Statutory Instruments
Financial Services And Markets
Made
27th October 2009
Laid before Parliament
28th October 2009
Coming into force
18th November 2009
The Treasury, in exercise of the powers conferred by sections 349(1)(b), (2) and (3) and 417(1) of the Financial Services and Markets Act 2000(1), make the following Regulations:
1. These Regulations may be cited as the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2009 and come into force on 18th November 2009.
2.—(1) The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001(2) are amended as follows.
(2) At the end of the table in Schedule 2(3) (disclosure of confidential information not subject to directive restrictions) add—
| “The Claims Management Regulator | Its functions as such”. |
Dave Watts
Tony Cunningham
Two of the Lords Commissioners of Her Majesty’s Treasury
27th October 2009
(This note is not part of the Regulations)
These Regulations amend the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (S.I. 2001/2188) (“the principal Regulations”) to allow for the disclosure of certain information by (a) primary recipients as defined in section 348(5) of the Financial Services and Markets Act 2000 (c. 8) (“the 2000 Act”) and (b) persons obtaining such information directly or indirectly from primary recipients (together referred to as “recipients”).
The principal Regulations define the circumstances in which recipients are permitted to disclose “confidential information” as defined in section 348(2) of the 2000 Act. The table in Schedule 2 to the principal Regulations provides a list of persons to whom confidential information not subject to single market directive restrictions (within the meaning of those Regulations) may be disclosed and the functions of that person for the purposes of regulation 12 of those Regulations. These Regulations amend that table to add the Claims Management Regulator (designated in accordance with section 5 of the Compensation Act 2006 c. 29) and its functions as such.
An Impact Assessment has not been prepared as no impact on the cost of business is foreseen.