Part XIInformation Gathering and Investigations

Appointment of investigators

168Appointment of persons to carry out investigations in particular cases

1

Subsection (3) applies if it appears to an investigating authority that there are circumstances suggesting that—

a

a person may have contravened any regulation made under section 142; or

b

a person may be guilty of an offence under section 177, 191, 346 or 398(1) or under Schedule 4.

2

Subsection (3) also applies if it appears to an investigating authority that there are circumstances suggesting that—

a

an offence under section 24(1) or 397 or under Part V of the [1993 c. 36.] Criminal Justice Act 1993 may have been committed;

b

there may have been a breach of the general prohibition;

c

there may have been a contravention of section 21 or 238; or

d

market abuse may have taken place.

3

The investigating authority may appoint one or more competent persons to conduct an investigation on its behalf.

4

Subsection (5) applies if it appears to the Authority that there are circumstances suggesting that—

a

a person may have contravened section 20;

b

a person may be guilty of an offence under prescribed regulations relating to money laundering;

c

an authorised person may have contravened a rule made by the Authority;

d

an individual may not be a fit and proper person to perform functions in relation to a regulated activity carried on by an authorised or exempt person;

e

an individual may have performed or agreed to perform a function in breach of a prohibition order;

f

an authorised or exempt person may have failed to comply with section 56(6);

g

an authorised person may have failed to comply with section 59(1) or (2);

h

a person in relation to whom the Authority has given its approval under section 59 may not be a fit and proper person to perform the function to which that approval relates; or

i

a person may be guilty of misconduct for the purposes of section 66.

5

The Authority may appoint one or more competent persons to conduct an investigation on its behalf.

6

“Investigating authority” means the Authority or the Secretary of State.