(This note is not part of the Regulations)
These Regulations specify the circumstances in which confidential information, within the meaning of the Financial Services and Markets Act 2000 (c. 8) ("the Act"), can be disclosed. Section 348 of the Act provides that - except as permitted by such regulations - confidential information must not be disclosed by a primary recipient, or by any person obtaining the information directly or indirectly from a primary recipient, without the consent of the person from whom the primary recipient obtained the information and (if different) the person to whom it relates. "Confidential information" is defined as information which -
(a) relates to the business or other affairs of any person; and
(b) was received by the primary recipient for the purposes of, or in the discharge of, any functions of the Financial Services Authority ("the FSA"), the competent authority for the purposes of Part VI of the Act (official listing - currently the FSA) or the Secre
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