Regulation 7 Publication of specified informationI1

United Kingdom

(1)

The Bank of England may publish specified information to the extent that publication is necessary for any purpose in connection with its functions as an overseer of F1... payment systems F2and service providers in relation to such systems (whether under Part 5 of the Act or otherwise)—

(a)

where the information has already lawfully entered the public domain,

(b)

with the consent of the person from whom the Bank of England obtained the information and, if different, the person to whom the information relates, or

(c)

where the information is published in the form of a summary or collection of information so framed as not to enable information relating to any particular person to be ascertained from it.

(2)

Where the specified information relates to a person who—

(a)

is, or has applied to become, a recognised investment exchange within the meaning of section 285 of the Financial Services and Markets Act 2000 (exemption for recognised investment exchanges F3, clearing houses and CSDs)^f1, F4or

F5(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)

has, or has applied for, permission under Part 4 of that Act (permission to carry on regulated activities)^f2,

before publishing that information, the Bank of England must consult the F6the relevant regulator.

F7(3)

In this regulation, “the relevant regulator” means—

(a)

in relation to a person who has, or who has applied for, permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a PRA-regulated activity (within the meaning of that Act), the Financial Conduct Authority and the Prudential Regulation Authority;

(b)

in any other case, the Financial Conduct Authority.

Annotations

Textual amendments

F1: Word in reg. 7(1) omitted (22.12.2017) by virtue of The Payment Systems and Services and Electronic Money (Miscellaneous Amendments) Regulations 2017 (S.I. 2017/1173), regs. 1(2), 8(d)
F2: Words in reg. 7(1) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 3(b)
F3: Words in reg. 7(2)(a) substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 34 (with regs. 7(4), 9(1))
F4: Word in reg. 7(2)(a) inserted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 187(a)(aa), (i)
F5: Reg. 7(2)(b) omitted (1.4.2013) by virtue of The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 187(a)(bb), (i)
F6: Words in reg. 7(2) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 187(a)(cc), (i)
F7: Reg. 7(3) inserted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 187(a)(ii)

Commencement

I1: Reg. 7 in force at 9.4.2010, see reg. 1

Footnotes

f1: 2000 c.8.
f2: The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) specifies the kinds of activities which are regulated activities for the purposes of the Financial Services and Markets Act 2000. Section 19 of that Act prohibits persons who are not authorised or exempt from carrying on any regulated activity in the UK.

Notes on the whole SI

Textual amendments

F1: Word in Title omitted (22.12.2017) by virtue of The Payment Systems and Services and Electronic Money (Miscellaneous Amendments) Regulations 2017 (S.I. 2017/1173), reg. 8(a)