RPP 8-3-25

Generally, for the DFSA to agree to provide confidential information in response to an Article 39 request, the authority will be required to:

(a) make the request in writing, or if urgent make the request orally and, unless otherwise agreed, confirm it in writing within ten business days;
(b) describe the confidential information requested and the purpose for which the authority seeks the information;
(c) provide a brief description of the facts supporting the request and the relevant legal powers authorising the request;
(d) specify whether the purpose of the request is for actual or possible criminal, civil or administrative enforcement proceedings relating to a violation of the laws and regulations administered by the authority;
(e) agree that it will not use the confidential information for any other purpose than that for which it was requested unless it has the express permission of the DFSA;
(f) indicate, if known, the identity of any persons whose rights or interests may be adversely affected by the disclosure of confidential information;
(g) indicate whether obtaining the consent of, or giving notice to, the person to whom the request for confidential information relates would jeopardise or prejudice the purpose for which the information is sought;
(h) specify whether any other authority, governmental or non-governmental, is co-operating with the requesting authority or seeking information from the confidential files of the requesting authority;
(i) specify whether onward disclosure of confidential information is likely to be necessary and the purpose such disclosure would serve;
(j) agree to revert to the DFSA in the event that it seeks to use the confidential information for any purposes other than those specified in the request;
(k) agree to keep requested confidential information confidential, including the fact that a request for confidential information was made, except as it conforms to this policy or in response to a legally enforceable demand;
(l) agree, in the event of a legally enforceable demand, that it, the requesting authority, will notify the DFSA prior to complying with the demand, and will assert such appropriate legal exemptions or privileges with respect to such confidential information as may be available;
(m) agree that, prior to providing information to a self-regulatory organisation, the requesting authority will ensure that the self-regulatory organisation is able and will comply on an ongoing basis with the confidentiality provisions agreed to between the requesting authority and DFSA; and
(n) agree to use its best efforts to protect the confidentiality of confidential information received from the DFSA pursuant to the provisions in Articles 38 and 39 of the Regulatory Law, the Data Protection Law and this policy.

For example, in an international securities fraud or money laundering investigation the kind of documents the DFSA may provide to an Article 39 authority may include: documents from contemporaneous records sufficient to reconstruct all securities, derivatives and bank transactions; records of all funds and assets transferred into and out of bank and brokerage accounts relating to these transactions; records that identify the beneficial owner and controller and, for each transaction, the account holder, the particulars of the transaction, and the individual and the authorised financial or market institution that handled the transaction.

Derived from Notice of Updates (Made 11th February 2015). February 2015 Edition
Amended by Notice of Updates (Made 7th May 2015). May 2015 Edition