Skip to main content

Clifford Chance

Clifford Chance

Cross-Border Publisher:
Banking Confidentiality

Complying with banking duties of customer confidentiality, as well as staying on top of personal data protection regimes, is a challenge faced by every bank. This becomes particularly complex for those operating on a cross-border basis. Whether you are a local bank, a local branch of an EU bank or a bank providing cross-border services, as a data controller or processor a reliable source of legal information can help navigate these complexities. 

Cross-Border Publisher: Banking Confidentiality provides in-house legal, compliance and data protection teams with instant access to banking duties of confidentiality information on a multi-jurisdictional basis. It is part of the Cross-Border Publisher product suite which offers related topics, including Data Protection

Cross-Border Publisher: Banking Confidentiality provides legal guidance on a range of issues, whether arising from banking regulations or other legislation, civil law duties of care or implied contractual duties, on a multi-jurisdictional basis. Simple, practical guidance is presented in a question and answer format, helping to ensure you make the right decisions for your business and avoid the consequences of compliance breaches.

Simply log in, select the questions and jurisdictions you are interested in, and instantly access practical Clifford Chance legal guidance created by our team of experts.

Key benefits

Build operational resilience by reducing risk and enforcing standards

Reduce reliance on external counsel – saving time and money

Instance access to Clifford Chance's expert legal guidance

Demonstrate compliance with customer confidentiality duties

Empower multiple users within your business

Save time searching for answers and the legal background you need

Stay up to date with the latest changes in the protection of customer information

Consistent source of knowledge which is easy to share

Low cost option for compliance

Key product features

  •      Extensive questions and answers, modelled on Clifford Chance multi-jurisdictional survey best practice
  •      Answers for multiple jurisdictions can be viewed at once for quick comparison
  •      Downloadable results
  •      Results can be filtered by question and/or jurisdiction
  •      Easy to navigate results with both a summary and detailed answer to each question
  •      Product accessible 24 hours a day
  •      Instant access to customer support via in-built chat

 

Find answers to these questions

1.       What are the laws, regulations or guidelines on banking confidentiality with respect to client data (in addition to the usual (contractual or implied) confidentiality requirements)?

2.       What are the banking confidentiality limitations?

3.       Do banking confidentiality limitations also apply to the sharing of client information on a need to know basis? 

4.       Do banking confidentiality laws still apply if the sharing of client data within a bank is required by law?

5.       Do banking confidentiality laws allow for the sharing of client data within a bank or with a third party?

6.       Can banking confidentiality limitations be overcome by obtaining customer consent or a waiver?

7.       If banking secrecy limitations can be overcome by obtaining client consent or a waiver, how can this be done?

8.       What are the technical and/or organisational requirements that a bank should undertake to allow the sharing of client data (e.g. in global/centralised systems, or with internal or            external subcontractors)?

 

 

"Banking confidentiality regulations can be complex and intrusive for financial institutions. Regulators and bank customers have become less tolerant of violations of these rules, causing reputational risk and financial loss. Compliance with rules such as banking secrecy is therefore business critical. This applies in particular for internationally operating banks, having to comply with a patchwork of different regulations in multiple jurisdictions. This tool will instantly save banks the costly and time-consuming exercise of remaining compliant." 

Jurgen van der Meer, Partner in the Financial Markets Group,
Clifford Chance