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6. Requests for Confidential Information

6.1 In deciding whether to comply with a request to disclose confidential information under Articles 38 and 39, the DFSA as a matter of policy will satisfy itself that there are legitimate reasons for the request and that the regulator or authority requesting the information has the appropriate standards in place for dealing with client confidentiality.

6.2 Every request to disclose confidential information will be assessed by the DFSA on a case-by-case basis to determine whether there is a legitimate reason to comply with the request. In determining the legitimacy of a request, the DFSA may consider, in addition to Articles 38 and 39 of the Regulatory Law:

(a) whether the request will enable the requesting authority to discharge more effectively its regulatory responsibilities to enforce and secure compliance with the financial services laws administered by the requesting authority;
(b) whether the request is for the purpose of actual or possible criminal, civil or administrative enforcement proceedings relating to a violation of financial services laws administered by the requesting authority;
(c) whether the requesting authority is governed by laws that are substantially equivalent to those governing the DFSA concerning regulatory confidentiality, data protection, legal privilege and procedural fairness;
(d) whether the request involves the administration of justice of a law, regulation or requirement that is related to enforcing and securing compliance with the financial services laws of the requesting jurisdiction;
(e) whether any other authority, governmental or non-governmental, is cooperating with the requesting authority or seeking information from the confidential files of the requesting authority; and
(f) whether fulfilling the request will foster the integrity of, and confidence in, the financial services industry in the DIFC and the requesting jurisdiction.