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TITLE VIIU.K. PRUDENTIAL SUPERVISION

CHAPTER 1 U.K. Principles of prudential supervision

Section II U.K. Exchange of information and professional secrecy

Article 61U.K.Disclosure of information concerning clearing and settlement services

1.Nothing in this Chapter shall prevent the competent authorities of a Member State from communicating the information referred to in Articles 53, 54 and 55 to a clearing house or other similar body recognised under national law for the provision of clearing or settlement services for one of their national markets if they consider that it is necessary to communicate the information in order to ensure the proper functioning of those bodies in relation to defaults or potential defaults by market participants. The information received shall be subject to professional secrecy requirements at least equivalent to those referred to in Article 53(1).

2.Member States shall, however, ensure that information received under Article 53(2) shall not be disclosed in the circumstances referred to in paragraph 1 without the express consent of the competent authorities, which have disclosed it.