Financial Services and Markets Act 2000 Explanatory Notes

Section 174: Admissibility of statements made to investigators

337.A statement made by a person in compliance with a requirement imposed by an investigator under this Part is generally admissible in any proceedings.  But it may not be adduced against the person who made the statement, or questions relating to it asked, by the prosecution in criminal proceedings other than for the charges listed in subsection (3), nor by the Authority in proceedings before the Tribunal to determine whether a penalty should be imposed for, or a public statement made in respect of, market abuse.  It may, however, be adduced, or a question relating to it may be asked, by the person himself, or by those acting on his behalf.  It can be used by the prosecution or the Authority in cases against another person, or in cases against that person where the charge is one of those listed in subsection (3).  All of the charges mentioned in that subsection relate to the provision of false information.

338.The section is necessary to take into account the judgment by the European Court of Human Rights in the Saunders case ((1997) 23 E.H.H.R. 313).

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