The Securitisation Regulations 2018

Restrictions on disclosure of information

5.  Sections 348(1) (restrictions on disclosure of confidential information by FCA, PRA etc.), 349(2) (exceptions from section 348) and 352 (offences) of the Act(3) apply in respect of information received in connection with the FCA’s and the PRA’s functions under these Regulations and under the Act as applied by these Regulations as they apply in respect of information received in connection with the FCA’s and the PRA’s functions under the Act, as if—

(a) each reference to the Act included a reference to these Regulations;

(b) each reference to a section or Part of the Act were a reference to that section or Part as applied by these Regulations;

(c) in section 348(2), for “In this Part” there were substituted “In sections 348, 349 and 352 as applied by the Securitisation Regulations 2018”;

(d) in section 352—

(i) in subsection (1) “or 350(5)” were omitted;

(ii) subsection (4) were omitted;

(iii) in subsection (5) “or (4)” were omitted;

(iv) in subsection (6)(a) “or that it had been disclosed in accordance with section 350” were omitted.

(1)

Section 348 was amended by paragraph 26 of Schedule 2 to the Financial Services Act 2010 (c.28), paragraph 18 of Schedule 12 to the Financial Services Act 2012 (c.21), paragraph 5 of Schedule 8 to the Financial Services (Banking Reform) Act 2013 (c.33), paragraph 45 of Schedule 2 to the Bank of England and Financial Services Act 2016 (c.14) and S.I. 2016/1239.

(2)

Section 349 was amended by section 964 of the Companies Act 2006 (c.46), paragraph 19 of Schedule 12 to the Financial Services Act 2012 (c.21), S.I. 2006/1183, 2007/1093 and 2011/1043.

(3)

Section 352 was amended by paragraph 54 of Schedule 26 to the Criminal Justice Act 2003 (c.44).