s 342 Information given by auditor or actuary to a regulator .
(1) This section applies to a person who is, or has been, an auditor of an authorised person or recognised investment exchange, appointed under or as a result of a statutory provision. (2) This section also applies to a person who is, or has been, an actuary acting for an authorised person and appointed under or as a result of a statutory provision. (3) An auditor or actuary does not contravene any duty to which he is subject merely because he gives to a regulator — (a) information on a matter of which he has, or had, become aware in his capacity as auditor of, or actuary acting for, the authorised person or recognised investment exchange , or (b) his opinion on such a matter, if he is acting in good faith and he reasonably believes that the information or opinion is relevant to any functions of that regulator . (4) Subsection (3) applies whether or not the auditor or actuary is responding to a request from the regulator . (5) The Treasury may make regulations prescribing circumstances in which an auditor or actuary must communicate matters to a regulator as mentioned in subsection (3). (6) It is the duty of an auditor or actuary to whom any such regulations apply to communicate a matter to a regulator in the circumstances prescribed by the regulations. (6A) If the authorised person concerned is a credit institution or an investment firm, and an auditor or actuary communicates a matter to a regulator in accordance with the regulations, the matter must be disclosed simultaneously to the management body of the authorised person, unless there are compelling reasons not to do so. (7) The matters to be communicated to a regulator in accordance with the regulations may include matters relating to persons other than the authorised person or recognised investment exchange concerned. (8) In subsection (6A) “investment firm” has the same meaning as in Article 4(1) of the capital requirements regulation.