The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2014

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations amend Schedules 1 and 2 to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (S.I. 2001/2188) (“the principal Regulations”), which set out the bodies to which and by which confidential information (as defined in section 348(2) of the Financial Services and Markets Act 2000 (c. 8) (“the 2000 Act”)) may be disclosed and the functions of those bodies in relation to which the disclosure may be made.

Regulation 2(2) adds the Payment Systems Regulator as a body to which and by which confidential information may be disclosed. Provision for the establishment of the Payment Systems Regulator is made by section 40 of the Financial Services (Banking Reform) Act 2013.

Regulation 2(3) amends the description of the relevant functions of the Office of Communications to include its functions under other enactments in addition to its functions under the Postal Services Act 2011 (c. 5), including the Communications Act 2003 (c. 21) and the Digital Economy Act 2010 (c. 24).

An impact assessment has not been produced for this instrument as no impact on the cost of business or the voluntary sector is foreseen. Further information is available from HM Treasury, 1 Horse Guards Road, London SW1A 2HQ and on the HM Treasury website ( www.gov.uk/government/organisations/hm-treasury).