Financial Services and Markets Act 2000

[F1354AFCA's duty to co-operate with othersU.K.

This section has no associated Explanatory Notes

(1)The FCA must take such steps as it considers appropriate to co-operate with other persons (whether in the United Kingdom or elsewhere) who have functions—

(a)similar to those of the FCA, or

(b)in relation to the prevention or detection of financial crime.

(2)The persons referred to in subsection (1) do not include the Bank of England or the PRA (but see sections 3D and 3Q).

(3)The FCA must take such steps as it considers appropriate to co-operate with—

(a)the Panel on Takeovers and Mergers;

(b)an authority designated as a supervisory authority for the purposes of Article 4.1 of the Takeovers Directive;

(c)any other person or body that exercises functions of a public nature, under legislation in any country or territory outside the United Kingdom, that appear to the FCA to be similar to those of the Panel on Takeovers and Mergers.

(4)Co-operation may include the sharing of information which the FCA is not prevented from disclosing.

(5)“Financial crime” has the meaning given in section 1H(3).]

Textual Amendments