http://www.legislation.gov.uk/ukpga/2000/8/section/169/2001-06-21Financial Services and Markets Act 2000An Act to make provision about the regulation of financial services and markets; to provide for the transfer of certain statutory functions relating to building societies, friendly societies, industrial and provident societies and certain other mutual societies; and for connected purposes.2000-06-15texttext/xmlenStatute Law Database2026-04-072001-06-18 Part XI Information Gathering and Investigations Assistance to overseas regulators Investigations <Abbreviation Expansion="et cetera" xml:lang="la">etc.</Abbreviation> in support of overseas regulator.1691At the request of an overseas regulator, the Authority may—aexercise the power conferred by section 165; orbappoint one or more competent persons to investigate any matter.2An investigator has the same powers as an investigator appointed under section 168(3) (as a result of subsection (1) of that section).3If the request has been made by a competent authority in pursuance of any Community obligation the Authority must, in deciding whether or not to exercise its investigative power, consider whether its exercise is necessary to comply with any such obligation.4In deciding whether or not to exercise its investigative power, the Authority may take into account in particular—awhether in the country or territory of the overseas regulator concerned, corresponding assistance would be given to a United Kingdom regulatory authority;bwhether the case concerns the breach of a law, or other requirement, which has no close parallel in the United Kingdom or involves the assertion of a jurisdiction not recognised by the United Kingdom;cthe seriousness of the case and its importance to persons in the United Kingdom;dwhether it is otherwise appropriate in the public interest to give the assistance sought.5The Authority may decide that it will not exercise its investigative power unless the overseas regulator undertakes to make such contribution towards the cost of its exercise as the Authority considers appropriate.6Subsections (4) and (5) do not apply if the Authority considers that the exercise of its investigative power is necessary to comply with a Community obligation.7If the Authority has appointed an investigator in response to a request from an overseas regulator, it may direct the investigator to permit a representative of that regulator to attend, and take part in, any interview conducted for the purposes of the investigation.8A direction under subsection (7) is not to be given unless the Authority is satisfied that any information obtained by an overseas regulator as a result of the interview will be subject to safeguards equivalent to those contained in Part XXIII.9The Authority must prepare a statement of its policy with respect to the conduct of interviews in relation to which a direction under subsection (7) has been given.10The statement requires the approval of the Treasury.11If the Treasury approve the statement, the Authority must publish it.12No direction may be given under subsection (7) before the statement has been published.13“Overseas regulator” has the same meaning as in section 195.14“Investigative power” means one of the powers mentioned in subsection (1).15“Investigator” means a person appointed under subsection (1)(b).S. 169 wholly in force at 3.9.2001; s. 169 not in force at Royal Assent see s. 431(2); s. 169 in force for specified purposes at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; s. 169 in force in so far as not already in force at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2Pt. XI (ss. 165-177) 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. XI (165-177) modified (1.12.2001) by S.I. 2001/3083, arts. 1(2), 18(2)(4); S.I. 2001/3538, art. 2(1)Pt. XI (ss. 165-177) extended (with modifications) (1.12.2001) by S.I. 2001/3646, arts. 1(1), 6-9