Section 5: Professional secrecy

Companies established in France which are part of a financial group or a group comprising at least one finance company or, for the application of 2° of this article, a group within the meaning of article L. 356-1 of the Insurance Code, a group within the meaning of III of article L. 511-20 comprising at least one entity mentioned in 1° bis or 1° ter of article L. 561-2, or a mixed group or a financial conglomerate to which regulated entities within the meaning of article L. 517-2 having their registered office in a Member State of the European Union or a State party to the Agreement on the European Economic Area or in a State where the agreements provided for in Articles L. 632-7, L. 632-13 and L. 632-16 of this Code are applicable are required, notwithstanding any provisions to the contrary, to send to undertakings in the same group having their registered office in one of these States:

1° The information relating to their financial situation necessary for the organisation of supervision on a consolidated basis and the supplementary supervision of these regulated entities or finance companies;

2° Information necessary for the organisation of the fight against money laundering and terrorist financing;

3° The information necessary for the organisation of the detection of market abuse referred to in Article 16 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC ;

4° Information required to manage conflicts of interest within the meaning of 3° of I and 3° of II of Article L. 533-10.

The latter information may not be communicated to persons outside the group, with the exception of the competent authorities of the States referred to in the first paragraph. This exception does not extend to the authorities of States or territories whose legislation is recognised as insufficient or whose practices are considered to hinder the fight against money laundering or terrorist financing by the international body for consultation and coordination in the fight against money laundering, the list of which is updated by order of the Minister for the Economy.

Persons receiving such information shall be bound by professional secrecy under the conditions and subject to the penalties set out in Article L. 511-33, in respect of any information or documents that they may receive or hold in this way.

The provisions of this article are without prejudice to the application of law no. 78-17 of 6 January 1978 on data processing, data files and individual liberties.