(This note is not part of the Regulations)

These Regulations amend the table in Part 1 of Schedule 1 to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (S.I. 2001/2188) ("the principal regulations"). As provided in regulations 9 and 12 of those regulations, the content of the table determines the persons to whom, and the purposes for which, it is permitted to disclose "confidential information" (as defined in section 348(2) of the Financial Services and Markets Act 2000 (c. 8) ("the Act")), including "confidential information" which is "single market directive information" within the meaning of regulation 2 of the principal regulations.

The words in the second column of the table beside "The Institute of Actuaries or the Faculty of Actuaries" are amended to read: "Their supervisory functions in relation to the exercise by an actuary of his professional duties, including the conduct of disciplinary proceedings and determining whether to institute or terminate such proceedings". This is to ensure that the scope of disclosure to the Institute or Faculty permitted under the principal regulations is as broad as is permitted under the various single market directives (as defined in paragraph 1 of Schedule 3 to the Act), for example, under the second indent of article 15, paragraph 5a of Council Directive 92/96/EEC.

The Regulations also insert a new entry at the end of the table, which refers to a person ("P") authorised by the Secretary of State for the purposes of 245B(1)(b) of the Companies Act 1985, and his functions as such.