199. Exceptions from section 198
(1) Subject to subsection (2), the Regulator may disclose Confidential Information for the purpose of facilitating the carrying out of a Public Function where such disclosure is —
(a) permitted or required under any enactment applicable to the Regulator, including, for the avoidance of doubt, any applicable international obligations;
(b) made to —
(i) the ADGM Registrar of Companies;
(ii) a Non-Abu Dhabi Global Market Regulator;
(iii) a governmental or regulatory authority exercising powers and performing functions relating to anti-money laundering, counter-terrorist financing or sanctions compliance, whether in the Abu Dhabi Global Market or otherwise;
(iv) a self-regulatory body or organisation exercising and performing powers and functions in relation to financial services, whether in the Abu Dhabi Global Market or otherwise;
(v) a criminal law enforcement agency, whether in the U.A.E or otherwise, for the purpose of any criminal investigation or criminal proceedings; or
(vi) a civil law enforcement agency or body, whether in the Abu Dhabi Global Market, U.A.E or otherwise;
for the purpose of assisting the performance by any such person of its functions and powers; or
(c) made in good faith for the purposes of the exercise of the functions and powers of the Regulator or in order to further the Regulator's objectives.
(2) Paragraphs (1)(b)(i), (ii), (iii), (iv), (vi) and 1(c) do not permit the Regulator to disclose Confidential Information unless the conditions in paragraphs (a) and (b) are met —
(a) where the Confidential Information (in whole or in part) originates in another governmental or regulatory authority, whether in the Abu Dhabi Global Market or otherwise, the authority that has disclosed the Confidential Information to the Regulator has given its prior written consent to the disclosure; and
(b) where the Confidential Information is CRD Information —
(i) EEA Competent Authority that has disclosed the Confidential Information to the Regulator has given its prior written consent to the disclosure; and
(ii) if such consent was given for a particular purpose, the disclosure by the Regulator is solely for that purpose.
(3) Any disclosure by the Regulator pursuant to subsection (1) may include, insofar as the Regulator considers appropriate, provisions —
(a) making any permission to disclose Confidential Information subject to conditions (which may relate to the obtaining of consents, subjecting information received to restrictions on disclosure of Confidential Information at least equivalent to those set out in section 198 or any other matter); and
(b) restricting the uses to which Confidential Information disclosed may be put.
(4) Where any disclosure by the Regulator pursuant to subsection (1) is made subject to conditions, the person to whom the Confidential Information has been disclosed may not use the Confidential Information in breach of any such condition.
|Amended on July 4, 2018|