F1Part 8AShort selling

Annotations:
Amendments (Textual)
F1

Pt. 8A inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 8, 26(2)(b)

Power to require information

131FAF2Investigations in support of F8overseas regulator

F41

The FCA may appoint one or more competent persons to investigate any matter if it is requested to do so by—

a

the competent authority of an EEA state acting in the exercise of its functions under the short selling regulation, as that regulation has effect in the European Union; or

b

an authority of a third country which is not an EEA state which is acting in the exercise of functions corresponding to those referred to in paragraph (a).

F52

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

Sections 170 to 177 (which relate to investigations) apply in relation to an investigator appointed under subsection (1) as they apply in relation to an investigator appointed under section 168(5).

4

The F3FCA may direct an investigator appointed under subsection (1) to permit a representative of F6the authority making the request under subsection (1) (“the requesting regulator”) to attend, and take part in, any interview conducted for the purposes of the investigation.

5

The F3FCA is not to give a direction under subsection (4) unless it is satisfied that any information obtained by the F7requesting regulator” as a result of the interview will be subject to safeguards equivalent to those contained in Part 23.

6

The F3FCA must prepare a statement of its policy with respect to the conduct of interviews in relation to which a direction under subsection (4) has been given.

7

The statement requires the approval of the Treasury.

8

If the Treasury approve the statement, the F3FCA must publish it.

9

No direction may be given under subsection (4) before the statement has been published.

10

The F3FCA may at any time alter or replace a statement issued under subsection (6), and subsections (7) and (8) apply to an altered statement or to a replacement statement.