Confidentiality—a guide for in-house banking and finance lawyers
Confidentiality—a guide for in-house banking and finance lawyers

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Confidentiality—a guide for in-house banking and finance lawyers
  • What is confidentiality?
  • Bankers' duty of confidentiality
  • When do issues of confidentiality arise in banking and finance transactions?
  • What practical steps can be taken in relation to issues which arise?

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), but the UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit to the continuing jurisdiction of the Court of Justice of the European Union in accordance with the transitional arrangements in Part 4 of the Withdrawal Agreement. For further reading, see: Brexit—introduction to the Withdrawal Agreement. This has an impact on this Practice Note in relation to the following matters:

  1. Data protection: For information on the impact of Brexit on data protection measures, see News Analysis: No-deal Brexit—what this means for data protection and Practice Note: Brexit—impact on finance transactions — General issues—data transfer.

  2. The Market Abuse Regulation (Regulation (EU) 596/2014) (MAR): The UK market abuse regime derives from MAR. The Market Abuse (Amendment) (EU Exit) Regulations 2019, SI 2019/310 amend retained EU law relating to market abuse, including the Market Abuse Regulation (and tertiary legislation and UK legislation made under it), to ensure that the relevant