Rule 80-1-11-.06. Sharing Confidential Supervisory Information

Rule 80-1-11-.06. Sharing Confidential Supervisory Information

1. (1) When necessary or appropriate for business purposes, a financial institution, or any director, officer, or employee thereof, may disclose information contained in, or related to, reports of examination issued by the Department, to a person or organization officially connected with the financial institution as officer, director, or employee or as an external accountant, attorney, or consultant. A financial institution or a director, officer, or employee may make such disclosure if the external accountant, attorney, or consultant is under a written contract to provide services to the financial institution and the external accountant, attorney, or consultant has a written agreement with the financial institution in which the external accountant, attorney, or consultant:

   1. (a) States its awareness of, and agreement to maintain the confidentiality of the disclosed information as required by O.C.G.A. §§ 7-1-67 and 7-1-70; and
   2. (b) Agrees not to use the disclosed information for any purpose other than as provided under its contract to provide services to the financial institution.
2. (2) The requirements for written contractual acknowledgements and agreements shall not apply if the recipient of the disclosed information is subject to independent ethical standards to maintain the confidentiality of such information

Authority: O.C.G.A. §§ 7-1-61; 7-1-70.

History. Original Rule entitled "Sharing Confidential Supervisory Information" adopted. F. June 27, 2018; eff. July 17, 2018.