SCHEDULES
SCHEDULE 2

Prudential regulation of FCA investment firms
PART 2

Minor and consequential amendments
7
1
Section 167 (regulators' power to appoint investigators) is amended as follows.
2
In subsection (1)—
a
in paragraph (a), for “a recognised investment exchange or an authorised person or of” substitute “ a person to whom subsection (1A) applies or ”, and
b
in paragraph (c), for “a recognised investment exchange or an authorised person” substitute “ a person to whom subsection (1A) applies ”.
3
After subsection (1) insert—
1A
This subsection applies to the following persons—
a
a recognised investment exchange;
b
an authorised person;
c
a relevant parent undertaking of an FCA investment firm;
d
a person who provides a service to an FCA investment firm or to a relevant parent undertaking of such a firm.
4
For subsection (4) substitute—
4A
The power conferred by this section may be exercised in relation to a person who has at any time been an authorised person or a person described in subsection (1A)(c) or (d) but only in relation to—
a
business carried on at any time when the person was an authorised person or a person described in subsection (1A)(c) or (d), or
b
the ownership or control of the person at such a time.
4B
The power conferred by this section may be exercised in relation to a person who has at any time been an appointed representative but only in relation to business carried on at any time when the person was an appointed representative.
5
In subsection (5A), at the end insert—
d
in relation to a person who is, or has at any time been, a person described in subsection (1A)(c) or (d) who is not an authorised person, the FCA.
Sch. 2 para. 7 in force at 1.7.2021 by S.I. 2021/671, reg. 4(b)