Part XXIII

Public Record, Disclosure of Information and Co-operation

Information received from Bank of England

Information received from Bank of England
353A
1
The FCA
must not disclose to any person specially protected information.
2
“Specially protected information” is information in relation to which the first and second conditions are met.
3
The first condition is that
the FCA received the information from the Bank of England.
4
The second condition is that the Bank notified the
FCA
that the Bank held the information for the purpose of its functions with respect to any of the following—
a
monetary policy;
b
financial operations intended to support financial institutions for the purposes of maintaining stability;
c
the provision of private banking services and related services.
5
The notification referred to in subsection (4) must be—
a
in writing, and
b
given before, or at the same time as, the Bank discloses the information.
6
The prohibition in subsection (1) does not apply—
a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b
where the Bank has consented to disclosure of the information;
c
to information which has been made available to the public by virtue of being disclosed in any circumstances in which, or for any purposes for which, disclosure is not precluded by this section;
d. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
In this section references to disclosure by or to
the FCA
or by the Bank include references to disclosure by or to—
a
persons who are, or are acting as,—
i
officers of, or members of the staff of, the
FCA
, or
ii
officers, employees or agents of the Bank, or
b
auditors, experts, contractors or investigators appointed by the
FCA
or the Bank under powers conferred by this Act or otherwise.
8
References to disclosure by
the FCA
do not include references to disclosure between persons who fall within any paragraph of subsection (7)(a) or (b) in relation to
the FCA
.
9
The FCA
must take such steps as are reasonable in the circumstances to prevent the disclosure of specially protected information, in cases not excluded by subsection (6), by those who are or have been—
a
its officers or members of staff (including persons acting as its officers or members of staff);
b
auditors, experts, contractors or investigators appointed by the
FCA
under powers conferred by this Act or otherwise;
c
persons to whom the
FCA
has delegated any of its functions.
10
In this section references to the Bank of England include the Bank acting in its capacity as the PRA.
Words in s. 353A(1) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(2) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Word in s. 353A(9)(b) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(8)(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Words in s. 353A(9) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(8)(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Words in s. 353A(8) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(7)(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Words in s. 353A(8) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(7)(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
S. 353A(6)(d) omitted (31.12.2020) by virtue of The Public Record, Disclosure of Information and Co-operation (Financial Services) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/681), regs. 1(3), 2(4); 2020 c. 1, Sch. 5 para. 1(1)
Word in s. 353A(7)(b) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(6)(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Words in s. 353A(3) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(3) (with Sch. 3); S.I. 2017/43, reg. 2(g)
S. 353A and cross-heading inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 12 para. 24 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
Word in s. 353A(7)(a)(i) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(6)(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Word in s. 353A(4) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
S. 353A applied by 1998 c. 11, s. 7H (as inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 11, 41(3) (with Sch. 3); S.I. 2016/627, reg. 2(1)(l))
Word in s. 353A(9)(c) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(8)(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
S. 353A(10) inserted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(9) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Words in s. 353A(7) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(6)(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)
S. 353A(6)(a) omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 46(5)(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)