C1C2C3C4C5 Part XI Information Gathering and Investigations
Pt. 11 applied (with modifications) (1.5.2009 for certain purposes and 1.11.2009 otherwise) by The Payment Services Regulations 2009 (S.I. 2009/209), regs. 1(2), 95, Sch. 5 para. 3 (with reg. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 155(6)(c) (with Sch. 2 para. 156); and (26.6.2017) by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692), reg. 1(2), Sch. 7 para. 24(9) (with regs. 8, 15))
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
Pt. 11 applied (with modifications) (30.4.2011) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 62, Sch. 3 para. 3 (with reg. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(c); and (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(4), 18(4)(b); and (10.1.2020) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (S.I. 2019/1511), regs. 1(2), 19 and (31.12.2020) by S.I. 2018/1201, reg. 1(3), Sch. 2 para. 21(3)(a)-(c) (with reg. 4, Sch. 3 Pt. 1) (with further transitional provisions in Sch. 3 Pt. 1A as inserted by S.I. 2019/405, regs. 1, 10 and as amended by S.I. 2019/1010, regs. 1(3), 7; S.I. 2019/1212, regs. 1(2), 7; and S.I. 2020/56, regs. 1, 8))
Pt. 11 applied (with modifications) (15.1.2013) by The Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012 (S.I. 2012/3122), reg. 1, Sch. para. 2 (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 248(6)(b))
Powers to gather information
165AF1F2PRA's power to require information: financial stability
1
The F3PRA may, by notice in writing given to a person to whom this section applies, require the person—
a
to provide specified information or information of a specified description; or
b
to produce specified documents or documents of a specified description.
2
This section applies to—
a
a person who has a legal or beneficial interest in any of the assets of a relevant investment fund;
b
a person who is responsible for the management of a relevant investment fund;
c
a person (a “service provider”) who provides any service to an authorised person;
d
a person prescribed by an order made by the Treasury or any person of a description prescribed by such an order (and see also section 165C);
e
a person who is connected with a person to whom this section applies as a result of any of the above paragraphs.
3
This section applies only to information and documents that the F3PRA considers are, or might be, relevant to the stability of one or more aspects of the UK financial system.
4
A notice may be given to a service provider, or to a person who is connected with a service provider, only if the F3PRA considers that—
a
the service or the way in which it (or any part of it) is provided, or
b
any failure to provide the service (or any part of it),
poses, or would be likely to pose, a serious threat to the stability of the UK financial system.
5
Information or documents required under this section 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.
6
The F3PRA may require any information provided under this section to be provided in such form as it may reasonably require.
7
The F3PRA may require—
a
any information provided, whether in a document or otherwise, to be verified in such manner as it may reasonably require; or
b
any document produced to be authenticated in such manner as it may reasonably require.
8
In this section—
“management” includes any of the activities listed in Annex II to the UCITS directive;
“relevant investment fund” means an investment fund whose assets consist of or include financial instruments which—
- a
are traded in the United Kingdom; or
- b
were issued by a body incorporated in the United Kingdom;
- a
“service” includes facility;
“specified” means specified in the notice.
9
For the purposes of the definition of “relevant investment fund”—
a
arrangements may constitute an investment fund even if there is only one person participating in the arrangements; and
b
the reference to financial instruments has the meaning given by Article 4.1(17) of the markets in financial instruments directive.
10
For the purposes of this section a person is connected with another person (“A”) if the person 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 1 of Schedule 15 (reading references in that Part to the authorised person as references to A).
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