Part XI Information Gathering and Investigations
Appointment of investigators
168 Appointment of persons to carry out investigations in particular cases.
(1)
Subsection (3) applies if it appears to an investigating authority that there are circumstances suggesting that—
(a)
a person may have contravened any regulation made under section 142; or
(b)
a person may be guilty of an offence under section 177, 191, 346 or 398(1) or under Schedule 4.
(2)
Subsection (3) also applies if it appears to an investigating authority that there are circumstances suggesting that—
(a)
an offence under section 24(1) or 397 or under Part V of the M1Criminal Justice Act 1993 may have been committed;
(b)
there may have been a breach of the general prohibition;
(c)
there may have been a contravention of section 21 or 238; or
(d)
market abuse may have taken place.
(3)
The investigating authority may appoint one or more competent persons to conduct an investigation on its behalf.
(4)
Subsection (5) applies if it appears to the Authority that there are circumstances suggesting that—
(a)
a person may have contravened section 20;
(b)
a person may be guilty of an offence under prescribed regulations relating to money laundering;
F1(ba)
a person may be guilty of an offence under Schedule 7 to the Counter-Terrorism Act 2008 (terrorist financing or money laundering);
(c)
F2a person may have contravened a rule made by the Authority;
(d)
an individual may not be a fit and proper person to perform functions in relation to a regulated activity carried on by an authorised or exempt person;
(e)
an individual may have performed or agreed to perform a function in breach of a prohibition order;
(f)
an authorised or exempt person may have failed to comply with section 56(6);
(g)
an authorised person may have failed to comply with section 59(1) or (2);
(h)
a person in relation to whom the Authority has given its approval under section 59 may not be a fit and proper person to perform the function to which that approval relates; F3. . .
F4(ha)
a person may have performed a controlled function without approval for the purposes of section 63A;
(i)
a person may be guilty of misconduct for the purposes of section 66 F5; or
(j)
a person may have contravened any provision made by or under this Act for the purpose of implementing the markets in financial instruments directive or by any directly applicable Community regulation made under that directive.
(5)
The Authority may appoint one or more competent persons to conduct an investigation on its behalf.
(6)
“Investigating authority” means the Authority or the Secretary of State.