From The Jolly Contrarian
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- Information stays “confidential” even if you have to disclose it to regulators: Don’t make the schoolboy error of excluding from the definition of “confidential information” “information required to be disclosed to regulators or government authorities”. Now to be sure this is a legitimate exception to a fellow’s general covenant not disclose confidential information to anyone[1] — but it shouldn’t disqualify the information from being “confidential information” altogether. If it did, once you were required to give any information to a regulator, it would suddenly be open season and you could tell everyone about it. Not the intention.