French Monetary and Financial Code
In forceI. - For the application of this section and notwithstanding the provisions of Act 68-678 of 26 July 1968 relating to the communication of economic, commercial, industrial, financial or technical documents and information to foreign natural or legal persons, the supervisory board, the resolution board and the Minister responsible for the economy may exchange information covered by professional secrecy, in particular on preventive recovery plans, with the authorities of a non-member state of the European Union which exercise powers equivalent to those provided for in 4° of II of Article L. 612-1.
Prior to being communicated, the information must benefit from guarantees of professional secrecy at least equivalent to those to which the French authorities are subject.
The information must be necessary for the performance, by the recipient authorities of the non-EU Member State, of tasks equivalent to those provided for in 4° of II of article L. 612-1 and must be used exclusively for this purpose.
II. - When confidential information originates from a person or authority of another Member State of the European Union, the college of supervisors, the college of resolution and the Minister responsible for the economy may not disclose it to the authorities of a non-Member State of the European Union mentioned in I without the express agreement of the person or authority that has disclosed it and, where applicable, solely for the purposes for which it has given its agreement.
