Mutual Funds Privacy Code

A word about your privacy.

We respect your privacy. Not only do we respect it, but we also protect it. The private information you share with us stays with us.

We do, however, provide or collect your information as is required by legislation to those to whom you have authorized us to release information. They include the financial institutions you’ve asked us to deal with, and specialized service providers (like the people who print our account statements). All of the above must meet our rigorous privacy standards. We’ve provided this booklet for your interest and information.

This policy does have a legal tone that reflects both the importance of the issue and it is consistent with recent federal and provincial legislation. If you want more information regarding our privacy principles, please read on.

If you have privacy questions or concerns, please contact one of our Mutual Fund Associates at 1-877-464-5678 .
You can also contact our Privacy Office by mail at
111 Gordon Baker Road, Toronto, Ontario M2H 3R1.

Introduction

ING Direct Funds Limited ("ING") is committed to keeping personal information accurate, confidential, secure and private. The ING Privacy Code is an embodiment of this commitment.

This Privacy Code is based on the Personal Information Protection and Electronic Documents Act (PIPEDA), the Canadian Bankers Association (CBA) Model Privacy Code and on the Canadian Standards Association (CSA) Model Code for the Protection of Personal Information (CAN/CSA-Q830-96) and any applicable Provincial privacy laws. It describes how ING subscribes to the principles of all the above laws and codes. A copy of the PIPEDA is available at www.privcom.gc.ca. Copies of the CBA and CSA Model Codes are available on request from the Canadian Bankers Association at 1-800-263-0231.

The Scope Of This Privacy Code

This Privacy Code describes the principles ING will use to protect the privacy of personal information in its possession or control.

This Privacy Code does not apply to information about business customers who carry on business as corporations, partnerships or in other forms of association. ING does, however, protect the confidentiality of such information in accordance with the law and ING’s own policies. This Privacy Code does apply to personal information of individual owners of sole proprietorships.

Changes To This Privacy Code

In order to ensure that this Privacy Code is kept up to date, we reserve the right to change this Privacy Code from time to time. Any changes will be effective 30 days following ING providing you with notice. Notice of changes to the Privacy Code may be distributed through ING statements, newsletters and/or posted on the ING web site. If you access or choose to continue to be serviced by ING after the effective date of the change, you automatically accept the change.

Definition Of Terms Used In This Privacy Code

Mutual Fund Associates
The client services representatives at ING to whom the public is encouraged to address their initial questions and concerns about an ING product or service. Mutual Fund Associates may be reached by telephone at: 1-877-464-5678 or e-mail at: funds@ingdirect.ca.

Direct Marketing
Promotions targeted to individuals whose personal information indicates that a certain product may be of interest to them. This includes mail and telemarketing initiatives. This does not include statements, statement inserts, and messages in banking machines, bank machine receipts, and announcements in electronic bulletin boards, through personal bankers or customer relationship management.

Personal Information
Information about an identifiable individual, but does not include the name, title or business address or business telephone number of an employee of an organization.

Privacy Office

The office at ING who is responsible for ensuring the protection of individuals’ personal information. The Privacy Office may be contacted by mail at:

PRIVACY OFFICE
ING Direct Funds Limited
111 Gordon Baker Road
Toronto, Ontario M2H 3R1

The Ten Principles Of Privacy In Summary

These ten principles of privacy are interrelated and must be read in conjunction with the accompanying commentary.

  1. ING’s Accountability
    ING is accountable for all personal information in its possession or control, including any personal information transferred to third parties for processing. ING has established policies and procedures to comply with this Privacy Code, and has designated one or more persons accountable for compliance.
  2. Identifying The Purposes Of Collecting Personal Information
    ING will inform individuals of the purpose for which personal information will be used before or when they consent to its collection.
  3. Obtaining Consent
    ING will obtain consent before or when it collects, uses or discloses personal information about an individual. An individual can provide consent to the collection, use and disclosure of personal information about them expressly, implicitly, or through an authorized representative. An individual can withdraw consent at any time, with certain exceptions. ING will collect, use or disclose personal information without an individual’s consent only in limited circumstances as permitted by law.
  4. Limits For Collecting Personal Information
    ING limits the amount and type of personal information it collects. ING will collect personal information only for the identified purposes or as otherwise permitted by law.
  5. Limits For Using, Disclosing And Keeping Personal Information
    ING will use or disclose personal information only for the reasons it was collected, unless an individual gives consent to use or disclose it for another reason. Under certain circumstances, ING may have a legal duty or right to disclose personal information without consent. ING will keep personal information only as long as necessary for the identified purposes.
  6. Keeping Personal Information Accurate
    ING will keep the personal information in its possession or control accurate, complete, current and relevant, based on the most recent information available to ING. Individuals may challenge the accuracy and completeness of personal information about them and have it amended as appropriate.
  7. Safeguarding Personal Information
    ING protects personal information with safeguards appropriate to the sensitivity of the information.
  8. Making Information About Policies And Procedures Available
    ING will be open about the procedures used to manage personal information. Individuals will have access to information about these procedures through this Privacy Code, by contacting our Mutual Fund Associates or by contacting the Privacy Office. The information will be available in a format that is easy to understand.
  9. Providing Access To Personal Information
    When an individual requests it, ING will advise the individual what personal information ING has in its possession or control about the individual, what it is being used for, and to whom it has been disclosed.
    When an individual requests it, ING will give an individual access to personal information about them which is in the possession or control of ING. In certain situations, however, ING may not be able to give individuals access to all of their personal information.
  10. Handling Complaints And Questions
    Individuals may challenge ING’s compliance with this Privacy Code. Complaints and inquiries should be directed to our Mutual Fund Associates or sent to the Privacy Office.

Principle 1

ING’S Accountability
ING is accountable for all personal information in its possession or control, including any personal information transferred to third parties for processing. ING has established procedures to comply with this Privacy Code, and has designated one or more persons to be accountable for compliance.

1.1Senior management of ING will have ultimate accountability for protecting personal information. Senior management has delegated the day-to-day management of procedures involving personal information protection to one or more persons.
1.2ING’s Privacy Office is responsible for overall personal information protection and ING’s compliance with this Privacy Code. In addition, Mutual Fund Associates are able to respond to most inquiries about the protection of personal information.
1.3

ING will allow the following categories of ING employees of ING's parent, ING Bank of Canada to access individuals' personal information in ING’s control:

Sales and Service Personnel;
Marketing Personnel;
Security Personnel;
Audit Personnel;
IT Personnel;
Operations Personnel;
Legal & Compliance Personnel;
Risk Management Personnel; and
Credit and Lending Personnel.

1.4ING is also accountable for personal information that has been transferred to a third party for processing. ING’s policies for safeguarding personal information transferred to third parties are set out in sections 7.4 of this Privacy Code.
1.5

To practice the principles of this Privacy Code, ING:

  • has established procedures to protect the privacy of personal information;
  • has established procedures to receive and respond to questions and complaints;
  • gives the public access to this Privacy Code; and
  • has trained ING staff to understand and follow ING’s procedures.
To practice the principles of this Privacy Code, ING: ING also oversees compliance with this Privacy Code through regular audits and other compliance procedures. Senior management reports to a committee of its Board of Directors regarding compliance with this Privacy Code.

Principle 2

Identifying The Purposes of Collecting Personal Information
ING will identify the purposes of collecting personal information, before or when consent is provided.

2.1Except as noted below, when an individual applies for a product or service, ING will make the individual aware of the purposes for which ING is requesting the personal information. If ING identifies other purposes for which the personal information may be used, ING will seek the individual’s consent prior to starting these uses. ING will explain that it is the individual’s right to refuse permission for ING to use personal information for any such other purposes.

In some cases ING will not explain those purposes or obtain the individual’s consent. (See section 3.4 and section 5.1 for details).
2.2ING will clearly identify the purposes for which it is collecting personal information in writing, verbally (either in person or over the telephone), or by any other means it communicates with individuals.
2.3Individuals can ask for information about the purposes for which ING collects personal information when they phone or visit ING, or write to the Privacy Office.
2.4

Unless additional purposes are identified to an individual before or at the time of collection, ING will collect personal information for the following purposes:

  • To help identify new clients;
  • to determine the suitability of products or services for an individual or the eligibility of an individual for products and services;
  • to set up and manage ING's products and services offered by approved distributors that meet an individual’s needs;
  • to offer products and services to meet those needs;
  • to provide ongoing service; and
  • to meet legal and regulatory requirements, such as requirements under the Income Tax Act and credit reporting requirements.
2.5ING takes care to explain purposes, which are not as obvious as others. The purposes for collecting a name or address are obvious and do not need to be explained, but the purposes for collecting other information may not be as self-evident.

ING may collect, disclose and use personal information for some or all of the following purposes:

  • references are used to verify information on an application;
  • your date of birth ("DOB") and other identifying information may be collected and used to verify your identity. ING may also collect and use personal information obtained from credit bureaus, credit reporting agencies, credit insurers and other financial institutions in order to help verify a new client’s identity;
  • a Social Insurance Number ("SIN") is collected because the Income Tax Act requires it for the individual’s income tax reporting. In addition, a SIN may be used to match credit bureau information to help verify the identity of a client;
  • personal information is disclosed to credit bureaus, credit reporting agencies, credit insurers, and other financial institutions, to determine eligibility for financial products. In certain cases, individuals have a right to access their personal information in the control of these institutions. Individuals should contact our Mutual Fund Associates or the Privacy Office to find out how to access their personal information in the control of these institutions;
  • personal information is used by ING to determine initial and ongoing eligibility for financial products and to notify the clients of such products by website, mail, e-mail or phone;
  • personal information may be collected, used and disclosed to investigate client complaints;
  • personal information may be collected and used to ensure that any of your instructions can be properly verified;
  • personal information is shared, to the extent permitted by law, with ING Bank of Canada for the purposes of serving you better.  For example, we include in your account statements, a statement for each of your accounts held at ING and ING Bank of Canada;
  • personal information may be collected, used and disclosed to investigate specific transactions or patterns of transactions for the purpose of detecting unauthorized or illegal activities;
  • should you open an account to be operated on behalf of a third party, personal information of that third party will be collected from you in accordance with money laundering legislation; and
  • personal information may be used by ING and disclosed to ING's affiliates to satisfy regulatory reporting requirements and international banking standards for financial institutions.

Principle 3

Obtaining Consent
ING will obtain consent before or when it collects, uses or discloses personal information about an individual. An individual can provide consent to the collection, use and disclosure of personal information about them expressly, implicitly or through an authorized representative.

ING will collect, use or disclose personal information without an individual’s consent only in limited circumstances as permitted by law.

Subject to certain legal and contractual restrictions and reasonable notice, an individual can refuse or withdraw their consent to the collection, use or disclosure of personal information about them at any time.

3.1ING will obtain consent before or when it collects, uses or discloses personal information. Generally, ING will seek consent to use and disclose personal information at the same time it collects the information. In some circumstances, ING may identify a new purpose and seek consent to use and disclose personal information after it has been collected.
3.2ING will explain to individuals in plain language how personal information will be used or disclosed before they give their consent.
3.3

Consent to the collection, use and disclosure of personal information can be expressed, implied, or given through an authorized representative of the individual.

  • Individuals can express consent verbally, such as when information is collected over the telephone, in writing, such as when completing and signing an application or electronically, such as when applying through a computer.
  • Individuals can imply their consent, for example, by using an ING product or service. In such a case, ING may assume that the individual consents to the use of the personal information.
  • Individuals can also give consent through an authorized representative, such as a legal guardian or a person with a power of attorney. This may be necessary, for example, if ING cannot obtain express consent from an individual who is a minor, seriously ill, or mentally incapacitated.
3.4

ING may collect, use or disclose personal information without the individual’s knowledge and consent only in limited circumstances as permitted by law.

  • ING may collect, use and disclose personal information without the individual’s knowledge or consent if it is clearly in the individual’s best interests to do so and consent can not be sought in a timely manner. An example of such a circumstance is when an individual is seriously ill.
  • ING may collect, use and disclose personal information without individuals’ knowledge or consent in certain circumstances where the information is publicly available. An example would be the name, address and phone number of a subscriber to a telephone directory that is available to the public where the subscriber can refuse to have their personal information appear in the telephone directory.
3.5

Subject to certain legal or contractual restrictions and reasonable notice, an individual may refuse or withdraw consent at any time.

  • ING will inform individuals of the consequences of refusing or withdrawing consent when individuals seek to do so. Refusing or withdrawing consent for ING to collect, use or disclose personal information could mean that ING cannot provide the individual with a product, service or information of value to the individual. For example, if an individual does not allow ING to share certain personal information with a mutual fund company, ING may be unable to provide the individual with the products offered by that mutual fund company.
  • ING, however, will not unreasonably withhold products, services or information from individuals who refuse to give consent or who withdraw consent.
  • ING is required by law to collect certain types of personal information in order to verify the identity of its clients. If an individual does not allow ING to collect and use this information, or if the client later attempts to withdraw their consent, ING may not be able to open an account or maintain the account on behalf of that client.

Principle 4

Limits On The Collection Of Personal Information
ING limits the amount and type of personal information it collects. ING will collect personal information only for purposes it has already identified to the individual or as permitted by law. ING will collect personal information using procedures which are fair and lawful.

4.1ING will collect only the amount and type of information needed for the purposes documented by ING and identified to the individual.
4.2ING will collect personal information about an individual primarily from that individual. Except as permitted by law, ING will only collect personal information from external sources if individuals have consented to such collection.

Principle 5

Limits On Using, Disclosing And Keeping Personal Information
ING will use or disclose personal information only for the reasons it was collected, unless consent is given to use or disclose it for another reason.

Under certain exceptional circumstances, ING may have a legal duty or right to disclose personal information without the individual’s knowledge or consent.

ING will keep personal information only as long as necessary for the identified purposes.

5.1

ING may disclose personal information without consent when required or permitted by law. Examples of such disclosure include:

  • Subpoenas, search warrants and other court and government orders;
  • debt collection or demands from other parties who have a legal right to personal information; and
  • disclosure of personal information to a lawyer (or, in Quebec, a notary or an advocate) who represents ING.
5.2

In any of the circumstances referred to in Principle 5.1, ING will protect the interests of its clients by making sure that:

  • orders or demands appear to comply with the laws under which they were issued, and
  • ING does not comply with casual requests for personal information from government or law enforcement authorities.
ING may notify individuals that an order or demand has been received, if the law does not prohibit such notification. ING may notify individuals by telephone, or by letter to the client’s usual address.
5.3ING may want to use personal information in its possession or control to market products and services to individuals, either directly through ING or through its existing subsidiaries or affiliates. ING will obtain the individual’s consent before using or disclosing personal information for this purpose.

When an individual applies for a product or service and provides personal information, ING will advise the individual that his/her personal information may be used by ING to market other products and services to the individual.
5.4ING will collect health records only for specific purposes. Subject to anything herein, it will not disclose health records to affiliates, and vice versa.
5.5If personal information has been used to make a decision about an individual, ING will keep the personal information long enough for the individual to have access to it after the decision has been made.
5.6ING will destroy, erase or make anonymous any personal information no longer needed for its identified purposes or for legal requirements.

Principle 6

Keeping Personal Information Accurate
ING will keep the personal information in its possession or control accurate, complete, current and relevant, based on the most recent information available to ING.

Individuals may challenge the accuracy and completeness of personal information about them and have it amended as appropriate.

6.1ING will make reasonable efforts to minimize the possibility of using inaccurate, incomplete or outdated personal information to make a decision about the individual.
6.2ING will update personal information only if it is necessary for the purposes for which it was collected.
6.3ING will make reasonable efforts to keep personal information in its possession and control accurate and current if the information is used on an ongoing basis, unless limits on the need for accuracy are clearly set out by ING.
6.4ING will also rely on individuals to keep certain personal information relating to them accurate, complete and current. If an individual demonstrates to ING that personal information relating to them is inaccurate, incomplete, out of date or irrelevant, ING will revise or delete the personal information. If necessary, ING will disclose the revised personal information to any third parties to whom ING disclosed wrong or outdated information in order to permit them to revise their records.
6.5If ING does not agree to revise personal information as requested by the individual, the individual may challenge ING’s decision. ING will make a record of this challenge, and, if necessary, disclose the challenge by the individual to any third parties to whom ING has disclosed the personal information.

Principle 7

Safeguarding Personal Information
ING will protect personal information with safeguards appropriate to the sensitivity of the information.

7.1ING will safeguard personal information in its possession or control from loss or theft and from unauthorized access, disclosure, duplication, use or modification.
7.2The safeguards employed by ING to protect personal information will vary depending on the sensitivity, amount, distribution, format and storage of the personal information. ING stores most of your information electronically, recent paper records containing individuals’ personal information are stored in files kept onsite at our Toronto head office, and older records containing individuals’ personal information may be stored at an offsite storage facility. ING will give the highest level of protection to the most sensitive personal information.
7.3

ING will safeguard personal information in its possession or control through security measures. For example:

  • physical security, such as secure locks on filing cabinets and restricted access to offices;
  • organizational security, such as controlled entry in data centres and limited access to relevant information; and
  • electronic security, such as passwords, personal identification numbers and encryption.
7.4

ING may transfer personal information to third parties for processing, including market research, data processing services, or for other goods and services.  ING will require these third parties to safeguard all personal information in a way that is consistent with ING's measures and/or as regulated by law.

When ING contracts with third parties, they are given only the information necessary to perform the services as set out in the contract.  The third parties are prohibited from storing, analyzing or using the personal information transferred by ING for any other purpose.  The third parties are required to protect personal information transferred by ING in a manner that is consistent with privacy policies and practices established by ING.

7.5ING will use care when disposing of or destroying personal information in order to prevent unauthorized access to the information.

Principle 8

Making Information About Policies And Procedures Available To Individuals
ING will be open about the procedures used to manage personal information. Individuals will have access to information about these procedures through ING’s Privacy Code, by contacting our Mutual Fund Associates or by writing to the Privacy Office. The information will be available in a format that is easy to understand.

8.1

ING will make this Privacy Code available to the public.

  • Paper copies of this Privacy Code will be mailed to all new clients; and
  • An electronic version of this Privacy Code is available on ING’s website at www.ingdirectfunds.ca.
8.2

Information about this Privacy Code will be available in a format that is easy to understand.

  • ING has produced a summary of this Privacy Code at the beginning of this document and at www.ingdirectfunds.ca; and
  • The contact information of the Mutual Fund Associates and the Privacy Office are provided in the summary as in this Privacy Code, so individuals know where to address complaints and questions about ING’s personal information policies and procedures.
8.3

ING may make information about its procedures available in a variety of ways, depending on the nature of the services individuals are using and the sensitivity of the personal information.

  • ING may make brochures available on premises, mail information to its clients, establish a toll-free telephone service or provide on-line access.

Principle 9

Access To Personal Information
When an individual requests it, ING will advise what personal information ING has in its possession or control about the individual, what it is being used for and to whom it has been disclosed.

When an individual requests it, ING will give the individual access to personal information about them which is in the possession or control of ING. In certain exceptional situations ING may not be able to give individuals access to all of the personal information about them.

9.1An individual has the right to know, on request, what personal information about the individual ING has in its possession or control, a right to access that personal information and to know to which third parties ING has disclosed that information. Individuals may direct their requests by telephone to the Mutual Fund Associates or, in writing, to the Privacy Office.
9.2ING has established procedures for responding to requests for access to personal information. Individuals must be specific about the personal information that may be in ING’s possession or control. In the unlikely event that ING determines that there will be a cost to the individual in granting such access, ING shall inform the individual of the costs permitted by law prior to granting such access.
9.3ING will identify from whom it collected the personal information, to whom it has disclosed the personal information, and how and when the information was disclosed. ING will take this data from its records, and will provide it to the individual in a form that is easy to understand, providing explanations for abbreviations and policies. ING will provide the personal information and the above data to the individual within a reasonable time.
9.4

In some cases, ING may not provide access to personal information that is in its possession or control. This may occur when:

  • providing access to personal information would be likely to reveal personal information about a third party;
  • providing the personal information could result in a threat to the security of another individual;
  • disclosing the information would reveal confidential commercial information;
  • the personal information is protected by solicitor-client privilege;
  • the information is the result of arbitration or other formal dispute resolution process; or
  • the information has been collected for the purposes of a legal investigation.
9.5

ING will not record in individual files when personal information was disclosed to third parties for routine purposes. For example:

  • reporting to Revenue Canada
  • regular updating of credit information to credit bureaus
  • indicating to third parties when cheques are returned for NSF (not sufficient funds)
9.6If ING denies the individual’s request for access to personal information, ING will advise the individual of the reason for the refusal. The individual may then challenge ING’s decision.

Principle 10

Handling Individuals’ Complaints And Questions
Individuals may challenge ING’s compliance with this Privacy Code. ING will have policies and procedures to receive, investigate, and respond to individuals’ complaints and questions.

10.1ING has policies and procedures to receive, investigate, and respond to individuals’ complaints and questions relating to privacy. Individuals are advised to direct their complaints and questions by telephone to the Mutual Fund Associates or in writing to the Privacy Office.
10.2ING will investigate all complaints. If it finds a complaint justified, ING will attempt to resolve it. If necessary, ING will modify its policies and procedures to ensure that other individuals will not experience the same problem.
10.3If individuals are not satisfied with the way ING  has responded to their complaint, they can contact the Privacy Commissioner, the Ombudsman for Banking Services and Investment or the Mutual Fund Dealers Association.

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