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11. In regulation 2 of the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001(1) (interpretation)—
(a)after the definition of “Authority worker”, insert—
““conglomerates directive” means Directive 2002/87/EC of the European Parliament and of the Council of 16th December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC, 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council(2);”;
(b)in the definition of “single market directive information”, after “single market directives”, insert “or the conglomerates directive”.
12.—(1) Paragraph (2) applies if the Authority is the co-ordinator in relation to any financial conglomerate.
(2) If the Authority requires any disclosed information in connection with its functions as the co-ordinator, it must so far as possible obtain that information by requesting the competent authority which holds that information to disclose it to the Authority.
(3) In this regulation, “disclosed information” means information which a regulated entity in a financial conglomerate has disclosed to its competent authority.
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