FCA document and information requirements: protected items (privilege) and banking confidentiality
Produced in partnership with Brown Rudnick LLP
FCA document and information requirements: protected items (privilege) and banking confidentiality

The following Financial Services practice note Produced in partnership with Brown Rudnick LLP provides comprehensive and up to date legal information covering:

  • FCA document and information requirements: protected items (privilege) and banking confidentiality
  • Information and document requirements
  • Information and documents that can be withheld
  • Material subject to banking confidentiality
  • Protected items
  • Category 1—Legal advice privilege
  • Category 2—Litigation privilege
  • The relevance of the distinction between Category 1 and Category 2
  • Communication
  • Does the communication have to be between a lawyer and client for Category 1?
  • More...

Lexis®PSL Financial Services FCA/PRA Enforcement Database: This incorporates detailed information on all substantive FCA and PRA Final Notices and, where available, Decision Notices from 2014 to 2020. The Database, available here, may be searched and filtered by rule breach, keyword, sector, date, seriousness, aggravating and mitigating factors, financial penalty, and other actions such as appeals.

Information and document requirements

Financial regulators (the regulators) (ie the Financial Conduct Authority (FCA) (previously the Financial Services Authority (FSA)) and the Prudential Regulation Authority (PRA) seek information and documents from those who they regulate (firms/approved persons) as part of the ongoing regulatory relationship. The regulators use the information to monitor the business of firms on an ongoing basis. This information is usually provided on a voluntary basis without the exercise of formal powers by the regulator.

The regulators can exercise a number of statutory powers against firms and individuals to require the production of documents and the provision of information without launching an investigation. Regulators can appoint investigators in certain specified circumstances. Investigators can exercise a number of more intrusive statutory powers to require certain people (both regulated and non-regulated) to attend to answer questions and to produce information and documents. The regulators and investigators exercise their statutory powers by issuing statutory requirements which compel the subject to comply under the force of law (a statutory requirement).

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