PART 4Provisions relating to information
Disclosure of confidential information11
In regulation 2 of the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 200115 (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 Council16;
b
in the definition of “single market directive information”, after “single market directives”, insert “or the conglomerates directive”.
Obtaining information—avoidance of duplication of reporting12
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.