Proposal for a directive
Article 1 – paragraph 1 – point 21 a (new)
(21a) Subsection IIIa Cooperation between competent authorities supervising credit and financial institutions and professional secrecy Article 57a 1. Member States shall provide that all persons working for or who have worked for competent authorities supervising credit and financial institutions for compliance with this Directive, as well as auditors or experts acting on behalf of competent authorities, shall be bound by the obligation of professional secrecy. No confidential information which they may receive in the course of their duties under this Directive may be divulged to any person or authority whatsoever, except in summary or collective form, such that individual obliged entities cannot be identified, without prejudice to cases covered by criminal law. 2. Paragraph 1 shall not prevent these competent authorities from transmitting or exchanging information with each other in accordance with this Directive or other Directives or Regulations relating to the supervision of credit and financial institutions. That information shall be subject to the conditions of professional secrecy indicated in paragraph 1. 3. Competent authorities receiving confidential information according to paragraph 1, shall only use this information: – in the discharge of their duties under this Directive, including sanctioning ; – in the discharge of their duties under other Directives or Regulation, including sanctioning; – in an appeal against a decision of the competent authority, including court proceedings; – in court proceedings initiated pursuant to special provisions provided for in Union law adopted in the field of credit and financial institutions. 4. Member States shall ensure that competent authorities supervising credit and financial institutions cooperate with each other to the greatest extent possible, regardless of their respective nature or status. Such cooperation also includes the ability to conduct, within the powers of the requested competent authority, inquiries on behalf of a requesting competent authority, and the subsequent exchange of the information obtained through such inquiries. 5. Member States may conclude cooperation agreements providing for collaboration and exchanges of confidential information with the competent authorities that constitute counterparts of the competent authorities mentioned in paragraph 1. Such cooperation agreements shall be concluded on the basis of reciprocity and only if the information disclosed is subject to guarantees of professional secrecy at least equivalent to those referred to in paragraph 1. Confidential information exchanged according to these cooperation agreements shall be used for the purpose of performing the supervisory task of the authorities mentioned. Where the information originates in another Member State, it may not be disclosed without the express agreement of the competent authorities which have disclosed it and, where appropriate, solely for the purposes for which those authorities gave their agreement. Article 57b 1. Notwithstanding Article 57a (1) and (3), Member States may authorise exchange of information, in the same Member State or in a different Member State, between the competent authorities and the following, in the discharge of their supervisory functions : – authorities entrusted with the public duty of supervising other financial sector entities and the authorities responsible for the supervision of financial markets; – bodies involved in the liquidation and bankruptcy of institutions and in other similar procedures; – persons responsible for carrying out statutory audits of the accounts of credit and financial institutions. The information received shall in any event be subject to professional secrecy requirements at least equivalent to those referred to in Article 57a (1). 2. Notwithstanding Article 57a (1) and (3), Member States may, by virtue of provisions laid down in national law, authorise the disclosure of certain information to other departments of their central government administrations responsible for law on the supervision of credit and financial institutions, and to inspectors acting on behalf of those departments. However, such disclosures may be made only where necessary for the supervision of those institutions for compliance with this directive. Persons having access to the information shall be subject to professional secrecy requirements at least equivalent to those referred to in Article 57a (1). 3. Member States may authorise the disclosure of certain information relating to the supervision of credit institutions for compliance with this Directive to Parliamentary enquiry committees in their Member State, courts of auditors in their Member State and other entities in charge of enquiries in their Member State, under the following conditions: (a) that the entities have a precise mandate under national law to investigate or scrutinise the actions of authorities responsible for the supervision of these institutions or for laws on such supervision; (b) that the information is strictly necessary for fulfilling the mandate referred to in point (a); (c) the persons with access to the information are subject to professional secrecy requirements under national law at least equivalent to those referred to in Article 57a (1); (d) where the information originates in another Member State, that it is not disclosed without the express agreement of the competent authorities which have disclosed it and, solely for the purposes for which those authorities gave their agreement. 4. This Subsection shall not prevent the competent authorities supervising credit and financial institutions for compliance with this Directive from transmitting confidential information, for the purposes of their tasks, to other authorities responsible for supervising credit and financial institutions according to other Directives or Regulations, including the European Central Bank acting according to Regulation 1024/2013.