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ARTICLE · 08 JULY 2021

New Banking Regulation On Disclosure Of Confidential Client Information Published

Moroglu Arseven
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On 4 June 2021, a new Regulation on Disclosure of Confidential Client Information drafted by the Banking Regulatory and Supervisory Authority, ("Regulation") has been published...

TurkeyFinance and Banking
Dr. E. Seyfi Moroğlu, LL.M.
Dr. E. Seyfi Moroğlu, LL.M.
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On 4 June 2021, a new Regulation on Disclosure of Confidential Client Information drafted by the Banking Regulatory and Supervisory Authority, ("Regulation") has been published in Official Gazette numbered 31501. The Regulation will be effective as of 1 January 2022.

The Regulation governs confidentiality and non-disclosure of confidential client information under article 73/3 of Banking Law numbered 5411.

The Regulation refers to Law on the Personal Data Protection Law numbered 6698 but defines the concept of "anonymization" differently. In addition, in the same vein, the Regulation adds a new definition of "de-identification".

Notable provisions include the followings:

  • Pursuant to the Regulation, unless otherwise provided therein or authorized by law:

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