Wilshire OpCo UK Limited and its affiliates (“Wilshire Indexes”) and its affiliates and subsidiaries, have adopted the following policy describing how third party and consumer information is gathered by Wilshire Indexes and may be treated (Wilshire Indexes “Privacy Policy”). Wilshire Indexes is a global company and conducts business around the world, including within regions with unique rules that apply to the collection, processing, and retention of Personal Information (as defined below) from individuals within those areas. Appendices A and B include information regarding additional rights, policies and procedures applicable to global data privacy laws, including General Data Protection Regulation (“GDPR”, together with other EEA data privacy laws “EEA Laws”).
Privacy PolicyWilshire Indexes considers privacy to be a fundamental aspect of our relationships. We are committed to maintaining the confidentiality, integrity, and security of private, personal and confidential information in our possession. In the course of providing our products and services, we may collect, retain, and use private, personal and confidential information for the purpose of administering our operations, and complying with legal and regulatory requirements. The kinds of information we may collect will depend on the nature of the relationship in which we are engaged and may include Personal Information (as defined below) for all applicable global privacy laws. This information may include contact details such as address, email address and telephone number and, where required for contractual, legal or regulatory obligations, additional information (including, but not limited to, date of birth, bank account details and tax identification documents or numbers).The term “Personal Information” as used in this Privacy Policy, and for purposes of all global privacy laws, means any information that identifies, relates to, describes, is reasonably capable of being associated, or could reasonably be linked, directly or indirectly to an identified or identifiable natural person (“Data Subject” or “ Consumer”); an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.
In most cases, we collect information directly from the person or entity with whom we have the relationship (e.g. through account applications, investment policy statements, website usage, customer surveys, and electronic or verbal correspondence); but may also obtain information from other sources (e.g. transactions; brokers, consultants or financial advisory firms; or public registers for background searches). Wilshire Indexes, generally, does not disclose private, personal and confidential information with outside organizations except for third party processors and service providers that are essential in administering our operations, or as otherwise required or permitted by law. As is common in the industry, non-affiliated companies may from time to time be used to provide certain services, such as preparing and mailing prospectuses, reports and account statements. These companies may be provided access to private, personal and confidential information solely to provide the specific service or as otherwise required or permitted by law. We may also provide confidential information to brokerage, financial advisory, or other third party financial intermediaries.
Wilshire Indexes reserves the right to disclose private, personal and confidential information where we believe in good faith that disclosure is required either under law or to cooperate with regulators or law enforcement authorities. In addition, we may disclose Personal Information to a non-affiliated third party upon the owner’s written request.
Wilshire Indexes takes seriously the obligation to safeguard private, personal and confidential information (including Personal Information). We maintain appropriate safeguards which includes the use of security procedures to prevent revealing such information.
Any questions regarding Wilshire Indexes Privacy Policy should be referred to the Chief Compliance Officer. As required by regulations, Wilshire Indexes will provide to its clients annually a statement regarding their rights to privacy.
Wilshire IndexesWilshire Indexes is a global index provider offering more than 30 index series, including the market leading FT Wilshire 5000 and FT Wilshire Global Equity Market Indexes, as well as modular custom solutions tailored to meet the specific benchmarking needs of its customers. Wilshire Indexes operates alongside Wilshire's investment management and consulting, OCIO, alternatives and analytics businesses.
Wilshire Advisors LLC.
The information contained in this document is confidential or proprietary and is intended for the exclusive use of the person(s) to whom it is provided. It may not be modified or otherwise provided, in whole or in part, to any other person or entity without prior written permission from Wilshire Indexes.
Wilshire Indexes reserves the right to update its Privacy Policy and the attached Privacy Statements and Notices at any time and, in such cases, will make an updated copy available to all relevant parties as required by relevant laws.
Appendix A
Privacy Policy Supplement for Data Subjects Whose Personal Information May Be Collected in or from the European Economic Area
In accordance with applicable EEA Laws, Wilshire OpCo UK Limited has adopted the following additional policies and procedures for gathering and treating Personal Data, further information can be found in the Privacy Notice for Data Subjects Whose Personal Information May Be Collected in or from the European Economic Area.
Gathering and Maintaining Accurate Information
It is important that the Personal Data we hold is accurate and current. Wilshire OpCo UK Limited personnel must make reasonable efforts to obtain and maintain accurate records for their relevant relationships. Wilshire OpCo UK Limited may need to request specific information from relevant individuals to confirm their identity.
It is in the sole discretion of the owner of Personal Data whether to share the information with Wilshire OpCo UK Limited . Reluctance to provide Wilshire OpCo UK Limited with all or some of the Personal Data requested by Wilshire OpCo UK Limited, may restrict our ability to accept an engagement from a client or prospect, provide all or some of services requested, enter into a contract with a client or prospect or to send information about us (e.g. marketing materials) to that client or prospect. If a client or prospect refuses to provide the Personal Data requested, please contact Wilshire OpCo UK Limited Compliance.
Use of Personal DataWilshire OpCo UK Limited will only process Personal Data for specific purposes where there is a lawful basis for doing so. The lawful basis, and purposes that we may rely on include but are not limited to:· We have received consent to do so (consent)
· In limited circumstances, we may obtain consent to send information about our products and services but, in such instances we will also provide a means for individuals to opt out of receiving further communications;
· It is required to perform a contract which we have executed with a third party contract) – this includes, but is not limited to, where we have entered into an agreement and the Personal Data is needed to ensure that the terms of the contract can be fulfilled;
· It is necessary to comply with a legal obligation (legal obligation) – these obligations include, for example, where we have a regulatory obligation to conduct customer due diligence or are required to provide information to tax authorities; or
· We (or a third party) having a legitimate interest which is not overridden by the interests or fundamental rights and freedoms of the person from whom we have obtained Personal Data (legitimate interest) – this includes the provision of services by us and our direct marketing activities. To this end, we may use Personal Data to deliver services to, complete work for or act on behalf of a client. Furthermore, we may also use Personal Data to inform a client about us and our services and to build a relationship with the client.
Where we use Personal Data to inform a client or prospect about us and our services, we will ensure that these are targeted and proportionate. We may use or disclose Personal Data if we are required by law to do so or if we reasonably believe that use or disclosure is necessary to protect Wilshire Indexes rights or to comply with judicial or regulatory proceedings, a court order or other legal process.
Change of Purpose and Anonymization
Wilshire OpCo UK Limited may only use Personal Data for the purposes for which we collect it, unless we reasonably consider that we need to use it for another reason which is compatible with the original purpose. If we need to use Personal Data for an unrelated purpose, we must notify the individual and explain the legal basis which allows us to do so. In some circumstances, and where it is attributable to a lawful basis, we may anonymize Personal Data so that it can no longer be associated with an individual, in which case it is no longer Personal Data.
Sharing Personal Data
When using Personal Data for the purposes and on the legal basis described in this Privacy Policy we may share Personal Data with other vendors that we work with. Depending on the nature of the relationship (e.g. a client, an employee, etc.) these other vendors may include, but are not limited to, accountants, tax advisors, payroll agents, auditors, lawyers, regulatory advisors, insurance brokers and IT providers. We may also have to share Personal Data with regulators, public institutions, courts or other third parties. Wilshire Indexes may not sell Personal Data nor may we distribute, disseminate or disclose Personal Data to third party sales or marketing agencies. When sharing Personal Data with others, Wilshire OpCo UK Limited will ensure that we have an appropriate legal basis to do so and will take all reasonable steps to ensure that Personal Data is treated in a manner that is consistent with applicable laws and regulations relevant to data protection and is not disclosed to any person who has no right to receive it.
Storage and Retention of Personal DataFor the purposes described above, Personal Data may be stored outside of the European Economic Area (“EEA”). Wilshire OpCo UK Limited must ensure that there is a legal basis and take all reasonable steps to ensure relevant safeguards are taken to secure such data transfer. Wilshire Indexes may only retain Personal Data for as long as necessary to fulfil the purposes for which it was collected, used and otherwise processed, including for the purposes of satisfying any legal, regulatory, accounting or reporting requirements. To determine the appropriate retention period for Personal Data, Wilshire OpCo UK Limited will consider the amount, nature, and sensitivity of the Personal Data, the potential risk of harm from unauthorized use or disclosure of Personal Data, the purposes for which we process the Personal Data and whether we can achieve those purposes through other means, and the applicable legal requirements. Upon expiry of the applicable retention period Wilshire OpCo UK Limited should take reasonable efforts to securely destroy Personal Data in accordance with applicable laws and regulations.
EEA Residents Rights In Relation to Their InformationIndividual subject to EEA Laws have rights which they can exercise under certain circumstances in relation to their Personal Data that we hold. These rights include:
· Request access to their Personal Data (commonly known as a “data subject access request”)
· Request certain information in relation to the processing of their Personal Data;
· Request rectification of their Personal Data;
· Request the erasure of their Personal Data;
· Request restrictions regarding the of processing of their Personal Data; or
· Object to the processing of their Personal Data. Some of the above rights may only be exercised in specific circumstances - they are not absolute.
EEA Residents may also have the right to make a complaint at any time to the Information Commissioner’s Office (ICO), the UK supervisory authority for data protection issues or, as the case may be, other competent supervisory authority of an EU member state. Should a Wilshire OpCo UK Limited employee become aware of any such complaint being filed, they should contact Wilshire OpCo UK Limited Compliance immediately.
Right to Withdraw ConsentOwners of Personal Data may withdraw consent at any time where consent is the lawful basis for processing such Personal Data. Should such withdrawal impede our ability to comply with applicable laws and regulations, Wilshire OpCo UK Limited may be unable to provide further services to that client.
FeesIn general Wilshire OpCo UK Limited will not charge a fee to exercise any of the individual rights mentioned in this Privacy Policy. However, we may charge a reasonable fee if a request to exercise an individual right is manifestly unfounded or excessive. Wilshire OpCo UK Limited may also refuse to comply with any request in such circumstances.
Exhibit 1
Privacy Notice for Data Subjects Whose Personal Information May Be Collected in or from the European Economic Area
The scope and purpose of this Privacy Notice
Wilshire OpCo UK Limited (“we” or “Wilshire Indexes ”) is a global company and thus may conduct business and collect Personal Data (as defined below) from individuals and institutions located within the European Economic Area (“EEA”). This Privacy Notice explains how Wilshire Indexes uses Personal Data that we collect from individuals and institutions located within the EEA in accordance with applicable data privacy laws and the General Data Protection Regulation (“GDPR”). Any capitalized terms or other terms not defined herein shall have the meaning ascribed to them in the GDPR. To the extent of any conflict between this Notice and the rest of our Privacy Policy, this Notice shall control only with respect to EEA Individuals and their Personal Data, and to the extent of such conflict.
Data ControllerWilshire Indexes typically acts as the controller of Personal Data collected regarding EEA Individuals through the Websites or the Services we provide. This Notice describes our general privacy and security practices in connection with your Personal Data. For our contact information, see the section titled “Further Information” below.
Personal Data
The term “Personal Data” as used in this Privacy Notice means any information relating to an identified or identifiable natural person (“Data Subject”); an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.
What information do we collect about you, how do we collect it and what do we use it for?
The kinds of Personal Data we may collect depends on the nature of the relationship you have with us. This information may include your contact details such as your address, email address and telephone number and, where required for contractual, legal or regulatory obligations, additional information (including, but not limited to your date of birth, bank account details and tax identification documents or copies of identification documents). In most cases, we will collect the Personal Data directly from you (e.g., through account applications, investment policy statements and electronic or verbal correspondence), but we may also obtain it from other sources (e.g. through public registers for background searches).In accordance with applicable data privacy laws and the GDPR, we will only process your Personal Data for specific purposes where there is a lawful basis for doing so. The lawful basis, and purposes that we may rely on are:
• You have consented to us doing so (consent) – in limited circumstances, we may obtain your consent to send you information about our products and services (but, in such cases, you can opt out of receiving such communications at any time through the method provided in the communications themselves or by using the contact information provided below);
• We need it to perform the contract we have entered into with you (contract) – this includes, but is not limited to, where we have entered into an agreement with you and the Personal Data is needed to ensure that the terms of the contract can be fulfilled;
• We need it to comply with a legal obligation (legal obligation) – these obligations include, for example, where we have a regulatory obligation to conduct customer due diligence or are required to provide information to tax authorities; or
• We (or a third party) have a legitimate interest which is not overridden by your interests or fundamental rights and freedoms (legitimate interest) – this includes the provision of services by us and our direct marketing activities. To this end, we will use your Personal Data to deliver services to you and/or to work or act for you. Furthermore, we will also use your Personal Data to inform you about us and our services and to build our relationship with you.
Where we use your Personal Data to inform you about us and our services, we will ensure that these are targeted and proportionate.
Please note that we may use or disclose Personal Data if we are required by law to do so or if we reasonably believe that use or disclosure is necessary to protect our rights and/or to comply with judicial or regulatory proceedings, a court order or other legal process.
What might we need from you?
We may need to request specific information from you to help us confirm your identity and ensure your right to access Personal Data (or to exercise any of your other rights). This security measure is designed to ensure that Personal Data is not disclosed to any person who has no right to receive it.
Accuracy of information
It is important that the Personal Data we hold about you is accurate and current. Please let us know if your Personal Data changes during your relationship with us.
What if you do not provide the personal data we request?
It is in your sole discretion to provide Personal Data to us. If you do not provide us with all or some of the Personal Data we request, we may not be able to accept an engagement from you, to provide all or some of our services, to enter into a contract with you or to send you information about us (e.g. marketing materials).
Change of purpose and anonymization
We will only use your Personal Data for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason which is compatible with the original purpose. If we need to use your Personal Data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so. In some circumstances, and where it is attributable to a lawful basis, we may anonymize your Personal Data so that it can no longer be associated with you, in which case it is no longer Personal Data.
With whom will we share your information?
When using your Personal Data for the purposes and on the legal basis described above we may share your Personal Data with vendors that we work with. Depending on the nature of your relationship with Wilshire Indexes these other vendors may include, but are not limited to, accountants, tax advisors, payroll agents, auditors, lawyers, regulatory advisors, insurance brokers and IT providers. We may also have to share your Personal Data with regulators, public institutions or courts. Wilshire Indexes will not sell your Personal Data nor will we distribute, disseminate or disclose your Personal Data to third party sales or marketing agencies. When sharing your Personal Data with others, we will ensure that we have an appropriate legal basis to do so and will take all reasonable steps to ensure that your Personal Data is treated in a manner that is consistent with applicable laws and regulations.
Will your information be stored outside of the EEA?
For the purposes described above, your Personal Data will likely be stored outside of the European Economic Area (“EEA”). In such cases, we will always ensure that there is a legal basis and a relevant safeguard method for such data transfer.
We will only retain your Personal Data for as long as necessary to fulfil the purposes for which it was collected, used and otherwise processed, including for the purposes of satisfying any legal, regulatory, accounting or reporting requirements. For retention of data, we abide by applicable law related to the services we provide to you in the jurisdictions where we provide them.
Your rights in relation to your information
You have rights as an individual which you can exercise under certain circumstances in relation to your Personal Data that we hold. These rights are to:
• Request access to your Personal Data (commonly known as a “data subject access request”) and request certain information in relation to its processing;
• Request rectification of your Personal Data;
• Request the erasure of your Personal Data;
• Request the restriction of processing of your Personal Data;
• Object to the processing of your Personal Data.
Please note, some of the above rights may only be exercised in specific circumstances ‐ they are not absolute. In addition, you may also have the right to make a complaint at any time to the Information Commissioner’s Office (ICO), the UK supervisory authority for data protection issues or, as the case may be, another competent supervisory authority of an EU member state.
Right to withdraw consent
You may withdraw consent at any time where consent is the lawful basis for processing your Personal Data. Should you withdraw consent for processing or otherwise object to processing that impedes our ability to comply with applicable laws and regulations, you may be unable to avail yourself of the services we provide.
How long will we retain your information?
We will only retain your Personal Data for as long as necessary to fulfil the purposes for which it was collected and processed, including for the purposes of satisfying any legal, regulatory, accounting or reporting requirements.
To determine the appropriate retention period for your Personal Data, we will consider the amount, nature, and sensitivity of the Personal Data, the potential risk of harm from unauthorized use or disclosure of your Personal Data, the purposes for which we process your Personal Data and whether we can achieve those purposes through other means, and the applicable legal requirements. If you would like to know more information about our retention practices, please contact us using the information provided below.
In some circumstances we may anonymize your Personal Data so that it can no longer be associated with you, in which case it is no longer Personal Data. Upon expiry of the applicable period we will destroy your Personal Data in accordance with applicable laws and regulations.
Fees
You will in general not have to pay a fee to exercise any of your individual rights mentioned in this Privacy Notice. However, we may charge a reasonable fee if your request to exercise your individual rights is manifestly unfounded or excessive. Alternatively, we may refuse to comply with the request in such circumstances.
Changes to this Privacy Notice
Wilshire Indexes reserves the right to update this Privacy Notice at any time and, in such cases, we will make an updated copy available on our website, or where required by law, we will contact you directly.
Further information
If you have any queries, questions, concerns or require any further information in relation to the Privacy Notice or you wish to exercise any of your rights, please do not hesitate to contact Wilshire Indexes at:
Privacy@Wilshire.com
Appendix B
Privacy Policy Supplement for US Clients
Wilshire OpCo UK Limited and its affiliates (‘we’ or "Wilshire Indexes ") values your trust and wants you to be familiar with how we collect, use, and disclose information. This Privacy Policy describes our practices in connection with information that we may collect, maintain, and use in the course of providing our products and services though our website(s).Wilshire Indexes is committed to ensuring that your privacy is protected. Should we ask you to provide certain information by which you can be identified when using this website, you can be assured that it will only be used in accordance with this Privacy Notice.
Personal Information We May Collect
The term Personal Information as used in this policy means any information that identifies you as an individual or relates to an identifiable person. The kinds of Personal Information we may collect depends on the nature of the relationship you have with us. This information may include your name, job title, and contact details such as your address, email address and telephone number. Occasionally additional information, such as demographic information, preferences, interests, and other information relevant to customer surveys may also be collected.
How We May Collect Personal Information
In most cases, we collect information directly from the person or entity with whom we have the relationship (e.g. through account applications, customer surveys, or general website usage).
How We May Use Personal Information
We require and use this information to understand your needs and provide you with a better service. More particularly, we use information we gather to do the following:
• Maintain internal records;
• Improve our products and services;
• Send promotional emails with information which we think you may find interesting using the email address which you have provided;
• andContact you by email, phone, fax or mail for market research purposes.
Security
We are committed to ensuring that your information is secure. In order to prevent unauthorized access or disclosure we have put in place suitable physical, electronic, and managerial procedures to safeguard and secure the information we collect online.
Controlling Your Personal Information
We do not share your Personal Information with third parties for use in marketing their products and services. However, we may share your Personal Information in the following circumstances:
• Where we have your permission to do so;
• With unaffiliated service providers (for example, printing and mailing companies); and
• With government agencies, other regulatory bodies or law enforcement officials.
Our service providers are obligated to keep the Personal Information we share with them confidential and use it only to provide services specified by Wilshire Indexes .
Retention Period
We will retain your Personal Information for the period necessary to fulfill the purposes outlined in this Privacy Policy unless a longer retention period is required or permitted by law.
Updates to This Privacy Policy
We may change this Privacy Policy. Any changes will become effective when we post the revised Privacy Policy on our website. Your use of our website following these changes means that you accept the revised Privacy Policy.
Contact Us
If you have any questions about this Privacy Policy, please contact Wilshire Indexes via email at: Privacy@Wilshire.com
