SCHEDULE 12 Amendments of Parts 11 and 23 of FSMA 2000 | Part 2 | 3 Of FSMA 2000: Public Record, Disclosure Of Information And Co-Operation | Financial Services Act 2012 C21

Part 2 Part 23 of FSMA 2000: Public Record, Disclosure of Information and Co-operation

Financial Services Act 2012 (2012 c 21) | Legislation

Part 2 Part 23 of FSMA 2000: Public Record, Disclosure of Information and Co-operation

(1) Section 347 (record of authorised persons) is amended as follows.

(2) In subsections (1) to (6), for “Authority”, in each place, substitute “FCA”.

(3) Omit subsection (1)(f).

(4) In subsection (2), in paragraph (e)—

(a) omit “or recognised clearing house,”, and

(b) omit “or clearing house”.

(5) In subsection (8), for “Authority” substitute “FCA or the PRA”.

After section 347 insert—

“347A Duty of PRA to disclose information relevant to the record

(1) The PRA must, for the purpose of assisting the FCA to comply with its duty under section 347—

(a) notify the FCA if the information included in the record as required under section 347(2)(a) appears to the PRA to be incomplete or inaccurate,

(b) if it makes a prohibition order relating to an individual, provide the FCA with information falling within section 347(2)(f) in relation to that order,

(c) where it is the appropriate regulator in relation to an approved person, provide the FCA with information falling within section 347(2)(g) in relation to that approved person, and

(d) where the FCA has notified the PRA that it