Schedule 15: Information and Investigations: Connected Persons
842.Under section 165(7) the Authority may require information or documents from a person who is connected with an authorised person, including, in addition to those listed in the section itself, the persons related to an authorised person in any of the ways set out in this Schedule. These are:
employees and agents of the authorised person;
officers and managers if the authorised person is a body corporate, unincorporated association, building society or friendly society;
officers, managers and agents of the authorised person’s parent undertakings, if the authorised person is a body corporate; and
managers and members, if the authorised person is a partnership .
843.In a similar way, section 171(4) enables investigators appointed to undertake investigations under section 167 to require persons connected to the person under investigation to attend and answer questions or provide information or documents. Again, this includes persons related to the person under investigation in any of the ways set out above, plus persons who, at the time the investigation is concerned with, were partners, managers, employees, agents, appointed representatives, bankers, solicitors, accountants or actuaries of:
the person being investigated;
that person’s parent undertaking or subsidiary;
a fellow parent of a subsidiary of the person under investigation; or
a fellow subsidiary of a parent undertaking of that person.
844.The terms “subsidiary undertaking” and “parent undertaking” are defined in section 420.
