3.1.1. Permitted disclosures

The AFSA may disclose confidential information where such disclosure:

• (a) is permitted or required under these Regulations or under any other AIFC Regulations or Rules;
• (b) is made to any of the authorities listed in subsection 2.2 for the purpose of assisting the exercise by any such authority of its regulatory functions; or
• (c) is made in good faith for the purposes of the exercise of the functions and powers of the AFSA

3.1.2. Obligation to keep disclosed information confidential

If the AFSA is requested to disclose confidential information to an authority referred to in subsection 2.2, in circumstances other than those referred to in subsection 117(2) of the Framework Regulations, the AFSA shall:

1. (a) ensure that the information must be used for the sole purpose of assisting the requesting authority in performing its regulatory functions; and
2. (b) require the requesting authority:
3. (i) to keep the information confidential; and
4. (ii) not to disclose the information to any other Person without the written consent of the AFSA.

Guidance:

Obligation in subsection 117(2) of the Framework Regulations Under subsection 117(2) of the Framework Regulations, the AFSA must disclose an individual’s compelled testimony to a law enforcement agency for the purpose of criminal proceedings if:

1. (i) the person consents to the disclosure; or
2. (ii) the AFSA is required by law or court order to disclose the statement.