Related provisions for EG 4.10.2
1 - 20 of 49 items.
1The FCA's power to conduct investigations to assist overseas regulators2 in respect of the short selling regulation is contained in section 131FA of the Act. The section provides that at the request of an overseas regulator2 or ESMA, the FCA may either use its power under section 131E to require the production of information, or appoint a person to investigate any matter.
1The regulatory powers which the DRS Regulations provide to the FCA include:(1) the power to require information and appoint investigators;(2) powers of entry and inspection;(3) the power of public censure;(4) the power to impose financial penalties;(5) the power to impose a limitation or other restrictions;(6) the power to apply for an injunction;(7) the power to require restitution; and(8) the power to prosecute unauthorised providers.
1The regulatory powers which the Packaged Retail and Insurance-based Investment Products Regulations provide to the FCA include:(1) the power to appoint investigators and require information;(2) powers of entry and inspection;(3) the power of public censure;(4) the power to impose financial penalties;(5) the power to impose a limitation, restriction or requirement; (6) the power to apply for an injunction or restitution order;(7) the power to require restitution; and(8) the power
1The Electronic Money Regulations apply section 169 of the Act which requires the FCA to publish a statement of policy on the conduct of certain interviews in response to requests from overseas regulators. For the purposes of the Electronic Money Regulations the FCA will follow the procedures described in DEPP 7.
If the FCA3 is considering asking for the information specified in SUP 5.5.2 G it will take into consideration the cost of the skilled person complying with the request, and the benefit that the FCA3 may derive from the information. For example, in most cases, the FCA3 will not need to request a skilled person to give it source data, documents and working papers. However, the FCA3 may do so when it reasonably believes that this information will be relevant to any investigation
If the FCA3 considers it appropriate, it may request the firm to give it a copy of the draft contract required by SUP 5.5.1 R4 before it is made with the skilled person. The FCA3 will inform the firm of any matters that it considers require further clarification or discussion before the contract is finalised.4444
Before making a decision to grant the application or give a warning notice, the FCA may ask the firm for more information about the FCAcandidate. If it does this, the three-month period in which the FCA must determine a completed application:(1) will stop on the day the FCA requests the information; and(2) will start running again on the day on which the FCA finally receives all the requested information.
1As delays in the provision of information and/or documents can have a significant impact on the efficient progression of an investigation, the FCA expects persons to respond to information and document requests in a timely manner to appropriate deadlines. When an investigation is complex (and the timetable allows), the FCA may decide to issue an information or document
requirement in draft, allowing a specified period (of usually no more than three working
1The FCA may use its section 122A power to require information and documents from an issuer, a person discharging managerial responsibilities or a person closely associated with a person discharging managerial responsibilities to support its supervisory and its enforcement functions, including those under the Market Abuse Regulation2.
All compulsory interviews will
be tape-recorded. The method of recording will be decided on and arranged
by the FCA's3 investigator.
Costs will be addressed similarly to that set out in the preceding paragraph.
The FCA3 will
not provide the overseas regulator4 with transcripts of the tapes
of interviews unless specifically agreed to, but copies of the tapes will
normally be provided where requested. The interviewee will be provided with
a copy of tapes of the interview but will
6The decision by the FCA5 to require the collection or updating of information by a skilled person under section 166A of the Act (Appointment of skilled person to collect and update information) will be prompted where the FCA5 considers there has been a breach of a requirement by a firm to collect, and keep up to date, information of a description specified in the FCA's5rules.
The FCA4 may ask a firm to provide it with information at the request of or on behalf of other regulators to enable them to discharge their functions properly. Those regulators may include overseas regulators or the Takeover Panel. The FCA4 may also, without notifying a firm, pass on to those regulators information which it already has in its possession. The FCA's4 disclosure of information to other regulators is subject to the obligation described in SUP 2.2.4 G (Confidentiality
(1) If a firm is subject to the complaints rules in DISP, the FCA24 may request confirmation from the firm that there are no unresolved, unsatisfied or undischarged complaints against the firm from a customer of the firm.24(2) If there are unresolved or undischarged complaints against a firm from a customer of the firm, the FCA24 may request confirmation, as appropriate, of the steps (if any) which have been taken under the firm's complaints procedures and the amount of compensation
1The FCA's power to conduct investigations to assist overseas authorities is contained in section 169 of the Act. The section provides that at the request of an overseas regulator, the FCA may use its power under section 165 to require the production of documents or the provision of information under section 165 or to appoint a person to investigate any matter.