Guidelines on the equivalence of confidentiality regimes

EBA/GL/2022/04
3 May 2022
Final report
Guidelines on the equivalence of confidentiality and professional secrecy regimes of third-country authorities

FINAL REPORT ON THE GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 2 Contents Executive summary 3 Background and rationale 5
2.1 Confidentiality regimes and supervisory colleges 5
2.2 Confidentiality and cooperation arrangements 6
2.4 Scope of the assessment 7
Guidelines 9
Compliance and reporting obligations 11 Subject matter, scope and definitions 12 Implementation 13 Assessment of equivalence 13
Annex 14
Accompanying documents 48

FINAL REPORT ON THE GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 3 Executive summary Over the past few years, the EBA has assessed the confidentiality regimes of third-country supervisory authorities to facilitate the application of Article 116(6) Directive 2013/36/EU (Capital Requirements Directive – CRD), which states that third countries' supervisory authorities may participate in EU supervisory colleges ‘where appropriate and subject to confidentiality requirements that are equivalent, in the opinion of all competent authorities’ established by the CRD. The results were first published in a set of Recommendations in 2015, then amended in 2017 and 2018 to include other third-country authorities that had been assessed as equivalent. In 2020, the Recommendations were amended to include another third-country authority and the title was changed to ‘Guidelines’ 1 . Regulation (EU) No 1093/2010 (the EBA Regulation), as amended in 2019, states in Article 33 (4) that the EBA shall cooperate ‘with the relevant competent authorities, and where applicable, also with resolution authorities, of third countries whose regulatory and supervisory regimes have been recognised as equivalent’ through administrative arrangements concluded with the relevant authorities of those third countries. Similarly, Article 55 of the CRD, also applicable in conjunction with Article 24(3) of Directive (EU) 2015/2366 (Payment Services Directive – PSD2), Article 97 and 98(1) of Directive 2014/59/EU (Bank Recovery and Resolution Directive – BRRD), and Article 57a (5) of Directive (EU) 2015/849 (Anti-Money Laundering Directive – AMLD) all provide for the possibility for EU authorities to conclude cooperation arrangements with authorities from third countries. A key precondition for such arrangements to be concluded is that the third-country authorities are subject to a professional secrecy and confidentiality regime that is deemed equivalent – as relevant – to that applicable under Union law, as the latter is set out in Title VII, Chapter 1, Section II of the CRD (which is also relevant in the PSD2 context in accordance with Article 24 of the PSD2), Article 84 of the BRRD and Chapter VI, Section 3, Subsection IIIa of the AMLD. To facilitate cooperation with third-country authorities as well as the functioning of supervisory and (where relevant) resolution colleges, the EBA performs its equivalence assessment evaluating the professional secrecy and confidentiality regimes applicable to third-country authorities (hereafter ‘the assessment’). This assessment relies on the satisfactory presence of key elements equivalent to those in the EU confidentiality regime provisions applicable to third-country authorities. The key elements of the EU confidentiality regime are defined in Articles 53-61 of the CRD (also relevant to the PSD2 in accordance with Article 24 of the PSD2) and, where relevant, by Article 84 and Article 98 of the BRRD and Chapter VI, Section 3, Subsection
IIIa of the AMLD. This assessment is reflected in the table in the Annex showing the provisions applicable to each third-county authority for each of the principles that define the EU confidentiality regime. 1 The new Article 16(1) of the EBA Regulation states that ‘the Authority shall, with a view to establishing consistent, efficient and effective supervisory practices within the ESFS, and to ensuring the common, uniform and consistent application of Union law, issue guidelines addressed to all competent authorities or all financial institutions.’

FINAL REPORT ON THE GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 4 Next steps The Guidelines will be translated into the official EU languages and published on the EBA website. The deadline for competent authorities to report whether they comply with the Guidelines will be two months after the publication of the translations. The Guidelines will apply two months after the publication date at the latest.

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 5 Background and rationale
2.1 Confidentiality regimes and supervisory colleges

1. Article 116 (6) of the CRD, as well as European Commission Delegated Regulations 2 on the
   functioning of supervisory colleges, provide for the possibility of third-country authorities participating in such colleges as observers on condition that those authorities are subject to a professional secrecy and confidentiality secrecy regime equivalent to that applicable under Union law 3 .
2. The EBA is tasked with contributing to the establishment of high-quality common regulatory and
   supervisory standards and practices, inter alia by developing guidelines and recommendations with a view to:
   − contributing to the consistent application of legally binding Union acts; − facilitating the establishment of a common supervisory culture; − ensuring the consistent, efficient and effective application of Union law; − preventing regulatory arbitrage; − mediating and settling disagreements between competent authorities; − ensuring the effective and consistent supervision of financial institutions; and − ensuring the coherent functioning of supervisory and resolution colleges.
3. Therefore, in order to facilitate the application of Article 116(6) of the CRD and provide common
   guidance for cases in which a third-country supervisory authority were subject to an equivalent confidentiality and professional secrecy regime to that applicable in the Union, over the past few years the EBA has assessed a number of third-country supervisory authorities. These assessments have been reflected in the Guidelines on the equivalence of confidentiality and professional secrecy regimes of 2015, (EBA/REC/2015/01 - REPEALED, in their version as last amended in 2020 by EBA/GL/2020/03). 2 COMMISSION IMPLEMENTING REGULATION (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council OJ L 21 of 28.01.2016 p. 21; COMMISSION DELEGATED REGULATION (EU) 2016/98 of 16 October 2015 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards for specifying the general conditions for the functioning of colleges of supervisors OJ L 21 of 28.01.2016 p. 2 3 It is noted that Articles 88 and 89 of the BRRD, as well as Article 50 seq. of COMMISSION DELEGATED REGULATION (EU) 2016/1075 of 23 March 2016 (OJ L 184 of 8.7.2016 p. 1), also provide for the same requirement in the context of resolution colleges.

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 6
2.2 Confidentiality and cooperation arrangements
4. In addition to the efficient functioning of supervisory colleges, equivalent confidentiality and
professional secrecy frameworks in third-country authorities are also relevant for international cooperation and collaboration arrangements.
5. To this extent, Article 33(4) of the EBA Regulation states that the EBA shall cooperate ‘with the
relevant competent authorities, and where applicable, also with resolution authorities, of third countries whose regulatory and supervisory regimes have been recognised as equivalent’ through administrative arrangements concluded with the relevant authorities of those third countries. In a similar manner, Article 55 of the CRD, also applicable by virtue of Article 24(3) of the Payment Services Directive (PSD2) for cooperation in supervision in the area of payment services, Article 97 and 98 (1) of the Bank Recovery and Resolution Directive (BRRD) and Article 57a (5) of the Anti￾Money Laundering Directive (AMLD), all provide for the possibility for EU authorities to conclude cooperation arrangements with authorities from third countries.
6. A key precondition for such arrangements to be concluded is that the third-country authorities are
subject to a professional secrecy and confidentiality regime that is deemed equivalent to that applicable under Union law, as the latter is set out in Title VII, Chapter 1, Section II of the CRD (also relevant in the PSD2 context in accordance with Article 24 PSD2), Article 84 of the BRRD and
Chapter VI, Section 3, Subsection IIIa of the AMLD.
7. In light of the above, the EBA is widening the scope and purpose of the assessment so that it can
facilitate:
− the functioning of supervisory colleges under Article 116 (6) of the CRD and – where relevant – resolution colleges under Articles 88 and 89 of the BRRD and AML/CFT colleges under the AML/CFT Guidelines 4 ; − cooperation with third-country authorities within the remit of banking, payment services, AML/CFT supervision and resolution matters.
2.3 Purpose of the Guidelines
8. The Guidelines provide guidance that should inform the opinions of competent authorities
(including tasks such as consolidating supervisors or group level resolution authorities) as to whether the third-country authorities are deemed to be subject to a professional secrecy and confidentiality regime equivalent to that applicable under Union law, as set out in Title VII, Chapter 1, Section II of the CRD (relevant also within the PSD2 context and in accordance with Article 24 PSD2), Article 84 and 98 of the BRRD and Chapter VI, Section 3, Sub-section IIIa of the AMLD, for the purposes both of the functioning of the supervisory and resolution colleges under Article 116 (6) of the CRD and Articles 88 and 89 of the BRRD and for the conclusion of cooperation 4 See joint guidelines on cooperation and information exchange for the purpose of Directive (EU) 2015/849 between competent authorities supervising credit and financial institutions:
https://www.eba.europa.eu/sites/default/documents/files/document_library//Joint%20Guidelines%20on%20cooperation %20and%20information%20exchange%20on%20AML%20-%20CFT.pdf

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 7 arrangements. To this extent, the present Guidelines also apply for the purpose of cooperation arrangements signed with third-country authorities in accordance with Article 57a(5) of the AMLD to support the establishment of AML/CFT colleges in line with the AML/CFT Guidelines.
9. The Guidelines do not include guidance on whether there is a need for a cooperation arrangement
between a competent and a third-country authority or on whether a third-country authority should participate in a supervisory or resolution college.
10. The content of the previous Guidelines will therefore be incorporated into the present Guidelines
without any change in substance.
2.4 Scope of the assessment
11. The EBA has performed the assessment evaluating the professional secrecy and confidentiality
regime applicable to each third-country supervisory authority included in these Guidelines. In particular, the legal regime applicable to each third-country authority was assessed with respect to the four principles that are deemed to be the key characteristics of the EU professional secrecy regime as set out in the CRD, PSD2, BRRD and AMLD:
i. PRINCIPLE 1: the regime contains the notion of confidential information [Article 53(1) CRD;
Article 57a(1) AMLD; Article 84(3) BRRD; Article 24 PSD2];
ii. PRINCIPLE 2: the regime contains specifications on the existence of professional secrecy
obligations [Article 53 and 54a CRD; Article 24 PSD2; Article 57a AMLD; Article 84 (1-3) BRRD];
iii. PRINCIPLE 3: the regime restricts the use of confidential information [Article 54, 56, 57, 58,
58a and 59 CRD; Article 84(3), 84(5) BRRD; Article 57a, 57b AMLD; Article 24 PSD2];
iv. PRINCIPLE 4: the regime establishes restrictions on the transfer of confidential information
[Article 56-61 CRD; Article 84(4), 84(5) and 98 BRRD; Article 57a and 57b AMLD; Article 24 PSD2].
12. The table in the Annex provides information on:
a. whether the provisions applicable to each third-country authority have been assessed with respect to relevant provisions in the CRD, PSD2, BRRD, AMLD, as applicable; b. the legal references of the third-country authorities’ regime, for each of the principles above.
13. These Guidelines are issued on the basis of Article 16 of the EBA Regulation and aim to fully inform
the opinion of the relevant authorities referred to as competent authorities in Article 4 (2) of the EBA Regulation. The EBA expects to receive confirmation of the competent authorities’ compliance or of their intention to comply irrespective of whether there is an actual case of a cooperation arrangement’s conclusion or college participation.

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 8
14. In accordance with Article 16(2) of Regulation (EU) No 1093/2010, the EBA must, where
appropriate, conduct open public consultations and analyse the costs and benefits of guidelines (CBA) and request advice from the Banking Stakeholder Group (BSG). In this instance, the EBA has not conducted an open public consultation and CBA because these measures would be disproportionate considering that these Guidelines, the majority of whose content is a consolidation of previous EBA guidelines on the equivalence of confidentiality regimes, are addressed exclusively to competent authorities, concern their practices in relation to other authorities, and do not directly affect financial institutions.

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 9 Guidelines

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 10 EBA/GL/2022/04 3 May 2022 Guidelines on the equivalence of confidentiality regimes

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 11 Compliance and reporting obligations Status of these Guidelines

1. This document contains Guidelines issued pursuant to Article 16 of Regulation (EU) No
   1093/2010 5
   . In accordance with Article 16(3) of Regulation (EU) No 1093/2010, competent authorities and financial institutions must make every effort to comply with the Guidelines.
2. Guidelines set out the EBA view of appropriate supervisory practices within the European
   System of Financial Supervision or of how Union law should be applied in a particular area. Competent authorities as defined in Article 4(2) of Regulation (EU) No 1093/2010 to whom Guidelines apply should comply by incorporating them into their practices as appropriate (e.g. by amending their legal framework or their supervisory processes), including where Guidelines are directed primarily at institutions. Reporting requirements
3. According to Article 16(3) of Regulation (EU) No 1093/2010, competent authorities must notify
   the EBA as to whether they comply or intend to comply with these Guidelines, or otherwise with reasons for non-compliance, by 16 August 2022 In the absence of any notification by this deadline, competent authorities will be considered by the EBA to be non-compliant. Notifications should be sent by submitting the form available on the EBA website with the reference ‘EBA/GL/2022/04’. Notifications should be submitted by persons with appropriate authority to report compliance on behalf of their competent authorities. Any change in the status of compliance must also be reported to the EBA.
4. Notifications will be published on the EBA website, in line with Article 16(3).
   5
   Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC, (OJ L 331, 15.12.2010, p.12).

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 12 Subject matter, scope and definitions Subject matter
2. These Guidelines concern the assessment by competent authorities of whether the
confidentiality and professional secrecy regime to which the third-country authorities mentioned in the Annex are subject is equivalent to the conditions set out in Title VII, Chapter 1, Section II of Directive 2013/36/EU; in Article 24 of Directive (EU) 2015/2366; in Article 84 and 98 of Directive 2014/59/EU; and in Chapter VI, Section 3, Subsection IIIa of Directive (EU) 2015/849. Scope of application
3. These Guidelines apply to competent authorities’ assessment of the equivalence of the
confidentiality regime to which the third-country competent authorities listed in the Annex are subject to for the following purposes:
a. in order to conclude cooperation arrangements with the third-country authority in accordance with Article 55 of Directive 2013/36/EU 6 and also for the purposes of
Article 24 of Directive (EU) 2015/2366 7 and Article 57a (5) of Directive (EU) 2015/849 8
, or in accordance with Article 97 and 98 (1) of Directive 2014/59/EU 9 ; and b. in order to enable the participation of the third-country authority in supervisory and resolution colleges in accordance with Article 116 (6) of Directive 2013/36/EU and Articles 88 and 89 of Directive 2014/59/EU; and in AML/CFT colleges in accordance with Chapter VI, Section 3, Subsection IIIa of Directive (EU) 2015/849 and the AML/CFT Colleges Guidelines 10 . 6 Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338) 7 Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market and amending Directives 2002/65/EC, 2009/110/EC, 2013/36/EU and Regulation (EU) No 1093/2010 and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35) 8 Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73) 9 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190) 10 Joint guidelines on cooperation and information exchange for the purpose of Directive (EU) 2015/849 between competent authorities supervising credit and financial institutions (the AML/CFT Colleges Guidelines) of 16 December 2019, (JC 2019/81)

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 13 Addressees
4. These Guidelines are addressed to competent authorities as defined in point (2) of Article 4 of
Regulation (EU) No 1093/2010.
Definitions
5. Unless otherwise specified, terms used and defined in Directive 2013/36/EU, Directive (EU)
2015/2366, Directive 2014/59/EU and Directive (EU) 2015/849 have the same meaning in the Guidelines. Implementation Date of application
6. These Guidelines apply, at the latest, by 16 August 2022.
Repeal
7. The Guidelines on the equivalence of confidentiality regimes (EBA/REC/2015/01)
11 are repealed with effect from 16 August 2022. Assessment of equivalence
9. For the purposes of applying Article 55 of Directive 2013/36/EU also in accordance with Article
24 of Directive (EU) 2015/2366 and 57a (5) of Directive (EU) 2015/849, Article 97 and 98 (1) of Directive 2014/59/EU, Article 116 (6) of Directive 2013/36/EU and Articles 88 and 89 of Directive 2014/59/EU and the AML/CFT Colleges Guidelines, competent authorities should consider that the professional secrecy and confidentiality regime applicable to the third￾country authorities referred to in the Annex is equivalent to the regime set out in in Title VII,
Chapter 1, Section II of Directive 2013/36/EU, in Article 24 of Directive (EU) 2015/2366, in
Article 84 and 98 of Directive 2014/59/EU and in Chapter VI, Section 3, Subsection IIIa of
Directive (EU) 2015/849, where relevant depending on the competences of the third-country authority.
10. For the purposes of the previous paragraph, competent authorities should have regard to the
Annex.
11 The EBA/GL/2020/03 Guidelines were originally issued as EBA/REC/2015/01 recommendations and were subsequently amended.

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 14
Annex
AUTHORITY
ASSESSED
SCOPE OF
ASSESSMENT
12
PRINCIPLE 1
NOTION OF
CONFIDENTIAL
INFORMATION
PRINCIPLE 2
OBLIGATION OF
PROFESSIONAL
SECRECY
PRINCIPLE 3
USE OF
CONFIDENTIAL
INFORMATION
PRINCIPLE 4
RESTRICTIONS ON
THE DISCLOSURE OF
CONFIDENTIAL
INFORMATION
ADDITIONAL
INFORMATION
SANCTIONS IN
CASES OF BREACHES
OF OBLIGATIONS
Overall
Assessment
ABU DHABI
GLOBAL
MARKET
Financial
Services
Regulation
Authority https://www.a dgm.com/doin g￾business/financ ial-services￾regulatory￾authority/ (1) Sections 198, 203, 204 and 258 of the Financial Services and Markets Regulations
Article 12(16) of Law
No (4) of 2013
Sections 198 and 204 of the Financial Services and Markets Regulations Paragraph 2.10 of the FSRA Code of Conduct Paragraphs 3 and 4.2 of the FSRA Confidentiality Policy
Section 2.10 of the
FSRA Employment
Contracts
Sections 199, 215 and 216 of the Financial Services and Markets Regulations Sections 198 and 199 of the Financial Services and Markets Regulations The Application of English Law Regulation 2015
Section 2.10 of the
FSRA’s Code of
Conduct
Article 379 of the
Penal Code of the
UAE
Equivalent
12 This column indicates whether the provisions applicable to a third-country authority have been assessed with respect to relevant provisions in CRD (1), PSD2 (2), AMLD (3) and BRRD (4).

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 15
Article 379 of the UAE
Penal Code
ALBANIA
Bank of Albania
(BANKA E
SHQIPËRISË) http://www.ba nkofalbania.org (1) Article 58 (1) 1 of the Law on the Bank of Albania (BoA Law)
Article 91(1) Law
on Banks in the
Republic of Albania
(Banking Law)
Regulation No 42
(on transparency and confidentially at the BoA) Governor’s Decision No 2005 (on the use and classification of the information classified as ‘banking secret’ at the BoA)
Article 58(1) BoA Law
Article 91 (1) Banking
Law
Article 19 of the
Statute of the Bank of Albania dated 19 December 2000 Articles 13 and 27 of the Code of Conduct
Article 58(1) BoA
Law
Article 91 (1) Banking
Law
Article 19 of the
Statute of the Bank of Albania dated 19 December 2000 Articles 13 and 27 of the Code of Conduct
Article 6 of the
Governor’s Decision
No 2005
Article 58 BoA Law
Article 91 (2) Banking
Law
Article 23 BoA Law
Article 58 (2) Banking
Law Regulation No
42 (on transparency and confidentially in the BoA)
Article 91 Banking
Law
Article 91(3) Banking
Law
Supervisory Council
Decision No 21,
Articles 30, 54
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 16 ARGENTINA Banco Central República Argentina (BCRA) (1) (2) (4) Law on Financial Institutions (Law No 21,526), Article 40 Law of Access to Public Information (Law No 27,275),
Section 7-8
BCRA Charter,
Section 53
BCRA Code of
Ethics, Section 4.1
Law on Ethics for
Government Officials
(Law No 25,188),
Section 1 and Section
2f
Code of Ethics for
Government Officials,
Section 3 and Section
19
Law on Labour
Contract, Section 85
Law on Financial
Institutions (Law No
21,526), Article 40
BCRA Charter, Section
53
BCRA Code of Ethics,
Section 4.1
BCRA Staff
Regulations, Article 13 BCRA Charter,
Section 4, 46, 47
BCRA Code of Ethics,
Section 2 and 4.1
Law on Ethics for
Government Officials
(Law No 25,188),
Section 2f
Section 27 of Law on
Capital Markets No
26,831
Article 74 of Law No
20,091 on the
Insurance Supervisor
Law No 24,485 on the Deposit Insurance System Civil and Commercial Procedural Code, Sections 397, 444 Law on Access to Public Information, Sections 8b and 8f Law on Financial Institutions, Section 46, Section 35bis BCRA’s Internal Rule No 5160 Labour Contract Law BCRA Code of Ethics Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 17 Code of Ethics of the (CPCECABA), Sections 19, 20, 26 Communication A 6434 amending BCRA Minimum Regulations on External Audits AUSTRALIA Reserve Bank of Australia (RBA) http://www.rb a.gov.au/ (1) Section S79A of the Reserve Bank Act 1959, No 4, 1959
Section S79 A,B of the
Reserve Bank Act
1959, No 4, 1959
Section S79 of the
Reserve Bank Act
1959, No 4, 1959
Reserve Bank Act
1959, No 4, 1959,
Section S79, Section
10 A(1)
RBA Protected
Information,
Protected
Documents and
Maintaining
Confidentiality –
Instructions, October
2016, Section 7
Section S79A of the
Reserve Bank Act
1959, No 4, 1959
Equivalent
AUSTRALIA
Australian
Prudential
Regulation
(1) Section 56 (1) of the Australian Prudential Regulation
Section 56 of the
Australian Prudential
Section 56, Section
10 A(1) of the
Australian Prudential
Regulation Authority
Section 56 of the
Australian Prudential
Regulation Authority
Act 1998, No 50,
Section 56 (2) of the
Australian Prudential
Regulation Authority
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 18 Authority (APRA) http://www.ap ra.gov.au/Page s/default.aspx Authority Act 1998, No 50, 1998 Regulation Authority Act 1998, No 50, 1998 Act 1998, No 50, 1998 1998 Section 56,
Section 10A
Article 2 of the APRA
Protocol for Release of Documents to Third Parties so as to Maintain confidentiality, February 2013 Act 1998, No 50, 1998 BOSNIA￾HERZEGOVINA Banking Agency of Republika Srpska www.abrs.ba (1), (2), (3), (4) Article 29(1) of the Law on Banking Agency of Republika Srpska (BARS Law)
Article 29 (5) BARS
Law
Article 29 (1) BARS
Law
Article 29 (3) BARS
Law
Article 29 (4) BARS
Law
Article 29 (7) BARS
Law
Article 29 (3), (5) +
(6) BARS Law)
Article 30 BARS Law
Article 31(1), (1)(a-h)

• (2) BARS Law
  Article 32(2) BARS
  Law
  Article 125 and 125 a
  Law on Banks
  Article 29(6)
  Article 31(1) a)-i)
  BARS Law
  Article 31(2)
  Article 32(2)
  Article 269 of the
  Criminal Code
  Articles 17 + 19 of the Rules on professional secrecy of BARS
  Article 66 of the
  Work Regulations of
  BARS
  Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 19 BOSNIA￾HERZEGOVINA Banking Agency of the Federation of BiH www.fba.ba (1), (2), (3), (4) Article 19(1) of the Law on the Banking Agency (FBA Law)
Article 19(2) FBA
Law
Article 1(3)+(4) FBA
Law
Article 19(1) FBA Law
Article 19b (1) FBA
Law
Article 19 (4) FBA Law
Article 19b.(2) FBA
Law
Article 4 FBA Law
Article 9b FBA Law
Article 19 (2) FBA
Law
Article 19 (3)FBA Law
Article 19a FBA Law
Article 19b (including
a)-j)) FBA Law
Article 19b (2) FBA
Law
Article 19c (2) FBA
Law
Article 65 Law on
Banks
Article 19 (1)
Article 19 a
Article 19b (1) + (2)
FBA Law
Article 19b (including
a)-k)) FBA Law
Article 19b (1+2)
Article 19c
Article 19 (1)
Article 28b FBA Law
Article 258 of the
FB&H Criminal Law
Article 47, item j) of
the FBA Staff
Rulebook
Article 32 together
with Article 33 of the FBA Code of Ethics Equivalent BRAZIL Central Bank of Brazil (Banco (1) Article 1 of Complementary Law No 105, of 10 January 2001 (Lei Articles 1 and 2 of the Secrecy Law
Article 2, Section 1 of
the Secrecy Law
Article 1, Section 3 of
the Secrecy Law
Section II, IV-VI
Article 10 of the
Secrecy Law
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 20 Central do Brasil) www.bcb.gov.b r Complementar n.º 105, de 10 de Janeiro de 2001 – ‘Secrecy Law’)
Article 2 of the
Secrecy Law
Article 2, Section 3
Law No 12,527 of
18 November 2011
Decree No 7,724, of 16 May 2012
Article 5 Section (X)
of Brazil’s Federal
Constitution
Article 2 Section 5 of
the Secrecy Law
Article 17 of Law No
9,650 of 27 May 1998
(Lei n.º 9.650, de 27 de Maio de 1998 – ‘BCB’s Public Officers’ Law’) Law No 8,112 of 11 December 1990 (Lei n.º 8.112, de 11 de Dezembro de 1990 – ‘Public Servants’ Law’)
Article 116, Section III
Article 117, Section II
Article 117, Section VII
Article 2, Section 2 of
the Secrecy Law
Article 7 of the
Secrecy Law
Article 10, Sections
VI, VII, IX and X and
Article 44 of Law
4.595 of 31
December 1964 - Lei n.º 4.595, de 31 de Dezembro de 1964 – ‘Financial System Law’ Law 10,124 of 27 March 2001 – Lei n.º 10,124, de 27 de Março de 2011 – ‘Payments’ System Law’ Law 6,024 of 13 March 1974 – Lei n.º 6,024, de 13 de Março de 1974 – and Decree Law 2,321 of
Article 1, Section 4 of
the Secrecy Law
Article 2, Sections 4 -
7 of the Secrecy Law
Article 3 of the
Secrecy Law including §1+3
Article 4, Sections 1
and 2 of the Secrecy
Law
Article 9 of the
Secrecy Law
(including Section 2)
Article 10, sole
section, of the
Secrecy Law
Article 5, Section (X)
of Brazil’s Federal
Constitution
Article 11 of the
Secrecy Law
Article 121 of the
Public Servants’ Law
Article 132, Section
IX of the Public
Servants’ Law
Article 17 of the
BCB’s Public Officers’ Law
Article 11, Section III
and Article 12,
Section III of Law No
8,429 of 2 June 1992

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 21 25 February 1987 – Decreto-Lei n.º 2.321, de 25 de Fevereiro de 1987 Law 9,447 of 14 March 1997 – Lei n.º 9.447, de 14 de Março de 1997 in Article 3 of Decree 3,724 of 10 January 2001 CANADA Office of the Super￾intendent of Financial Institutions (Office of the Super￾intendent of Financial Institutions/ Bureau du surintendant des institutions financières) (1) Section 18(1+5) of the OSFI Act
Section 22 OSFI Act
Section 22(1)(a) of
the OSFI Act
Sections 606, 636 and 955 + 980 of the Bank Act
522.27 of the Bank
Act
Sections 435 + 465 of the Cooperative
Section 22 of the OSFI
Act
Sections 4.5 to 4.8 +
Section 5.2 from OSFI
Code of Professional
Conduct
Sections 18, 22,
22(1)(b), 22 (1.1) of the OSFI Act Sections 606, 636 and 955 + 980 of the Bank Act
522.27 of the Bank
Act
Sections 435 + 465 of the Cooperative Credit Associations Act Sections 672 and 998

• 1023 of the
  Section 22 of the
  OSFI Act
  Paragraphs 5, 11 and
  12 OSFI Act
  Section 980 of the
  Bank Act
  Section 465 of the
  Cooperative Credit
  Associations Act
  Section 533 of the
  Trust and Loan
  Companies Act
  Section 22 (1+3) of
  the OSFI Act
  Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 22 www.osfi￾bsif.gc.ca Credit Associations Act Sections 672 and 998 + 1023 of the Insurance Companies Act Sections 503 +533 of the Trust and Loan Companies Act.] Insurance Companies Act Sections 503 +533 of the Trust and Loan Companies Act.] Sections 4.5 to 4.8 +
Section 5.2 from
OSFI Code of
Professional Conduct
OSFI Act paragraphs
5, 11 and 12
Access to
Information Act 1983
Part 1 of the
Proceeds of Crime
(Money Laundering) and Terrorist Financing Act
Section 37 of the
Canada Evidence Act

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 23 CHINA China Banking and Insurance Regulatory Commission (1) (4) Administrative Rules on Professional Secrecy and Confidentiality (ARPSC), Chapter 10 Civil Servant Law of the People’s Republic of China (CSL, the Order of the PRC President, 2003)
Article 11 of the Law
of the People’s
Republic of China on
Banking Regulation and Supervision (LBRS, the Order of the PRC President, 2006)
Article 14 and Article
59 of CSL
Article 63, Chapter 10
and Article 32 of
ARPSC
CBIRC Interim
Measures of the
Administration of
Seconded Personnel
CBIRC Interim
Measures of the
Administration of
Contract Personnel
Rules on
Confidentiality
Management for
Article 11 of LBRS
Article 59 of ARPSC
Article 14 and 15
Regulation of the
People's Republic of
China on the
Disclosure of
Government
Information (RDGI, issued by the State Council in 2007)
Article 63, Article 77
of ARPSC
Articles 6, 11 and 14 of LBRS Civil Servant Law of the People's Republic of China (CSL, 2018) Regulation on the Punishment of Civil Servants of Administrative Agencies (2007)
Article 43 of LBRS
Articles 77 – 78 of
ARPSC
Civil Servant Law of the People's Republic of China (CSL, 2018) Regulation on the Punishment of Civil Servants of Administrative Agencies (2007) Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 24 Seconded and Contract Personnel of CBIRC Headquarters Banking Supervision Law of the People’s Republic of China,
Article 43
State Compensation
Law of the People’s
Republic of China,
Article 4
Civil Procedure Law of the People’s Republic of China,
Article 67 and 68
Criminal Procedure
Law of the People’s
Republic of China,
Article 54
Tax Collection
Administration law of the People’s republic of China,
Article 6
BAILIWICK OF
GUERNSEY
Guernsey
Financial
Services
Commission https://www.gf sc.gg/ (1)
Article 21 of the
Financial Services
Commission
(Bailiwick of
Guernsey) Law
Article 43 of the
Banking
Supervision
(Bailiwick of
Guernsey) Law
Article 34A of the
Protection of
Article 21 of the
Financial Services
Commission (Bailiwick of Guernsey) Law
Article 43 of the
Banking Supervision
(Bailiwick of Guernsey) Law
Article 34A of the
Protection of Investors (Bailiwick of Guernsey) Law
Section 2(2) and 2(3)
of the Financial
Services Commission
(Bailiwick of
Guernsey) Law
Article 34B of the
Protection of investors (Bailiwick of Guernsey) Law
Article 80 of the
Insurance Business
(Bailiwick of
Guernsey) Law
Section 21 of the
Financial Services
Commission
(Bailiwick of
Guernsey) Law
Articles 44 and 45 of the Banking Supervision (Bailiwick of Guernsey) Law Articles 34B and 34C of the Protection of
Section 21 of the
Financial Services
Commission
(Bailiwick of
Guernsey) Law
Article 43 of the
Banking Supervision
(Bailiwick of
Guernsey) Law
Article 34A of the
Protection of
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 25 lnvestors (Bailiwick of Guernsey) Law
Article 79 of the
Insurance Business
(Bailiwick of
Guernsey) Law
Article 56 of the
Insurance
Managers and
Insurance
Intermediaries
(Bailiwick of
Guernsey) Law
Article 43 of the
Regulation of
Fiduciaries,
Administration businesses and Company Directors etc. (Bailiwick of Guernsey) Law
Article 79 of the
Insurance Business
(Bailiwick of Guernsey) Law
Article 56 of the
Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law
Article 43 of the
Regulation of
Fiduciaries,
Administration businesses and Company Directors etc. (Bailiwick of Guernsey) Law
Article 57 of the
Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law
Article 44 of the
Regulation of
Fiduciaries,
Administration businesses and Company Directors etc. (Bailiwick of Guernsey) Law lnvestors (Bailiwick of Guernsey) Law Articles 80, 84, 81A of the Insurance Business (Bailiwick of Guernsey) Law Articles 57, 58, 58A of the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law Articles 44 and 45 of the Regulation of Fiduciaries, Administration businesses and Company Directors etc. (Bailiwick of Guernsey) Law Paragraph 2.7 of the Instrument of Delegation lnvestors (Bailiwick of Guernsey) Law
Article 79 of the
Insurance Business
(Bailiwick of
Guernsey) Law
Article 56 of the
Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law
Article 43 of the
Regulation of
Fiduciaries,
Administration businesses and Company Directors etc. (Bailiwick of Guernsey) Law

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 26 HONG KONG Hong Kong Monetary Authority (HKMA) http://www.hk ma.gov.hk/eng/ index.shtml (1) Section 120.1-4 of the Hong Kong Banking Ordinance
Section 120.1.a-c; and
Section 120.2 of the
Hong Kong Banking
Ordinance
Chapter 521, Hong
Kong Official Secrets
Ordinance
Paragraphs 2-5
(Integrity) of the
HKMA Administration
Circular No 4/2014
Code of conduct
Paragraphs 7-8, and para. 27 of the HKMA Policy and Procedures on Post-Termination Employment of HKMA Staff
Section 120.1 and
Section 7.1-2 of the
Hong Kong Banking
Ordinance
Section 120.5 of the
Hong Kong Banking
Ordinance
Section 120.6 of the
Hong Kong Banking
Ordinance
Equivalent
HONG KONG
Securities and
Futures
Commission
(1) Chapter 571,
Section 378.1.a and
c and Schedule 1,
Part 1.1 (definitions
in alphabetical order) of the Hong
Chapter 571, Section
378.1 of the Hong
Kong Securities and
Futures Ordinance
(SFO)
Section 5.1. of the
Hong Kong Securities and Futures Ordinance (SFO)
Section 378.2-3, 5, 7
and 9 of the Hong
Kong Securities and
Futures Ordinance
(SFO)
Section 378.10-11 of
the Hong Kong
Securities and
Futures Ordinance
(SFO)
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 27 https://www.sf c.hk/ Kong Securities and Futures Ordinance (SFO) Manual of the Intermediaries Supervision Department (ISD),
Section VII, Article
7.1, 7.2, 7.3
JAPAN
Bank of Japan
(BoJ) https://www.b oj.or.jp/en/ (1) Article 29 of the Bank of Japan Act
Article 100 (1) of
the National
Service Public Act
Supreme Court sentence (only available in Japanese) Judgement date: 31 May 1978; case number:  1976 (A) 1581; http://www.courts. go.jp/app/hanrei_j p/detail2?id=51114
Article 29 of the Bank
of Japan Act
Article 23 of the
Attorney Act
Article 27 of the
Certified Public
Accountants Act
(courtesy translation provided by BoJ)
Article 1,29 of Bank
of Japan Act
Article 1,29 of the
Bank of Japan Act
Article 4 of the Act
for the
Establishment of the
Ministry of Finance
Article 4 of the Act
for the
Establishment of the
Financial Services
Agency
Articles 22, 23, 34 of the Deposit Insurance Act
Article 1-3 of the
Internal Rule on
Treatment of
Confidential
Article 63 of the
Bank of Japan Act
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 28 Information Received from Foreign Authorities Articles 190, 197, 220 of the Code of Civil Procedure
Article 218 of the
Code of Criminal
Procedure
JAPAN
Japan Financial
Services
Agency (JFSA) http://www.fs a.go.jp/en/ (1) Article 100(1) National Public Service Act (NPSA) Supreme Court sentence (only available in Japanese) Judgement date: 31 May 1978 Case number:  1976 (A) 1581 http://www.courts. go.jp/app/hanrei_j p/detail2?id=51114
Article 100(1) of the
National Public Service Act
Article 100(1) of the
National Public
Service Act
Article 4 of the Act
for the
Establishment of the
JFSA (AEJFSA) - courtesy translation provided by JFSA
Chapter III, Article
3.1.1 of the JFSA
Information Security
Policy (only available in Japanese) Articles 191, 197, 223 of the Code of Civil Procedure

• Articles 103, 144 of
  the Code of Criminal
  Procedure
  Articles 97 (5), (6) of the Labor Bank Act
  Article 37 of the
  Deposit Insurance
  Act
  Act on International
  Assistance in
  Investigation and
  Article 82 and Article
  109 of the National
  Public Service Act
  Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 29 Other Related Matters Implementing rules on grading and handling of information, Article 7 SOUTH KOREA Bank of Korea http://www.bo k.or.kr/eng/eng (1)
Article 42 of the
Bank of Korea Act
Article 9 of the
Official Information and Disclosure Act Articles 31, 33 of the Statistics Act
Article 4(1) of the
Act on Real Name
Financial
Transactions
Articles 313 and
314 of the Debtor
Rehabilitation and
Bankruptcy Act
Article 42 of the Bank
of Korea Act
Article 34 of the
Statistics Act
Article 4 of the Act on
Real Name Financial
Transactions
Article 127 of the
Criminal Act
Article 20 of the
Certified Public
Accountant Act
Article 26 of the
Attorney-at-law Act
Articles 1, 28, 42, 56- 59, 64-65, 68-69, 81 of the Bank of Korea Act
Article 94 of the Bank
of Korea Act
Article 20 of the
Foreign Exchange
Transactions Act
Articles 303, 315 and
3017 of the Civil
Procedure Act
Articles 106 – 109 and 111 of the Criminal Procedure Act
Article 4 of the Act on
Real Name Financial
Transactions
Article 11, 21 of the
Official Information and Disclosure Act
Article 104 of the
Bank of Korea Act
Article 127 of the
Criminal Act
Article 4 and 6 of the
Act on Real name
Financial
Transactions and
Guarantee of
Secrecy
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 30
Article 4 of the
Regulation on exchange of information according to Article 94 of the Bank of Korea Act SOUTH KOREA Financial Supervisory Service https://english. fss.or.kr/fss/en g/main.jsp (1) Articles 3 and 35 of the Act on the establishment of the Financial Services Commission
Article 9 of the
Official Information and Disclosure Act
Article 22 of the
Foreign Exchange
Transaction Act
Article 4 of the Act
on Real Name
Financial
Transactions and
Confidentiality
Article 35 of the
Financial Services
Commission Act
Article 20 of the
Certified Public
Accountant Act
Article 26 of the
Attorney-at-Law Act
Article 4 (1), (4) of the
Act on Real Name
Financial Transactions and Confidentiality (ARNFTC)
Article 22 of the
Foreign Exchange
Transactions Act
(FETA)
Articles 17, 35 (2),
37, 38, 51 – 57, and
65 of the Financial
Services Commission
Act
Articles 17 and 21 (4) of the Depositor Protection Act
Article 65 of the
Financial Services
Commission Act
Articles 9 (1) 5, 11 and 21 of the Official Information Disclosure Act
Article 4 (1), (6) of the
Act on Real Name
Financial
Transactions and
Confidentiality
Articles 127 and 317 of the Criminal Act
Article 68 of the
Financial Services
Commission Act
Article 6 of the Act on
Real Name Financial
Transactions and
Confidentiality
Article 28 of the
Foreign Exchange
Transactions Act
(FETA)
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 31 Articles 303, 315 and 344 of the Civil Procedure Act Articles 106-109 of the Criminal Procedures Code Articles 24 and 25 of the Board of Audit and Inspection Act Articles 4 and 5 of the Act on the Submission and Management of Taxation Data
Article 128 of the
National Assembly
Act
Article 127 of the
Criminal Act
Article 7 of
Regulation on exchange of

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 32 information with foreign financial supervisory authorities KOSOVO Central Bank of the Republic of Kosovo http://bqk￾kos.org/index.p hp (1) Articles 74, 23 (4) of Law No 03/L-209 on the Central Bank of the Republic of Kosovo Articles 4 and 9 of the Central Bank of the Republic of Kosovo – Internal Rule on Confidentiality, 3 October 2014 Articles 79 and 80 of Law No 04/L-093 on Banks, Microfinance institutions and Non-bank financial institutions Articles 74 and 23 (4) of Law No 03/L-209 on the Central Bank of the Republic of Kosovo Articles 18 and 22 of the Central Bank of the Republic of Kosovo – Internal Rule on Confidentiality, 3 October 2014
Article 80 (2) of Law
No 04/L-093 on Banks,
Microfinance institutions and Non￾bank financial institutions Articles 8 (1), 32 (4), and 74 of Law No 03/L-209 on the Central Bank of the Republic of Kosovo
Article 79 (1) of Law
No 04/L-093 on
Banks, Microfinance institutions and Non￾bank financial institutions Articles 32 (4), 74 (1) and (2) of Law No 03/L-209 on the Central Bank of the Republic of Kosovo
Article 21 of the
Central Bank of the
Republic of Kosovo –
Internal Rule on
Confidentiality, 3
October 2014
Articles 79 (1) and 80 of Law No 04/L-093 on Banks, Microfinance institutions and Non￾bank financial institutions
Article 203 of Code
No 04/L-082 Criminal
Code of the Republic of Kosovo
Article 25 of the
Central Bank of the
Republic of Kosovo –
Internal Rule on
Confidentiality, 3
October 2014
Article 67 of Law No
03/L-209 on the
Central Bank of the
Republic of Kosovo
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 33 MOLDOVA National Bank of Moldova https://www.b nm.md/en (1)
Article 126(6) of the
Law on Banks’
Activities
Decision of the
Executive
Committee of the
National Bank of
Moldova No 91 of 6
April 2017, paragraph 17
Article 126 of the Law
on Banks’ Activity
Article 36 (Profesional
secrecy) of Law No
548/1995 on the
National Bank of
Moldova
Decision of the
Executive Committee of the National Bank of Moldova No 91 of 6 April 2017, paragraph 17 Articles 126 and 127 of the Law on Banks’ Activity Articles 5 and 44 of the Law on the National Bank of Moldova Articles 126(3), 127(1), 128(2), 129(1), 130(2), 130(3)(c), 131, 132(2) and 134(3) of the Law on Banks’ Activities
Article 214 of the
Criminal Procedure
Code of the Republic of Moldova (Law No122-XV of 14 March 2003)
Article 36(4) of the
Law on the National
Bank of Moldova
Article 7(4) of the
Law on access to information No 982
Article 245 10 of the
Criminal Code of the
Republic of Moldova
(Law No 985-XV dated 18 April 2002)
Article 107 of the
Contravention Code of the Republic of Moldova (Law No 218 dated 24 October 2008) Articles 53 and 211 1 of the Labour Code of the Republic of Moldova (Law No 154-XV dated 28 March 2003) Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 34 NORTH MACEDONIA National Bank of the Republic of North Macedonia www.nbrm.mk (1), (2), (3) Article 74 (paragraphs 1 to 3) of the Law on the National Bank of the Republic of Macedonia/NBRM (‘Official Gazette of the Republic of Macedonia’ No 158/10, 123/12 and 43/14)
Article 2 item 2,
Article 3
Article 12
paragraphs 1 and 2
Article 74 paragraph 1
of the Law on the
NBRM
Article 7 item 9 of
the Law on the
NBRM
Article 34 paragraphs
1, 2 and 3 of the Law on the NBRM
Article 74 paragraph
1, 2+5 of the Law on
NBRM
Article 6 paragraph 1
of the Memorandum of understanding for maintaining the financial stability and crisis management in the Republic of Macedonia
Article 37 paragraph
1 of the Audit Law
Article 17 of the Law
on the Deposit
Insurance Fund
Article 74
(paragraphs 1 and 2) of the Law on the NBRM
Article 34 paragraphs
3, 4 and 5 of the Law on the NBRM Item 15 paragraph 2 of the Decision on the manner of conducting supervision and inspection (‘Official Gazette of the Republic of Macedonia’ No 31/2008, 74/2012 and 100/2012) Articles 133 + 139 of the Banking Law
Article 11,
paragraphs 1 and 2 of the Memorandum
Article 122 item 3,
123 of the Law on the NBRM
Article 360 of the
Criminal Code
(Disclosing a professional secret) Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 35 Mexico

• Bank of
  Mexico (Banco de México) - www.banxico.o rg.mx
• National
  Banking and
  Securities
  Commission
  (Comisión
  Nacional
  Bancaria y de
  Valores) - www.cnbv.gob. mx (1) Ley Federal de Transparencia y Acceso a la información pública gubernamental - ‘LTA’ Articles 13-15, 18 + 19 of the LTA Guidelines for Classifying and Declassifying Information by Federal Public Administration Bodies (Lineamientos Generales para la clasificación y desclasificación de la información de las dependencias y entidades de la Administración Articles 14 + 63 of the LTA Articles 21 + 60 of the PDPL Articles 8 + 9 of the Public Officers’ Responsibilities Law (Ley Federal de Responsabilidades Administrativas de los Servidores Públicos – ‘PORL’) Articles 97 +142 of the LIC BM’s Law Article 58 CNBV’s Code of Conduct Principle VII Articles 2 and 4-5 bis 1, 9 + 19 of the CNBV’s Law Articles 29 bis 8 and bis 10, 97, 101, bis 1 and 142 of the LIC Articles 4 +9 of the CNBV’s Law Articles 29 bis 8 and bis 10, 97, 142-143 of the LIC Articles 91, 108, 109, bis 5, 112, 113, bis 5, 142, all from the LIC, Articles 63 and 64, of the LTA or Article 43 (V) of the BM’s Law, inter alia
  Article 13 of the
  PORL
  Articles 108, and
  109, bis 5 of the LIC
  Articles 1918 and
  2028 of the Federal
  Civil Code
  Articles 210 and 211 of the Federal Criminal Code Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 36 Pública Federal - ‘Guidelines’) Guidelines 21, 24, and 36 Personal Data Protection Law (Ley Federal de Protección de Datos Personales en Posesión de los Particulares – ‘PDPL’)
Article 3 + 21,
Section V PDPL
Article 29, bis 8, 46,
142. of the Banking
Institutions Law
(Ley de
Instituciones de
Crédito – ‘LIC’)

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 37 MONTENEGRO Central Bank of Montenegro www.cbcg.me (1) Law on the Central Bank of Montenegro
Article 84,
paragraph 1
Central Bank of
Montenegro Law
(CBML) Article 84 paragraphs 1-2 Banking Law Article 86 CBML Article 84, paragraph 3 Banking Law Article 107 Law on The Financial Stability Council
Article 6+9
Deposit Protection
Law Article 29 paragraph 2 and 3 + 35 Criminal code Article 280 Equivalent SERBIA National Bank of Serbia www.nbs.rs (1) Article 86a paragraphs 1 and 2 of the Law on the National Bank of Serbia (RS Official Gazette, No 72/2003, 55/2004, 85/2005 – other law, 44/2010, 76/2012 and 106/2012)
Article 86a paragraphs
3 and 4 of the Law on the National Bank of Serbia (RS Official Gazette, No 72/2003, 55/2004, 85/2005 – other law, 44/2010, 76/2012 and 106/2012) Law on Banks, Article 102a, Article 103, Articles 65 and 70 of the Law on the National Bank of Serbia (RS Official Gazette, No 72/2003, 55/2004, 85/2005 – other law, 44/2010, 76/2012 and 106/2012)
Article 102a of The
Law on Banks, Article
Article 65 of the Law
on the National Bank of Serbia (RS Official Gazette, No 72/2003, 55/2004, 85/2005 – other law, 44/2010, 76/2012 and 106/2012)
Article 8, paragraph
2 of The Law on
Criminal Code,
Article 240
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 38 Law on Banks (RS Official Gazette, No 107/2005 and 91/2010) Article 103, paragraph 2;
Article 109 and
Article 112,
paragraph 1, items
1)–3); Article 117, paragraph 3 paragraph 2; Article 109 and Article 112, paragraph 1, items 1) to 3); Article 117 paragraph 3 Law on Auditing,
Article 29, paragraphs
1 and 2
Law on Banks, Article
47, paragraphs 1 and
2; 48; 102a
103, paragraph 2;
Article 109 and
Article 112,
paragraph 1, items
1)–3); Article 117, paragraph 3
Article 8 of the Law
on Banks (RS Official
Gazette, No
107/2005 and
91/2010)
Banks; Article 47; 49, 102a
Article 8 of the Law
on Banks (RS Official
Gazette, No
107/2005 and
91/2010)
SINGAPORE
Monetary
Authority of
Singapore
(1) MONETARY
AUTHORITY OF
SINGAPORE ACT
(Chapter 186) –
Preservation of secrecy 14; Protection of secrecy 3 OFFICIAL SECRETS ACT (Chapter 213) Wrongful MONETARY AUTHORITY OF SINGAPORE ACT (Chapter 186) - Preservation of secrecy 14; Protection of secrecy 3. OFFICIAL SECRETS ACT (Chapter 213) Wrongful communication etc. of information. 5. MONETARY AUTHORITY OF SINGAPORE ACT (Chapter 186) Preservation of secrecy 4, 14, 23, 49B STATUTORY BODIES AND GOVERNMENT COMPANIES (PROTECTION OF MONETARY AUTHORITY OF SINGAPORE ACT (Chapter 186) Preservation of secrecy 14 STATUTORY BODIES AND GOVERNMENT COMPANIES (PROTECTION OF MONETARY AUTHORITY OF SINGAPORE ACT (Chapter 186) Preservation of secrecy 14 STATUTORY BODIES AND GOVERNMENT COMPANIES (PROTECTION OF Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 39 communication etc. of information. 5. Sections 4 and 23 of the MAS Act
Part X of the Securities
and Futures Act
Part IIIA of the
Insurance Act
Part IVB, Division 5 of
the MAS Act
MAS Act Principal objects and functions of Authority 4; assistance that may be rendered to foreign resolution authority 30AAZE; conditions for provision of assistance to foreign resolution authority 30AAZC Securities and Futures Act SECRECY) ACT (Chapter 319) Protection of secrecy 3 Directions or regulations concerning persons that have ceased to be specified financial institutions 30AAM, Moratorium 30AAO, compulsory transfer of business 30AAS, compulsory transfer of shares 30AAW, compulsory restructuring of share capital 30AAZ, general provisions as to winding up 30AAP Banking Act 43, 58 Insurance Act SECRECY) ACT (Chapter 319) Protection of secrecy 3.
Section 2(1) of the
Interpretation Act
(Chapter 1)
Section 126(2) of the
Evidence Act
SECRECY) ACT
(Chapter 319)
Protection of secrecy
3.
OFFICIAL SECRETS
ACT (Chapter 213)
Punishment 17

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 40 Assistance that may be rendered 172; conditions for provision of assistance 170 Insurance Act Assistance that may be rendered 49D 36, 40 Securities and Futures Act 106, 107, 150 SWITZERLAND Swiss Financial Market Supervisory Authority FINMA www.finma.ch (1) Federal act on the Swiss Financial Market Supervisory Authority (FINMASA; SR 956.1) Article 40, 42 + 18 FINMASA; SR 956.1
Article 14, 42, 43
Mortgage Bond Act
(SR 211.423.4);
Federal Act on
Contracts of
Insurance (SR
221.229.1);
Collective
Investment Act (SR
951.31); Banking Act
(SR 952.0); Stock
Exchange Act (SR
954.1); Anti-Money
Laundering Act (SR
955.0); Insurance
FINMASA; SR 956.1,
Article 14 (3)
FINMASA Article 38,
Banking Act (SR
952.0) Article 23bis,
40 -42
Article 320 of the
Swiss Criminal Code
Article 47 of the
Banking act
FINMASA Article 19
Government Liability
Act of 14 March
1958
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 41 Supervision Act (SR 961.0).
Article 40 of
FINMASA
TURKEY
Banking
Regulation and
Supervisory
Agency www.bddk.org. tr (1) Article 73 of the Banking Law Nr. 5411 (‘the Banking Law’)
Article 73 (incl. (2))
and Article 95 (7) of the Banking Law Code of Obligations No 818 of 22 April 1926, The Law on Relations Between Employers and Employees in Press and Media Professions No 5953 of 13 June 1952 The Maritime Labor Act No 854 of 20 April 1967 The Labor Act No 4857 of 22 May 2003
Article 73 (2) of the
Banking Law
Law No 6111 of 13
February2011
Article 73 (2-4) of the
Banking Law
Law No 6111
Article 159 of the
Banking Law
Article 239 of the
Turkish Criminal Law
Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 42 Articles 8 and 100 of the Social Securities and Public Health Insurance Law No 5510 of 31 May 2006 URUGUAY Central Bank of Uruguay http://www.bc u.gub.uy (1) ( (1), (2), (3) Articles 8, 9, 10, 11 of Law 18.381 Items 1, 2 and 3 of Resolution D-46- 2016 Articles 20 and 21 of the Central Bank Uruguay Organic Charter Articles 163 and 302 of the Criminal Code Articles 34 and 35 of the Central Bank of Uruguay Charter Articles 14 – 27 of Law 18.401 Articles 5 – 8 of Law 17.835
Article 190(3) of the
Code of Civil
Procedure
Articles 120 and 197 of the Uruguayan Constitution Articles 20 – 23 of Law 16.698 Articles 9 – 10 of Law 13.381
Article 1 of the Board
of Directors
Regulation
Article 21 of the
Central Bank of
Uruguay Charter
Articles 163 and 302 of the Criminal Code Equivalent USA

• Federal
  Deposit
  Insurance
  (1) Code of Federal
  Regulations, Title
  12, Chapter 1, Part
  4, Subpart
  18 U.S.C. Section 1905 18 U.S.C. Section 1906 12 CFR Part 4, Subpart C 12 U.S.C. section 3109(c)
  Section 317 of the
  Dodd-Frank Wall
  18 U.S.C. Section
  1905
  Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 43 Corporation – www.fdic.gov

• Office of the
  Comptroller of the Currency www.occ.treas. gov
• Board of
  Governors of the Federal Reserve System www.federalres erve.gov/
• Federal
  Reserve Bank of
  Boston – www.bostonfe d.org
• Federal
  Reserve Bank of
  New York – www.newyorkf ed.org FOIA [Freedom of Information Act] 18 U.S.C. section 641 Privacy Act of 1974 (5 U.S.C. section 552a) 12 CFR Part 4, Subpart C 12 CFR Section 211.27 and 12 CFR Part 261 12 CFR Section 309.6 and 347.207 12 CFR section 211.27 12 CFR Part 261 12 CFR section 309.6 and 347.207. Street Reform and Consumer Protection Act (Pub. L. No 111- 203, 124 Stat. 1376 (2010) 12 U.S.C. Section 5415 Federal Banking Agency Audit Act 31 U.S.C. Section 714
  Section 1542 of the
  Housing and
  Community
  Development Act of
  1992, 12 U.S.C.
  section 1831m-1
  Section 35 of the FDI
  Act, 12 U.S.C. § 1831l 12 U.S.C. section 248(k) 12 CFR 265.11

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 44

• Federal
  Reserve Bank of
  Philadelphia – www.philadelp hiafed.org
• Federal
  Reserve Bank of
  Cleveland – www.cleveland fed.org
• Federal
  Reserve Bank of
  Richmond – www. richmondfed.or g
• Federal
  Reserve Bank of
  Atlanta – www.frbatlanta .org
• Federal
  Reserve Bank of
  Chicago –
  International
  Banking Act (12
  U.S.C. 3109(c))

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 45 www.chicagofe d.org

• Federal
  Reserve Bank of
  St. Louis – www.stlouisfed .org
• Federal
  Reserve Bank of
  Minneapolis – www.minneapo lisfed.org
• Federal
  Reserve Bank of
  Kansas City – www.kansascit yfed.org
• Federal
  Reserve Bank of
  Dallas – www.dallasfed. org

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 46

• Federal
  Reserve Bank of
  San Francisco – www.frbsf.org USA New York State Department of Financial Services https://www.df s.ny.gov (1) The New York Banking Law, paragraph 36.10 New York Public Officers Law, paragraphs 74.3(c) and 74.4 New York Banking Law, paragraphs 24, 36, 39, 44, 367, 606, 618 and 641 New York Banking Law, paragraph 36.10 New York State Department of Financial Services, Executive Order New York Public Officers Law, paragraph 74.4 Equivalent USA Securities and Exchange Commission (1) (3) (4) Section 24 of the Exchange Act 17 C.F.R. § 240.24c￾1, 17 C.F.R. § 230.122, 17 C.F.R. § 240.0-4, 17 C.F.R. § 260.0-6 5 C.F.R. § 635.703. Standards of Ethical Conduct for
  Section 24(b) of the
  Exchange Act
  17 C.F.R. § 240.24c-1
  17 C.F.R. § 200.735-
  3(b)(1) and (2)
  17 C.F.R. § 230.122
  Section 32(a) of the
  Exchange Act
  Section 24(c) of the
  Exchange Act
  17 C.F.R. § 240.24c-1
  18 U.S.C. § 1905
  5 U.S.C. § 552a
  5 C.F.R. §
  2635.703(a)
  17 C.F.R. § 230.122
  17 C.F.R. § 200.735-
  3(b)(2) (ii) and (iii) 17 C.F.R. § 240.24c-1
  Section 24 (b), (d)
  and (f) of the
  Exchange Act
  18 U.S.C. § 1905
  Section 2635.106 of
  the Standards of
  Ethical Conduct for
  Employees
  17 C.F.R. § 200.735-
  13
  18 U.S.C. § 641
  Section 32(a) of the
  Exchange Act
  Equivalent

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 47 Employees of the Executive Branch. Freedom of Information Act (FOIA) 5 U.S.C. § 552; Privacy Act 5 U.S.C. §552a Right to Financial Privacy Act 12 U.S.C. §3401 18 U.S.C. § 1905 Section 5.1 of the SEC Enforcement Manual 5 U.S.C. § 552a Rules 26, 34 and 45 of the Federal Rules of Civil Procedure Rule 17 of the Federal Rules of Criminal Procedure SEC internal rules and policies

FINAL REPORT ON GUIDELINES ON THE EQUIVALENCE OF CONFIDENTIALITY REGIMES 48 Accompanying documents
4.1 Views of the Banking Stakeholder Group (BSG)
The BSG was consulted on the draft guidelines and requested a more comprehensive discussion on the work that the EBA conducts in respect of third-country equivalence. EBA staff presented the EBA’s work on equivalence at the BSG meeting on 6 July 2021. The minutes of the meeting can be found here:
https://www.eba.europa.eu/sites/default/documents/files/document_library/Calendar/EBA%20 Official%20Meetings/2021/BSG%206%20JUL%202021/1023343/EBA%20BSG%202021%20057%2 0%28Minutes%206%20July%20meeting%29.pdf