Page 316 - Regional Comprehensive Economic Partnership (RCEP)

customers, or any confidential or proprietary information in the
possession of public entities.

Article 6: Recognition

1. A Party may recognise prudential measures of any international
standard-setting body, another Party, or a non-Party in
determining how its measures relating to financial services shall
be applied. Such recognition, which may be achieved through
4
harmonisation or otherwise, may be based on an agreement or
arrangement with the international standard-setting body, other
Party, or non-Party concerned, or may be accorded
autonomously.

2. A Party that is party to an agreement or arrangement referred to
in paragraph 1, whether existing or future, shall afford adequate
opportunity for other interested Parties, to negotiate their
accession to such an agreement or arrangement, or to negotiate
comparable ones with it, under circumstances in which there
would be equivalent regulation, oversight, implementation of such
regulation, and, if appropriate, procedures concerning the sharing
of information between the parties to the agreement or
arrangement.

3. Where a Party accords recognition autonomously, it shall afford
adequate opportunity for any other Party to demonstrate that the
circumstances referred to in paragraph 2 exist.

Article 7: Transparency

1. The Parties recognise that transparent measures governing the
activities of financial service suppliers are important in facilitating
their ability to gain access to, and operate in, each other’s
markets. Each Party commits to promote regulatory transparency
in financial services.

4 For greater certainty, nothing in Article 8.6 (Most-Favoured-Nation Treatment) shall
be construed to require a Party to accord such recognition to prudential measures of
any other Party.

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