S.L. 371.21 Art. 5Competent authority. Cap. 9.

(1) The competent authority for the purposes of these regulations shall be the Malta Financial Services Authority.

(2) Without prejudice to the provisions of the Criminal

Code, officers of the competent authority, including past and present officers, as well as auditors or experts acting on behalf of the competent authority, shall be governed by the obligation of professional secrecy and shall not disclose any information received in the course of carrying out their supervisory and other duties to any person or authority, unless such disclosure of information is done in summary or collective form:

Provided that the said officers, auditors or experts may divulge such information for the purpose of the performance of their duties or the exercise of their functions, or when lawfully required to do so by any court or under a provision of any law:

Provided further that this sub-regulation shall not prevent the competent authority from exchanging or transmitting confidential information in accordance with national and European Union law.