Regulatory Alerts2022-10-20
Compliance with EBA Guidelines on the Equivalence of Confidentiality Regimes (EBA/GL/2022/04)
The Prudential Supervision and Resolution Authority (ACPR) declares its compliance with the European Banking Authority's guidelines on the equivalence of confidentiality regimes. These new guidelines, which replace the 2015 recommendations, expand the scope of professional secrecy assessments to include the Payment Services Directive (DSP2), the Bank Recovery and Resolution Directive (BRRD), and the Anti-Money Laundering Directive (AMLD). This alignment ensures that third-country confidentiality regimes are evaluated against a broader set of EU regulatory frameworks beyond the Capital Requirements Directive.
OPINION Compliance with the European Banking Authority Guidelines EBA/GL/2022/04 on the equivalence of confidentiality regimes
The Prudential Supervision and Resolution Authority declares itself compliant with the guidelines of the European Banking Authority (EBA/GL/2022/04) on the equivalence of confidentiality regimes.
These new guidelines repeal and replace the recommendations on the equivalence of confidentiality regimes published by the EBA in 2015 and amended several times since.
These guidelines provide, in particular, that the assessments of the professional secrecy regimes of third-country authorities conducted by the EBA are carried out not only with regard to Title VII, Chapter 1, Section II of Directive 2013/36/EU (CRD), but also with regard to Article 24 of Directive 2015/2366/EU concerning payment services in the internal market (PSD2), Articles 84 and 98 of Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms (BRRD), as well as Chapter VI, Section 3, Sub-section III bis of Directive 2015/849/EU on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLD).