CHAPTER VIROLE OF COMPETENT AUTHORITIES
F1Article 32Competent authorities
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F2Article 33Powers of competent authorities
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Article 34Professional secrecy
1.
The obligation of professional secrecy shall apply to all natural or legal persons who work or who have worked for the F3FCA or for any authority or natural or legal person to whom the F3FCA has delegated tasks, including auditors and experts contracted by the F3FCA. Confidential information covered by professional secrecy may not be disclosed to any other natural or legal person or authority except where such disclosure is necessary for legal proceedings.
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F5Article 35Obligation to cooperate
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F6Article 36Cooperation with ESMA
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F7Article 37Cooperation in case of request for on-site inspections or investigations
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Article 38Cooperation with third countries
1.
The F8FCA F9may conclude cooperation arrangements with supervisory authorities of third countries concerning the exchange of information with supervisory authorities of third countries, the enforcement of obligations arising under this Regulation in third countries and the taking of similar measures in third countries by their supervisory authorities to complement measures taken under Chapter V. These cooperation arrangements shall ensure at least an efficient exchange of information that allows the F10FCA to carry out its duties under this Regulation.
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2.
The cooperation arrangement shall contain provisions on the exchange of data and information necessary for the F12FCA to comply with the obligation set out in Article 16(2).
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4.
The F14FCA may conclude cooperation arrangements on the exchange of information with the supervisory authorities of third countries only where the information disclosed is subject to guarantees of professional secrecy which are at least equivalent to those set out in Article 34. Such exchange of information shall be intended for the performance of the tasks of F15the FCA.
F16Article 39Transfer and retention of personal data
Nothing in this Regulation is to be taken as authorising a disclosure of personal data in contravention of Regulation (EU) No 2016/679 of the European Parliament and of the Council on the protection of natural persons with regard to the processing of personal data and on the free movement of such data or of the Data Protection Act 2018.
Article 40Disclosure of information to third countries
F17The FCA may transfer data and the analysis of data to a supervisory authority of another country where the transfer does not contravene Regulation (EU) No 2016/679 of the European Parliament and of the Council on the protection of natural persons with regard to the processing of personal data and on the free movement of such data or the Data Protection Act 2018, but such transfer may only be made on a case-by-case basis. The F18FCA must be satisfied that the transfer is necessary for the purposes of this Regulation. Any such transfer shall be made under agreement that the third country shall not transfer the data to the supervisory authority of another third country without the express written authorisation of the F19FCA.
F20The FCA shall disclose information which is confidential pursuant to Article 34 and which is received from a competent authority of a third country to a competent authority of another country only where the FCA has obtained the express agreement of the competent authority which transmitted the information and, where applicable, the information is disclosed solely for the purposes for which that competent authority gave its agreement.
F21Article 41Penalties
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