Privacy policy

The purpose of this data protection policy is to inform you how Sparinvest S.A., located at 28, Boulevard Royal, L-2449, Luxembourg, (“Sparinvest” or “we”), acting as data controller, processes your personal data, and what rights you have in relation to our collection, processing and storage of your personal data. Data protection is important to Sparinvest, and is an integral part of our business, which is why we have taken a series of measures to ensure this protection, and to be compliant with legislation regarding the protection of personal data.

Why we process your personal data

There are several important reasons why Sparinvest processes your personal data.

We process personal data to deliver more accurate and relevant consulting regarding investments via our services; to carry out transactions; to administer your relationship with us as a customer and to communicate with you. Our processing of your personal data is therefore necessary in order for us to provide you with our services.

Please note, that telephone conversations with Sparinvest’s employees regarding trading are recorded for documentation purposes. The legal basis for this processing is fulfilment of a contract with you or your employer, particularly in relation to your relationship with us as a customer, client or business partner (art. 6, 1b GDPR1).

Furthermore, Sparinvest has a legitimate interest in processing personal data (art. 6, 1f GDPR). These interests are invoicing for services rendered, our communication with you if Sparinvest has any questions regarding specific services, storage of data for documentation purposes, handling of a current or potential legal dispute and/ or retention and improvement of customer relations with you.

Personal data is also processed for the purpose of complying with applicable Anti-Money Laundering legislation and any other legal obligations. In this case, the legal basis for the processing of your personal data is compliance with a legal obligation (art. 6, 1c GDPR).

Personal data is also used for marketing purposes, including refining and targeting our communication with you based on your interests and focus areas, as well as contacting you with relevant marketing material in the form of newsletters, information about our products, invitations to events and more. We use the information to improve your user experience on our website and in relation to the services, we offer, too. The legal basis for the processing of personal data will here be Sparinvest’s legitimate interest in marketing its products (art. 6, 1f GDPR) or your freely given, specific and informed consent (art. 6, 1a GDPR), if required, which could be the case if we contact you for the purpose of direct marketing by email or other electronic means.

When you apply for a job in Sparinvest, we process general personal data provided by you in your application, CV, job interview, grade transcript etc. for the purpose of evaluating your qualifications in regard of the job. The legal basis for the processing of your personal data is here Sparinvest’s legitimate interests (art. 6, 1f GDPR). If invited to a second job interview, we ask you to perform a personality test and/or an intelligence test. You will receive the questions asked directly from the test provider of the personality test and/or intelligence test. Sparinvest will receive the test result but not the answers. Sparinvest will ask for your permission and consent before asking you to perform an intelligence test. The legal basis for the processing of your personal data will here be Sparinvest’s legitimate interests or your consent (art. 6, 1f or art. 9, 2a GDPR). If you are offered the job and are to be employed in Luxembourg, a medical exam has to be made by an official practitioner. This is a condition for entering into an employment contract in Luxembourg. Sparinvest receives data regarding your name, address, national security number and the conclusion; fit or unfit for the intended occupation. The legal basis for this processing of your personal data is a legal obligation (art. 6, 1c and art. 9, 2g GDPR) according to L-326-1 of the Labour Code. Furthermore, if offered the job, and if relevant, Sparinvest will ask you to provide data regarding criminal record certificate. We do this to assess your qualifications for a certain position in Sparinvest, as you as an employee at Sparinvest will get access to information, which potentially can be misused for criminal purposes. Sparinvest will ask for your consent to process this information (art. 6, 1a and art. 9, 2a GDPR).

Data collection and categories of personal data

We gather and process the personal data you have submitted to us in relation to our investment consulting, execution of transactions and administration of your relationship with us as a customer. In general, your personal data is collected when you contact us (by telephone, via a website or via email) with a view to you receiving our consulting services, for carrying out transactions on your behalf etc.

We also collect personal data when you navigate at our website. You can read about our cookie policy here.

For marketing purposes, in some circumstances we also collect data from publicly accessible websites and social media. These circumstances would be that we want further information on companies, their employees and/or their board of directors.

Sparinvest processes general personal data such as your name, contact information, information about your finances and any services you receive. If you are a legal person, the same processing of personal data may apply to your contact person(s) and/ or beneficial owner(s).

Generally Sparinvest does not process special categories of personal data (sensitive personal data) about you.

Notwithstanding the above mentioned, Sparinvest will handle copy of your passport and national identification number if we are required to do so by law, e.g. Anti-Money Laundering Laws.

If you are a candidate for a job, Sparinvest may as well process special categories of personal data. Please refer to afore mentioned in the previous section.

Who receives your personal data?

If necessary or required by law Sparinvest may disclose or transfer personal data about you to certain third-party recipients. This would e.g. be public authorities, funds managed by Sparinvest, governmental or regulatory agencies, service providers or intra-group companies (“Recipients”).

Intra-group companies are Sparinvest Holdings SE, ID-Sparinvest, branch of Sparinvest S.A., Luxembourg, Sparinvest Investment Solutions A/S and Garanti Invest A/S.

The Recipients may, as the case be, process personal data as data processers (when personal data about you is processed on behalf of Sparinvest and in accordance with an instruction given by Sparinvest, to assist Sparinvest in the context of the aforementioned purposes) or as distinct data controller (when processing your personal data for their own purposes). Please note, that the Recipients are not entitled to process your personal data for their own purposes unless legislation and/or the relevant authorities require it, or if you have given your prior consent.

Transferring your personal data to a country outside the EU/EEA

In certain cases, your personal data may be transferred to recipients and/ or sub- recipients located in countries outside the European Union/ European Economic Area (EU/EEA), for example if Sparinvest uses a data processer located in such a country. Sparinvest ensures that any such transfers take place in accordance with the relevant data protection legislation. This means that any party outside the EU/EEA receiving your personal data must ensure an adequate level of data protection, for example by committing to the EU/US Privacy Shield or accepting the EU commission’s standard contractual arrangements with Sparinvest. If you have any questions regarding this, you are welcome to email Sparinvest at

Storage of your personal data

Sparinvest stores your personal data for as long as it is necessary to fulfil the purposes mentioned above.

This means that your personal data will be stored as long as you have an active customer relationship with Sparinvest and, as far as it is necessary, for a reasonable period of time after the customer relationship has ended. This is for documentation purposes. The length of this period is normally five years.

In addition, Sparinvest stores your personal data related to specific transactions in accordance with legal, financial and accounting purposes. For example, accounting records are kept for accounting purposes for up to 10 years from the end of the fiscal year to which the material relates, in accordance with the special regulations for storing accounting records specified in current accounting legislation. After this time, the personal data will be deleted.

If you are not a Sparinvest customer, we normally keep your personal data for up to three years from the date of your last inquiry.

Telephone conversations with Sparinvest’s employees regarding trading recorded for documentation purposes are stored for 5 years.

If you consented to direct marketing by electronic means, we store your data for 2 years from our last contact. 

If you apply for a job at Sparinvest, but not offered the job, we store your personal data for 6 month.

Your rights

When you become a data subject, you have, under certain conditions set out by the GDPR, the possibility to exercise the following rights:

You have the right to request access to the personal data that Sparinvest processes about you. Sparinvest must provide a copy of the personal data that is processed (free of charge) or disclose the information in electronic form.

You have the right to rectify incorrect personal data, including completing incomplete personal data, and you have the right to have personal information about you deleted.

You have the right to restrict Sparinvest’s processing of your personal data.

When data processing is based on consent or a contract and the processing takes place automatically, you have the right to receive your personal data in a structured, commonly used and readable format. If it is technically possible, you have the right to have this personal data transferred to a third party without hindrance from Sparinvest.

You have the right to object about Sparinvest’s processing of your personal data.

It is emphasized that if your personal data is processed for direct marketing purposes, you have an unconditional right to object at any time to the processing of personal data for such marketing.

If your personal data is processed because processing is necessary for the purposes of legitimate interests of Sparinvest (art. 6, 1(f) GDPR), you have the right to object to the processing on grounds related to your particular situation.

If processing of your personal data is based on your consent, you have the right to withdraw your consent at any time. Please note that this does not affect Sparinvest’s processing of your personal data prior to the withdrawal of your consent.

If you wish to exercise any of the above mentioned rights, please contact Sparinvest at

Submission of complaints

If you wish to submit a complaint regarding Sparinvest’s processing of your personal data, please contact Sparinvest at

You have also a right to file a complaint to your national supervisory authority or Luxembourg National Commission for Data Protection:

Commission Nationale pour la Protection des Données
1, Avenue du Rock’n Roll
L-4361 Esch-sur-Alzette
Telephone number: (+352) 26 10 60 – 1

Changes to this data protection policy

This data protection policy will be updated on a regular basis, as well as when it is necessary as a result of changes in relevant legislation. This data protection policy will always contain information regarding the date at which the latest version comes into force. If the changes to this privacy policy are substantial or significant, you will be explicitly informed, for example on Sparinvest’s website or via email.

Implementation date for the latest update of this data protection policy

 30 January 2019

1) Regulation (EU) 2016/679 of The European Parliament and The Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation)