RPP 8-4 RPP 8-4 Information Under Memoranda of Understanding
DFSAmay obtain confidential information pursuant to a Memorandum of Understanding (MOU)2 with another authority. A list of DFSAMOUs is published on the DFSAwebsite.
2 A MOU may be a bi-lateral or a multi-lateral MOU.
This section describes how the
DFSAprotects, uses and discloses confidential information that it receives pursuant to a MOU.
Procedures for assessing disclosure
Article 38 of the
Regulatory Lawensures the confidentiality of information provided to the DFSA. This includes any confidential information received by the DFSAfrom an authority under a MOU or similar arrangement. All information received under a MOU will be expressly marked to indicate that it is confidential regulatory information provided under a MOU from an identified authority.
Article 38 also enables the
DFSAto release confidential information to an authority for the purposes of assisting the performance of its regulatory functions. The release of any confidential information by the DFSAto a third party and the method of releasing this information will be assessed and approved by a senior officer of the DFSAwith delegated authority to make such a release. The delegated senior officer will consider the relevant provisions of this chapter (particularly section 8-3) in deciding whether to release confidential information to third parties.
DFSAstaff member identifying the possible release of any confidential information will ensure that the delegated senior officer assessing and approving the release is aware of the origin(s) of the information and the legal basis upon which the release is required to be made.
DFSAstaff member and the delegated senior officer assessing and approving the release will ensure that:(a) the receiving party is made fully aware of the protected status of the confidential information;(b) the providing authority has been approached to seek written approval for the information's release to the third party;(c) where a providing authority does not approve the release of the confidential information, the DFSAtakes all reasonable efforts, including any legal steps, to protect the information from disclosure;(d) if the DFSA'sefforts to protect the confidential information from disclosure are unsuccessful, e.g. to a Court, the DFSAinforms the providing authority, and requests the receiving party to ensure that the confidential information is not made public.
DFSAwill ensure that information released under Article 38 retains its confidential status by imposing conditions on that authority that the information should only be used for a regulatory purpose and will not be released to any third party without the prior consent of the DFSA.
Where information is subject to a legally enforceable demand
In cases where the confidential information obtained from an authority under a MOU is subject to a legally enforceable demand (such as a subpoena, notice or court order), the
DFSAwill notify the providing authority when the demand is received by the DFSA.
In the event of a legally enforceable demand, the
DFSAwill assert any legal rights, exemptions or privileges to protect such confidential information that are legally available to it. These may include, for example, objections to disclosure based on a claim of public interest immunity (see section 8-5 below).