C1C11C12C13C15 Part XI Information Gathering and Investigations

Annotations:
Modifications etc. (not altering text)
C1

Pt. 11 modified (1.12.2001) by S.I. 2001/2657, arts. 1(1), 18(2) (which was revoked (8.10.2001) by S.I. 2001/3083, arts. 1(2), 23); S.I. 2001/3538, art. 2(1)

Pt. 11 modified (1.12.2001) by S.I. 2001/3083, arts. 1(2), 18(2)(4); S.I. 2001/3538, art. 2(1)

Pt. 11 extended (with modifications) (1.12.2001) by S.I. 2001/3646, arts. 1(1), 6-9

C12

Pt. 11 applied (with modifications) (11.2.2010) by The Cross-Border Payments in Euro Regulations 2010 (S.I. 2010/89), reg. 19, Sch. para. 2

Powers to gather information

C2C5C9C10C14165F7Regulators power to require information F1: authorised persons etc.

C31

F6Either regulator may, by notice in writing given to an authorised person, require him—

a

to provide specified information or information of a specified description; or

b

to produce specified documents or documents of a specified description.

C3C62

The information or documents must be provided or produced—

a

before the end of such reasonable period as may be specified; and

b

at such place as may be specified.

3

An officer who has written authorisation from the F9regulator to do so may require an authorised person without delay—

a

to provide the officer with specified information or information of a specified description; or

b

to produce to him specified documents or documents of a specified description.

4

This section applies only to information and documents reasonably required in connection with the exercise by F4either regulator of functions conferred on it by or under this Act.

C4C75

F3The regulator in question may require any information provided under this section to be provided in such form as it may reasonably require.

C4C86

F13The regulator in question may require—

a

any information provided, whether in a document or otherwise, to be verified in such manner, or

b

any document produced to be authenticated in such manner,

as it may reasonably require.

7

The powers conferred by subsections (1) and (3) may also be F11exercised—

a

by either regulator, to impose requirements on a person who is connected with an authorised person;

b

by the FCA, to impose requirements on an operator, trustee or depositary of a scheme recognised under section 270 or 272 who is not an authorised person;

c

by the FCA, to impose requirements on a recognised investment exchange;

d

by the FCA, to impose requirements on a person who is connected with a recognised investment exchange.

8

“Authorised person” includes a person who was at any time an authorised person but who has ceased to be an authorised person.

9

“Officer” means an officer of F5the regulator exercising the power and includes a member of F10that regulator's staff or an agent of F8that regulator.

10

“Specified” means—

a

in subsections (1) and (2), specified in the notice; and

b

in subsection (3), specified in the authorisation.

11

For the purposes of this section, a person is connected with F2another person (“A”) if he is or has at any relevant time been—

a

a member of A’s group;

b

a controller of A;

c

any other member of a partnership of which A is a member; or

d

in relation to A, a person mentioned in Part I of Schedule 15 F12(reading references in that Part to the authorised person as references to A).