The Electronic Money Regulations 2011

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

11.  The Financial Services and Markets Act 2000 (Disclosure of Confidential Information Regulations 2001 M1 apply with the following modifications—

(a) in regulation 2—

(i) in the definition of “directive restrictions” for “and article 9 of the insurance mediation directive” substitute “ , article 9 of the insurance mediation directive and Article 3 of the electronic money directive insofar as it applies Article 22 of the payment services directive ”;

(ii) after the definition of “EEA regulatory authority” insert—

““electronic money directive” means Directive 2009/110/EC of the European Parliament and of the Council of 16th September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions;

“electronic money directive information” means confidential information received by the Authority in the course of discharging its functions as the competent authority under the electronic money directive;”; and

(iii) in paragraph (a) of the definition of “overseas regulatory authority” after “of the Act” insert “ or any function conferred under national legislation in implementation of the electronic money directive ”;

(b) in regulation 5(4)(a) and (6)(d) and (e) for “an authorised person, former authorised person or former regulated person” substitute in each case “ an electronic money institution or former electronic money institution ”;

(c) in regulation 8 after paragraph (b) insert—

“(c) electronic money directive information.”;

(d) for regulation 9(4) substitute—

“(4) Paragraph (1) does not permit disclosure to the persons specified in the first column in Part 6 of Schedule 1 unless the disclosure is of electronic money directive information.”;

(e) in regulation 11 after paragraph (d) insert—

“(e) electronic money directive information.”;

(f) in the second column in Part 1 of Schedule 1, in the list of functions beside—

(i) “An official receiver appointed under section 399 of the Insolvency Act 1986, or an official receiver for Northern Ireland appointed under article 355 of the Insolvency (Northern Ireland) Order 1989”, after paragraph (ii) insert—

“or

(iii)

electronic money issuers or former electronic money issuers”;

(ii) “The Department of Enterprise, Trade and Investment in Northern Ireland”, after paragraph (c)(ii) insert—

“or

(iii)

electronic money issuers or former electronic money issuers”;

(iii) “The Pensions Regulator”, after paragraph (ii) insert—

“or

(iii)

electronic money issuers or former electronic money issuers”;

(iv) “The Charity Commissioners for England and Wales”, after paragraph (ii) insert—

“or

(iii)

electronic money issuers or former electronic money issuers”; and

(g) in Schedule 1, after Part 5 insert—

“PART 6 U.K.

Person	Functions
The Commissioners for Her Majesty's Revenue and Customs	Their functions under the Money Laundering Regulations 2007”

Marginal Citations

M1 S.I. 2001/2188; relevant amending instruments are S.I. 2003/1473, 2005/3071, 2006/3413 and 2010/2628.