EG 3.8A Information requests and entry of premises under warrant to assist EEA regulators in relation to the Market Abuse Regulation or the auction regulation

EG 3.8A.1

1The FCA may use its section 122B power to require information and documents from natural or legal persons to support both its supervisory and its enforcement functions.

EG 3.8A.2

The FCA's power to require information to assist EEA regulators in respect of the Market Abuse Regulation or any directly applicable EU regulation made under the Market Abuse Regulation or the auction regulation is contained in section 122B(6) of the Act. The section provides that at the request of an EEA regulator, the FCA may use its power under section 122B to require the production of information.

[Note: see Regulation 6 and Schedule 1 to the RAP Regulations in relation to the auction regulation]

EG 3.8A.3

Section 122B(7) of the Act states that the FCA must, in deciding whether or not to exercise its power to require information, consider whether the exercise of that power is necessary to comply with the Market Abuse Regulation or any directly applicable EU regulation made under the Market Abuse Regulation or the auction regulation.

EG 3.8A.4

The FCA may give information under 122D(1) or 176(1) (Entry of premises under warrant) at the request of an EEA regulator where the regulator makes the request in the exercise of its functions under the Market Abuse Regulation. Section 122D(11) of the Act states that the FCA must, in deciding whether or not to exercise it powers of entry of premises under warrant, consider whether the exercise of that power is necessary for the purpose of the exercise by it of its obligations under the Market Abuse Regulation or any directly applicable EU regulation made under the Market Abuse Regulation or the auction regulation.