390It must be observed that the Court of Justice has held that, if the objectives pursued by Article 54(1) of Directive 2004/39 are not to be jeopardised, the competent authorities are, as a general rule, bound to comply with the obligation of professional secrecy imposed on them by that provision throughout the period during which the information that they hold for the purposes of that directive has to be deemed to be confidential. That said, the passage of time is a circumstance that is normally liable to have an influence on the analysis of whether the conditions governing the confidentiality of the information concerned are satisfied at a given point in time (see judgment of 19 June 2018, Baumeister, C‑15/16, EU:C:2018:464, paragraphs 48 and 49 and the case-law cited).
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.