Duty of Confidentiality

The staff of BaFin and of the Deutsche Bundesbank, the liquidators appointed under this Act, the special commissioners appointed under section 20(2) in conjunction with section 45c of the Banking Act, the trustees appointed by the court under section 14(1), second sentence in conjunction with section 2c(2), second sentence of the Banking Act, and the persons engaged under section 4(3) of the Financial Services Supervision Act, may not without authorisation disclose or exploit facts that come to their knowledge in the course of their duties, the confidentiality of which is in the interest of the institution, payment service provider or e-money issuer, of the competent authorities or of a third party, in particular business and trade secrets, even after they have left the service or their engagement has ended. This duty of confidentiality also applies where facts are entrusted to them in connection with the initiation of an engagement or appointment. Section 9 of the Banking Act applies correspondingly.