Financial Markets Act (Cap. 345), article 21C

21C. The obligation of professional secrecy shall not prevent the competent authority from exchanging confidential informatio n or from transmitting confidential information to other European regulatory authorities, ESMA or ESRB , subject to constraints relating to firm-specific information and effects on third coun tries as provided for in Regulation (EU) No 1095/2010 and Regulation (EU) No 1092/2010 of the European Parliam ent and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board respectively. Information exchanged between the competent authorit y and other European regulatory authoriti es, FINANCIAL MARKETS [CAP. 345. 37 ESMA or the ESRB shall be covered by the obligation of professional secrecy, to which th e persons employed or formerly employed by the competent autho rity receiving the information a re subject. Notification to ESMA. Added by: XX. 2013.32. Amended by: XLVI.2021.36.