DEPP 7.1 Application and purpose

DEPP 7 applies when the FCA:

1. (1)

   has appointed an investigator at the request of an overseas regulator, under section 169(1)(b) (Assistance to overseas regulators)under section 131FA of the Act; and

2. (2)

   has directed, or is considering directing, the investigator, under section 169(7) or section 131FA of the Act, to permit a representative of the overseas regulator to attend, and take part in, any interview conducted for the purposes of the investigation.

In DEPP 7, a "requested interview" means any interview conducted for the purposes of an investigation under section 169(1)(b) or section 131FA of the Act in relation to which the FCA has given a direction under section 169(7) or section 131FA of the Act.

The purpose of DEPP 7 is to set out the FCA's statement of policy on the conduct of interviews to which a direction under section 169(7) or section 131FA has been given or the FCA is considering giving. The FCA is required to prepare and publish this statement of policy by section 169(9) and (11) and section 131FA of the Act. As required by section 169(10) and section 131FA of the Act, the Treasury has approved the statement of policy.

The FCA is keen to promote co-operation with overseas regulators. It views provision of assistance to overseas regulators as an essential part of discharging its general functions.