For the purpose of this Directive, the competent authorities shall be those of the Member State the law of which governs the companies referred to in Article 1 (1). Article 14
1.Member States shall provide that every person who carries on or has carried on an activity in the employment of a competent authority whall be bound by professional secrecy. This means that no confidential information received in the course of their duties may be divulged to any person or authority except by virtue of provisions laid down by law.
2.Paragraph 1 shall not, however, preclude the competent authorities of the various Member States from exchanging information as provided for in this Directive. Information thus exchanged shall be covered by the obligation of professional secrecy to which persons employed or previously employed by the competent authorities receiving the information are subject.
3.A competent authority which receives confidential information pursuant to paragraph 2 may use it solely for the performance of its duties.