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EU GDPR Policy

What is GDPR
The GDPR is an EU Regulation to improve the protection of the personal data of EU citizens and increase the obligations of organizations who collect or process personal data. These new regulations take effect on the 25th of May 2018. The regulations greatly enhance the data privacy and security of our customers and extend to them exercisable rights enabling greater control over one's personally identifiable information. The full specification of the GDPR rights and regulations can be found here. Today, data protection law impacts organizations and governments around the world. The EU implemented a higher protection threshold than most other countries with the introduction of General Data Protection Regulation (GDPR) in 2018. GDPR introduced changes to previous data protection and data privacy law, specifically around areas like consent, reporting obligations, internal procedures, accountability, and penalties.

What is data privacy and data protection?
Data privacy and data protection both deal with the processing of data. Data protection focuses on protecting assets from unauthorized use, while data privacy defines who is authorized to access the data in the first place. One important difference is who controls which part. With data privacy, controls are mostly given to the user (in other words, the user can control which data is shared with whom), while data protection is mostly a company's responsibility.

What is personal data?
Personal data is defined as any data that can be linked back to a natural person. Everything you do online - from creating a Facebook account to posting a photo on Instagram - leaves a digital footprint. While it may seem small, it adds up and unprotected, an individual is vulnerable to having their personal data shared with third parties. Luckily, data privacy law focuses on ensuring an individual's rights are secure.

Does GDPR apply to me?
Yes GDPR applies to you too even if you are located outside of the EEA (European Economic Area). It applies to any business that a) markets their products to people in the EEA or b) monitors the behavior of people in the EEA. In other words, even if you're based outside of the EEA, if you control or process the data of EU citizens, GDPR applies to you.

Where is my data stored?
Myfundus is hosted on Amazon Web Services (AWS). The servers where Myfundus data is stored are located in Europe (Frankfurt) eu-central-1 and Europe (Ireland) eu-west-1 region.

Find more infos about GDPR
Myfundus Privacy Policy
The full specification of the GDPR rights and regulations can be found here
Visit the Federal Commissioner for data protection and freedom of information
Visit the European Data Protection Supervisor
Find the full text of the General Data Protection Regulation

This website is not legal advice for your company to use in complying with EU data privacy laws like the GDPR. Instead, it provides background information to help you better understand how Myfundus has coped with some important legal issues. This legal information is not the same as legal advice, where a legal professional applies the law to specific circumstances, so we insist that you consult a legal professional, if you’d like advice on your interpretation of this information or its accuracy. In a nutshell, you may not rely on this paper as legal advice.

Privacy Questions
Questions or concerns about Myfundus's Privacy Policy or Terms of Service? Contact us