Policies and Guidance Personal Information Collection Notice – Personnel of FMIs and their Stakeholders
The Reserve Bank of Australia (Reserve Bank) collects personal information (the Information) of the directors and staff of the operators of clearing and settlement facilities (CS facilities) licensed or seeking to be licensed under Part 7.3 of the Corporations Act 2001 (Corporations Act), and of the directors and staff of their related entities and stakeholders, in order to carry out its functions and powers under Part 7.3 of Corporations Act including (but not limited to):
- receiving written notices under s821BA of the Corporations Act
- receiving assistance reasonably requested under s821C(3) of the Corporations Act in relation to the performance of the Bank's functions under Part 7.3 of the Corporations Act
- assessing, under s823CA of the Corporations Act, how well a CS facility licensee is complying with its obligations under paragraph 821A(1)(aa) of the Corporations Act
- preparing advice to be given to the Minister under s827C of the Corporations Act
- determining, varying or revoking standards under s827D of the Corporations Act including consulting CS facility licensees under s827D(3) and s827D(6)
- receiving information under Standard 21 of the Financial Stability Standards for Central Counterparties or Standard 19 of the Financial Stability Standards for Securities Settlement Facilities.
Information may be collected by the Reserve Bank from the relevant CS facility licensee or its related entity or stakeholder, from the Australian Securities and Investments Commission (ASIC), through participation in a supervisory cooperative arrangement for the CS facility licensee (if the licensee is also licensed or supervised in another jurisdiction) and from published material.
The collection of some of the Information is authorised by the Corporations Act.
Some of the Information is of a kind which the Reserve Bank may disclose to ASIC or the Australian Competition and Consumer Commission (ACCC) if:
- the disclosure is for the purposes of the Reserve Bank Act 1959, the Banking Act 1959, Part 7.3 or 7.5A of the Corporations Act, section 62ZZD of the Insurance Act 1973, the Payment Systems (Regulation) Act 1998 or the Payment Systems and Netting Act 1998 ; or
- the Bank is satisfied that the disclosure of the information to ASIC or the ACCC will assist ASIC or the ACCC (as the case may be) to perform its functions or exercise its powers.
Some of the Information is of a kind which the Reserve Bank may disclose to the Minister or to the Secretary of the Treasury or an officer of the Treasury authorised by the Secretary for the purpose of advising the Minister.
The Reserve Bank may disclose some of the Information to a foreign central bank, the Bank for International Settlements (including certain committees operating under the Bank for International Settlements), the Financial Stability Board, the International Monetary Fund and the Treasury (New Zealand) if the Bank is satisfied that the disclosure of the Information will assist that entity to perform its functions or exercise its powers. It may also disclose Information to a foreign supervisor or regulator of CS facilities if the relevant CS facility licensee is licensed or exempt from licensing or operating under ‘third country recognition’ (or seeking to be licensed, exempt or so operating) in the relevant foreign jurisdiction and the Bank is satisfied that the disclosure of the Information will assist that entity to perform its functions or exercise its powers, or if the relevant CS facility licensee provides its consent.
Individuals are entitled under Australian privacy law in certain circumstances to access, and seek correction of, personal information about them held by the Reserve Bank. If you wish to access or update the personal information the Reserve Bank holds about you, or if you have an enquiry or complaint about how the Reserve Bank handles personal information, you can contact the Reserve Bank's Privacy Officer by email to privacy@rba.gov.au or by phone on (02) 9551 8111. More information about access, correction and complaints is in the Reserve Bank's Privacy Policy.