Confidential information and privilege


Within the legal constraints that apply, the PRA may pass on to a skilled person any information which it considers relevant to the skilled person’s function. A skilled person, being a primary recipient under section 348 FSMA (Restrictions on disclosure of confidential information by PRA), is bound by the confidentiality provisions in Part XXIII FSMA (Public record, disclosure of information and co-operation) as regards confidential information the skilled person receives from the PRA or directly from a firm or other person.


A skilled person may not pass on confidential information without lawful authority, for example, where an exception applies under the FSMA (Disclosure of Confidential Information) Regulations 2001 (SI 2001/2188) or with the consent of the person from whom that information was received and (if different) the person to whom the information relates. The PRA will indicate to a skilled person if there is any matter which cannot be discussed with the firm.