C9C8C12C13C14C17C21C20C24Part XXVII Offences
Pt. 27 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services Act 2012 (Consumer Credit) Order 2013 (S.I. 2013/1882), arts. 1(1), 3(12)
Pt. 27 modified (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 1 para. 23 (with reg. 7)
Pt. 27 applied (with modifications) (3.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Data Reporting Services Regulations 2017 (S.I. 2017/699), regs. 1(2)(a)(b), 38
Pt. 27 applied (with modifications) (27.2.2018) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2), 24
Pt. 27 applied (with modifications) (10.6.2019) by The Proxy Advisors (Shareholders Rights) Regulations 2019 (S.I. 2019/926), regs. 1, 20, 27
Pt. 27 applied (with modifications) (31.12.2020) by The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542), regs. 1, 38 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Pt. 27 applied (with modifications) (31.12.2020) by The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 77 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Pt. 27 applied (with modifications) (5.4.2024) by The Data Reporting Services Regulations 2024 (S.I. 2024/107), regs. 1(2), 24; S.I. 2023/1382, reg. 4(c)
Institution of proceedings
C1C2C3C4C6C7C10C11C15C16C18C21C20C19C22C23401 Proceedings for offences.
F31
In this section “offence” means—
a
an offence under this Act,
b
an offence under subordinate legislation made under this Act, or
c
an offence under Part 7 of the Financial Services Act 2012 (offences relating to financial services).
C52
Proceedings for an offence may be instituted in England and Wales only—
a
by the F4appropriate regulator or the Secretary of State; or
b
by or with the consent of the Director of Public Prosecutions.
C53
Proceedings for an offence may be instituted in Northern Ireland only—
a
by the F5appropriate regulator or the Secretary of State; or
b
by or with the consent of the Director of Public Prosecutions for Northern Ireland.
F13A
For the purposes of subsections (2)(a) and (3)(a), the PRA is the “appropriate regulator” in respect of each of the following offences—
a
an offence under section 55P(10) where the contravention is of a requirement imposed by the PRA;
b
an offence under section 56(4) where the prohibition order is made by the PRA;
c
an offence under section 177(3) where the investigation is being, or is likely to be, conducted on behalf of the PRA;
d
an offence under section 177(4) where the requirement is imposed by the PRA;
e
an offence under section 177(6) where the warrant is issued as a result of information on oath given by the PRA or a person appointed by the PRA to conduct an investigation on its behalf;
f
an offence under section 191F(1) where the notice should have been given to the PRA;
g
an offence under any of section 191F(2) to F8(4) and (5) to (7) where the notice, approval or information was given to or by the PRA;
h
an offence under section 366(3), unless the activity of effecting or carrying out long-term contracts of insurance is not to any extent a PRA-regulated activity;
i
an offence under section 398(1) where the information was given to the PRA.
F73AB
For the purposes of subsections (2)(a) and (3)(a), the Bank of England is the “appropriate regulator” in respect of an offence under section 191F(4A).
3B
For the purposes of subsections (2)(a) and (3)(a), the FCA is the “appropriate regulator” in respect of any other offence.
F64
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
C55
In exercising its power to institute proceedings for an offence, the F2appropriate regulator must comply with any conditions or restrictions imposed in writing by the Treasury.
C56
Conditions or restrictions may be imposed under subsection (5) in relation to—
a
proceedings generally; or
b
such proceedings, or categories of proceedings, as the Treasury may direct.
Pt. 27 applied (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2013 (S.I. 2013/1881), arts. 1(2)(6), 50(3)