reinsurance management policies and procedures to manage the selection, implementation, monitoring, review, amendment and documentation of reinsurance arrangements of the regulated institution Mechanisms to ensure that the reinsurance management framework remains effective Clearly defined managerial responsibilities and controls.
Reinsurance management framework should at least include: Reinsurance management framework should be subject to effective and comprehensive review by operationally independent, trained and competent staff.
You may have different rights than those contained in the APP in relation to access to or correction of credit eligibility information.In January APRA released a discussion paper outlining proposed changes to the Economic and Financial Statistics (EFS) collection administered by APRA on behalf of the ABS and the RBA.
A new data quality standard ARS is proposed which sets the required level of accuracy for data reported for the data collection. The ABA welcomes APRA’s first Prudential Standard CPS Information Security (CPS ), and is a strong supporter of all government and regulator initiatives to strengthen the financial sector against.
Australian Prudential Regulation Authority.
APRA Superannuation Reporting Standardsand The Actuaries Institute is the sole professional body for actuaries in Australia. It represents the Item 1 requires reporting of accrued benefits, vested benefits, minimum benefits and net assets.
Investment Services. BNY Mellon Australia Pty Ltd (BNY Mellon Australia), a wholly owned subsidiary of The Bank of New York Mellon, operates a Global Records Management Program to develop, deliver and maintain a global framework.
TechnologyOne has engaged with both the Australian Prudential Regulation Authority (APRA) and our customer base to develop a reporting toolkit that enables organisations to generate correctly formatted reports for APRA.
The new reporting standard ARS ABS/RBA Data quality for the EFS Collection introduces accuracy thresholds calibrated according to the importance of the data to the agencies, the institution’s size and their expected ability to report the data with a high degree of accuracy.Download