Regulation 12 Amendments to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001^f1 are amended as follows.

In regulation 2 (interpretation), after the definition of “prescribed disciplinary proceedings”, insert—

• ““PRA rules” means the rules made by the PRA under the Act as they have effect from time to time;”.

After regulation 10C insert—

“Disclosure of information in order to publish a stress test in relation to insurance undertakings and reinsurance undertakings

10D.

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.”.

After regulation 12C insert—

“Disclosure of information in order to publish a stress test in relation to insurance undertakings and reinsurance undertakings

12D.

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.”.