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.