Sharing of confidential information by a bank director

6 November 2019
Verdicts Disciplinary Committee
Professional ban

TRB-2019-4296.

The defendant, a commercial director of a local branch of a major bank, shared confidential financial records of a customer with a third party, an acquaintance of the defendant. The information was instrumental for the acquisition of the customer's house, as the information provided to the third party - the buyer - showed that the bank's customer was in mortgage arrears. This may have provided the acquiring third party with foreknowledge.

The bank filed a complaint with the foundation. The Disciplinary Commission took the incident very seriously, stating that the bank director was aware of the rules and should have known better. The committee sanctioned the director to a professional ban of six weeks. The name of the defendant was added to the foundation's registry, which is accessible by all banks.