IDG51520 - Information disclosure gateways with other government departments: Financial Conduct Authority and the Prudential Regulation Authority: information held by HMRC in connection with the exercise of former HM Customs and Excise functions

Information held by HMRC in the course of its functions under the Customs and Excise Management Act 1979 (CEMA) or the Value Added Tax Act (VATA) may be disclosed to the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) for one of the conferred functions listed in schedule 15 of the Enterprise Act 2002, this includes where this is needed for the purpose of the statutory functions of the FCA and PRA set out in the Financial Services and Markets Act 2000 (FSMA).

You must conduct due dilligence to ensure the function the FCA or PRA are requesting the information for is clear and that it has a statutory footing in legislation, this means you must ask for the following;

• clear reasons behind of the purpose of the disclosure request
• what functions the request is for the purpose of and what legislation this function is underpinned by.

The relevant legislative gateway is Section 241 of the Enterprise Act 2002 with the conferred functions listed in schedule 15 of the Enterprise Act 2002.

Further guidance

For further guidance and assistance please contact your Security & Information Business Partner in the first instance.