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Status: You are viewing the version of the handbook as on 2005-06-30.

ENF 15.3 The FSA's power to prosecute criminal offences

ENF 15.3.1G

The FSA's power to prosecute criminal offences is set out in sections 401 (of the Act (Proceedings for Offences) and 402 (Power to prohibit the carrying on of Consumer Credit Act business) of the Act.

ENF 15.3.2G

Under section 401 of the Act:

  1. (1)

    proceedings for an offence under the Act, or subordinate legislation made under the Act, may be instituted in England and Wales only:

    1. (a)

      by the FSA or the Secretary of State; or

    2. (b)

      by or with the consent of the Director of Public Prosecutions;

  2. (2)

    proceedings for an offence under the Act, or subordinate legislation made under the Act, may be instituted in Northern Ireland only:

    1. (a)

      by the FSA or the Secretary of State; or

    2. (b)

      by or with the consent of the Director of Public Prosecutions for Northern Ireland; and

  3. (3)

    except in Scotland, proceedings for an offence under section 203 (Power to prohibit the carrying on of Consumer Credit Act business) may also be instituted by the Director General of Fair Trading.

ENF 15.3.3G

Under section 402 of the Act the FSA may, except in Scotland, institute proceedings for an offence under:

  1. (1)

    Part V of the Criminal Justice Act 1993 (Insider dealing); and

  2. (2)

    Prescribed regulations relating to money laundering.

ENF 15.3.4G

The FSA does not have power to prosecute the offences referred to in ENF 15.3.2 G and ENF 15.3.3 G in Scotland. Public prosecution of these offences in Scotland is the responsibility of the Crown Office.