On 20 June 2018, the European Banking Authority (EBA) updated its recommendation on the equivalence of confidentiality and professional secrecy regimes by adding three non-EU supervisory authorities to the list of third country supervisory authorities whose confidentiality regimes can be regarded as equivalent. The EBA’s equivalence assessment is based on the relevant provisions of the CRD IV.

The additional three non-EU supervisory authorities are:

  • The Guernsey Financial Services Commission;
  • The Superintendence of the Financial Services of the Central Bank of Uruguay; and
  • The Bank of Korea.