GEN 8.12.4

When an Authorised Person or Recognised Body appoints a Skilled Person, the Authorised Person or Recognised Body must, in the contract with the Skilled Person:

(a) require and permit the Skilled Person to co-operate with the Regulator in relation to the Authorised Person or Recognised Body and to communicate to the Regulator information on, or his opinion on, matters of which he has, or had, become aware in his capacity as a Skilled Person reporting on the Authorised Person or Recognised Body in the following circumstances:
(i) the Skilled Person reasonably believes that, as regards the Authorised Person or Recognised Body concerned:
(A) there is or has been, or may be or may have been, a Contravention of any relevant requirement that applies to the Authorised Person or Recognised Body concerned; and
(B) that the Contravention may be of material significance to the Regulator in determining whether to exercise, in relation to the Authorised Person or Recognised Body concerned, any powers conferred on the Regulator under any provision of the FSMR;
(ii) the Skilled Person reasonably believes that the information on, or his opinion on, those matters may be of material significance to the Regulator in determining whether the Authorised Person or Recognised Body concerned satisfies and will continue to satisfy the fit and proper requirements; or
(iii) the Skilled Person reasonably believes that the Authorised Person is not, may not be, or may cease to be, a going concern;
(b) require the Skilled Person to prepare a report within the time specified by the Regulator; and
(c) waive any duty of confidentiality owed by the Skilled Person to the Authorised Person or Recognised Body which might limit the provision of information or opinion by that Skilled Person to the Regulator in accordance with (a) or (b).