2The FCA views co-operation with its overseas counterparts as an essential part of its regulatory functions. Section 354A of the Act imposes a duty on the FCA to take such steps as it considers appropriate to co-operate with others who exercise functions similar to its own. This duty extends to authorities in the UK and overseas. In fulfilling this duty the FCA may share information which it is not prevented from disclosing, including information obtained in the course of the FCA's own investigations, or exercise certain of its powers under Part XI of the Act. Further details of the FCA's powers to assist overseas regulators are provided at EG 3.7.1 – 3.7.4 (Investigations to assist overseas authorities), EG 3.8.1 – 3.8.4 (Information requests and investigations to assist overseas3 regulators in relation to short selling), 3EG 4.7.1 (Use of statutory powers to require the production of documents, the provision of information or the answering of questions), EG 4.11.9 – 4.11.11 (Interviews in response to a request from an overseas regulator3), and EG 8.6.1 – 8.6.8 (Exercising the power under section 55Q to vary or cancel a firm’s Part 4A permission, or to impose requirements on a firm in support of an overseas regulator: the FCA's policy). The FCA's statement of policy in relation to interviews which representatives of overseas regulators 3attend and participate in is set out in DEPP 7.1
Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.