The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2012

JurisdictionUK Non-devolved
CitationSI 2012/3019

2012 No. 3019

Financial Services And Markets

The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2012

Made 4th December 2012

Laid before Parliament 5th December 2012

Coming into force 26th December 2012

The Treasury, in exercise of the powers conferred on them by sections 349(1)(b), (2) and (3), and 417(1) of the Financial Services and Markets Act 20001, make the following Regulations:

S-1 Citation and commencement

Citation and commencement

1. These Regulations may be cited as the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2012 and come into force on 26th December 2012.

S-2 Amendment of the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

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

2.—(1) The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 20012are amended as follows.

(2) At the end of the table in Schedule 2 (disclosure of confidential information not subject to single market restrictions) add—

“The Gas and Electricity Markets Authority

Its functions under any enactment”

Mark Lancaster

Robert Goodwill

Two of the Lords Commissioners of Her Majesty’s Treasury

4th December 2012

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations amend Schedule 2 to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 ( S.I. 2001/2188) (“the principal Regulations”) to reinstate the Gas and Electricity Markets Authority (“GEMA”) as a body to which confidential information as defined in section 348(2) of the Financial Services and Markets Act 2000 (c.8)(“the Act”) that is not subject to single market restrictions (within the meaning of the principal Regulations) may be disclosed by either (1) a primary recipient of the information or (2) a person obtaining such information directly or indirectly from a primary recipient. “Primary recipients” of confidential information are: the Financial Services Authority; the Secretary of State; their current and former employees; auditors and experts instructed by them; skilled persons appointed to gather information under section 139E of the Act and persons appointed to make a report under section 166 of the Act.

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