CHAPTER IXCOMPETENT AUTHORITIES

SECTION 2 Cooperation between different competent authorities

Article 51Transfer and retention of personal data

1.

With regard to transfer of personal data between competent authorities, competent authorities shall apply Directive 95/46/EC. With regard to transfer of personal data by ESMA to the competent authorities of a Member State or of a third country, ESMA shall comply with Regulation (EC) No 45/2001.

2.

Data shall be retained for a maximum period of 5 years.