Section 64E: Cooperation and exchange of information with domestic and foreign

64E. Cooperation and exchange of information with domestic and foreign counterparts (1) Notwithstanding this Act, the central bank may cooperate and exchange supervisory information, with domestic and foreign counterparts, related to, or relevant for, AML/CFT purposes. (2) The central bank may exchange with foreign competent authorities, information domestically available to it, including information held by financial institutions, in a manner proportionate to their respective needs. (3) The central bank may exchange the following types of information when relevant for AML/CFT purposes, in particular with other domestic or foreign supervisors that have a shared responsibility for financial institutions operating in the same group – (a) regulatory information, such as information on the domestic regulatory system, and general information on the financial sectors; (b) prudential information, such as information on the financial institution’s business activities, beneficial ownership, management, and fit and properness; and (c) AML/CFT information, such as internal AML/CFT procedures and policies of financial institutions, customer due diligence information, customer files, samples of accounts and transaction information. (4) The central bank may, upon request, conduct inquiries on behalf of foreign counterparts and, where appropriate, authorise or facilitate the ability of foreign counterparts to conduct inquiries in financial institution, for the purpose of facilitating effective group supervision. (5) The central bank shall ensure that its prior written authorisation is sought by the foreign counterpart for any dissemination of the information exchanged, or use of that information for supervisory and non-supervisory purposes, unless the foreign counterpart is under a legal obligation to disclose or report the information exchanged, in which case, at a minimum, the foreign counterpart shall be required to promptly inform the central bank of this obligation. (6) (a) The central bank may exchange information indirectly with noncounterparts, applying the relevant principles set out in this section, provided that the competent authority that requests information indirectly shall, at all times, make it clear for which purpose and on whose behalf the request is made. (b) For the purpose of paragraph (a) – “exchange of information indirectly” means the requested information passing from the requested authority through one or more domestic or foreign authorities before being received by the requested authority and where such an exchange of information and its use may be subject to the authorisation of one or more competent authorities of the requested country.