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).