PART 3Information and directions

F1Disclosure12

1

The FCA may disclose information it holds, provided the disclosure is made—

a

for purposes connected with the effective exercise of the functions of the FCA under these Regulations;

b

to a relevant authority, for purposes connected with the effective exercise of the functions of that relevant authority under these Regulations or the MLR;

c

to a law enforcement authority, for purposes connected with the exercise of the functions of that authority; or

d

with a view to the institution of, or otherwise for the purposes of, any criminal or other enforcement proceedings.

2

Information disclosed under paragraph (1) may not be further disclosed by any person except where the further disclosure—

a

has the consent of the person or persons mentioned in regulation 11(2)(a);

b

is made by, or to, a relevant authority for purposes connected with the effective exercise of the functions under these Regulations or the MLR of—

i

the relevant authority receiving the information, or

ii

the relevant authority disclosing the information;

c

is made by, or to, a law enforcement authority for purposes connected with the effective exercise of the functions of the law enforcement authority;

d

is made by a relevant authority with a view to the institution of, or otherwise for the purposes of, any criminal or other enforcement proceedings;

e

is made by, or to, the Secretary of State for purposes connected with the effective exercise of his or her functions under enactments relating to companies and insolvency; or

f

is required by law.

3

For the purposes of this regulation—

  • “law enforcement authority” means—

    1. a

      the National Crime Agency;

    2. b

      the police forces maintained under section 2 of the Police Act 1996 (maintenance of police forces);

    3. c

      the Police of the Metropolis;

    4. d

      the Police for the City of London;

    5. e

      the Police Service of Scotland;

    6. f

      the Police Service of Northern Ireland;

    7. g

      the Serious Fraud Office;

  • “relevant authority” means—

    1. a

      the Commissioners for Her Majesty’s Revenue and Customs;

    2. b

      the Financial Reporting Council;

    3. c

      the Gambling Commission;

    4. d

      the Legal Services Board;

    5. e

      an overseas authority, within the meaning of regulation 50(4) of the MLR, which undertakes to comply with such conditions in relation to the information as the FCA considers appropriate;

    6. f

      a self-regulatory organisation;

    7. g

      a skilled person;

    8. h

      the Secretary of State;

    9. i

      the Treasury.