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

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Disclosure by the Authority or Authority workers to certain other personsU.K.

9.—(1) Subject to paragraphs (2) [F1, (3) and (3A)], the Authority or an Authority worker is permitted to disclose information to which this Part applies to a person specified in the first column in Schedule 1 for the purpose of enabling or assisting that person to discharge any of the functions listed beside him in the second column in that Schedule.

(2) Paragraph (1) does not permit disclosure to a person specified in the first column in Part 3 of Schedule 1 unless the disclosure is provided for by a cooperation agreement of the kind referred to in—

[F2(a)article 63 of the markets in financial instruments directive;]

(b)[F3article 46] of the banking consolidation directive;

(c)[F4article 16.3 of the life assurance consolidation directive];

(d)article 16.3 of the third non-life insurance directive, F5...

(e)article 50.4 of the UCITS directive [F6, or

(f)article 26 of the reinsurance directive].

[F7(2A) The references in paragraph (2) to the provisions mentioned in sub-paragraphs (a), F8... (d) and (e) are to those provisions as replaced by Directive 2000/64/EC of the European Parliament and of the Council of 7 November 2000].

(3) Paragraph (1) does not permit disclosure to a person specified in the first column in Part 4 of Schedule 1—

(a)of information obtained from an EEA competent authority, unless that authority has given its express consent to the disclosure; or

(b)of information obtained in the course of an on-the-spot verification of the kind referred to in—

F9(i). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(ii)[F10article 43] of the banking consolidation directive,

(iii)[F11article 11 of the life assurance consolidation directive], F12...

(iv)article 14 of the first non-life insurance directive [F13, or

(v)article 16 of the reinsurance directive]

unless the EEA competent authority of the state in which the on-the-spot verification was carried out has given its express consent to the disclosure.

[F14(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.]

Textual Amendments

F1Words in reg. 9(1) substituted (1.11.2007) by The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2006 (S.I. 2006/3413), regs. 1(2)(b), 5(a)

F2Reg. 9(2)(a) substituted (1.11.2007) by The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2006 (S.I. 2006/3413), regs. 1(2)(b), 5(b)