Prudential Regulation Authority Rulebook

4.1

Where a firm is granted a waiver by the PRA permitting the firm not to disclose information otherwise required to be disclosed pursuant to 3.3(1) to (4) and 3.4 in its SFCR, the firm must make a statement to this effect in its SFCR and state whether the non-disclosure is permitted because:

1. (1) the disclosure of that information would enable competitors of the firm to gain a significant, undue advantage; or
2. (2) the firm has obligations to policyholders or other counterparty relationships which bind the firm to secrecy or confidentiality.

[Note: Art. 53(1) and Art. 53(2) of the Solvency II Directive]

4.2

A firm shall notify the PRA as soon as the reason for any non-disclosure, which is the subject of a waiver, as provided for in 4.1, ceases to exist.