TERMS & CONDITIONS

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Our privacy policy explains how and why we collect, store, use and share personal information. It also explains your rights in relation to your personal information that we collect, store, use and share.

Our privacy policy explains how and why we collect, store, use and share personal information. It also explains your rights in relation to your personal information that we collect, store, use and share.

What is personal information?

“Personal information” is any information relating to an identified or identifiable individual.

“Special category personal information” is personal information revealing racial or ethnic origin, political opinions, religious beliefs, philosophical beliefs or trade union membership, genetic and biometric data, or data concerning health, sex life or sexual orientation.

Who we are

“We”, “us”, “our” refers to IW Capital Ltd. When we collect, store and use personal information we are subject to the General Data Protection Regulation as the controller of that personal information.

Personal information we collect

We may collect and use the following personal information:

  • Your name and contact information, including email address and telephone number and company details;
  • Information to enable us to check and verify your identity;
  • Your billing information, transaction and payment card information;
  • Information to enable us to undertake credit or other financial checks on you;
  • Your gender information;
  • Location data;

Personal information is required to provide services to you. If you do not provide personal information we ask for, it may delay or prevent us from being able to do so.

How we collect personal information

We will collect personal information directly from you in person, by telephone, text or e-mail and via our website.

We may also collect information from publicly accessible sources; or directly from a third party; or from a third party with your consent; from cookies on our website See ourcookie policy  on our website; via our IT systems, for example automated monitoring of our websites and other technical systems, such as our computer networks and connections, access control systems, communications systems, email and instant messaging systems;

How we use personal information

Under data protection law, we can only use your personal information if we have a lawful reason for doing so. This can be:

  • To comply with our legal and regulatory obligations;
  • For the performance of our contract with you or to take steps at your request before entering into a contract;
  • For our legitimate interests or those of a third party. A legitimate interest is when we have a business or commercial reason to use your information, so long as this is not overridden by your own rights and interests; or
  • Where you have given consent.

FCA Supervisory Notice

On 20 December 2023 the FCA issued a First Supervisory Notice and a series of requirements to RCWatches Ltd such that it (quoting directly from the notice): has decided to

- vary with immediate effect the Part 4A permissions granted to RC Watches Ltd by removing all regulated activities from those to which the permission relates with the effect of this Variation being that RCWatches Ltd no longer has permission to conduct regulated activity.

In addition the FCA has imposed the following requirements:

-RCWatches Ltd must not, without the prior written consent of the FCA, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets, and any funds it holds for, or to the order of, its customers or investors (whether in the United Kingdom or elsewhere), whether held by the Firm as at the date of the imposition of the Requirements or acquired thereafter.

- By close of business on 3 January 2024, RCWatches Ltd must publish in a prominent place on every website in its name (or that it operates) in a form to be agreed in advance with the FCA, a notice setting out the terms and effects of the Requirements and Variation.

- RCWatches Ltd must, by 5pm on 4 January 2024 notify all consumers and creditors in writing of the imposition of the terms and effects of these requirements ; and

-RCWatches Ltd must secure all books and records and preserve all information and systems in relation to all activities carried on by it, including but not limited to regulated

activities, and must retain these in a form and at a location within the UK, to be notified to the FCA

The requirements include provision for RCWatches Ltd to continue dealing with or disposing of any of its own assets in the ordinary and proper course of business provided that the sum or value of such dealings or disposals, whether as a single transaction or a combination of related transactions, does not exceed £1,000 (or £3,000 in the case of legal expenses).

The effect of these requirements can be found here:

https://register.fca.org.uk/s/firm?id=0014G000034VEWBQA4

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