The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2009

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[^f00001], make the following Regulations:

Citation and commencement

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.

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

2

• (1) The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001[^f00002] are amended as follows.

• (2) At the end of the table in Schedule 2[^f00003] (disclosure of confidential information not subject to directive restrictions) add—

Signed

Dave Watts — Tony Cunningham — Two of the Lords Commissioners of Her Majesty’s Treasury — 27th October 2009

Explanatory note

(This note is not part of the Regulations)

EXPLANATORY NOTE

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.

Footnotes

[^f00001]: 2000 c.8.

[^f00002]: S.I. 2001/2188.

[^f00003]: Relevant amending instruments are S.I. 2001/3624, S.I. 2003/2174 and S.I. 2006/3413.