New objectives and regulatory principles Regulator engagement with HM Treasury, external stakeholders, and Parliament Regulators’ relationship with HM Treasury Power for HM Treasury to direct the regulator to report on performance
Paragraph 11(1) of Schedule 1ZA to FSMA 2000 requires the FCA to make a report to HM Treasury annually. Paragraph 11(1) of Schedule 1ZA details the information which the FCA must include in the annual report. Paragraph 11(1)(j) of Schedule 1ZA provides a power for HM Treasury to specify information which the FCA must include in the annual report.
	Paragraph 19(1) of Schedule 1ZB to FSMA 2000 requires the PRA to make a report to the Chancellor annually. Paragraphs 19(1) and 19(1A) of Schedule 1ZA detail the information which the PRA must include in the annual report. Paragraph 19(1)(g) of Schedule 1ZB provides a power for HM Treasury to specify information which the PRA must include in the annual report.
	Paragraph 33 of Schedule 17A to FSMA 2000 applies paragraph 19 of Schedule 1ZB to FSMA 2000 to the Bank of England when acting as a regulator for CCPs and CSDs.
	Paragraph 7(1) of Schedule 4 to FSBRA requires the PSR to make a report to the FCA annually. Paragraph 7(2) of Schedule 4 details the information which must be included in the annual report.
	The Act provides a new power to HM Treasury, in addition its power to direct the FCA, PRA and the Bank in its function as a regulator for CCPs and CSDs to include specified information in their annual reports. The new power, in paragraph 11A of Schedule 1ZA, paragraph 21A of Schedule 1ZB to FSMA 2000 and paragraph 7A of Schedule 4 to FSBRA permits HM Treasury to direct the FCA, PRA, Bank and PSR to report on such matters as specified by HM Treasury where the information is reasonably necessary for the purpose of reviewing and scrutinising the discharge of the regulators’ functions and only where other information available is not sufficient.
	The new provisions for each of the regulators state that a direction by HM Treasury may not require the publication of information that is confidential information for the purposes of Part 23 of FSMA. "Confidential information" is defined in section 348(2) of FSMA 2000 and section 91(2) of FSBRA.