PART 3Transitional provisions

CHAPTER 2Authorisation and regulation of 2006 Act authorised persons

Investigation and prosecution after 1st April 2019 in relation to conduct before that date55

1

This article applies for the purposes of—

a

an investigation on or after 1st April 2019 (“a relevant investigation”)—

i

to determine whether an offence was committed by a person before that date under Part 2 of the 2006 Act;

ii

of a complaint about the activities or professional conduct of a relevant person before that date;

iii

into the professional conduct of a relevant person before that date otherwise than as a result of a complaint, where the FCA is satisfied that the Regulator could reasonably have made a decision to carry out such an investigation under regulation 35(2) of the 2006 Regulations; and

b

the prosecution on or after 1st April 2019 of an offence committed before that date under Part 2 of the 2006 Act (“a relevant offence”).

2

The FCA may—

a

conduct any relevant investigation; or

b

institute and prosecute criminal proceedings in respect of any relevant offence.

3

Paragraphs (4) to (9) apply for the purposes of paragraph (2).

4

The following sections of the 2000 Act are to be read as if a reference to an authorised person included a person who was, at any time before 1st April 2019, a 2006 Act authorised person—

a

section 165 (regulators’ power to require information), except subsection (7);

b

section 166 (reports by skilled persons); and

c

section 16795 (appointment of persons to carry out general investigations).

5

Section 168 of the 2000 Act96 is to be read as if, in subsection (4), after paragraph (a) there were inserted—

ab

a person may be guilty of an offence under section 10, 11(1) or (2) of the Compensation Act 2006;

ac

a person may have contravened section 4(1) of the Compensation Act 2006 or failed to comply with a requirement made under section 8(4) of that Act;

6

In section 175 (information and documents: supplemental provisions), subsections (2), (2A) and (2B)97 have effect as if a reference to a document produced in response to a requirement imposed under Part 11 of the 2000 Act (“Part 11”) included a document given to the Regulator in compliance with a requirement made under—

a

regulation 33(1) (requirements for information under section 8(4) of the 2006 Act) of the 2006 Regulations; or

b

regulation 36(1) (breaches by authorised persons of condition: requirement to provide information etc) of the 2006 Regulations.

7

In section 177 (offences)—

a

subsection (3) is to be read as if the reference to an investigation being or likely to be conducted under Part 11 included a relevant investigation; and

b

subsections (1) and (4) are to be read as if the references to a requirement imposed under Part 11 included a requirement made under—

i

regulation 33(1) of the 2006 Regulations; or

ii

regulation 36(1) of the 2006 Regulations.

8

In section 398 (misleading FCA: residual cases) subsection (1A)(a) is to be read as if the reference to a requirement imposed by the 2000 Act included a requirement imposed under Part 11 (information gathering and investigations) as that Part applies with the modifications in paragraphs (4) to (7).

9

In section 400 (offences by bodies corporate etc) a reference to an offence under the 2000 Act includes an offence under section 177(3) or (4) as that section applies with the modifications in paragraph (7).