The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2006

Amendment of regulation 9

5.  In regulation 9(1) (disclosure by the Authority or Authority workers to certain other persons)—

(a) in paragraph (1) for “and (3)” substitute “, (3) and (3A)”;

(b) for paragraph (2)(a) substitute—

“(a) article 63 of the markets in financial instruments directive;”;

(c) in paragraph (3)(b) omit paragraph (i);

(d) after paragraph (3) insert—

“(3A) Paragraph (1) does not permit disclosure of markets in financial instruments information to a person specified in the first column of Schedule 1 other than a person listed in paragraph (3B) where that information—

(a) was obtained from an EEA competent authority under article 58.1 of the markets in financial instruments directive (“the directive”) or an overseas regulatory authority under a cooperation agreement referred to in article 63 of the directive, and

(b) that authority indicated at the time of communication that such information must not be disclosed,

unless that authority has given its express consent to the disclosure.

(3B) The persons are—

(a) the Bank of England,

(b) the European Central Bank,

(c) the central bank of any country or territory outside the United Kingdom, or

(d) a body (other than a central bank) in a country or territory outside the United Kingdom having—

(i) functions as a monetary authority; or

(ii) responsibility for overseeing payment systems.”.

(1)

Relevant amending instruments are S.I. 2004/3379 and 2003/693.