Secrecy laws Clause Samples
A Secrecy Laws clause establishes the obligation of parties to comply with applicable confidentiality and privacy regulations when handling sensitive information. In practice, this clause requires that any disclosure, use, or transfer of information must adhere to relevant national or international secrecy statutes, such as banking secrecy or data protection laws. Its core function is to ensure that contractual activities do not inadvertently violate legal requirements regarding confidential information, thereby protecting both parties from legal liability and regulatory penalties.
Secrecy laws. If you are based in a jurisdiction with client secrecy laws, you consent to the disclosure of information in accordance with the above paragraphs. In circumstances where you act for the account of clients and such secrecy laws prohibit disclosure, you will procure the consent of the ultimate beneficiary of the transaction to the disclosure of any information in accordance with the above paragraphs. In addition, as client you agree to waive the protections afforded by any applicable client secrecy laws, or as a counterparty or intermediary, you agree to procure the written waiver of the beneficiary to such protections in relation to Relevant Transactions.