Privacy notice for protection of personal data
This notice is served on you at the point of your personal data collection.
The controller of your personal data is:
Financial Services Compensation Scheme Limited (FSCS)
10th Floor Beaufort House, 15 St Botolph Street, London, EC3A 7QU.
Company Number 03943048
If you have any concerns or questions about our use of your personal data, please contact our Data Privacy Office at InformationSecurity@fscs.org.uk or write to the address above.
The purpose of the FSCS for processing your personal data is to:
- consider claims for compensation;
- pursue recoveries;
- administer and raise the FSCS levy; and
- perform its other business and ancillary public functions such as personal data use in:
- cookies and analytics on our website;
- our communications, including the contact centre and newsletters;
- recruitment, employment and pensions;
- surveys and customer feedback;
- disclosure required by third parties;
- building security and cyber security;
- discharge of our duties under the Equality Act to assist those with legally protected characteristics, and those needing other special assistance.
- Providing claimants with advisor contact details where the FSCS cannot process a claim.
In order to process personal data, FSCS must identify at least one legal basis on which to do so. FSCS’ legal bases are:
(i) For general personal data: legal obligation basis and / or public interest basis or legitimate interest basis.
(ii) For Special Category Data (e.g. health or criminal conviction information): consent basis or based on statutory permissions relating to:
- use in employment, social security and social protection law, or
- use in the establishment, exercise or defence of legal claims.
Your data will be used by the FSCS and any third parties the FSCS uses to deliver services to data subjects, to exercise levy-raising duties and to pursue financial recoveries. It will also be used during its normal not-for-profit business activities and ancillary statutory duties. We will also collect your personal data from any of the following to process your claim:
- Claims Management Companies
- Product Providers
- Deposit Takers and FCA or PRA authorised firms
- Insolvency Practitioners
The FSCS may during its service delivery need to transfer your personal data to anywhere in the world. These transfers are subject to compliance with internal procedures and data protection laws to ensure appropriate safeguards are in place.
Your data will be stored for a maximum of 7 years, except for employee and pension archiving which is a maximum of 50 years, and except for the archiving of limited claims data to comply with our statutory duty to ensure the efficient running of FSCS.
You have various rights regarding your personal data. These are rights to subject access requests, rectification of inaccurate personal data, erasure (deletion) of personal data, restriction of processing, objection to processing and portability of data
You have the right to withdraw your consent to data processing at any time.
You have the right to lodge a complaint with the Information Commissioners Office (ICO), the supervisory authority if you ae dissatisfied with our treatment of your personal data. They can be contacted via https://ico.org.uk, but we would welcome an opportunity to try to deal with your complaint first.
The provision of your personal data is required to process compensation claims. If you refuse to provide certain information when requested, we may not be able to deliver the service requested (such as paying compensation), or we may be prevented from complying with our legal obligations (such as to ensure the health and safety of our workers).
When processing claims, the FSCS may make automated decisions as to whether the claim meets the applicable criteria or to calculate the amount of the compensation. This is for speed and efficiency, and only in some circumstances. These decisions may be based on an automated review of information you supply to us, online or by phone, for key indicators that you are entitled to compensation.
We may use an automated calculator to compute the amount of compensation from information supplied by you or from the insolvent firm relevant to your claim. If your claim has been decided based solely on automated processing, we will tell you when we inform you of the decision. You will then have a month to ask us to reconsider our decision, or take a new decision not based solely on automated processing. We will then endeavour to comply with your request within a month of receiving it, but this period may be extended, or we may refuse your request or charge a fee in limited circumstances.
Version 2.1 - August 2020