Winners and Losers of the EU’s New Carbon Border Adjustment Policy - Regnan

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We provide this notice so that you will know what kinds of information we collect and the circumstances in which that information may be disclosed to third parties in relation to our US business.

Information we collect and sources of information

We collect nonpublic personal information about our customers from the following sources:

Account Applications and other forms, which may include a customer’s name, address, social security number, and information about a customer’s investment goals and risk tolerance;
Account History, including information about the transactions and balances in a customer’s account(s); and
Correspondences including written, telephonic or electronic between a customer and the Funds or service providers to the Funds

Information we share with service providers and others

We may disclose all non-public personal information we collect, as described above, to companies that perform services on our behalf, including those that assist us in responding to inquiries, processing transactions, preparing and mailing account statements and other forms of shareholder services, provided they use the information solely for these purposes and they enter into a confidentiality agreement regarding the information. We also may disclose non-public personal information as otherwise permitted by law.

Safeguarding customer information

We will safeguard, according to federal standards of security and confidentiality, any non-public personal information our customers share with us. We require our service providers

to maintain policies and procedures designed to assure only appropriate access to, and use of information about our customers; and
to maintain physical, electronic and procedural safeguards that comply with federal standards to guard nonpublic personal information of our customers.

We will adhere to the policies and practices described in this notice regardless of whether you are a current or former customer.

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JOHCM Ltd is a private limited company incorporated in England and Wales with Registered No. 2176004. Its registered office and principal place of business is Level 3, 1 St James's Market, London SW1Y 4AH, United Kingdom. JOHCM (USA) Inc. is a corporation incorporated in the State of Delaware, USA whose principal place of business is 437 Madison Avenue, 27th Floor, New York, NY 10022, USA.

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Regnan is a trading name of J O Hambro Capital Management Limited (“JOHCM”). JOHCM takes your privacy seriously. This privacy statement contains information on what personal data JOHCM collects, what it does with that information, and what rights you have. In this document, “JOHCM Group” refers to JOHCM, its subsidiaries, its holding companies and any subsidiaries of such holding companies. If you have any questions or comments, please contact [email protected].

1. Collection of personal data

JOHCM collects and processes personal data about you including but not limited to:

personal details such as your name, date of birth, KYC documents, physical and electronic address;
professional information about you, such as your job title and work experience, and your knowledge of and experience in investment matters;
details of our interactions with you and the products and services you use;
identifiers we assign to you, such as your client or account number;
information held in public registers, such as in beneficial ownership registers;
in some cases, special categories of personal data, such as information relating to criminal convictions or offences.

In some cases, we collect this information from public registers or other third party sources, such as credit reference agencies and fraud prevention agencies and other JOHCM Group entities.

2. How JOHCM processes personal data

We process personal data for the following purposes:

a) on-boarding processes, including to verify your identity and to conduct legal and other regulatory compliance checks (for example, to comply with anti-money laundering regulations, and prevent fraud);

b) managing our relationship with you, including communicating with you in relation to the products and services you provide to us or obtain from us and from our business partners, handling customer service-related queries and complaints;

c) helping us to learn more about you as a customer or supplier, the products and services you receive or provide, and other products and services you may be interested in receiving or providing;

d) taking steps to improve our products and services and our use of technology, including testing and upgrading of systems and processes, and conducting market research to understand how to improve our existing products and services or learn about other products and services we can provide;

e) contacting you about products and services we think will be of interest to you, including those offered by us, JOHCM Group entities, and our other business partners;

f) meeting our on-going regulatory and compliance obligations, including in relation to disclosures to tax authorities, financial service regulators and other regulatory and governmental bodies, and investigating or preventing crime;

g) ensuring the safety of our customers, suppliers and other stakeholders; and

h) for the JOHCM Group’s prudent operational management (including credit and risk management, insurance, audit, systems and products training and similar administrative purposes).

The processing of your personal data may be:

(i) necessary for our legitimate interests, including our interests in pursuing the purposes in (a) to (h) above and, when we make the disclosures referred to in paragraph 3 below, necessary for providing products and services of a consistently high standard across the JOHCM Group, keeping our customers, suppliers and other stakeholders satisfied, and meeting our accountability and regulatory requirements around the world, in each case provided such interests are not overridden by your privacy interests;

(ii) necessary for taking steps to enter into or executing a contract with you for the services or products you receive or provide, or for carrying out our obligations under such a contract, such as when we use your data for the purposes in (a), (b) and (c) above;

(iii) required to meet our legal or regulatory responsibilities, including when we conduct the checks referred to in (a) above and make the disclosures to authorities, regulators and government bodies referred to in (f) above and paragraph 3 below;

(iv) in some cases, necessary for the performance of a task carried out in the public interest and, when we use special categories of personal data, necessary for establishing, exercising or defending legal claims or where the processing relates to personal data manifestly in the public domain; and

(v) in limited circumstances, processed with your consent which we obtain from you from time to time such as when you consent to marketing or in the case of special categories of personal data obtained pursuant to our onboarding process.

Where the personal data we collect from you is needed to meet our legal or regulatory obligations or enter into an agreement with you, if we cannot collect this personal data we may be unable to on-board you as a client or supplier.

3. Recipients of personal data

JOHCM Group entities

We may share personal data with other JOHCM Group companies. This allows us to ensure that the services and products we may provide or receive can be distributed across our Group.

Third Parties

When engaging with you, we may share personal data with persons acting on your behalf or otherwise involved in the relationship, including:
- payment recipients, beneficiaries, account nominees, intermediary, and correspondent and agent banks;
- clearing houses, and clearing or settlement systems;
- specialised companies or payment institutions such as SWIFT;
- market counterparties;
- upstream withholding agents;
- swap or trade repositories; stock exchanges;
- other financial institutions, credit reference agencies or credit bureaus (for the purposes of obtaining or providing credit references).

Service providers

We may also share personal data with our suppliers, including JOHCM Group companies and other business partners who provide services to us, including those that assist us in responding to inquiries, processing transactions, preparing and mailing account statements and other forms of shareholder services, as well as IT and hosting providers, communication services and printing providers, debt collection, tracing, debt recovery, fraud prevention, and credit reference agencies, and others. When we do so we take steps to ensure they meet our data security standards, so that your personal data remains secure.

Public or regulatory authorities

From time to time we disclose personal data to public authorities, regulators or governmental bodies, including when required by law or regulation, under a code of practice or conduct, or when these authorities or bodies require us to do so.

Others

We may need to disclose personal data to exercise or protect legal rights, including ours and those of our employees or other stakeholders, or in response to requests from individuals or their representatives who seek to protect their legal rights or such rights of others.

4. International transfers of personal data

The recipients referred to above may be located outside the United Kingdom (for example in the US or Australia). In those cases, except where the relevant country has been determined by the relevant public authority to provide an adequate level of protection, JOHCM requires such recipients to comply with appropriate measures designed to ensure such transfers are permitted under applicable data protection laws.

5. Retention of personal data

We will retain your personal data for the longer of the period required in order to comply with applicable laws, regulations or regulatory guidance, and the period envisaged within the JOHCM records management retention documentation. The JOHCM Group determines the retention period for documentation with regard to our operational and legal requirements, such as proper account maintenance, facilitating client relationship management, and responding to legal claims or regulatory requests.

6. Your rights

You have a right to ask JOHCM to rectify inaccurate personal data we collect and process and the right to request restriction of your personal data pending such a request being considered.

Where we process your personal data on the basis of your consent, you have the right to withdraw that consent at any time. You have a right to ask us to stop processing your personal data, or to request deletion of your personal data – these rights are not absolute, but we will consider your request and respond to you with the outcome. When personal data are processed for direct marketing purposes, your right to object extends to direct marketing, including profiling to the extent it is related to such marketing. You may object to direct marketing by clicking the “unsubscribe” link in any of our marketing emails to you, or by contacting us using the contact details below.

Where we process your personal data on the basis of your consent, or where such processing is necessary for entering into or performing our obligations under a contract with you, you may have the right to request your personal data be transferred to you or to another controller (known as the ‘data portability’ right). You may also have the right to ask JOHCM for a copy of some or all of the personal data we collect and process about you.

You can exercise the rights set out above by contacting the address at the end of this notice.

7. Complaints

If you are not satisfied with any aspect of the processing of your personal data by JOHCM, we would like to discuss it with you to understand how we can rectify the issue. However you also have the right to complain to your local data protection supervisory authority. Please see our Complaints page for more information.

8. Personal data processing for indirect client relationships and prospective clients

From time to time, JOHCM collects and processes personal data on prospective clients in order to assess the suitability of such prospective clients and, where appropriate, contact such prospective clients. This processing is justified on the grounds that it is necessary for the purposes of client prospecting, which is in the legitimate interests of JOHCM. Where this occurs, JOHCM takes steps to minimise the amount of personal data collected, the duration of retention and will, at the earliest practicable occasion, communicate the nature and content of processing to such individuals.

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10. Status of this privacy notice

This privacy statement is a notice explaining what JOHCM does, rather than a document that binds JOHCM or any other party contractually. We reserve the right to amend it from time to time.

If you have any questions about this policy or the use of your personal data, or if you would like to exercise your rights set out in 7 above, please contact: [email protected].

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November 6, 2024 / Regnan Research

The EU announced measures to curb carbon emissions, and while some heralded the move as key to protecting European industry, others worry that mounting administrative and operations burdens could crush business. We explore how the EU Carbon Border Adjustment Mechanism (CABM) may impact companies in the aluminum sector — and weigh the potential unintended global consequences.

The European Commission launched CABM to combat the risk of carbon leakage, requiring exporters to the EU to report their carbon emissions from production on a quarterly basis.
Importers will use these numbers to purchase carbon certificates with the price determined by the EU Emission Trading Scheme (EU ETS).
For the aluminum industry, factors such as geographic and materials exposure, business model type, carbon intensity, and climate preparedness pose differing magnitudes of risk and opportunities.

Download report here

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