Power of FCA to require information from a person who is not authorised3
1
In this regulation and in regulation 4, a “non-authorised counterparty” is a person, other than an authorised person11 or a recognised body, who is a party to a financial collateral arrangement referred to in the second sub-paragraph of Article 3(2) of the CSD regulation.
2
Paragraph (3) applies where—
a
a non-authorised counterparty is subject to an obligation under the CSD regulation; or
b
it is necessary for the FCA to determine whether a person is a non-authorised counterparty.
3
The FCA may, by notice in writing, require the counterparty or person—
a
to provide specified information or information of a specified description; or
b
to produce specified documents or documents of a specified description,
so that it can verify whether the non-authorised counterparty has complied with the CSD regulation or whether the person is a non-authorised counterparty.
4
The information or documents must be provided or produced—
a
before the end of such reasonable period as may be specified;
b
at such place as may be specified.
5
This regulation applies only to information and documents reasonably required in connection with the exercise by the FCA of its functions under the CSD regulation.
6
The FCA may require any information provided under this regulation to be provided in such a form as it may reasonably require.
7
The FCA may require—
a
any information provided, whether in a document or otherwise, to be verified in such a manner, or
b
any document produced to be authenticated in such a manner,
as it may reasonably require.
8
9
In this regulation, “specified” means specified in the notice.