Chapter 3: Accountability of regulators FCA and PRA engagement Section 39: Reporting requirements
This section inserts new paragraph 11A into Schedule 1ZA of FSMA 2000, which provides HM Treasury with a power to direct the FCA to publish a report containing information about matters specified by HM Treasury.
	Subsection (2) of this section inserts new paragraph 11A(1) which enables HM Treasury to direct the FCA to publish information, subject to conditions.
	Paragraph 11A(2) sets the conditions under which HM Treasury can direct the FCA, relating to the necessity of information for scrutiny of the regulator and the availability of existing information.
	Paragraph 11A(3) requires the FCA to publish a report in line with the direction. Paragraph 11A(4) exempts information from this publication that it would be against the public interest to publish.
	Paragraph 11A(5) places conditions on the provision of information in a direction, in that a direction cannot require the FCA to report more than once a quarter, nor to publish information that is confidential for the purposes of Part 23 of FSMA 2000.
	Paragraphs 11A(6) and 11A(7) are self-explanatory.
	Paragraph 11A(8) is self-explanatory.
	Paragraph 11A(9) allows HM Treasury to vary or revoke directions under the power.
	Sub-section (3) inserts paragraph 21A into Schedule 1ZB to FSMA 2000 which sets out the same power to direct the regulator to publish a report containing information about matters specified by HM Treasury, but in relation to the PRA.