CASE COMMENTS: REGULATIONS – FINANCIAL MARKETS – FINANCIAL SUPERVISION – NATIONAL AUTHORITIES – PROFESSIONAL SECRECY

Professional secrecy: The Court of Justice of the European Union clarifies the scope of the obligation of professional secrecy on national financial supervisory authorities (Baumeister)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. In a judgment of 19 June 2018, the Court of Justice clarified the scope of the obligation of professional secrecy incumbent on national financial supervisors by clarifying in particular the concept of "confidential information". To that end, it interpreted Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments (OJ 2004 L 145, p. 1). Delivered by the Grand Chamber, with the intervention of five Member States (Germany, Estonia, the Netherlands, Poland and the United Kingdom) and the European Commission, the judgment is certainly of principle and its solution has already been applied by two

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  • University Paris II Panthéon‑Assas

Quotation

Francesco Martucci, Professional secrecy: The Court of Justice of the European Union clarifies the scope of the obligation of professional secrecy on national financial supervisory authorities (Baumeister), 19 June 2018, Concurrences N° 4-2018, Art. N° 88319, pp. 186-187

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