Application of this Part
This Part applies to confidential information other than—
(a) specified confidential EU law information ;
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(d) markets in financial instruments ... information, where that information has been received from a third country regulatory authority under a cooperation agreement unless that authority has given its express consent for disclosure that is covered by this Part;
(e) UCITS ... information, where that information has been received from a third country regulatory authority under a cooperation agreement unless that authority has given its express consent for disclosure that is covered by this Part;
(f) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(fa) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(g) recovery and resolution ... information ;
(h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Disclosure by and to a Schedule 1 or 2 person or disciplinary proceedings authority
(1) A primary recipient of information to which this Part applies, or a person obtaining such information directly or indirectly from a primary recipient, is permitted to disclose such information to—
(a) a person specified in the first column in Schedule 1 or 2 for the purpose of enabling or assisting that person to discharge any function listed beside him in the second column in Schedule 1 or 2; or
(b) a disciplinary proceedings authority for the purposes of any prescribed disciplinary proceedings which have been or may be initiated, or for the purpose of initiating or bringing to an end any such proceedings, or of facilitating a determination of whether they should be initiated or brought to an end.
(2) A person specified in the first column in Schedule 1 or 2 is permitted to disclose information to which this Part applies to any person for the purpose of enabling or assisting the person making the disclosure to discharge any function listed beside him in the second column in Schedule 1 or 2.
(3) A disciplinary proceedings authority is permitted to disclose information to which this Part applies to any person for any of the purposes mentioned in paragraph (1)(b).
(3A) This regulation does not permit disclosure of short selling information to a person specified in the first column in Part 3 of Schedule 1 unless the disclosure is in accordance with paragraph (3B) or a cooperation arrangement on the exchange of data and information with that person.
(3B) The FCA may disclose short selling information to a person specified in the first column in Part 3 of Schedule 1 where—
(a) the disclosure does not contravene Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data or the Data Protection Act 2018,
(b) the FCA is satisfied that the disclosure is necessary for the purposes of the Short Selling Regulations 2025, and
(c) any such disclosure is made under agreement that the person shall not disclose the data to the supervisory authority of another country without the express written authorisation of the FCA.
(3C) Where the short selling information has been received from the supervisory authority of another country, the FCA may disclose the information to another person specified in the first column in Part 3 of Schedule 1 only where—
(a) the FCA has obtained the express agreement of the person which transmitted the information, and
(b) where applicable, the information is disclosed solely for the purposes for which that person gave its agreement.
(4) This regulation does not permit disclosure of short selling regulation information to a person specified in the first column in Part 3 of Schedule 1 unless the disclosure is in accordance with article 40 of the short selling regulation or a cooperation arrangement of the kind referred to in article 38 of the short selling regulation.
(5) This regulation does not permit the disclosure of information if—
(a) the information is confidential information received by the FCA in the course of discharging its functions as a competent authority under the market abuse regulation or any directly applicable EU regulation made under the market abuse regulation; and
(b) the disclosure of the information contravenes the market abuse regulation.
(6) This regulation does not permit disclosure of the EU Benchmarks Regulation 2016 information which has been received from another competent authority unless the disclosure is in accordance with Article 38 of the EU Benchmarks Regulation 2016.
The Gambling Commission
The Gambling Commission may disclose information to which this Part applies to the Comptroller and Auditor General for the purpose of enabling or assisting the Comptroller and Auditor General to carry out an examination under Part II of the National Audit Act 1983 in relation to the Commission.
Electronic commerce
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Proceedings under the Proceeds of Crime Act 2002
A primary recipient of information to which this Part applies, or a person obtaining such information directly or indirectly from a primary recipient is permitted to disclose such information to any person for the purposes of any proceedings under the Proceeds of Crime Act 2002 which have been or may be initiated.
Disclosure of information in order to publish a stress test in relation to insurance undertakings and reinsurance undertakings
The PRA or a person who is employed by the PRA may disclose confidential information if it is necessary to do so in order to publish the outcome of a stress test conducted in respect of an insurance undertaking, which is also a UK Solvency II Firm as defined by the PRA rules, or a reinsurance undertaking, which is also a UK Solvency II Firm as defined by the PRA rules.
Contains public sector information licensed under the Open Government Licence v3.0 (legislation.gov.uk).
