Duty of confidentiality

(1) Persons employed at BaFin and at institutions under section 7(2), and persons of whom BaFin avails itself under section 7(2), may not, without authorisation, disclose or exploit facts that have come to their knowledge in the course of their activity and whose confidentiality is in the interest of a person obliged under this Act, of the competent authorities, or of a third party, in particular business and trade secrets, or personal data, even after the end of their service relationship or activity. This also applies to other persons who obtain knowledge of the facts named in the first sentence through official reporting. Unauthorised disclosure or exploitation within the meaning of the first sentence does not in particular exist where facts are passed on to 1. prosecuting authorities or courts competent for criminal or regulatory-offence matters, 2. bodies entrusted, by statute or by public mandate, with combating restraints on competition, with supervising offers to acquire securities, or with supervising stock exchanges or other securities or derivatives markets, securities or derivatives trading, credit institutions, financial services institutions, securities institutions, investment companies, financial undertakings or insurance undertakings, and persons engaged by such bodies, 3. the Federal Ministry for Economic Affairs and Energy, insofar as the facts are necessary for the performance of the tasks of those bodies or persons. The duty of confidentiality under the first to third sentences applies accordingly to persons employed by, or engaged by, the bodies named in the third sentence. Facts may be passed on to a foreign body only where that body and the persons engaged by it are subject to a duty of confidentiality corresponding to the first to third sentences.
(2) Sections 93, 97 and 105(1), section 111(5) in conjunction with section 105(1), and section 116(1) of the Fiscal Code apply to the persons named in subsection (1), first and second sentences only insofar as the tax authorities need the knowledge for conducting proceedings concerning a tax offence or a taxation procedure, unless other provisions preclude the passing on of the information. The provisions named in the first sentence do not apply, however, insofar as facts are concerned 1. that were communicated to the persons named in subsection (1), first or second sentence by a body of another state within the meaning of subsection (1), third sentence, no. 2, or by persons engaged by that body, or 2. of which persons employed at BaFin obtain knowledge through participating in the supervision of institutions directly supervised by the European Central Bank, in particular in joint supervisory teams under Article 2, point 6 of Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17) (OJ L 141, 14.5.2014, p. 1), and that are secret under the rules of the European Central Bank.
(3) (repealed)