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The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016

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This is the original version (as it was originally made).

Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

This section has no associated Explanatory Memorandum

2.—(1) The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001(1) is amended as follows.

(2) In regulation 2(2) (definitions)—

(a)in the definition of “EEA competent authority” for “or the market abuse regulation” substitute “, the market abuse regulation or the SFT regulation”;

(b)in the definition of “single market restrictions”—

(i)at the end of paragraph (m) omit “and”;

(ii)at the end of paragraph (n) insert “and”;

(iii)after paragraph (n) insert—

“(o)article 18 of the SFT regulation;”;

(c)at the appropriate place insert—

““SFTR information” means confidential information received by a regulator in the course of discharging its functions as a competent authority under the SFT regulation;”.

(3) In regulation 8(3) (application of provisions on single market information)—

(a)at the end of paragraph (d) omit “and”;

(b)at the end of paragraph (e) insert “and”;

(c)after paragraph (e) insert—

“(f)SFTR information, where that information has been received from the competent authority of an EEA State other than the United Kingdom under the SFT regulation.”.

(4) In regulation 9(4) (disclosure by regulators or regulator workers to certain other persons)—

(a)in paragraph (1) after “(3E)” insert “, (3EA)”;

(b)after paragraph (3E) insert—

“(3EA) Paragraph (1) does not permit disclosure of SFTR information to a person specified in the first column of Schedule 1 in contravention of Article 18 of the SFT regulation.”.

(5) In regulation 11(5) (application of provisions on the disclosure of confidential information not subject to single market restrictions) after paragraph (f) insert—

“(fa)SFTR information where that information has been received from the competent authority of an EEA State other than the United Kingdom under the SFT regulation, unless that authority has given its express consent for disclosure that is covered by this Part;”.

(2)

Regulation 2 was amended by S.I. 2003/2066, S.I. 2006/3413, S.I. 2013/504 and S.I. 2016/680. There are other amendments not relevant to these Regulations.

(3)

Regulation 8 was inserted by S.I. 2006/3413 and is amended by S.I. 2016/680. There are other amendments not relevant to these Regulations.

(5)

Regulation 11 is amended by S.I. 2016/680. There are amendments to regulation 11 not relevant to these Regulations.

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