Any confidential information received, exchanged or transmitted pursuant to this Regulation shall be subject to the conditions of professional secrecy laid down in paragraphs 2 and 3.

All the information F1exchanged between the FCA and competent authorities under this Regulation that concerns business or operational conditions and other economic or personal affairs shall be considered to be confidential and shall be subject to the requirements of professional secrecy, except where the F2authority from whom the information is received states at the time of communication that such information may be disclosed or such disclosure is necessary for legal proceedings.

The obligation of professional secrecy applies to all persons who work or who have worked for the F3FCA or for any authority or market undertaking to whom the F3FCA has delegated its powers, including auditors and experts contracted by the F3FCA. Information covered by professional secrecy may not be disclosed to any other person or authority except by virtue of provisions laid down by F4the law of the United Kingdom, or any part of the United Kingdom.