The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

PART IVU.K. DISCLOSURE OF CONFIDENTIAL INFORMATION NOT SUBJECT TO [F1RETAINED EU LAW RESTRICTIONS]

Textual Amendments

Modifications etc. (not altering text)

Application of this PartU.K.

11.  This Part applies to confidential information other than—

(a)[F2specified confidential EU law information];

F3(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F5(d)markets in financial instruments F6... information, where that information has been received [F7from a third country regulatory authority under a cooperation agreement unless that authority has given its express consent for disclosure that is covered by this Part;]

[F8(e)UCITSF9... information, where that information has been received [F10from a third country regulatory authority under a cooperation agreement unless that authority has given its express consent for disclosure that is covered by this Part;]

F11(f). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(fa). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F13(g)recovery and resolution F14... information];

F15(h). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]]

Textual Amendments

F15Reg. 11(h) omitted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 4(5)(b) (with reg. 7)

Modifications etc. (not altering text)

Disclosure by and to a Schedule 1 or 2 person or disciplinary proceedings authorityU.K.

12.—(1) A primary recipient of information to which this Part applies, or a person obtaining such information directly or indirectly from a primary recipient, is permitted to disclose such information to—

(a)a person specified in the first column in Schedule 1 or 2 for the purpose of enabling or assisting that person to discharge any function listed beside him in the second column in Schedule 1 or 2; or

(b)a disciplinary proceedings authority for the purposes of any prescribed disciplinary proceedings which have been or may be initiated, or for the purpose of initiating or bringing to an end any such proceedings, or of facilitating a determination of whether they should be initiated or brought to an end.

(2) A person specified in the first column in Schedule 1 or 2 is permitted to disclose information to which this Part applies to any person for the purpose of enabling or assisting the person making the disclosure to discharge any function listed beside him in the second column in Schedule 1 or 2.

(3) A disciplinary proceedings authority is permitted to disclose information to which this Part applies to any person for any of the purposes mentioned in paragraph (1)(b).

[F16(4) This regulation does not permit disclosure of short selling regulation information to a person specified in the first column in Part 3 of Schedule 1 unless the disclosure is in accordance with article 40 of the short selling regulation or a cooperation arrangement of the kind referred to in article 38 of the short selling regulation.]

[F17(5) This regulation does not permit the disclosure of information if—

(a)the information is confidential information received by the FCA in the course of discharging its functions as a competent authority under the market abuse regulation or any directly applicable EU regulation made under the market abuse regulation; and

(b)the disclosure of the information contravenes the market abuse regulation.]

[F18(6) This regulation does not permit disclosure of the EU Benchmarks Regulation 2016 information which has been received from another competent authority unless the disclosure is in accordance with Article 38 of the EU Benchmarks Regulation 2016.]

Textual Amendments

F17Reg. 12(5) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 4(6) (with reg. 7)

[F19The Gambling Commission]U.K.

[F2012A.  The [F21Gambling] Commission may disclose information to which this Part applies to [F22the Comptroller and Auditor General] for the purpose of enabling or assisting the Comptroller and Auditor General to carry out an examination under Part II of the National Audit Act 1983 in relation to the Commission.]

Textual Amendments

Electronic commerceU.K.

F2312B.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

[F24Proceedings under the Proceeds of Crime Act 2002]U.K.

[F2512C.  A primary recipient of information to which this Part applies, or a person obtaining such information directly or indirectly from a primary recipient is permitted to disclose such information to any person for the purposes of any proceedings under the Proceeds of Crime Act 2002 which have been or may be initiated.]

Textual Amendments

[F26Disclosure of information in order to publish a stress test in relation to insurance undertakings and reinsurance undertakingsU.K.

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.]

Textual Amendments