The European Banking Authority has updated its Guidelines on the equivalence of confidentiality and professional secrecy regimes in third countries, extending the 2022 framework to reflect new requirements under the Markets in Crypto-Assets Regulation (MiCAR) and the EBA’s latest equivalence assessments. The update is intended to enable effective cross-border supervisory cooperation while protecting confidential information. The revised Guidelines confirm that the confidentiality and professional secrecy regimes of several third-country authorities, including those in Australia, China, Montenegro, Peru, Serbia and the United Kingdom, are considered equivalent to EU standards. The framework also streamlines definitions, updates legal references, and clarifies how EU competent authorities should apply the Guidelines when sharing information or engaging in supervisory cooperation, including in the context of MiCAR’s Article 100 confidentiality requirements. EU competent authorities must report their compliance with the Guidelines within two months of the publication of translations into the official EU languages.
European Banking Authority 2025-12-22
European Banking Authority updates third-country confidentiality equivalence guidelines to support cross-border supervision under MiCAR
The European Banking Authority has updated its Guidelines on the equivalence of confidentiality and professional secrecy regimes in third countries, incorporating new requirements under the Markets in Crypto-Assets Regulation (MiCAR). The revised Guidelines confirm the equivalence of regimes in several countries, including Australia and the UK, to EU standards, and clarify application procedures for EU authorities in supervisory cooperation.