The Regulation on Sharing of Confidential Information was Published
The Regulation on Sharing of Confidential Information (“Regulation”) based on Article 73 and Article 93 of the Banking Law dated 19/10/2005 and numbered 5411 (“BanL”) was published in the Official Gazette dated 04.06.2021 and numbered 31501.
The object of the Regulation hereby is to determine the scope, form, procedure and principles of sharing and transferring of bank and customer secrets as confidential information.
The said Regulation elaborates more on the scope of the confidentiality obligation regulated under Article 73 of the BanL, the exemptions of the confidentiality obligation and establishes general principles of sharing of information considered as secret. In addition, the definitions of customer secret and customer demand and instructions that are expected to be obtained from customer are also established.
The Regulation will enter into force on 01.01.2022. You may find the full text of the Regulation here.
All rights of this article are reserved. This article may not be used, reproduced, copied, published, distributed, or otherwise disseminated without quotation or Erdem & Erdem Law Firm's written consent. Any content created without citing the resource or Erdem & Erdem Law Firm’s written consent is regularly tracked, and legal action will be taken in case of violation.