What is AODOCS Treasury Personal Documents?
In the context of the KYC (Know Your Customer) procedure with our banks, Solvay must transfer to the banks information on the beneficial owners of the Solvay Group and the persons authorized to operate the bank accounts (signatories).
The collection and transmission of your personal data is necessary for the exercise with the banks of your (delegated) authority. This request from the banks stems from a legal obligation on them (European directives on the fight against money laundering and the financing of terrorism).
This information will be processed at Solvay only by the Finance Service Line and will be kept only until its transmission to the banks (up to 1 month after you send the documents). To facilitate subsequent verifications (to avoid the regular repetition of your sharing of the documents), you can indicate "I want Solvay to keep my documents until the end of my mandate".
For more information on this system and your rights, you can consult the Employee Privacy notice or contact privacy@solvay.com.
Glossary :
POA / bank signature
A Power Of Attorney or letter of attorney is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter. The person authorizing the other to act is the principal, grantor, or donor. The one authorized to act is the agent, attorney, or in some common law jurisdictions, the attorney-in-fact.
The list of persons authorized to operate Solvay's bank account (collection & payments) is communicated to the bank. Dual signature (4-eyes principle) is the rule.
KYC
Know Your Customer are guidelines and regulations in financial services that require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and Counter terrorism financing (CFT) regulations.
GDPR
The General Data Protection Regulation is a Regulation in EU law on data protection and privacy in the EU and the European Economic Area. The GDPR is an important component of EU privacy law and of human rights law, in particular Article 8 of the Charter of Fundamental Rights of the European Union. It also addresses the transfer of personal data outside the EU and EEA areas. The GDPR's primary aim is to enhance individuals' control and rights over their personal data and to simplify the regulatory environment for international business. Superseding the Data Protection Directive 95/46/EC, the regulation contains provisions and requirements related to the processing of personal data of individuals, formally called "data subjects", who are located in the EEA, and applies to any enterprise—regardless of its location and the data subjects' citizenship or residence—that is processing the personal information of individuals inside the EEA.
