SCHEDULE 3Amendments to secondary legislation made under the Financial Services and Markets Act 2000
Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 20014
1
The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001225 are amended as follows.
2
In regulation 2226 (interpretation)—
a
in the definition of “EEA competent authority”, after “the EMIR regulation” omit “, the market abuse regulation”;
b
omit the definition of “market abuse regulation information”;
c
in the definition of “markets in financial instruments directive information” after “markets in financial instruments directive” insert “and the markets in financial instruments regulation”;
d
in the definition of “single market information” after “markets in financial instruments directive” insert “, the markets in financial instruments regulation”; and
e
in the definition of “single market restrictions”—
i
in paragraph (a) for “54 and 58” substitute “76 and 81”;
ii
at the end of paragraph (m), after “;” insert “and”; and
iii
omit paragraph (n).
3
In regulation 8 (disclosure of single market information)—
a
in paragraph (b)—
i
in sub-paragraph (i) for “article 63” substitute “article 88”; and
ii
in sub-paragraph (ii)227 for “article 58.1” substitute “article 81.1”;
b
at the end of paragraph (d) insert “and”; and
c
omit paragraph (e).
4
In regulation 9 (disclosure by regulators or regulator workers to certain other persons) —
a
in paragraph (1) after “(3F),” omit “(3G),”;
b
in paragraph (2), for “, (2C) or (2D)” substitute “or (2C)”;
c
in paragraph (2ZA)228 for “article 63” substitute “article 88”;
d
omit paragraph (2D)229;
e
in paragraph (3A)(a)230 for “article 58.1” substitute “article 81.1”; and
f
omit paragraph (3G)231.
5
In regulation 11 (disclosure of confidential information not subject to single market restrictions)—
a
in paragraph (d)—
i
in sub-paragraph (i)232 for “article 63” substitute “article 88”;
ii
in sub-paragraph (ii)233 for “article 58.1” substitute “article 81.1”; and
b
omit paragraph (h).
6
After regulation 12(4) (disclosure by and to a Schedule 1 or 2 person or disciplinary proceedings authority) insert—
5
This regulation does not permit the disclosure of information if—
a
the information is confidential information received by the FCA in the course of discharging its functions as a competent authority under the market abuse regulation or any directly applicable EU regulation made under the market abuse regulation; and
b
the disclosure of the information contravenes the market abuse regulation.