PART 3Regulation of public offers and admissions to trading

Further powers of FCA

Appointment by FCA of persons to carry out investigations44

1

Paragraph (3) applies if it appears to the FCA that there are circumstances suggesting that—

a

there may have been a contravention of an applicable provision, or

b

a person who was at the material time a relevant officer of a person to whom an applicable provision has applied has been knowingly concerned in a contravention by that person of an applicable provision.

2

“Relevant officer” of a person means—

a

a director or other similar officer of the person, or

b

if the affairs of the person are managed by its members, a member of the person.

3

The FCA may appoint one or more competent persons to conduct an investigation on its behalf.

4

Part 11 of FSMA 2000 applies in relation to an investigation under paragraph (3) as if—

a

the investigator were appointed under section 167(1) of that Act;

b

references to the investigating authority in relation to the investigator were references to the FCA;

c

references to the offences mentioned in section 168 of that Act were to the offence under section 85 of that Act;

d

references to an authorised person were references to the person under investigation.

5

In this regulation “an applicable provision” means—

a

a provision of these Regulations, or

b

a provision of regulated market admission rules or of designated activity rules made by virtue of regulation 15 or 17.