Privacy Policy


Privacy at Legg Mason Australia

Keeping customer information secure is a top priority for us at Legg Mason Asset Management Australia Limited ("Legg Mason Australia"). In Australia, Legg Mason Australia is subject to the Australian Privacy Principles under the Privacy Act 1988 (Cth) and the 13 Australian Privacy Principles, this document outlines how we intend to deliver all the rights and protections customers are entitled to. Where there are differences between the Legg Mason Australia Privacy Promise and the Privacy Act, the stronger protection applies. This policy also describes:

  • who we collect information from;
  • the types of personal information collected and held by us;
  • how this information is collected and held;
  • the purposes for which your personal information is collected, held, used and disclosed;
  • how you can gain access to your personal information and seek its correction;
  • how you may complain or inquire about our collection, handling, use or disclosure of your personal information and how that complaint or inquiry will be handled; and
  • whether we are likely to disclose your personal information to any overseas recipients.

Who do we collect personal information from?

In the course of providing our products and services Legg Mason Australia including our related entities may collect personal information from clients, or potential clients 1.

What types of personal information do we collect?

In the course of providing products and services, but may collect:

  • Personal Information including names, addresses and other contact details; dates of birth; and financial information.
  • Sensitive Information including government identifiers (such as your TFN), your nationality, country of birth, professional memberships, family court orders and criminal records.

How do we collect and hold your personal information?

How we collect personal information will largely be dependent upon whose information we are collecting. If it is reasonable and practical to do so, we collect personal information directly from you.

Where possible Legg Mason Australia has attempted to standardise the collection of personal information in the use of specifically designed forms (e.g. our Application Forms). However given the nature of our operations we often also receive personal information by email, letters, notes, over the telephone, in face-to-face meetings and through financial transactions.

We may also collect personal information from other people (e.g. a third party administrator) or independent sources, however, we will only do so where it is not reasonable and practical to collect the information from you directly.

Sometimes we may be provided with your personal information without having sought it through our normal means of collection. We refer to this as "unsolicited information". Where we collect unsolicited information we will only hold, use and or disclose that information if we could otherwise do so had we collected it by normal means. If that unsolicited information could not have been collected by normal means then we will destroy, permanently delete or de-identify the information as appropriate.

Use and Disclosure of Information

We will only collect, store and disclose personal information reasonably necessary for one or more of our functions or activities (the primary purpose) or for a related secondary purpose that would be reasonably expected by you, or to which you have consented. Such purposes may include:

  • processing an application;
  • processing receipts and payments; and servicing customer accounts;
  • responding to customer inquiries about applications, accounts or services;
  • understanding customer's needs and offering products to meet those needs;
  • meeting the legislative requirements of laws such as the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth); and
  • allowing our affiliates and selected third parties to promote their products and services to customers;

If you do not provide personal information requested, Legg Mason Australia may not be able to provide a particular service or may be required by law to take particular actions such as deducting taxation at the top marginal rate.

We may also need to collect personal information in order to comply with our legal obligations, such as the AML/CTF laws, under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

It may be necessary for Legg Mason to disclose your personal information to certain third parties in order to assist us with one or more of our functions or activities. This may include organisations providing fund administration or custodial services under an arrangement with us.

We only collect sensitive information reasonably necessary for one or more of these functions or activities if we have the consent of the individuals to whom the sensitive information relates, or if the collection is necessary to lessen or prevent a serious threat to life, health or safety or another permitted general situation.

The nature of information collected and maintained by Legg Mason Australia generally comprises name, address, telephone number, other identifying information and certain personal financial details ("personal information"). We consider this personal information and other account information which we collect from you on applications or other forms, to be confidential. We will take steps to safeguard it according to strict standards of security and confidentiality.

Legg Mason Australia is able to offer you a wide range of financial services and products which may be of value to you. We are committed to respecting the privacy of your personal information. If you do not wish us or other companies to communicate marketing offers to you, you may withdraw your consent by simply informing us:

By Mail: PO Box 24011, Melbourne VIC 3001
By Phone: 1800 679 541

In common with many organisations, we are able to keep our costs down by obtaining some routine services from external service providers. Unless you have instructed us otherwise, your information may be provided to such external service providers for these purposes.

Quality of Personal Information

It is our intention to ensure that the personal information in our client files is complete and accurate. To assist us with this, please notify us about changes to the information you have provided to us. Furthermore, if you believe that the information that we have about you is not accurate, complete or up to date, please contact the Privacy Officer at the above address and we will use all reasonable effort to correct the information. Once we have ceased using your personal information, we will either destroy or de-identify your personal information.

Access and Further Information

We may store information about you in databases that may be maintained inside or outside Australia by other companies in the Legg Mason, Inc. group or by other third party storage providers.

We store personal information in a variety of formats including on databases, in hard copy files and on personal devices, including laptop computers.

The security of your personal information is of paramount importance to us and we take all reasonable steps to protect the personal information we hold about you from misuse, loss, unauthorised access, modification or disclosure.

These steps include:

  • Restricting access to information on our databases on a need to know basis with different levels of security being allocated to staff based on their roles and responsibilities and security profile.
  • Ensuring all staff are aware that they are not to reveal or share personal passwords.
  • Ensuring where sensitive information is stored in hard copy files that these files are stored in lockable filing cabinets in lockable rooms. Access to these records is restricted to staff on a need to know basis.
  • Implementing physical security measures at our premises to prevent break-ins.
  • Implementing security systems, policies and procedures designed to protect personal information storage on our computer networks.
  • Implementing human resources policies and procedures, such as email and internet usage, confidentiality and document security policies, designed to ensure that staff follows correct protocols when handling personal information.
  • Undertaking due diligence with respect to third party service providers who may have access to personal information, including customer identification providers and cloud service providers, to ensure as far as practicable that they are compliant with the Australian Privacy Principles or a similar privacy regime.

Personal information we hold that is no longer needed, or required to be retained by any other laws, is destroyed in secure manner, deleted or de-identified as appropriate.

Our website may contain links to other websites. We do not share your personal information with those websites and we are not responsible for their privacy practices. Please check their privacy policies.

When we disclose your personal information

We only use personal information for the purposes for which it was given to us, or for purposes which are directly related to one or more of our functions or activities. We may disclose your personal information to government agencies, and other recipients from time to time, only if one or more of the following apply:

  • you have consented;
  • you would reasonably expect us to use or disclose your personal information in this way;
  • we are authorised or required to do so by law;
  • disclosure will lessen or prevent a serious threat to the life, health or safety of an individual or to public safety;
  • where another permitted general situation applies;
  • disclosure is reasonably necessary for a law enforcement related activity.

Disclosure of your personal information to overseas recipients

We may disclose personal information about an individual to overseas organisations that help us provide our services, in certain circumstances we will however take all reasonable steps not to disclose an individual's personal information to overseas recipients unless:

  • we have the individual's consent (which may be implied);
  • we have satisfied ourselves that the overseas recipient is compliant with the Australian Privacy Principles, or a similar privacy regime;
  • we form the opinion that the disclosure will lessen or prevent a serious threat to the life, health or safety of an individual or to public safety; or
  • we are taking appropriate action in relation to suspected unlawful activity or serious misconduct

How we ensure the quality of your personal information

We take all reasonable steps to ensure the personal information we hold, use and disclose is accurate, complete and up-to-date. These steps include ensuring that the personal information is accurate, complete and up-to-date at the time of collection and when using or disclosing the personal information.

On an ongoing basis we maintain and update personal information when we are advised by individuals or when we become aware through other means that their personal information has changed.

Please contact us if any of the details you have provided change. You should also contact us if you believe that the information we have about you is not accurate, complete or up-to-date.

How to gain access to your personal information we hold

If you are a client of Legg Mason Australia, you may request access to your personal information that Legg Mason Australia or an outsourced service provider hold in relation to your investment by submitting your request in writing to the address noted above.

We will provide you with access to this information if we are able to. We retain the right to request adequate proof of identification before authorising any requests for access to personal information. Please note that a fee may apply to such access which we will inform you about prior to charging it.

If we do not agree to provide you with access or to amend your personal information as requested you will be notified accordingly. Where appropriate we will provide you with the reason/s for our decision. If the rejection relates to a request to change your personal information you may make a statement about the requested change and we will attach this to your record.

Privacy Amendment (Notifiable Data Breaches) Bill 2017 (Cth)

On 13 February 2017, Federal Parliament passed the Privacy Amendment (Notifiable Data Breaches) Bill 2016 (Cth) to introduce mandatory data breach reporting regime, requiring certain organisations to report "a serious data breach" to the Australian Information Commissioner.

The Bill seeks to introduce a new obligation on relevant organisations to report a "serious data breach" to the Australian Information Commissioner and notify individuals whose data is affected by a breach.

The scheme apply to private organisations with a turnover of $3million or more, credit reporting bodies, credit providers and recipients of tax file number information i.e. Legg Mason Australia.

What is a "serious breach"?

In simple terms, it is the unauthorised access or disclosure of:

  • personal information;
  • credit reporting information, or
  • tax file information

and which puts the individuals affected at 'real risk' of serious harm.

Real risk is subjective test (much like determining what is a significant breach for AFSL holders) and takes into consideration factors such as the sensitivity of the disclosed information, any security measures attaching to that information and the type of security measures in place.

The scope for 'harm' is broad and includes physical, psychological, emotional, reputational, economic and financial harm.


If a serious breach has occurred, we must notify the Commissioner and affected individuals (and/or organisations) that it deems to be 'at risk'. This must be done as soon as practicable after the organisation becomes aware that there are reasonable grounds to believe that a serious data breach has occurred. The notification must include:

  • the identity and contact details of the organisation;
  • description of the serious breach;
  • kinds of information concerned; and
  • recommendations about the steps that individuals should take in response to
  • the serious data breach.

The notification requirements will commence on 23 February 2018.

Timeframe for reporting

Organisations will be required to report a serious breach within 30 days.

Failure to do so may attract penalties of up to $340,000 for individuals and up to $1.7 million for organisations.

Exceptions to reporting

The Bill provides for circumstances where it may be impracticable to provide sufficient notice to affected individuals or entities. In such cases, an organisation will not be required to provide notice directly to each affected individual; but will be required to publish information about the breach on its website and take reasonable steps to publicise the information.

Alternatively, if an organisation has taken remedial steps following a potential or actual eligible data breach, it is also exempt from the requirement to notify the Commissioner of the breach. The Commissioner also has the discretion to provide an exemption where the Commissioner is satisfied that it is reasonable in circumstances to do so.

Privacy Complaints

If you have any complaints regarding the collection, use or management of your personal information, please contact us:

By Mail: PO Box 24011, Melbourne VIC 3001
By Phone: 1800 679 541

We will respond to your complaint within a reasonable time (usually no longer than 30 days). Please note we may seek further information from you in order to provide a full and complete response.

If practical, you may contact us anonymously (i.e. without identifying yourself) or by using a pseudonym. However, if you choose not to identify yourself, we may not be able to give you the information or provide the assistance you might otherwise receive if it is not practicable to do so.

In addition you may write to The Office of the Australian Information Commissioner at GPO Box 5218, Sydney NSW 2001.


Legg Mason Australia may make changes to the Legg Mason Australia Privacy Policy from time to time for any reason. We will publish those changes on our web site. This Privacy Policy was last amended in April 2017.

1 Australian Privacy Principles Guidelines. Chapter B: Key Concepts
B.85 Personal Information is defined .y "information or an opinion about an identified individual, or an individual who is reasonably identifiable:
1. 1) whether the information or opinion is true or not; and
2. 2) whether the information or opinion is recorded in a material form or not' ((see s.6(1) Privacy Act 1988 "personal information ").B.89
Personal information that has been de-identified will no longer be personal information. Personal information is de-identified if the information is no longer about an identifiable individual or an individual who is reasonably identifiable(see paragraph B.59).

Legg Mason Asset Management Australia Limited, ABN 76 004 835 849, AFSL No. 240827