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Financial Confidentiality Agreement for Austria

Financial Confidentiality Agreement Template for Austria

A comprehensive legal document governed by Austrian law that establishes binding confidentiality obligations for parties handling sensitive financial information. The agreement incorporates requirements from the Austrian Civil Code (ABGB), Austrian Banking Act (BWG), and EU GDPR, ensuring compliance with both national and European regulatory frameworks. It provides detailed provisions for protecting confidential financial data, including handling procedures, security measures, permitted disclosures, and remedies for breach, while addressing specific Austrian legal requirements regarding banking secrecy and data protection.

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What is a Financial Confidentiality Agreement?

The Financial Confidentiality Agreement is essential for businesses operating in Austria's financial sector where sensitive financial information needs to be shared between parties. This document is particularly crucial when financial institutions, corporations, or professional services firms need to exchange confidential financial data, proprietary information, or customer details. The agreement ensures compliance with Austrian legal requirements, including the Austrian Banking Act (BWG), Civil Code (ABGB), and EU GDPR, while providing robust protection for confidential information. It's commonly used in financial transactions, due diligence processes, professional engagements, and financial advisory relationships where parties need to share sensitive financial data while maintaining strict confidentiality and regulatory compliance.

What sections should be included in a Financial Confidentiality Agreement?

1. Parties: Identification of the contracting parties, including full legal names, registration details, and addresses

2. Background: Context of the agreement, nature of the financial relationship, and purpose of information sharing

3. Definitions: Detailed definitions of Confidential Information, Financial Data, Permitted Purpose, Authorized Representatives, and other key terms

4. Scope of Confidential Information: Detailed description of what constitutes confidential information, including financial data, trade secrets, and proprietary information

5. Confidentiality Obligations: Core obligations regarding the protection, use, and non-disclosure of confidential information

6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including to authorized representatives and regulatory authorities

7. Data Protection and GDPR Compliance: Specific provisions ensuring compliance with GDPR and Austrian data protection laws

8. Security Measures: Required technical and organizational measures to protect confidential information

9. Return or Destruction of Information: Procedures for handling confidential information upon termination or request

10. Term and Survival: Duration of the agreement and surviving obligations

11. Breach and Remedies: Consequences of breach and available remedies including injunctive relief

12. General Provisions: Standard clauses including governing law, jurisdiction, and entire agreement

What sections are optional to include in a Financial Confidentiality Agreement?

1. Banking Secrecy Provisions: Additional provisions specifically for agreements involving banks or credit institutions subject to Austrian Banking Act

2. Market Abuse Prevention: Special provisions for agreements involving listed companies or market-sensitive information

3. Group Company Provisions: Additional terms for sharing with group companies or affiliates

4. International Transfer Provisions: Specific provisions for cross-border transfer of financial information

5. Regulatory Compliance: Additional compliance requirements for regulated financial institutions

6. Insurance Requirements: Specific insurance obligations for handling sensitive financial data

7. Audit Rights: Provisions allowing audit of confidentiality compliance measures

What schedules should be included in a Financial Confidentiality Agreement?

1. Schedule 1 - Authorized Representatives: List of individuals authorized to receive and handle confidential information

2. Schedule 2 - Security Protocols: Detailed technical and organizational security measures to be implemented

3. Schedule 3 - Information Categories: Categorization of different types of confidential information and their handling requirements

4. Schedule 4 - Approved Subcontractors: List of approved third parties who may receive confidential information

5. Appendix A - Data Processing Terms: Detailed GDPR-compliant data processing terms where applicable

6. Appendix B - Information Return Form: Standard form for documenting return or destruction of confidential information

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Austria

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions




































Clauses






























Relevant Industries

Banking

Financial Services

Insurance

Investment Management

Private Equity

Corporate Finance

FinTech

Professional Services

Accounting

Asset Management

Capital Markets

Wealth Management

Regulatory Compliance

Risk Management

Relevant Teams

Legal

Finance

Compliance

Risk Management

Treasury

Corporate Development

Data Protection

Information Security

Regulatory Affairs

Internal Audit

Corporate Finance

Investment Banking

Operations

Relevant Roles

Chief Financial Officer

Financial Controller

Compliance Officer

Legal Counsel

Risk Manager

Investment Manager

Financial Analyst

Banking Executive

Finance Director

Treasury Manager

Data Protection Officer

Audit Manager

Corporate Finance Manager

Investment Banker

Financial Advisor

Privacy Officer

Regulatory Compliance Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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