Confidentiality

Obligations

Describe the private banking confidentiality obligations.

Confidentiality is generally protected under legal and contractual duties of confidentiality, code of banking practice and standard of conduct, and personal data privacy. However, legal and regulatory requirements may mandate disclosure or reporting of information to certain regulatory authorities or agencies, such as under anti-money laundering requirements, reporting of suspicious transactions and under CRS.

Scope

What information and documents are within the scope of confidentiality?

See question 41.

Expectations and limitations

What are the exceptions and limitations to the duty of confidentiality?

See question 41.

Breach

What is the liability for breach of confidentiality?

No statutorily prescribed liability exists.