Keywords
Summary

Keywords

APPROXIMATION OF LAWS - CREDIT INSTITUTIONS - AUTHORITIES EMPOWERED TO GRANT AUTHORIZATIONS AND EXERCISE SUPERVISION - DUTY TO MAINTAIN PROFESSIONAL SECRECY - SCOPE - DEROGATIONS - PROVISIONS OF NATIONAL LAW ALLOWING THE DISCLOSURE OF CONFIDENTIAL INFORMATION - CONCEPT - APPLICATION

( COUNCIL DIRECTIVE 77/780/EEC , ART . 12 )

Summary

ARTICLE 12 ( 1 ) OF DIRECTIVE 77/780/EEC , WHICH STATES THAT THE OBLIGATION TO MAINTAIN PROFESSIONAL SECRECY IMPOSED ON PERSONS NOW OR IN THE PAST EMPLOYED BY THE AUTHORITIES EMPOWERED TO AUTHORIZE AND SUPERVISE CREDIT INSTITUTIONS MEANS THAT THE CONFIDENTIAL INFORMATION RECEIVED IN THE COURSE OF THEIR DUTIES MAY NOT BE DIVULGED TO ANY PERSON OR AUTHORITY EXCEPT BY VIRTUE OF PROVISIONS LAID DOWN BY LAW , ALSO APPLIES TO STATEMENTS WHICH SUCH PERSONS MAKE AS WITNESSES IN CIVIL PROCEEDINGS .

AMONGST THE PROVISIONS LAID DOWN BY LAW ALLOWING CONFIDENTIAL INFORMATION TO BE DIVULGED , AS ENVISAGED BY ARTICLE 12 ( 1 ), CITED ABOVE , MUST BE INCLUDED GENERAL PROVISIONS NOT SPECIFICALLY INTENDED TO LAY DOWN EXCEPTIONS TO THE BAN ON DISCLOSING THE KIND OF INFORMATION COVERED BY THE DIRECTIVE BUT ESTABLISHING THE LIMITS WHICH THE MAINTENANCE OF CONFIDENTIALITY PLACES ON THE OBLIGATION TO GIVE EVIDENCE AS A WITNESS .

WHEN SUCH GENERAL PROVISIONS ARE APPLIED , IT IS FOR THE NATIONAL COURTS TO FIND THE BALANCE BETWEEN THE INTEREST IN ESTABLISHING THE TRUTH AND THE INTEREST IN MAINTAINING OF CONFIDENTIALITY CERTAIN KINDS OF INFORMATION , ESPECIALLY WHERE SUCH INFORMATION HAS BEEN SUPPLIED BY THE COMPETENT AUTHORITIES OF OTHER MEMBER STATES IN ACCORDANCE WITH ARTICLE 12 ( 2 ) OF THE DIRECTIVE .