Financial Services and Markets Act 2000

[F1 14 (1) The power conferred by section 168(5) (appointment of persons to carry out investigations in particular cases) is exercisable by the Bank. U.K.

(2) That power is exercisable if it appears to the Bank that there are circumstances suggesting that—

(a) a clearing house [F2 or a central securities depository] may be guilty of F3 ... an offence under prescribed regulations relating to money laundering;

(b) a [F4 clearing house [F2 or a central securities depository]] [F4 person] may have contravened a rule made by the Bank under this Part of this Act;

(c) a clearing house [F2 or a central securities depository] may have contravened the recognition requirements;

(d) a clearing house [F2 or a central securities depository] may have contravened any [F5 qualifying provision] that is specified, or of a description specified, for the purposes of this sub-paragraph by the Treasury by order;

(e) a clearing house [F2 or a central securities depository] may have breached the general prohibition.

F6 (f) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F7 [F8 (g) a person may be guilty of an offence under section 398(1), as applied by paragraph 30 of this Schedule;]

(h) a Tier 2 third country central counterparty may have contravened the requirements of the EMIR regulation.]

[F9 (i) an individual may not be a fit and proper person to perform functions in relation to an activity carried on by a relevant recognised body;

(j) an individual may have performed, or agreed to perform, a function in breach of a Part 18 prohibition order;

(k) a relevant recognised body may have failed to comply with section 309F(1);

(l) a relevant recognised body may have failed to comply with section 309G(1);

(m) a person in relation to whom the Bank has given approval under section 309G may not be a fit and proper person to perform the function to which that approval relates;

(n) a person may have performed a designated senior management function without approval under section 309G (see section 309U(3));

(o) a person may be guilty of misconduct for the purposes of section 309Z2.]

(3) In addition to the powers conferred by section 171, a person conducting an investigation under section 168(5) as a result of this paragraph is to have the powers conferred by sections 172 and 173 (and for this purpose the references in those sections to an investigator are to be read accordingly).]

Textual Amendments

F1 Sch. 17A inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 29(2), 122(3), Sch. 7 (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c), Sch. Pts. 2, 3; S.I. 2013/423, art. 3, Sch.

F2 Words in Sch. 17A para. 14(2)(a)-(e) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(39)(f)(i) (with regs. 7(4), 9(1))

F3 Words in Sch. 17A para. 14(2)(a) omitted (1.1.2024 at 1.00 a.m. for specified purposes, 1.8.2024 in so far as not already in force) by virtue of Financial Services and Markets Act 2023 (c. 29), ss. 50(9)(a), 86(3); S.I. 2023/1382, regs. 10(f), 11(b)

F4 Word in Sch. 17A para. 14(2)(b) substituted (29.6.2023 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(1)(e), Sch. 10 para. 20(3)(a)

F5 Words in Sch. 17A para. 14(2)(d) substituted (31.12.2020) by The Investment Exchanges, Clearing Houses and Central Securities Depositories (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/662), regs. 1(3), 13(3)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F6 Sch. 17A para. 14(2)(f) omitted (31.12.2020) by virtue of The Investment Exchanges, Clearing Houses and Central Securities Depositories (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/662), regs. 1(3), 13(3)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F7 Sch. 17A para. 14(2)(g)(h) inserted (31.12.2020) by The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2020 (S.I. 2020/646), regs. 1(3), 2(5)(c) (with savings in S.I. 2019/680, reg. 11 as amended by S.I. 2020/646, reg. 12)

F8 Sch. 17A para. 14(2)(g) substituted (1.1.2024 at 1.00 a.m. for specified purposes, 1.8.2024 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), ss. 50(9)(b), 86(3); S.I. 2023/1382, regs. 10(f), 11(b)

F9 Sch. 17A para. 14(2)(i)-(o) inserted (29.6.2023 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(1)(e), Sch. 10 para. 20(3)(b)