P.R. Laws tit. 7, § 232q
(a) The information that the international banking entity provides to the Commissioner under the provisions of §§ 232 et seq. of this title and the regulations adopted thereunder by the Commissioner shall be kept confidential, except:
(1) When disclosure of such information is required by law or judicial order, or
(2) through a formal petition of a domestic or foreign government agency in the exercise of its supervisory function, when the Commissioner has grounds to believe that it is in the best public interest. In such case, the information shall be delivered under a binding agreement with the concerned government entity of maintaining the confidentiality of said information. Provided, That the exception under paragraph (1) above shall under no circumstances be extended to information regarding clients of the international banking entity, unless there is a formal petition by any domestic or U.S. government agency acting in accordance with the powers granted under §§ 232 et seq. of this title.
(b) The requirements under any federal or Puerto Rico law in connection with the privacy or confidentiality of any information or material provided to the Office of the Commissioner of Financial Institutions, and any privilege arising from any federal or Puerto Rico law, including the rules of any federal or Puerto Rico court with regard to said information or material shall continue to apply to such information or material after said information or material is revealed to the Office of the Commissioner of Financial Institutions. Said information and material may be shared with any official of a federal or Puerto Rico agency who has authority to oversee the banking industry, without precluding the protections of privileges or confidentiality provided under federal and Puerto Rico laws.
(c) This section shall not apply to information or material related to the employment history of any official or orders issued by the Commissioner to any licensee.
History —Aug. 11, 1989, No. 52, p. 178, § 19; Aug. 11, 1996, No. 121, § 9; renumbered as § 21 and amended on Sept. 23, 2013, No. 110, § 8.