This Privacy Notice (OCTL Privacy Notice) sets out how Osborne Clarke Trustees Limited (OCTL), acting as a professional trustee, may process personal data. The OCTL Privacy Notice supplements and should be read alongside Osborne Clarke’s Privacy and Confidentiality Policy, available here. All capitalised terms in this OCTL Privacy Notice that are not defined within the Notice have same the meaning as in Osborne Clarke's Privacy and Confidentiality Policy.

Scope of OCTL Privacy Policy

OCTL acts as trustee of trusts. In this capacity it is required to consider how it retains and uses Personal Data and Confidential Information about the settlor, testator, protector and beneficiaries of such trusts (Trust Related Parties).

  • When acting as trustee, we may collect, store, and use Personal Data about the Trust Related Parties that is:
    • derived from the trust deed and supplementary documents;
    • provided to us and required for registering with HMRC’s Trust Registration Service;
    • required by us to comply with applicable statutory or regulatory obligations, Common Reporting Standards and US tax law reporting requirements;
    • about any of the Trust Related Parties which any of the Trust Related Parties provides to us.
  • We may use Personal Data about Trust Related Parties to:
     
    • contact them in relation to the trust;
    • verify their identity prior to making a distribution;
    • enable us to exercise our trustee powers and duties including an overriding duty to act in the interests of beneficiaries; and
    • comply with legal, taxation or regulatory requirements.
  • We may use Personal Data about Trust Related Parties for these purposes where one or more of the following applies:
    • it is necessary to do so in our legitimate interests or those of other parties (such as a settlor or trustee) in connection with the set-up or administration of a trust, where those interests are not overridden by the privacy or other legal rights of the relevant Trust Related Party;
    • we need to do so, in order to comply with the law and the obligations placed on us as trustee;
    • where the relevant Trust Related Party has consented.
  • Where we have a legal basis for doing so we may also sometimes collect and use ‘special category’ or sensitive Personal Data about a Trust Related Party (such as information relating to their health, ethnic origin or political, religious or philosophical beliefs) to exercise our trustee powers and duties.
  • We will retain Personal Data of Trust Related Parties for as long as necessary to provide our services and fulfil our legal obligations. Osborne Clarke’s Privacy and Confidentiality Policy has more details regarding our data retention policies.

Questions

If you have any questions regarding this OCTL Privacy Policy, please contact us at: Privacy.UK@osborneclarke.com