On 10 December 2024, the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2024 were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.

The Regulations amend the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 to rectify a drafting deficiency and widen the information sharing ‘gateways’ through which the Financial Conduct Authority (FCA) may disclose confidential information.

The changes made by the Regulation widen the scope for the FCA to share confidential information with legal regulators, with the aim of allowing for more effective regulation and supervision of claims management activity.