Achieving The Balance Between Client Confidentiality And Compliance In Jersey

Jersey has never had, contrary to the belief held by some, banking secrecy enshrined in statute. It does have a statutory regime of data protection and client confidentiality is, of course, an important principle and fundamental to the relationship between banker and client. The principle was recognised by the Court of Appeal (of England and Wales) in its landmark decision Tournier v National Provincial and Union Bank of England [1924] 1 KB 461. That case recognised the duty of a banker, arising out of contract, not to disclose his clients' affairs. The duty applies to all information that the banker becomes privy to qua banker and survives the termination of the relationship of banker and client. The principles in that case have been adopted and developed by the Court in Jersey. Breach of that duty by the banker can lead to an action for damages.