Confidentiality agreement: Difference between revisions

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 **Information the receiver develops independently of the disclosure and without reference to information disclosed
 *'''{{t|Trick for young players}}''': Don't make the {{tag|schoolboy error}} of including in this exclusion from the definition of confidential information “information required to be disclosed to regulators or government authorities”. This is a legitimate exception to the prohibition on disclosing information — see below — but it shouldn’t disqualify the information from being Confidential Information altogether. If it did, once you were required to give any information to the regulator, it would suddenly be open season and you could tell everyone about it.
-===='''What is the {{tag|confidentiality}} restriction?'''====
+{{confi obligation}}
-Now you know what counts as [[confidential information]], what can you do with it and what’s not allowed?  You’ll often see:
-*'''Keep the information confidential'''. Don’t disclose it except to a limited group of people — and you may be required to ensure that these people only receive the information subject to an equivalent duty of confidentiality:
-**'''Inside the organisation''': In a large organisation this may be to a small group of people in the organisation (for example, credit, legal or the onboarding team). There may be specific restrictions to prevent it getting to trading desks or front office personnel who may use the information to profit from it (this will usually be illegal: it’s likely to constitute insider trading or market abuse, but no harm is specifying in the contract).
-**'''Outside the organisation''': you may be allowed to share it with your professional advisers, and to regulators and quasi regulatory authorities (stock exchanges etc) where required by law (or you reasonably consider it expedient).  There may be some tiresome details about only giving in formation that is reasonably necessary, and taking what steps are necessary to take legal action to prevent disclosures to regulators.
-*Only use it to carry out the “purpose” or “project”.
-This is somewhat hard to enforce — it’s nebulous, right? — and in practice you’ll bever know what goes on bhind closed doors, but in the English law-speaking world this is pretty uncontroversial precisely because it isn't practically actionable. But the yanks can get very worked up over it. At least that's what I recall, but it may have been a fever dream.
 ====Obligation to notify provider of regulator requests====
 This is a common and oft accepted provision: where you are obliged to disclose to a regulator, you must first notify the provider of the information, to allow them to make