On July 16, 2016, a Decision by the ECB on the disclosure of confidential information in the context of a criminal investigation was published in the Official Journal of the European Union. Pursuant to the SSM, the ECB and/or national regulators can receive requests from national criminal investigation authorities for the disclosure of confidential information created or received in the course of their supervisory tasks and responsibilities. EU law has implications for the conditions under which confidential information held by regulators within the SSM, including the ECB, may be disclosed to national criminal investigation authorities. “Confidential information” includes information covered by data protection rules, by the obligation of professional secrecy, including those in the CRD. The Decision sets out the processes and conditions under which confidential information will be provided to criminal investigation authorities. The decision entered into force on August 5, 2016.