Last Updated: 23 May 2019
SWARM Foundation is the creator of SWARM, an infrastructure builder that allows digital securities issuers, AML/KYC providers, exchanges, and other applications to interact with individuals in a decentralized regulatory compliant ecosystem. To learn more about SWARM, please visit www.swarm.fund.
SWARM allows token issuers (“Issuers”) to create and define digital assets that receive capital from accredited investors (“Investors”).
Information We Collect
Information You Provide Us
When you sign up to create a SWARM account, you provide us with information about yourself, including
If you sign up as an Investor, you also provide the token issuer with KYC/AML information which helps them ascertain your status as an investor, including accreditation status (where applicable). Specifically:
You may deposit fiat currency or cryptocurrency, such as SWARM token (SWM), Bitcoin, or Ethereum, from your digital wallet to make an investment in a fund. If you choose to transfer money from your digital wallet, we will also collect information about your bank account, such as routing number and account number, to facilitate the transaction.
If you contact us directly, we may receive additional information about you. For example, when you contact our Customer Support Team, we will receive your name, email address, phone number, the contents of a message or attachments that you may send to us, and other information you choose to provide.
Information We Collect Automatically From Your Use of the Services
How We Use Your Information
We may use the information we collect:
How We Share Your Information
We disclose information that we collect through the Services to third parties in the following circumstances:
We may use and disclose aggregate information that does not identify or otherwise relate to an individual for any purpose, unless we are prohibited from doing so under applicable law.
Third Party Services
We use certain physical, organizational, and technical safeguards that are designed to maintain the integrity and security of information that we collect. Please be aware that no security measures are perfect or impenetrable and thus we cannot and do not guarantee the security of your data. It is important that you maintain the security and control of your account credentials, and not share your password with anyone.
From time to time, we send marketing e-mail messages to our users. If you no longer want to receive such emails from us on a going forward basis, you may opt-out via the “unsubscribe” link provided in each such email.
Use of Services by Minors
The Services are not directed to individuals under the age of eighteen (18), and we request that they not provide personal information through the Services.
International Cross-Border Data Transfer
SWARM uses servers hosted in Germany. Please note that we may be transferring your information outside of your region for storage and processing in the United States and around the globe. By using the Services you consent to the transfer of information to countries outside of your country of residence, including the United States, which may have data protection rules that are different from those of your country.
Data privacy notice
This notice sets out how SWARM Foundation (“SWARM”) as a Data Controller will process personal information. This includes when personal data relating to persons who have registered to use the SWARM platform (the “SWARM Platform Users”) is provided to SWARM, or its associated Data Processors or other persons processing the data on SWARM's behalf. Unless otherwise provided, all defined terms used in this Data Privacy Notice shall have the meanings set forth in the General Data Protection Regulation (“GDPR”).
Purposes of processing and legal basis for processing
When managing and administrating a person’s use of the SWARM platform and/or holding of SWARM's ERC20 tokens and/or SWARM's SRC20 tokens SWARM or its Data Processors may process such person’s personal data to carry out anti-money laundering (“AML”) checks and related actions which SWARM considers appropriate to meet any legal obligations imposed on SWARM relating to the prevention of fraud, money laundering, terrorist financing, bribery, corruption, tax evasion and to prevent the provision of financial and other services to persons who may be subject to economic or trade sanctions.
SWARM or its Data Processors may monitor and record calls and electronic communications for investigation and fraud prevention purposes, for crime detection, prevention, investigation and prosecution, and to enforce or defend SWARM and its Data Processors’ rights, itself or through third parties to whom it delegates such responsibilities or rights in order to comply with a legal obligation imposed on SWARM and to assist with investigations, complaints, regulatory requests, litigation, arbitration, mediation or to pursue any other legitimate interests for which SWARM or its Data Processors may be entitled.
Recipients of data and international transfer of data
During the course of processing personal data about the SWARM Platform User and (if applicable) its directors, officers, employees and beneficial owners in order to carry out money laundering and identity checks and comply with legal obligations, SWARM or its Data Processors may disclose the personal data to:
SWARM will retain personal data of a SWARM Platform User for as long as is required for the purposes for which the data was collected, depending on the legal basis for which that data was obtained and/or whether additional legal/regulatory obligations mandate that SWARM retains the personal data.
Data subject rights
To the extent provided by the GDPR or any successor provision that is substantively comparable thereto, each individual has the right to request:
Data portability (in certain specific circumstances).
Where SWARM requires the personal data of the SWARM Platform User and (if applicable) its directors, officers, employees and beneficial owners to comply with AML or other legal requirements, failure to provide this information means the potential investor may not be able to invest in the investment opportunities available on the SWARM platform.
If the SWARM Platform User considers that SWARM or its Data Processors have processed personal data in violation of the GDPR and failed to remedy such violation to the SWARM Platform User’s reasonable satisfaction, the SWARM Platform User may lodge a complaint with the Information Commissioner’s Office at https://ico.org.uk/ .