PART 3Information and directions

Confidential information11

1

Subject to paragraph (2), confidential information must not be disclosed by any of the following (each a “primary recipient”)—

a

the FCA;

b

any person who is or has been an officer of the FCA;

c

a skilled person;

d

any person who is or has been employed by a skilled person,

or by any person obtaining the information directly or indirectly from a primary recipient.

2

This regulation does not prevent disclosure where the disclosure—

a

has the consent of—

i

the person from whom the primary recipient obtained the information; and

ii

if different, the person to whom it relates;

b

is made in accordance with regulation 12;

c

is made by a skilled person to the FCA (and the FCA is then treated for the purposes of paragraph (1) as a person obtaining the information from a primary recipient); or

d

is required by law.

3

In this regulation, “confidential information” means information which—

a

relates to the business or other affairs of any person;

b

was received by the primary recipient for the purposes of, or in the discharge of, any functions of the primary recipient under these Regulations; and

c

is not prevented from being confidential information by paragraph (4).

4

Information is not confidential information if—

a

it 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 regulation; or

b

it is in the form of a summary or collection of information so framed that it is not possible to ascertain from it information relating to any particular person.