The "Regulation on Sharing Confidential Information" issued by the BRSA was published in the Official Gazette dated 04.06.2021 and numbered 31501. The effective date of the Regulation was determined as 01.01.2022. The purpose of this Regulation is to determine the procedures and principles regarding the sharing and transfer of bank secrets and customer secrets.
The Regulation, which consists of nine articles, states that those who learn the secrets of banks or their customers due to their titles and duties should keep these secrets even after leaving office, and that they cannot disclose them to anyone other than the authorities expressly authorized by law.
Exceptions to the confidentiality obligation are clearly indicated in the Regulation. Accordingly, situations that are not considered within the scope of confidentiality obligation, provided that a confidentiality agreement is made and limited only to the stated purposes; a) exchange of information and documents between banks, b) providing information and documents to financial institutions that have ten percent or more of the capital of banks within the scope of financial statement preparation, risk management and internal audit practices, c) providing information and documents to prospective buyers in the valuation studies to be carried out for the purpose of selling shares representing ten percent or more of the bank's capital through direct or indirect ownership, and d) providing information and documents to those who provide this service to be used in valuation, rating, support services and independent audit activities or in transactions for service procurement provided that technical and administrative measures are taken.
With the regulation, banks are obliged to establish an Information Sharing Committee, which is responsible for recording these evaluations by taking into account the principle of proportionality when sharing information and evaluating the appropriateness of incoming sharing requests.
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