The Confidential Relationships (Preservation) Law: Confidentiality Legislation in the Cayman Islands

In this guide Harneys considers the scope of the Cayman Islands’ Confidential Relationships (Preservation) Law and the sanctions that apply to contraventions of it.

The Cayman Islands government considers the preservation of confidentiality in legitimate business dealings to be of such importance that a duty of confidence has been imposed by statute on certain categories of person in the Cayman Islands and it has been made a criminal offence to make use of, divulge, obtain or attempt to divulge or obtain confidential information. These offences, together with a number of gateways through which confidential information may lawfully be disclosed, are set out in the Cayman Islands’ Confidential Relationships (Preservation) Law (CRPL).

CRPL: an overview -

CRPL was enacted in 1976 with the intention of protecting the confidentiality of commercial activities and protecting bona fide business dealings taking place in or in connection with the Cayman Islands. Effectively CRPL seeks to place on a statutory footing the common law duty of confidentiality which is owed by a bank to its customer and to extend it to other professional relationships. A breach of that duty, unless the disclosure occurs in accordance with the provisions of CRPL, is a criminal offence.

Please see full guide below for more information.

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Topics:  Banks, Breach of Duty, Confidentiality, New Legislation, Offshore Banks

Published In: General Business Updates, Criminal Law Updates, Finance & Banking Updates, Privacy Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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