(1) The Treasury may make regulations permitting the disclosure of any information, or of information of a prescribed kind—
(a) by prescribed persons for the purpose of assisting or enabling them to discharge prescribed functions under this Act or any rules or regulations made under it;
(b) by prescribed persons, or persons of a prescribed description, to the [FCA or the PRA] for the purpose of assisting or enabling the [either of them] to discharge prescribed functions;
[(c) . . .].
(2) Regulations under this section may not make any provision in relation to the disclosure of confidential information by primary recipients or
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You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
Who is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business partner and
Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
For guidance on the basic features of the doctrine of estoppel and the different classifications it has been subject to, see Practice Note: Estoppel—what, when and how to plead and related content.Promissory estoppel—what is it?Where A has, by words or conduct, made to B a clear and unequivocal
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