- Draft legislation
This is a draft item of legislation and has not yet been made as a UK Statutory Instrument.
12.—(1) The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001(1) are amended as follows.
(2) In regulation 2 (interpretation), after the definition of “prescribed disciplinary proceedings”, insert—
““PRA rules” means the rules made by the PRA under the Act as they have effect from time to time;”.
(3) After regulation 10C insert—
10D. The PRA or a person who is employed by the PRA may disclose confidential information if it is necessary to do so in order to publish the outcome of a stress test conducted in respect of an insurance undertaking, which is also a UK Solvency II Firm as defined by the PRA rules, or a reinsurance undertaking, which is also a UK Solvency II firm as defined by the PRA rules.”.
(4) After regulation 12C insert—
12D. The PRA or a person who is employed by the PRA may disclose confidential information if it is necessary to do so in order to publish the outcome of a stress test conducted in respect of an insurance undertaking, which is also a UK Solvency II Firm as defined by the PRA rules, or a reinsurance undertaking, which is also a UK Solvency II Firm as defined by the PRA rules.”.
S.I. 2001/2188. Regulation 10C was inserted by S.I. 2020/1406 and regulation 12C was inserted by S.I. 2003/2174.
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