Khiznyak A. Civil law aspect of banking secrecy

The dissertation is the first in the domestic science of civil law special comprehensive study of the civil law aspect of legal regulation of relations in the field of preservation and disclosure of banking secrecy. The study included a comprehensive analysis of scientific approaches to the definition of banking secrecy, legislation in the field of subjective civil rights to protect financial information and legal practice on the protection of this right and compensation. In the course of research of historical and theoretical bases of formation of institute of bank secrecy the basic stages of genesis of institute of bank secrecy were analyzed, the concept of the last is defined, functions, signs and place of bank secret in legal reality are allocated. According to a study of the history of domestic legislation in the field of banking secrecy, it is clear that the rules of civil law in the field of banking secrecy originate in the era of transition from feudal to capitalist system, when the law begins to take into account the private interests of individual businesses and and public interests of the state. In the Ukrainian lands, the first norms in the field of protection of information received by financial institutions were enshrined in the Criminal and Correctional Penal Code of 1845 (as amended in 1866 and 1885). The provisions of the act established liability for encroachment on various types of commercial information, including the secrecy of information obtained by credit institutions. Based on the analysis of the historical stages of the formation of the institute of banking secrecy, it is determined that the origins of the genesis of the institute of banking secrecy were formed long before the creation of the first banking institutions in their modern sense. Legal regulation of banking secrecy became derived from the previously formed trade secrecy, governed by the customs of business. The formation of the confidential status of the depositor took place during the activities of individual moneylenders, in the period when the latter moved from the implementation of exclusively credit operations to the acceptance of money for safekeeping. Quite often, the illegal origin of funds led to a situation in which clients of moneylenders were interested in withholding information about their deposits, so such qualities of the moneylender as the degree of its reliability, ability to maintain the secrecy of the deposit directly influenced the choice of moneylender. The analysis of domestic legislation in the field of protection of banking secrecy shows that there are permanent attempts to improve the legal regulation of these relations and increase the effectiveness of law enforcement practice in this area. The study argues that at the present stage of development of the institution of banking secrecy is changing approaches to understanding banking secrecy from competitive advantage received by customers of individual banks given the information policy of such a bank and its independent status, to an integral fundamental regulatory position in the relationship between the bank and the client.