Data Privacy Statement

Part I: General

With the following information we would like to give you an overview of the processing of your personal data.

In accordance with the basic data protection regulation EU 2016/679 (DSGVO), which has been in force since 25 May 2018, we would therefore like to inform you about the way in which your personal data is used and your associated rights.

This data protection notice can be accessed at any time and will be updated as necessary in accordance with the statutory provisions.

1. your contact person and person responsible for processing your data

NESTOR Investment Management S.A.
Data Protection Officer
3, Rue Gabriel Lippmann
L-5365 Munsbach
phone: +352 427042
fax: +352 427474
e-mail: info(at)nimsa.eu

2. data and their sources

The NESTOR Investment Management S.A. ("NIMSA", "we", "us") processes personal data that we receive directly from our clients in the course of our business relationship. In addition, we process - to the extent necessary for the provision of our services - personal data which we permissibly obtain from publicly accessible sources (e.g. debtor lists, land registers, commercial and association registers, press, Internet) or which are legitimately transmitted to us by the European Depositary Bank SA or other third parties (e.g. a credit agency).

Relevant personal data that we process are

  • Personal identification data, such as personal details (name, address and other contact details (telephone, e-mail address), date and place of birth and nationality), legitimation data (e.g. identity card data, video legitimation procedure) and authentication data (e.g. specimen signature);
  • Banking and financial data, e.g. order data (e.g. account, payment and securities orders), data from the fulfilment of our contractual obligations (e.g. turnover data in payment transactions), tax information (e.g. details of church tax liability), information on your financial situation (e.g. creditworthiness data, scoring/rating data, origin of assets, MiFID status);
  • Electronic identification and customer contact information, advertising and sales data (including advertising scores), data on your online behaviour and preferences regarding the online/telemedia offered by us (e.g. IP addresses, time of access to our websites and pages clicked on);
  • Picture and sound material (e.g. conversation video recordings) as well as other data comparable to the above categories.

3. lawfulness and purpose of processing

We process personal data in accordance with the provisions of the European Data Protection Basic Regulation:

a.    For the fulfilment of contractual obligations (Art. 6 para. 1 b DSGVO)

The processing of data is carried out to provide services in the context of the execution of our contracts with our customers or to carry out pre-contractual measures, which are carried out on request. The purposes of data processing are primarily based on the specific product (e.g. securities, deposits, brokerage) and may include, among other things, needs analyses, advice, asset management and support, and the execution of transactions. Further details on data processing purposes can be found in the relevant contractual documents and terms and conditions.

b.    Within the scope of the balancing of interests (Art. 6 para. 1 f DSGVO)

If necessary, we will process your data beyond the actual fulfilment of the contract in order to protect the legitimate interests of us or third parties. Here are some examples:

  • Consultation of and data exchange with credit agencies (e.g. SCHUFA) to determine credit or default risks,
  • Testing and optimisation of procedures for the analysis of requirements for the purpose of direct customer contact,
  • Advertising or market and opinion research, provided that you have not objected to the use of your data,
  • Assertion of legal claims and defence in legal disputes,
  • Ensuring IT security and IT operation,
  • Prevention and investigation of criminal offences,
  • Video surveillance for the protection of the right to the house, for the collection of evidence in the event of robbery and fraud,
  • Measures for building and plant safety (e.g. access controls),
  • Measures to ensure the right to the house,
  • Measures for business management and further development of services and products,
  • Risk management in the European Depositary Bank SA.

c.    Based on your consent (Art. 6 para. 1 a DSGVO)

If you have given us your consent to process personal data for specific purposes (e.g. transfer of data within the European Depositary Bank SA, evaluation of payment transaction data for marketing purposes), the legality of this processing is based on your consent. Any consent given can be revoked at any time. This also applies to the revocation of declarations of consent that were issued to us before the DSGVO became effective, i.e. before 25 May 2018. The revocation of consent does not affect the legality of the data processed until revocation.

d.    Due to legal requirements (Art. 6 para. 1 c DSGVO) or in the public interest (Art. 6 para. 1 e DSGVO)

In addition, as a capital management company we are subject to various legal obligations as well as supervisory regulations, i.e. legal requirements (e.g. money laundering law, tax laws). The purposes of the processing include identity and age verification, fraud and money laundering prevention, the fulfilment of control and reporting obligations under tax law and the assessment and management of risks in the company.

4. data processing

Within the company, those entities will be given access to your data that need it to fulfil our contractual and legal obligations. Service providers and vicarious agents employed by us may also receive data for these purposes, provided they maintain business secrecy. These are companies in the categories IT services, logistics, printing services, telecommunications, consulting and advisory services as well as sales and marketing.

With regard to the passing on of data to recipients outside our company, it should first be noted that we as a company are obliged to maintain secrecy about all customer-related facts and assessments of which we become aware (business secret). We may only pass on information about you if required by law, if you have given your consent or if we are authorised to provide information. Under these conditions, recipients of personal data may be, for example

  • Public bodies and institutions (e.g., European Banking Authority, European Central Bank, Commission de Surveillance du Secteur Financier, law enforcement agencies) if there is a legal or official obligation to do so.
  • Other credit and financial services institutions or comparable institutions and processors to whom we transfer personal data in order to carry out the business relationship with you (depending on the contract, e.g. correspondent banks, custodian banks, stock exchanges, credit agencies).
  • Other companies of the European Depositary Bank SA for risk management purposes due to legal or official obligations.

Other data recipients may be those for which you have given your consent to the transfer of data or for which you have released us from the trade secret in accordance with the agreement or consent.

5. transfer of the data to third countries or international organisations

Data will be transferred to bodies in countries outside the European Union (so-called third countries) if

  • it is necessary to execute your orders (e.g. payment and securities orders),
  • it is required by law (e.g. tax and legal reporting obligations) or
  • you have given us your consent or
  • within the framework of an order processing. If service providers are used in a third country, they are obliged to comply with the level of data protection in Europe in addition to written instructions by agreeing the EU standard contractual clauses or EU-US privacy shields.


6. storage of personal data

All personal data must be stored by NIMSA for the entire duration of the contractual relationship with the customer as well as the legal limitation periods during which NIMSA or the customer requires this information in order to exercise or defend a legal claim.

The purpose of the data processing also determines the permitted duration of the storage of the processed data. This so-called purpose limitation principle is one of the essential principles of European data protection. If the data are no longer required for the fulfilment of contractual or legal obligations, they are regularly deleted.

For example, there is an exception to the basic obligation to delete data if the processing of personal data is necessary to fulfil an obligation under Luxembourg or EU law (Art. 17 para. 3 lit. b DSGVO).

Temporary further processing is necessary for the following purposes:

  • Fulfilment of commercial, supervisory and tax law obligations to retain data and, where necessary, further fulfilment of legal obligations under Luxembourg or EU law
  • the preservation of evidence within the framework of the legal statute of limitations.

7. your rights as a data subject

Every data subject has the right of access under Article 15 DSGVO, the right of rectification under Article 16 DSGVO, the right of deletion under Article 17 DSGVO, the right to restrict processing under Article 18 DSGVO, the right of objection under Article 21 DSGVO and the right of data transferability under Article 20 DSGVO.

In addition, there is a right of appeal to a competent data protection supervisory authority (e.g. the Luxembourg data protection authority CNPD (Article 77 DSGVO)).

You can revoke your consent to the processing of personal data at any time. This also applies to the revocation of declarations of consent that were issued to us before the validity of the basic data protection regulation, i.e. before 25 May 2018. Please note that the revocation is only effective for the future. Processing operations that took place before the revocation are not affected by this.

8. provision of data

As part of our business relationship, each data subject must provide the personal data necessary for the establishment and execution of a business relationship so that NIMSA is able to fulfil all legal and regulatory obligations.

In particular, we are obliged under money laundering legislation to identify you by means of your identification document before establishing the business relationship and to collect and record your name, place and date of birth, nationality, address and identification data. In order for us to be able to comply with this legal obligation, you must provide us with the necessary information and documents in accordance with the Money Laundering Act and notify us immediately of any changes arising in the course of the business relationship. If you do not provide us with the necessary information and documents, we may not commence or continue the business relationship you have requested.

9. automated decision making

As a matter of principle, we do not use a fully automated decision-making process in accordance with Article 22 of the DSGVO to establish and implement business relationships. Should we use these procedures in individual cases, we will inform you of this separately if this is required by law.

10. Profiling

We process some of your data automatically with the aim of evaluating certain personal aspects (profiling). We use profiling for example in the following cases:

  • Due to legal and regulatory requirements, we are obliged to combat money laundering, the financing of terrorism and asset endangering crimes. We also carry out data analyses (e.g. in payment transactions). These measures also serve your protection.
  • In order to be able to inform and advise you about products in a targeted manner, we use evaluation tools. These enable communication and advertising in line with your needs, including market and opinion research.

11. information on your right of objection under Article 21 of the Basic Data Protection Regulation (DSGVO)

1. right of objection on a case-by-case basis
You have the right to object at any time, for reasons arising from your particular situation, to the processing of personal data relating to you which is carried out on the basis of Article 6 paragraph 1 letter e) DSGVO (data processing in the public interest) and Article 6 paragraph 1 letter f) DSGVO (data processing based on a balancing of interests); this also applies to profiling within the meaning of Article 4 No. 4 DSGVO based on this provision. If you lodge an objection, we will no longer process your personal data unless we can prove compelling reasons for processing which are worthy of protection and which outweigh your interests, rights and freedoms, or unless the processing serves to assert, exercise or defend legal claims.

2. right to object to the processing of data for direct marketing purposes
In individual cases, we process your personal data to carry out direct advertising. You have the right to object at any time to the processing of personal data concerning you for the purpose of such direct marketing, including profiling, to the extent that it is connected with such direct marketing. If you object to processing for the purposes of direct marketing, we will no longer process your personal data for those purposes.

The objection can be made without formality and should be addressed, if possible, to

NESTOR Investment Management S.A.
Data Protection Officer
3, Rue Gabriel Lippmann
L-5365 Munsbach
Tel: +352 427042
Fax: +352 427474
e-mail: info(at)nimsa.eu

Part II: Information relevant to website

1. An overview of data protection

General information
The following information will provide you with an easy to navigate overview of what will happen with your personal data when you visit this website. The term “personal data” comprises all data that can be used to personally identify you. For detailed information about the subject matter of data protection, please consult our Data Protection Declaration, which we have included beneath this copy.

Data recording on this website
Who is the responsible party for the recording of data on this website (i.e. the “controller”)? The data on this website is processed by the operator of the website, whose contact information is available under section “Information Required by Law” on this website.

How do we record your data?
We collect your data as a result of your sharing of your data with us. This may, for instance be information you enter into our contact form. Other data shall be recorded by our IT systems automatically or after you consent to its recording during your website visit. This data comprises primarily technical information (e.g. web browser, operating system or time the site was accessed). This information is recorded automatically when you access this website.

What are the purposes we use your data for?
A portion of the information is generated to guarantee the error free provision of the website. Other data may be used to analyze your user patterns.

What rights do you have as far as your information is concerned?
You have the right to receive information about the source, recipients and purposes of your archived personal data at any time without having to pay a fee for such disclosures. You also have the right to demand that your data are rectified or eradicated. If you have consented to data processing, you have the option to revoke this consent at any time, which shall affect all future data processing. Moreover, you have the right to demand that the processing of your data be restricted under certain circumstances. Furthermore, you have the right to log a complaint with the competent supervising agency. Please do not hesitate to contact us at any time under the address disclosed in section “Information Required by Law” on this website if you have questions about this or any other data protection related issues.

Analysis tools and tools provided by third parties
There is a possibility that your browsing patterns will be statistically analyzed when your visit this website. Such analyses are performed primarily with what we refer to as analysis programs. For detailed information about these analysis programs please consult our Data Protection Declaration below.

2. General information and mandatory information

Data protection
The operators of this website and its pages take the protection of your personal data very seriously. Hence, we handle your personal data as confidential information and in compliance with the statutory data protection regulations and this Data Protection Declaration. Whenever you use this website, a variety of personal information will be collected. Personal data comprises data that can be used to personally identify you. This Data Protection Declaration explains which data we collect as well as the purposes we use this data for. It also explains how, and for which purpose the information is collected. We herewith advise you that the transmission of data via the Internet (i.e. through e-mail communications) may be prone to security gaps. It is not possible to completely protect data against third-party access.

Information about the responsible party (referred to as the “controller” in the GDPR)
The data processing controller on this website is:

NESTOR Investment Management S.A.
3, Rue Gabriel Lippmann
L-5365 Munsbach
Phone: +352 / 42 70 42
E-mail: info(at)nimsa.eu

The controller is the natural person or legal entity that single-handedly or jointly with others makes decisions as to the purposes of and resources for the processing of personal data (e.g. names, e-mail addresses, etc.).

Storage duration
Unless a more specific storage period has been specified in this privacy policy, your personal data will remain with us until the purpose for which it was collected no longer applies. If you assert a justified request for deletion or revoke your consent to data processing, your data will be deleted, unless we have other legally permissible reasons for storing your personal data (e.g. tax or commercial law retention periods); in the latter case, the deletion will take place after these reasons cease to apply.

Revocation of your consent to the processing of data
A wide range of data processing transactions are possible only subject to your express consent. You can also revoke at any time any consent you have already given us. This shall be without prejudice to the lawfulness of any data collection that occurred prior to your revocation.

Right to object to the collection of data in special cases; right to object to direct advertising (Art. 21 GDPR)


Right to log a complaint with the competent supervisory agency
In the event of violations of the GDPR, data subjects are entitled to log a complaint with a supervisory agency, in particular in the member state where they usually maintain their domicile, place of work or at the place where the alleged violation occurred. The right to log a complaint is in effect regardless of any other administrative or court proceedings available as legal recourses.

Right to data portability
You have the right to demand that we hand over any data we automatically process on the basis of your consent or in order to fulfil a contract be handed over to you or a third party in a commonly used, machine readable format. If you should demand the direct transfer of the data to another controller, this will be done only if it is technically feasible.

SSL and/or TLS encryption
For security reasons and to protect the transmission of confidential content, such as purchase orders or inquiries you submit to us as the website operator, this website uses either an SSL or a TLS encryption program. You can recognize an encrypted connection by checking whether the address line of the browser switches from “http://” to “https://” and also by the appearance of the lock icon in the browser line.

If the SSL or TLS encryption is activated, data you transmit to us cannot be read by third parties. Information about, rectification and eradication of data Within the scope of the applicable statutory provisions, you have the right to at any time demand information about your archived personal data, their source and recipients as well as the purpose of the processing of your data. You may also have a right to have your data rectified or eradicated. If you have questions about this subject matter or any other questions about personal data, please do not hesitate to contact us at any time at the address provided in section “Information Required by Law.”

Right to demand processing restrictions
You have the right to demand the imposition of restrictions as far as the processing of your personal data is concerned. To do so, you may contact us at any time at the address provided in section “Information Required by Law.” The right to demand restriction of processing applies in the following cases:

  • In the event that you should dispute the correctness of your data archived by us, we will usually need some time to verify this claim. During the time that this investigation is ongoing, you have the right to demand that we restrict the processing of your personal data.
  • If the processing of your personal data was/is conducted in an unlawful manner, you have the option to demand the restriction of the processing of your data in lieu of demanding the eradication of this data.
  • If we do not need your personal data any longer and you need it to exercise, defend or claim legal entitlements, you have the right to demand the restriction of the processing of your personal data instead
  • of its eradication.
  • If you have raised an objection pursuant to Art. 21 Sect. 1 GDPR, your rights and our rights will have to be weighed against each other. As long as it has not been determined whose interests prevail, you have the right to demand a restriction of the processing of your personal data.

If you have restricted the processing of your personal data, these data – with the exception of their archiving – may be processed only subject to your consent or to claim, exercise or defend legal entitlements or to protect the rights of other natural persons or legal entities or for important public interest reasons cited by the European Union or a member state of the EU.

3. Recording of data on this website

Our websites and pages use what the industry refers to as “cookies.” Cookies are small text files that do not cause any damage to your device. They are either stored temporarily for the duration of a session (session cookies) or they are permanently archived on your device (permanent cookies). Session cookies are automatically deleted once you terminate your visit. Permanent cookies remain archived on your device until you actively delete them or they are automatically eradicated by your web browser.

In some cases, it is possible that third-party cookies are stored on your device once you enter our site (thirdparty cookies). These cookies enable you or us to take advantage of certain services offered by the third party (e.g. cookies for the processing of payment services).

Cookies have a variety of functions. Many cookies are technically essential since certain website functions would not work in the absence of the cookies (e.g. the shopping cart function or the display of videos). The purpose of other cookies may be the analysis of user patterns or the display of promotional messages.

Cookies, which are required for the performance of electronic communication transactions (required cookies) or for the provision of certain functions you want to use (functional cookies, e.g. for the shopping cart function) or those that are necessary for the optimization of the website (e.g. cookies that provide measurable insights into the web audience), shall be stored on the basis of Art. 6 Sect. 1 lit. f GDPR, unless a different legal basis is cited. The operator of the website has a legitimate interest in the storage of cookies to ensure the technically error free and optimized provision of the operator’s services. If your consent to the storage of the cookies has been requested, the respective cookies are stored exclusively on the basis of the consent obtained (Art. 6 Sect. 1 lit. a GDPR); this consent may be revoked at any time.

You have the option to set up your browser in such a manner that you will be notified any time cookies are placed and to permit the acceptance of cookies only in specific cases. You may also exclude the acceptance of cookies in certain cases or in general or activate the delete function for the automatic eradication of cookies when the browser closes. If cookies are deactivated, the functions of this website may be limited.

In the event that third-party cookies are used or if cookies are used for analytical purposes, we will separately notify you in conjunction with this Data Protection Policy and, if applicable, ask for your consent.

Server log files
The provider of this website and its pages automatically collects and stores information in so-called server log files, which your browser communicates to us automatically. The information comprises:

  • The type and version of browser used
  • The used operating system
  • Referrer URL
  • The hostname of the accessing computer
  • The time of the server inquiry
  • The IP address

This data is not merged with other data sources.

This data is recorded on the basis of Art. 6 Sect. 1 lit. f GDPR. The operator of the website has a legitimate interest in the technically error free depiction and the optimization of the operator’s website. In order to achieve this, server log files must be recorded.

Contact form
If you submit inquiries to us via our contact form, the information provided in the contact form as well as any contact information provided therein will be stored by us in order to handle your inquiry and in the event that we have further questions. We will not share this information without your consent.

The processing of these data is based on Art. 6 para. 1 lit. b GDPR, if your request is related to the execution of a contract or if it is necessary to carry out pre-contractual measures. In all other cases the processing is based on our legitimate interest in the effective processing of the requests addressed to us (Art. 6 Para. 1 lit. f GDPR) or on your agreement (Art. 6 Para. 1 lit. a GDPR) if this has been requested.

The information you have entered into the contact form shall remain with us until you ask us to eradicate the data, revoke your consent to the archiving of data or if the purpose for which the information is being archived no longer exists (e.g. after we have concluded our response to your inquiry). This shall be without prejudice to any mandatory legal provisions – in particular retention periods.

Request by e-mail, telephone or fax
If you contact us by e-mail, telephone or fax, your request, including all resulting personal data (name, request) will be stored and processed by us for the purpose of processing your request. We do not pass these data on without your consent.

These data are processed on the basis of Art. 6 Sect. 1 lit. b GDPR if your inquiry is related to the fulfillment of a contract or is required for the performance of pre-contractual measures. In all other cases, the data are processed on the basis of our legitimate interest in the effective handling of inquiries submitted to us (Art. 6 Sect. 1 lit. f GDPR) or on the basis of your consent (Art. 6 Sect. 1 lit. a GDPR) if it has been obtained.

The data sent by you to us via contact requests remain with us until you request us to delete, revoke your consent to the storage or the purpose for the data storage lapses (e.g. after completion of your request). Mandatory statutory provisions - in particular statutory retention periods - remain unaffected.

4. Analysis tools and advertising

Matomo (formerly called Piwik)
This website uses the open source web analysis service Matomo. Matomo uses technologies that make it possible to recognize the user across multiple pages with the aim of analyzing the user patterns (e.g. cookies or device fingerprinting). The information recorded by Matomo about the use of this website will be stored on our server. Prior to archiving, the IP address will first be anonymized.

Through Matomo, we are able to collect and analyze data on the use of our website by website visitors. This enables us to find out, for instance, when which page views occurred and from which region they came. In addition, we collect various log files (e.g. IP address, referrer, browser and operating system used) and can measure whether our website visitors perform certain actions (e.g. clicks, purchases, etc.).

The use of this analysis tool is based on Art. 6 Sect. 1 lit. f GDPR. The website operator has a legitimate interest in the analysis of user patterns, in order to optimize the operator’s web offerings and advertising. If a corresponding agreement has been requested (e.g. an agreement to the storage of cookies), the processing takes place exclusively on the basis of Art. 6 para. 1 lit. a GDPR; the agreement can be revoked at any time.

We host Matomo exclusively on our own servers so that all analysis data remains with us and is not passed on.