1. Any cooperation arrangement as referred to in Article 10(4), Article 11(1), point (h), and Article 12(5), point (b), shall be subject to guarantees of professional secrecy which are at least equivalent to those set out in Article 46. The exchange of information performed under such cooperation arrangements shall be intended for the performance of the tasks of ESMA or the third-country competent authorities.
2. With regard to transfers of personal data to a third country, ESMA shall apply Regulation (EU) 2018/1725 of the European Parliament and of the Council 38.