Who can I share it with? - OneNDA Provision: Difference between revisions

Who can I share it with? - OneNDA Provision (view source)

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 {{confianat|2}}The “permitted disclosures” provision.
+==OneNDA commentary==
+“'''Legally required'''”: Some disquiet from institutional [[legal eagle]]s that “legally required” is a little narrow:
+{{quote|{{OneNDA 2(c)}}}}
+There are many occasions where regulators ask — firmly — but don’t ''require'' disclosure of information as such: for example, for a review in the context of a competition review of a proposed merger of exchanges.
+If we take it as a given that the regulators are there as a force for good — even if their well-meant interventions don’t always work out that way — there should never going to be a case where a counterparty has anything material to lose by having its data disclosed, confidentially, to regulators. Besides, even if the disclosure is only “requested” it is the sort of thing we should expect parties in a commercial relationship to be adult about: where the material is genuinely touchy and it ''can'' be disclosed, a broker with an interest in protecting its commercial relationship would consult its customer in any case — as indeed the clause goes on to contemplate. As t that:
+“'''Promptly notify'''”: The [[JC]]’s general preference is to tone down the need to notify, or god forbid, seek permission when making a regulatory disclosure (see below for obligatory essay) but there is a balance, and we think OneNDA strikes this balance fairly well. Also, if you ''notify'' the disclosure, then the question about whether you were strictly speaking entitled disclose becomes a bit moot.
+==General==
 {{confidentiality and regulatory disclosure}}
 {{regulator requests}}