When you close your Debitum account, we do not immediately delete all personal data. As a regulated investment brokerage firm supervised by the Bank of Latvia and operating under MiFID II and AML regulations, we are legally required to retain certain records for a defined period after the end of the business relationship.
Regarding your personal data, please note that Debitum Investments will cease active use of any personally identifiable information about you as a user of the platform within one month from the closure of your account.
However, we are required to retain your personal data for a period of 10 years following the end of our business relationship, or for such longer duration as mandated by applicable local laws.
Specifically, under the Law on Prevention of Money Laundering and Terrorist Financing, personal data must be kept for at least 5 years. The additional 5 years of retention is based on Debitum Investments’ legal interests, which pertain to the ordinary limitation period for potential or ongoing court claims or other legal reasons.
What data may be deleted earlier?
If data is no longer required for regulatory, legal, or contractual purposes, it may be securely deleted or anonymized.
Marketing preferences and newsletter subscriptions can be removed at any time, independently of account closure. You can do it in Account Settings - Notifications.
Can I request deletion?
You have the right to request erasure under Article 17 GDPR. However, this right is limited where retention is required by law. If regulatory obligations apply, we will inform you which data must be retained and why.
Where can I read more?
Please visit our GDPR and Privacy Policy page on our website.