SCHEDULES

SCHEDULE 12Amendments of Parts 11 and 23 of FSMA 2000

PART 1Part 11 of FSMA 2000: information gathering and investigations

I1I28

1

Section 168 (appointment of investigator in specific cases) is amended as follows.

2

In subsection (1)—

a

omit paragraph (a), and

b

in paragraph (b), for “191” substitute “ 191F ”.

3

In subsection (2)—

a

in paragraph (a), for “or 397” substitute “ or under Part 7 of the Financial Services Act 2012 ”, and

b

after paragraph (b) insert—

ba

an authorised person may have contravened section 20 in relation to a credit-related regulated activity;

4

In subsection (4)—

a

in the opening words, for “the Authority” substitute “ an investigating authority ”,

b

in paragraph (c), for “Authority” substitute “ investigating authority ”,

c

after that paragraph insert—

ca

a recognised investment exchange may have contravened the recognition requirements (within the meaning of Part 18);

d

in paragraph (f), for “an authorised or exempt person” substitute “ a person ”,

e

in paragraph (h), for “the Authority” substitute “ a regulator ”,

f

in paragraph (j), omit the words from “or by any” to the end, and

g

for paragraph (k) substitute—

k

a person may have contravened a qualifying EU provision that is specified, or of a description specified, for the purposes of this subsection by the Treasury by order.

5

In subsection (5), for “Authority” substitute “ investigating authority ”.

6

For subsection (6) substitute—

6

Investigating authority” means—

a

in subsections (1) to (3), the FCA, the PRA or the Secretary of State;

b

in subsections (4) and (5), the FCA or the PRA.