Part VIIIPenalties for Market Abuse

Miscellaneous

128Suspension of investigations

(1)

If the Authority considers it desirable or expedient because of the exercise or possible exercise of a power relating to market abuse, it may direct a recognised investment exchange or recognised clearing house—

(a)

to terminate, suspend or limit the scope of any inquiry which the exchange or clearing house is conducting under its rules; or

(b)

not to conduct an inquiry which the exchange or clearing house proposes to conduct under its rules.

(2)

A direction under this section—

(a)

must be given to the exchange or clearing house concerned by notice in writing; and

(b)

is enforceable, on the application of the Authority, by injunction or, in Scotland, by an order under section 45 of the M1Court of Session Act 1988.

(3)

The Authority’s powers relating to market abuse are its powers—

(a)

to impose penalties under section 123; or

(b)

to appoint a person to conduct an investigation under section 168 in a case falling within subsection (2)(d) of that section.