97. Appointment by FCA of persons to carry out investigations | Better Regulation

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Financial Services and Markets Act 2000 (c. 8) (FSMA 2000)Introductory Text Part I The Regulator (ss. 1-18) [Substituted with new Part IA]1. The Financial Services Authority [Substituted with new Part IA]The Authority's general duties (s. 2) [Substituted with new Part IA]2. The Authority's general duties [Substituted with new Part IA]The regulatory objectives (ss. 3-6) [Substituted with new Part IA]3. Market confidence [Substituted with new Part IA]3A. Financial stability [Substituted with new Part IA]4. Public awareness 5. The protection of consumers [Substituted with new Part IA]6. The reduction of financial crime [Substituted with new Part IA]Enhancing public understanding of financial matters etc (s. 6A) [Substituted with new Part IA]6A. Enhancing public understanding of financial matters etc [Substituted with new Part IA]Corporate governance (s. 7) [Substituted with new Part IA]7. Duty of Authority to follow principles of good governance [Substituted with new Part IA]Arrangements for consulting practitioners and consumers (ss. 8-11) [Substituted with new Part IA]8. The Authority's general duty to consult [Substituted with new Part IA]9. The Practitioner Panel [Substituted with new Part IA]10. The Consumer Panel [Substituted with new Part IA]11. Duty to consider representations by the Panels [Substituted with new Part IA]Reviews (ss. 12-13) [Substituted with new Part IA]12. Reviews [Substituted with new Part IA]13. Right to obtain documents and information [Substituted with new Part IA]Inquiries (ss. 14-18) [Substituted with new Part IA]14. Cases in which the Treasury may arrange independent inquiries [Substituted with new Part IA]15. Power to appoint person to hold an inquiry [Substituted with new Part IA]16. Powers of appointed person and procedure [Substituted with new Part IA]17. Conclusion of inquiry [Substituted with new Part IA]18. Obstruction and contempt [Substituted with new Part IA]Part IA The Regulators (ss. 1A-3T)Chapter 1 The Financial Conduct Authority (ss. 1A-1T)The Financial Conduct Authority (s. 1A)1A. The Financial Conduct Authority The FCA's general duties (ss. 1B-1E)1B. The FCA's general duties 1C. The consumer protection objective 1D. The integrity objective 1E. The competition objective 1EB. Competitiveness and growth objective Interpretation of terms used in relation to FCA's general duties (ss. 1F-1I)1F. Meaning of "relevant markets" in strategic objective 1G. Meaning of "consumer"1H. Further interpretative provisions for sections 1B to 1G 1I. Meaning of "the UK financial system"Modifications applying if core activity not regulated by PRA (s. 1IA)1IA. Modifications applying if core activity not regulated by PRA Power to amend objectives (s. 1J)1J. Power to amend objectives Recommendations (ss. 1JA)1JA. Recommendations by Treasury in connection with general duties Guidance about objectives (s. 1K)1K. Guidance about objectives Supervision, monitoring and enforcement (s. 1L)1L. Supervision, monitoring and enforcement Arrangements for consulting practitioners and consumers (ss. 1M-1RA)1M. The FCA's general duty to consult 1MA. Composition of Panels 1N. The FCA Practitioner Panel 1O. The Smaller Business Practitioner Panel 1P. The Markets Practitioner Panel 1Q. The Consumer Panel 1QA. The Listing Authority Advisory Panel 1R. Duty to consider representations made by the Panels 1RA. Statement of policy on panel appointments Requirements for public consultation (s. 1RB)1RB. Requirements in connection with public consultations Reviews (ss. 1S-1T)1S. Reviews 1T. Right to obtain documents and information Chapter 2 The Prudential Regulation Authority (ss. 2A-2P)The Prudential Regulation Authority (s. 2A-2AB)2A. The Prudential Regulation Authority 2AB. Functions of the PRA The PRA's general duties (ss. 2B-2J)2B. The PRA's general objective 2C. Insurance objective 2D. Power to provide for additional objectives 2E. Strategy 2F. Interpretation of references to objectives 2G. Limit on effect of sections 2B to 2D 2H. Secondary objectives and duty to have regard to regulatory principles 2I. Guidance about objectives 2J. Interpretation of Chapter 2 Supervision (s. 2K)2K. Arrangements for supervision of PRA-authorised persons Arrangements for consulting practitioners (ss. 2L-2NA)2L. The PRA's general duty to consult 2LA. Composition of Panels 2M. The PRA Practitioner Panel 2MA. The Insurance Practitioner Panel 2N. Duty to consider representations 2NA. Statement of policy on panel appointments Requirements for public consultation (s. 2NB)2NB. Requirements in connection with public consultations Reviews (ss. 2O-2P)2O. Reviews 2P. Right to obtain documents and information Chapter 3 Further provisions relating to FCA and PRA (ss. 3A-3T)Introductory (s. 3A)3A. Meaning of "regulator"Regulatory principles (s. 3B)3B. Regulatory principles to be applied by both regulators Corporate governance (s. 3C)3C. Duty to follow principles of good governance Relationship between FCA and PRA (ss. 3D-3H)3D. Duty of FCA and PRA to ensure co-ordinated exercise of functions 3E. Memorandum of understanding 3F. With-profits insurance policies 3G. Power to establish boundary between FCA and PRA responsibilities 3H. Parliamentary control of orders under section 3G Power of PRA to restrain proposed action by FCA (ss. 3I-3L)3I. Power of PRA to require FCA to refrain from specified action 3J. Power of PRA in relation to with-profits policies 3K. Revocation of directions under section 3I or 3J 3L. Further provisions about directions under section 3I or 3J Directions relating to consolidated supervision (ss. 3M-3P)3M. Directions relating to consolidated supervision of groups 3N. Revocation of directions under section 3M 3O. Further provisions about directions under section 3M 3P. Consultation by regulator complying with direction Co-operation with Bank of England (s. 3Q)3Q. Co-operation by FCA with Bank of England Arrangements for provision of services (s. 3R)3R. Arrangements for provision of services Rules (ss. 3RA-3RE)3RA. Duty of FCA and PRA to review rules 3RB. Statement of policy relating to review of rules 3RC. Requirement to review specified rules 3RD. Report on certain reviews 3RE. Power of Treasury to require making of rules by regulations Enhancing public understanding of financial matters etc. (s. 3S)3S. The consumer financial education body Interpretation (s. 3T)3T. Interpretation Part II Regulated and Prohibited Activities (ss. 19-30)The general prohibition (s. 19)19. The general prohibition Requirement for permission (s. 20)20. Authorised persons acting without permission Financial promotion (s. 21)21. Restrictions on financial promotion Regulated activities (ss. 22-22B)22. Regulated activities 22A. Designation of activities requiring prudential regulation by PRA 22B. Parliamentary control in relation to certain orders under section 22A Offences (ss. 23-25)23. Contravention of the general prohibition or section 20(1) or (1A)23A. Parliamentary control in relation to certain orders under section 23 24. False claims to be authorised or exempt 25. Contravention of section 21 Enforceability of agreements (ss. 26-30)26. Agreements made by unauthorised persons 26A. Agreements relating to credit 27. Agreements made through unauthorised persons 28. Agreements made unenforceable by section 26 or 27: general cases 28A. Credit-related agreements made unenforceable by section 26, 26A or 27 28B. Decisions under section 28A: procedure 29. Accepting deposits in breach of general prohibition 30. Enforceability of agreements resulting from unlawful communications Part III Authorisation and Exemption (ss. 31-39A)Authorisation (ss. 31-32A)31. Authorised persons 32. Partnerships and unincorporated associations 32A. Gibraltar-based persons Ending of authorisation (ss. 33-36)33. Withdrawal of authorisation 34. EEA firms 35. Treaty firms 36. Authorised open-ended investment companies UK-based persons carrying on activities in Gibraltar (s. 36A)36A. UK-based persons carrying on activities in Gibraltar Exercise of EEA rights by UK firms (s. 37)37. Exercise of EEA rights by UK firms Exemption (ss. 38-39A)38. Exemption orders 39. Exemption of appointed representatives 39A. Certain tied agents operating outside United Kingdom Part IV Permission to Carry on Regulated Activities (ss. 40-55) [Substituted with new Part IVA]Application for permission (ss. 40-41) [Substituted with new Part IVA]40. Application for permission [Substituted with new Part IVA]41. The threshold conditions [Substituted with new Part IVA]Permission (ss. 42-43) [Substituted with new Part IVA]42. Giving permission [Substituted with new Part IVA]43. Imposition of requirements [Substituted with new Part IVA]Variation and cancellation of Part IV permission (ss. 44-48) [Substituted with new Part IVA]44. Variation etc. at request of authorised person [Substituted with new Part IVA]45. Variation etc. on the Authority's own initiative [Substituted with new Part IVA]46. Variation of permission on acquisition of control [Substituted with new Part IVA]47. Exercise of power in support of overseas regulator [Substituted with new Part IVA]48. Prohibitions and restrictions [Substituted with new Part IVA]Connected persons (s. 49) [Substituted with new Part IVA]49. Persons connected with an applicant [Substituted with new Part IVA]Additional permissions (s. 50) [Substituted with new Part IVA]50. Authority's duty to consider other permissions etc. [Substituted with new Part IVA]Procedure (ss. 51-54) [Substituted with new Part IVA]51. Applications under this Part [Substituted with new Part IVA]52. Determination of applications [Substituted with new Part IVA]53. Exercise of own-initiative power: procedure [Substituted with new Part IVA]54. Cancellation of Part IV permission: procedure [Substituted with new Part IVA]Notification (ss. 54A-54B) [Substituted with new Part IVA]54A. Notification of ESMA [Substituted with new Part IVA]54B. Notification of EBA [Substituted with new Part IVA]References to the Tribunal (s. 55) [Substituted with new Part IVA]55. Right to refer matters to the Tribunal [Substituted with new Part IVA]Part IVA Permission to Carry on Regulated Activities (ss. 55A-55Z4)Application for permission (ss. 55A-55G)55A. Application for permission 55B. The threshold conditions 55C. Power to amend Schedule 6 55D. Firms based outside the United Kingdom 55E. Giving permission: the FCA 55F. Giving permission: the PRA 55G. Giving permission: special cases Variation and cancellation of Part 4A permission (ss. 55H-55KA)55H. Variation by FCA at request of authorised person 55I. Variation by PRA at request of authorised person 55J. Variation or cancellation on initiative of regulator 55JA. Variation or cancellation on initiative of FCA: additional power 55K. Investment firms: particular conditions that enable cancellation 55KA. Insurance undertakings, reinsurance undertakings and third-country insurance undertakings: particular conditions that enable cancellation Imposition and variation of requirements (ss. 55L-55PB)55L. Imposition of requirements by FCA 55M. Imposition of requirements by PRA 55N. Requirements under section 55L or 55M: further provisions 55NA. General requirement relating to financial promotion approval 55NB. Section 55NA: power to provide for exemptions 55O. Imposition of requirements on acquisition of control 55P. Prohibitions and restrictions 55PA. Assets requirements imposed on insurance undertakings or reinsurance undertakings 55PB. Requirements relating to general meetings Exercise of power in support of overseas regulator (s. 55Q)55Q. Exercise of power in support of overseas regulator Connected persons (s. 55R)55R. Persons connected with an applicant Additional permissions (s. 55S)55S. Duty of FCA or PRA to consider other permissions Persons whose interests are protected (s. 55T)55T. Persons whose interests are protected Procedure (ss. 55U-55Z)55U. Applications under this Part 55V. Determination of applications 55W. Applications under this Part: communications between regulators 55X. Determination of applications: warning notices and decision notices 55XA. Applications relating to administering a benchmark 55Y. Exercise of own-initiative power: procedure 55Z. Cancellation of Part 4A permission or permission under section 55NA: procedure Notification (ss. 55Z1-55Z2A)55Z1. Notification of ESMA 55Z2. Notification of EBA 55Z2A. Notification of the European bodies References to the Tribunal (s. 55Z3)55Z3. Right to refer matters to the Tribunal Interpretation (s. 55Z4)55Z4. Interpretation of Part 4A Part V Performance of Regulated Activities (ss. 56-71I)Prohibition orders (ss. 56-58)56. Prohibition orders 57. Prohibition orders: procedure and right to refer to Tribunal 58. Applications relating to prohibitions: procedure and right to refer to Tribunal Approval (ss. 59-63ZE)59. Approval for particular arrangements 59ZA. Senior management functions 59ZB. Designated senior management functions 59A. Specifying functions as controlled functions: supplementary 59AB. Specifying functions as controlled functions: transitional provision 59B. Role of FCA in relation to PRA decisions 60. Applications for approval 60A. Vetting of candidates by authorised persons 61. Determination of applications 62. Applications for approval: procedure and right to refer to Tribunal 62A. Changes in responsibilities of senior managers 63. Withdrawal of approval 63ZA. Variation of senior manager's approval at request of authorised person 63ZB. Variation of senior manager's approval on initiative of regulator 63ZC. Exercise of power under section 63ZB: procedure 63ZD. Statement of policy relating to conditional approval and variation 63ZE. Statement of policy: procedure Performance of controlled functions without approval (ss. 63A-63D)63A. Power to impose penalties 63B. Procedure and right to refer to Tribunal 63C. Statement of policy 63D. Statement of policy: procedure Certification of employees (ss. 63E-63F)63E. Certification of employees by authorised persons 63F. Issuing of certificates Conduct of approved persons (ss. 64-65)64. Conduct: statements and codes 65. Statements and codes: procedure Conduct of approved persons and others (ss. 64A-70)64A. Rules of conduct 64B. Rules of conduct: responsibilities of authorised persons 64C. Requirement for authorised persons to notify regulator of disciplinary action 66. Disciplinary powers 66A. Misconduct: action by the FCA 66B. Misconduct: action by the PRA 67. Disciplinary measures: procedure and right to refer to Tribunal 68. Publication 69. Statement of policy 70. Statements of policy: procedure Breach of statutory duty (s. 71)71. Actions for damages Relevant authorised person (s. 71A)71A. Meaning of "relevant authorised person"Removal of directors and senior executives and appointment of temporary manager (ss. 71B-71I)71B. Removal of directors and senior executives 71C. Temporary manager 71D. Sections 71B and 71C: conditions 71E. Temporary manager: further provisions in relation to the appointment 71F. Temporary manager: instrument of appointment 71G. Right to refer matters to the Tribunal 71H. Removal of directors and senior executives and appointment of temporary manager: procedure 71I. Sections 71B to 71H: interpretation Application of this Part to Gibraltar-based persons (s. 71J)71J. Application of this Part to Gibraltar-based persons Part VA Designated activities (ss. 71K-71S)Draft Chapter 1 General Provisions (drafts. 71K-71S)71K Designated activities 71L Restrictions on carrying on of designated activities 71M Designated activity regulations: general 71N Designated activities: rules 71O Designated activities: directions 71P Designated activities: liability 71Q Designated activities: enforcement 71R Designated activities and rules: connected amendments 71S Designated activities regulations: Parliamentary control Draft Chapter 2 Provisions Relating to Particular Designated Activities (drafts. 71T-71Y)Draft "Relevant designated activity" and "relevant Part 5A requirement" (drafts. 71T)Draft 71T Meaning of "relevant designated activity" and "relevant Part 5A requirement"Draft Procedure relating to relevant Part 5A directions (drafts. 71U-71Y)Draft 71U Meaning of "relevant Part 5A direction" for purposes of this Chapter Draft 71V Procedure for giving, varying or revoking relevant Part 5A direction Draft 71W Application for variation or revocation of relevant Part 5A direction Draft 71X Determination of application under section 71W Draft 71Y Relevant Part 5A direction: right to refer to Tribunal Part VI Official Listing (ss. 72-103)The competent authority (ss. 72-73)72. The competent authority 73. General duty of the competent authority Rules (s. 73A)73A. Part 6 Rules The official list (s. 74)74. The official list Listing (ss. 75-78A)75. Applications for listing 76. Decision on application 77. Discontinuance and suspension of listing 78. Discontinuance or suspension: procedure 78A. Discontinuance or suspension at the request of the issuer: procedure Listing particulars (ss. 79-83)79. Listing particulars and other documents 80. General duty of disclosure in listing particulars 81. Supplementary listing particulars 82. Exemptions from disclosure 83. Registration of listing particulars Contravention of prohibition relating to public offer of securities (ss. 84-87)84. Matters which may be dealt with by prospectus rules 85. Contravention of prohibition relating to public offer of securities 86. Exempt offers to the public and admissions to trading 87. Election to have prospectus Approval of prospectus (ss. 87A-87D)87A. Criteria for approval of prospectus by FCA 87B. Exemptions from disclosure 87C. Consideration of application for approval 87D. Procedure for decision to refuse an application for approval Transfer of application for approval of a prospectus (ss. 87E-87F)87E. Transfer by FCA of application for approval 87F. Transfer to FCA of application for approval Final terms (ss. 87FA-87FB)87FA. Final terms 87FB. Communication of final terms by FCA Supplementary prospectus (s. 87G)87G. Supplementary prospectus Passporting (ss. 87H-87I)87H. Prospectus approved in another EEA State 87I. Provision of information to host Member State Transferable securities: powers of FCA (ss. 87J-87P)87J. Requirements imposed as condition of approval 87JA. Power to suspend scrutiny of prospectus 87JB. Power to refuse approval of a prospectus 87K. Power to suspend, restrict or prohibit offer to the public 87L. Power to suspend, restrict or prohibit admission to trading on a regulated market 87LA. Power of FCA to suspend or prohibit trading on a trading facility 87M. Public censure of issuer 87N. Right to refer matters to the Tribunal 87O. Procedure under sections 87JA, 87K, 87L and 87LA 87P. Exercise of powers at request of competent authority of another EEA State Rights of investors (s. 87Q)87Q. Right of investor to withdraw Registered investors (s. 87R)87R. Register of investors Sponsors (ss. 88-89)88. Sponsors 88A. Disciplinary powers: contravention of s.88(3)(c) or (e)88B. Action under s.88A: procedure and right to refer to Tribunal 88C. Action under s.88A: statement of policy 88D. Statement of policy under s.88C: procedure 88E. Powers exercisable to advance operational objectives 88F. Action under s.88E: procedure 89. Public censure of sponsor Transparency obligations (ss. 89A-98G)89A. Transparency rules 89B. Provision of voteholder information 89C. Provision of information by issuers of transferable securities 89D. Notification of voting rights held by issuer 89E. Notification of proposed amendment of issuer's constitution 89F. Transparency rules: interpretation etc 89G. Transparency rules: other supplementary provisions Power of FCA to call for information (ss. 89H-89J)89H. FCA's power to call for information 89I. Requirements in connection with call for information 89J. Power to call for information: supplementary provisions Powers exercisable in case of infringement of transparency obligation (ss. 89K-89NA)89K. Public censure of issuer 89L. Power to suspend or prohibit trading of securities 89M. Procedure under section 89L 89N. Right to refer matters to the Tribunal 89NA. Voting rights suspension orders Corporate governance (s. 89O)89O. Corporate governance rules Primary information providers (ss. 89P-89W)89P. Primary information providers 89Q. Disciplinary powers: contravention of s.89P(4) (b) or (d)89R. Action under s.89Q: procedure and right to refer to Tribunal 89S. Action under s.89Q: statement of policy 89T. Statement of policy under s.89S: procedure 89U. Powers exercisable to advance operational objectives 89V. Action under s.89U: procedure 89W. Storage of regulated information Compensation for false or misleading statements etc. (ss. 90-90B)90. Compensation for statements in listing particulars 90ZA. Liability for key investor information 90A. Liability of issuers in connection with published information 90B. Power to make further provision about liability for published information Penalties (ss. 91-94)91. Penalties for breach of Part 6 rules 92. Procedure 93. Statement of policy 94. Statements of policy: procedure Competition (s. 95)95. Competition scrutiny Miscellaneous (ss. 96-102)96. Obligations of issuers of listed securities 96A. Disclosure of information requirements 96B. Disclosure rules: persons responsible for compliance 96C. Suspension of trading 97. Appointment by FCA of persons to carry out investigations 97A. Reporting of infringements 98. Advertisements etc. in connection with listing applications 99. Fees 100. Penalties 100A. Exercise of powers where UK is host member state 101. Listing rules: general provisions 102. Exemption from liability in damages Interpretative provisions (ss. 102A-103)102A. Meaning of "securities" etc.102B. Meaning of "offer of transferable securities to the public" etc.102C. Meaning of "home State" in relation to transferable securities 103. Interpretation of this Part Part VII Control of Business Transfers (ss. 103A-117)103A. Meaning of "the appropriate regulator"104. Control of business transfers 105. Insurance business transfer schemes 106. Banking business transfer schemes 106A. Reclaim fund business transfer scheme 106B. Ring-fencing transfer scheme 107. Application for order sanctioning transfer scheme 108. Requirements on applicants 109. Scheme reports: insurance business transfer schemes 109A. Scheme reports: ring-fencing transfer schemes 110. Right to participate in proceedings 111. Sanction of the court for business transfer schemes 112. Effect of order sanctioning business transfer scheme 112ZA. Duty of regulator to provide copy of order 112A. Rights to terminate etc.113. Appointment of actuary in relation to reduction of benefits 114. Rights of certain policyholders 114A. Notice of transfer of reinsurance contracts Business transfers outside the United Kingdom (ss. 115-116)115. Certificates for purposes of insurance business transfers overseas 116. Effect of insurance business transfers authorised in other EEA States Modifications (s. 117)117. Power to modify this Part Part VIII Provisions relating to market abuse (ss. 118-131AE)Market abuse (ss. 118-118C)118. Market abuse 118A. Supplementary provision about certain behaviour 118B. Insiders 118C. Inside information The code (ss. 119-122)119. The code 120. Provisions included in the FCA's code by reference to the City Code 121. Codes: procedure 122. Effect of the code Powers to require information and supplemental provisions (ss. 122A-122F)122A. Power to require information from issuers 122B. General power to require information 122C. Power to require information: supplementary 122D. Entry of premises under warrant 122E. Retention of documents taken under section 122D 122F. Offences Other administrative powers (ss. 122G-122IA)122G. Publication of information and corrective statements by issuers 122H. Publication of corrective statements generally 122HA. Publication of corrective statements relating to benchmarks 122I. Power to suspend trading in financial instruments 122IA. Power to suspend auctioning of auctioned products on a recognised auction platform Administrative sanctions (ss. 123-123C)123. Power to impose penalties or issue censure 123A. Power to prohibit individuals from managing or dealing 123B. Suspending permission to carry on regulated activities etc 123C. Exercise of administrative sanctions Statement of policy (ss. 124-125)124. Statement of policy 125. Statement of policy: procedure Procedure (ss. 126-127A)126. Warning notices 127. Decision notices and right to refer to Tribunal 127A. Consultation with the PRA in relation to administrative sanctions Miscellaneous (ss. 128-131AE)128. Suspension of investigations 129. Power of court to impose administrative sanctions in cases of market abuse 130. Guidance 130A. Interpretation and supplementary provision 131. Effect on transactions 131A. Protected Disclosures 131AA. Reporting of infringements 131AB. Interpretation 131AC. Meaning of "persons closely associated" in the market abuse regulation 131AD. Individual liability in respect of legal persons under Articles 8 and 12 of the market abuse regulation 131AE. Liability for contraventions of Article 14 or 15 of the market abuse regulation Part VIIIA Short selling (ss. 131B-131L)Short selling rules (ss. 131B-131D)131B. Short selling rules 131C. Short selling rules: definitions etc 131D. Short selling rules: procedure in urgent cases Power to require information (ss. 131E-131FC)131E. Power to require information 131F. Power to require information: supplementary 131FA. Investigations in support of overseas regulator 131FB. Entry of premises under warrant 131FC. Retention of documents taken under section 131FB Breach of short selling regulation etc (ss. 131G-131L)131G. Power to impose penalty or issue censure 131H. Procedure and right to refer to Tribunal 131I. Duty on publication of statement 131J. Imposition of penalties under section 131G: statement of policy 131K. Statement of policy: procedure 131L. Offences Part VIIIB Cash access services (ss. 131M-131Z2)Introductory (ss. 131M-131O)131M. Overview 131N. Cash access services and coordination arrangements 131O. Current accounts and relevant current account providers Cash access policy statement (ss. 131P-131Q)131P. Cash access policy statement 131Q. Provision of reports to assist the Treasury Designation (ss. 131R-131T)131R. Designation 131S. Designation criteria 131T. Cancellation or variation of a designation notice Supervision of designated persons (ss. 131U-131Z2)131U. Purpose for which FCA must exercise functions under this Part 131V. FCA rules 131W. Power to direct designated persons 131X. Procedure for directions 131Y. Information gathering and investigations 131Z. Disciplinary measures 131Z1. Costs of supervision 131Z2. Exclusion and modification of other FCA duties Part IX Hearings and Appeals (ss. 132-137)132. The Financial Services and Markets Tribunal 133. Proceedings before Tribunal: general provision 133A. Proceedings before Tribunal: decision and supervisory notices, etc.133B. Offences Legal assistance before the Tribunal (ss. 134-136)134. Legal assistance scheme 135. Provisions of the legal assistance scheme 136. Funding of the legal assistance scheme Appeals (s. 137)137. Appeal on a point of law Part IXA Rules and Guidance (ss. 137A-141B)Chapter 1 Rule-making powers (ss. 137A-137T)General rule-making powers of the FCA and the PRA (ss. 137A-137N)137A. The FCA's general rules 137AA. The FCA's general rules: Gibraltar 137B. FCA general rules: clients' money, right to rescind etc.137C. FCA general rules: cost of credit and duration of credit agreements 137D. FCA general rules: product intervention 137E. Orders under s.137D(1)(b)137F. Rules requiring participation in benchmark 137FA. FCA general rules: disclosure of information about pension scheme transaction costs etc 137FAA. FCA general rules: pensions dashboards 137FAB. Pensions dashboards: further provision 137FAC. Sections 137FAA and 137FAB: supplementary 137FB. FCA general rules: disclosure of information about the availability of pensions guidance 137FBA. FCA general rules: advice about transferring or otherwise dealing with annuity payments 137FBB. FCA general rules: early exit pension charges 137FC. FCA rules: disclosure of information about the availability of financial guidance 137FD. FCA general rules: charges for claims management services 137G. The PRA's general rules 137GA. The PRA's general rules: Gibraltar 137H. General rules about remuneration 137I. Remuneration policies: Treasury direction to consider compliance 137J. Rules about recovery plans: duty to consult 137K. Rules about resolution packs: duty to consult 137L. Interpretation of sections 137J and 137K 137M. Special provision relating to adequacy of resolution plans 137N. Recovery plans and resolution packs: restriction on duty of confidence Specific rule-making powers (ss. 137O-137SB)137O. Threshold condition code 137P. Control of information rules 137Q. Price stabilising rules 137R. Financial promotion rules 137S. Financial promotion rules: directions given by FCA 137SA Rules to recover expenses relating to the Money and Pensions Service 137SB Rules to recover debt advice expenses incurred by the devolved authorities Supplementary powers (s. 137T)137T. General supplementary powers Chapter 2 Rules: modification, waiver, contravention and procedural provisions (ss. 138A-138O)Modification or waiver of rules (ss. 138A-138BA)138A. Modification or waiver of rules 138B. Publication of directions under section 138A 138BA. Disapplication or modification of rules in individual cases Contravention of rules (ss. 138C-138E)138C. Evidential provisions 138D. Actions for damages 138E. Limits on effect of contravening rules Procedural provisions (ss. 138EA-138O)138EA. Matters to consider when making rules 138F. Notification of rules 138G. Rule-making instruments 138H. Verification of rules 138I. Consultation by the FCA 138IA. FCA Cost Benefit Analysis Panel 138IB. Statement of policy in relation to cost benefit analyses 138J. Consultation by the PRA 138JA. PRA Cost Benefit Analysis Panel 138JB. Statement of policy in relation to cost benefit analyses 138K. Consultation: mutual societies 138L. Consultation: general exemptions 138M. Consultation: exemptions for temporary product intervention rules 138N. Temporary product intervention rules: statement of policy 138O. Statement of policy under section 138N: procedure Chapter 2A Technical standards (ss. 138P-138S)138P. Technical standards 138Q. Standards instruments 138R. Treasury approval 138S. Application of Chapters 1 and 2 Chapter 3 Guidance (ss. 139A-139B)139A. Power of the FCA to give guidance 139B. Notification of FCA guidance to the Treasury Chapter 4 Competition scrutiny (ss. 140A-140H)140A. Interpretation 140B. Advice about effect of regulating provision or practice 140C. Consultation with regulator 140D. Investigation powers of CMA 140E. Publication by CMA of section 140B advice 140F. Duty of CMA to send report to regulator 140G. Duty of regulator to publish response 140H. Role of the Treasury Chapter 5 Power to make consequential amendments (ss. 141A-141B)141A. Power to make consequential amendments of references to rules etc.141B. Power to consequentially amend enactments Part IXB Ring-fencing (ss. 142A-142Z1)Introductory (ss. 142A-142F)142A. "Ring-fenced body"142B. Core activities 142C. Core services 142D. Excluded activities 142E. Power of Treasury to impose prohibitions 142F. Orders under section 142A, 142B, 142D or 142E Ring-fenced bodies not to carry on excluded activities or contravene prohibitions (s. 142G)142G. Ring-fenced bodies not to carry on excluded activities or contravene prohibitions Ring-fencing rules (ss. 142H-142J)142H. Ring-fencing rules 142I. Powers of Treasury in relation to ring-fencing rules 142J. Review of ring-fencing rules etc Group restructuring powers (ss. 142K-142R)142K. Cases in which group restructuring powers become exercisable 142L. Group restructuring powers 142M. Procedure: preliminary notices 142N. Procedure: warning notice and decision notice 142O. References to Tribunal 142P. Subsequent variation of requirement or direction 142Q. Consultation etc. between regulators 142R. Relationship with regulators' powers under Parts 4A and 12A Failure of parent undertaking to comply with direction (ss. 142S-142V)142S. Power to impose penalty or issue censure 142T. Procedure and right to refer to Tribunal 142U. Duty on publication of statement 142V. Imposition of penalties under section 142S: statement of policy Pension liabilities (ss. 142W-142X)142W. Pension liabilities 142X. Further interpretative provisions for section 142W Loss-absorbency requirements (s. 142Y)142Y. Power of Treasury in relation to loss-absorbency requirements General (ss. 142Z-142Z1)142Z. Affirmative procedure in relation to certain orders under Part 9B 142Z1. Interpretation of Part 9B Part IXC Prudential regulation of FCA investment firms (ss. 143A-143Z)Interpretation (ss. 143A-143B)143A. FCA investment firms 143B. Other terms used in this Part Rules (s. 143C-143I)143C. Duty to make rules applying to FCA investment firms 143D. Duty to make rules applying to parent undertakings 143E. Powers to make rules applying to parent undertakings 143F. Part 9C rules 143G. Matters to consider when making Part 9C rules 143H. Explanation to accompany consultation on rules 143I. Exceptions from sections 143G and 143H Requirement to have UK parent undertaking (s. 143J)143J. Requirement to have UK parent undertaking Imposition of requirements on non-authorised parent undertakings (ss. 143K-143Q)143K. Imposition of requirements on non-authorised parent undertakings 143L. Applications under section 143K 143M. Determination of applications under section 143K 143N. Refusal of applications under section 143K 143O. Exercise of own-initiative power under section 143K 143P. Right to refer matters to the Tribunal 143Q. Assets requirements Control of managers etc of non-authorised parent undertakings (ss. 143R-143V)143R. Managers of non-authorised parent undertakings 143S. Part 9C prohibition orders 143T. Procedure for making a Part 9C prohibition order 143U. Varying and withdrawing a Part 9C prohibition order 143V. Offence of breaching a Part 9C prohibition order Disciplinary measures for non-authorised parent undertakings (ss. 143W-143Z)143W. Disciplinary measures 143X. Procedure for disciplinary measures 143Y. Statement of policy for penalties under section 143W 143Z. Procedure for statement of policy Part IXD Prudential regulation of credit institutions etc (ss. 144A-144H)Interpretation (ss. 144A-144B)144A. CRR rules 144B. Terms used in this Part Making CRR rules (ss. 144C-144F)144C. Matters to consider when making CRR rules 144D. Explanation to accompany consultation on CRR rules 144E. Exceptions from sections 144C and 144D etc 144F. Power to consequentially amend enactments Content of CRR rules (ss. 144G-144H)144G. Disapplication or modification of CRR rules in individual cases 144H. Relationship with the capital requirements regulation Part X Rules and Guidance (ss. 138-164) [Substituted with new Part IXA]Chapter I Rule-making Powers (ss. 138-156) [Substituted with new Part IXA]138. General rule-making power [Substituted with new Part IXA]139. Miscellaneous ancillary matters [Substituted with new Part IXA]139A. General rules about remuneration [Substituted with new Part IXA]139B. Rules about recovery plans [Substituted with new Part IXA]139C. Rules about resolution plans [Substituted with new Part IXA]139D. Sections 139B and 139C: interpretation [Substituted with new Part IXA]139E. Rules about recovery and resolution plans: supplementary provision [Substituted with new Part IXA]139F. Special provision in relation to resolution plans [Substituted with new Part IXA]140. Restriction on managers of certain collective investment schemes [Substituted with new Part IXA]141. Insurance business rules [Substituted with new Part IXA]142. Insurance business: regulations supplementing Authority's rules [Substituted with new Part IXA]143. Endorsement of codes etc.Specific rules (ss. 144-147) [Substituted with new Part IXA]144. Price stabilising rules [Substituted with new Part IXA]145. Financial promotion rules [Substituted with new Part IXA]146. Money laundering rules [Substituted with new Part IXA]147. Control of information rules [Substituted with new Part IXA]Modification or waiver (s. 148) [Substituted with new Part IXA]148. Modification or waiver of rules [Substituted with new Part IXA]Contravention of rules (ss. 149-151) [Substituted with new Part IXA]149. Evidential provisions [Substituted with new Part IXA]150. Actions for damages [Substituted with new Part IXA]151. Limits on effect of contravening rules [Substituted with new Part IXA]Procedural provisions (ss. 152-156) [Substituted with new Part IXA]152. Notification of rules to the Treasury [Substituted with new Part IXA]153. Rule-making instruments [Substituted with new Part IXA]154. Verification of rules [Substituted with new Part IXA]155. Consultation [Substituted with new Part IXA]156. General supplementary powers [Substituted with new Part IXA]Chapter II Guidance (ss. 157-158A) [Substituted with new Part IXA]157. Guidance [Substituted with new Part IXA]158. Notification of guidance to the Treasury [Substituted with new Part IXA]158A. Guidance on outsourcing by investment firms and credit institutions [Substituted with new Part IXA]Chapter III Competition scrutiny (ss. 159-164) [Substituted with new Part IXA]159. Interpretation [Substituted with new Part IXA]160. Reports by OFT [Substituted with new Part IXA]161. Power of OFT to request information [Substituted with new Part IXA]162. Consideration by Competition Commission [Substituted with new Part IXA]163. Role of the Treasury [Substituted with new Part IXA]164. The Competition Act 1998 [Substituted with new Part IXA]Part XI Information Gathering and Investigations (ss. 165-177A)Powers to gather information (ss. 165-166A)165. Regulators' power to require information: authorised persons etc 165A. PRA's power to require information: financial stability 165B. Safeguards etc in relation to exercise of power under section 165A 165C. Orders under section 165A(2)(d)166. Reports by skilled persons 166A. Appointment of skilled person to collect and update information Appointment of investigators (ss. 167-168)167. Appointment of persons to carry out general investigations 168. Appointment of persons to carry out investigations in particular cases Assistance to overseas regulators (ss. 169-169A)169. Investigations etc. in support of overseas regulator 169A. Support of overseas regulator with respect to financial stability Conduct of investigations (ss. 170-176A)170. Investigations: general 171. Powers of persons appointed under section 167 172. Additional power of persons appointed as a result of section 168(1) or (4)173. Powers of persons appointed as a result of section 168(2)174. Admissibility of statements made to investigators 175. Information and documents: supplemental provisions 176. Entry of premises under warrant 176A. Retention of documents taken under section 176 Offences (s. 177)177. Offences Interpretation (s. 177A)177A. Interpretation of Part 11 Part XII Control Over Authorised Persons (ss. 178-192)Notices of acquisitions of control over UK authorised persons (ss. 178-180)178. Obligation to notify the appropriate regulator: acquisitions of control 179. Requirements for section 178 notices 180. Acknowledgment of receipt Acquiring control and other changes of holding (ss. 181-184)181. Acquiring control 182. Increasing control 183. Reducing or ceasing to have control 184. Disregarded holdings Assessment procedure (ss. 185-191)185. Assessment: general 186. Assessment criteria 187. Approval with conditions 187A. Assessment: consultation by PRA with FCA 187B. Assessment: consultation by FCA with PRA 187C. Variation etc of conditions 188. Assessment: consultation with EC competent authorities 189. Assessment: Procedure 190. Requests for further information 190A. Assessment and resolution 191. Duration of approval Enforcement procedures (ss. 191A-191C)191A. Objection by the appropriate regulator 191B. Restriction notices 191C. Orders for sale of shares Notice of reductions of control of UK authorised persons (ss. 191D-191E)191D. Obligation to notify the appropriate regulator: dispositions of control 191E. Requirements for notices under section 191D Offences (s. 191F)191F. Offences under this Part Interpretation (s. 191G)191G. Interpretation Miscellaneous (s. 192)192. Power to change definitions of control etc.Part XIIA Powers Exercisable in Relation to Parent Undertakings (ss. 192A-192N)Introductory (ss. 192A-192B)192A. Meaning of "qualifying authorised person"192B. Meaning of "qualifying parent undertaking"Power of direction (ss. 192C-192I)192C. Power to direct qualifying parent undertaking 192D. Requirements that may be imposed 192E. Direction: procedure 192F. Consultation between regulators 192G. References to Tribunal 192H. Statement of policy: directions under section 192C 192I. Statement of policy relating to directions: procedure Rules requiring provision of information by parent undertakings (s. 192J)192J. Rules requiring provision of information by parent undertakings Rules applying to parent undertakings of ring-fenced bodies (s. 192JA)192JA. Rules applying to parent undertakings of ring-fenced bodies Rules requiring parent undertakings to facilitate resolution (s. 192JB)192JB. Rules requiring parent undertakings to facilitate resolution Failure to comply with direction or breach of rules (ss. 192K-192N)192K. Power to impose penalty or issue censure 192L. Procedure and right to refer to Tribunal 192M. Duty on publication of statement 192N. Imposition of penalties under section 192K: statement of policy Part XIIB Approval of certain holding companies (ss. 192O-192Z3)Interpretation (s. 192O)192O. Interpretation Approval (ss. 192P-192X)192P. Requirement for approval 192Q. Application for approval or exemption 192R. Grant of approval 192S. Regulator's duty to monitor 192T. Measures 192U.Directions: procedure 192V. Rules imposing consolidated or sub-consolidated requirements 192W. Consultation between regulators 192X. References to Tribunal Rules (ss. 192XA-192XC)192XA. Rules applying to holding companies 192XB. Procedural provision 192XC. Disapplication or modification of rules in individual cases Disciplinary measures (ss. 192Y-192Z3)192Y. Power to impose penalty or issue censure 192Z. Procedure and right to refer to Tribunal 192Z1. Duty on publication of statement 192Z2. Directions and penalties: statement of policy 192Z3. Statement of policy relating to directions: procedure Part XIII Incoming Firms: Intervention by FCA or PRA (ss. 193-204)Interpretation (ss. 193-196)193. Interpretation of this Part 194. General grounds on which power of intervention is exercisable 194A. Contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: appropriate regulator primarily responsible for securing compliance 194B. Contravention by relevant EEA firm of requirement in capital requirements directive or capital requirements regulation 194C. Contravention by relevant EEA firm with UK branch of requirement in mortgages directive: appropriate regulator primarily responsible for securing compliance 194D. Contravention by relevant EEA firm of requirement in insurance distribution directive: appropriate regulator primarily responsible for securing compliance 195. Exercise of power in support of overseas regulator 195A. Contravention by relevant EEA firm, EEA UCITS or EEA AIFM of directive requirements: home state regulator primarily responsible for securing compliance 195B. Contravention by relevant EEA firm of requirement in mortgages directive: home state regulator primarily responsible for securing compliance 195C. Contravention by relevant EEA firm of requirement in insurance distribution directive: home state regulator primarily responsible for securing compliance 196. The power of intervention Exercise of power of intervention (ss. 197-199A)197. Procedure on exercise of power of intervention 198. Power to apply to court for injunction in respect of certain overseas insurance companies 199. Additional procedure for EEA firms in certain cases 199A. Management companies: loss of authorisation Supplemental (ss. 200-202)200. Rescission and variation of requirements 201. Effect of certain requirements on other persons 202. Contravention of requirement imposed under this Part Powers of Office of Fair Trading (ss. 203-204)203. Power to prohibit the carrying on of Consumer Credit Act business 204. Power to restrict the carrying on of Consumer Credit Act business Part XIIIA Enhanced supervision of firms exercising rights under the Insurance Distribution Directive (ss. 203A-203D)203A. Insurance distribution directive: enhanced supervision of EEA firms by UK regulators 203B. Insurance distribution directive: enhanced supervision of UK firms by an EEA regulator 203C. Modification or waiver of rules where firm subject to enhanced supervision 203D. Publication of directions under section 203C Part XIV Disciplinary Measures (ss. 204A-211)204A. Meaning of "relevant requirement" and "appropriate regulator 205. Public censure 206. Financial penalties 206A. Suspending permission to carry on regulated activities etc Draft 206B Prohibition or restriction on carrying on of relevant designated activities 207. Proposal to take disciplinary measures 208. Decision notice Draft 208A Applications under section 206B(4): procedure and right to refer to Tribunal 209. Publication 210. Statements of policy 211. Statements of policy: procedure Part XV The Financial Services Compensation Scheme (ss. 212-224A)The scheme manager (s. 212)212. The scheme manager The scheme (s. 213)213. The compensation scheme Provisions of the scheme (ss. 214-217ZB)214. General 214A. Contingency funding 214B. Contribution to costs of special resolution regime 214C. Limit on amount of special resolution regime payments 214D. Contributions under section 214B: supplementary Draft 214E Recapitalisation payments Draft 214F Recapitalisation payment: report Draft 214G Notification to Parliamentary Committees Draft 214H Reimbursement in respect of a recapitalisation payment 215. Rights of the scheme in insolvency 215A. Continuity etc. of funeral plan contracts 215B. Scheme manager's power to require assistance from liquidator etc. in relation to funeral plan contracts 216. Continuity of long-term insurance policies 217. Insurers in financial difficulties 217ZA. Insurers subject to write-down orders 217ZB. Recovery of financial assistance under section 217ZA Relationship with the regulators (s. 217A)217A. Co-operation Annual plan and report (ss. 217B-218ZA)217B. Annual plan 218. Annual report 218ZA. Audit of accounts Information and documents (ss. 218A-221)218A. Regulators' power to require information 218B. Treasury's power to require information from scheme manager 219. Scheme manager's power to require information 220. Scheme manager's power to inspect information held by liquidator etc.220A. Power to inspect information held by write-down manager 221. Powers of court where information required Miscellaneous (ss. 221A-224A)221A. Delegation of functions 222. Statutory immunity 223. Management expenses 223A. Investing in National Loans Fund 223B. Borrowing from National Loans Fund 223C. Payments in error 224. Scheme manager's power to inspect documents held by Official Receiver etc.224ZA. Discharge of functions 224A. Functions under the Banking Act 2009 Part XVA Power to require FSCS manager to act in relation to other schemes (ss. 224B-224F)Introduction (s. 224B)224B. Meaning of "relevant scheme" etc Power to require FSCS manager to act (ss. 224C-224E)224C. Power to require FSCS manager to act on behalf of manager of relevant scheme 224D. Cases where FSCS manager may decline to act 224E. Grounds for declining to act Rules (s. 224F)224F. Rules about relevant schemes Part XVI The Ombudsman Scheme (ss. 225-234B)The scheme (ss. 225-227)225. The scheme and the scheme operator 226. Compulsory jurisdiction 226A. Consumer credit jurisdiction 227. Voluntary jurisdiction Determination of complaints (ss. 228-230A)228. Determination under the compulsory jurisdiction 229. Awards 230. Costs 230A. Reports of determinations Information (ss. 231-233)231. Ombudsman's power to require information 232. Powers of court where information required 232A. Scheme operator's duty to provide information to FCA 233. Data protection Funding (ss. 234-234A)234. Industry funding 234A. Funding by consumer credit licensees etc.Successors to businesses (s. 234B)234B. Transfers of liability Part XVIA Consumer protection and competition (ss. 234C-234O)Super-complaints and references to FCA (ss. 234C-234G)234C. Complaints by consumer bodies 234D. Reference by scheme operator or regulated person 234E. Response by FCA 234F. Section 234E: exceptions 234G. Guidance Competition (ss. 234H-234O)234H. Power of FCA to make request to Competition and Markets Authority 234I. The FCA's functions under Part 4 of the Enterprise Act 2002 234J. The FCA's functions under the Competition Act 1998 234K. Duty to consider exercise of powers under Competition Act 1998 234L. Provision of information and assistance to a CMA group 234M. Function of keeping market under review 234N. Exclusion of general duties 234O. Supplementary provision Part XVII Collective Investment Schemes (ss. 235-284)Chapter I Interpretation (ss. 235-237)235. Collective investment schemes 235A. Contractual schemes 236. Open-ended investment companies 236A. Meaning of "UCITS"237. Other definitions Chapter II Restrictions on Promotion (ss. 238-241)238. Restrictions on promotion 239. Single property schemes 240. Restriction on approval of promotion 241. Actions for damages Chapter IIA Prohibition on issue of bearer units (s. 241A)241A. Bearer units no longer to be issued Chapter III Authorised Unit Trust Schemes (ss. 242-261)Applications for authorisation (ss. 242-244)242. Applications for authorisation of unit trust schemes 243. Authorisation orders: authorised unit trust schemes 243A. Authorisation orders: authorised money market funds 244. Determination of applications Applications refused (s. 245)245. Procedure when refusing an application Certificates (s. 246)246. Certificates Rules (ss. 247-250)247. Trust scheme rules 248. Scheme particulars rules 249. Disciplinary measures 250. Modification or waiver of rules Alterations (ss. 251-252A)251. Alteration of schemes and changes of manager or trustee 252. Procedure when refusing approval of a proposal under section 251 252A. Proposal to convert to a non-feeder UCITS Exclusion clauses (s. 253)253. Avoidance of exclusion clauses Ending of authorisation (ss. 254-256)254. Revocation of authorisation order otherwise than by consent 255. Procedure 256. Requests for revocation of authorisation order Powers of intervention (ss. 257-261B)257. Directions 258. Applications to the court 258A. Winding up or merger of master UCITS 259. Procedure on giving directions under section 257 or 258A and varying them on FCA's own initiative 260. Procedure: refusal to revoke or vary direction 261. Procedure: revocation of direction and grant of request for variation 261A. Information for home state regulator 261B. Information for feeder UCITS Chapter IIIA Authorised Contractual Schemes (ss. 261C-261Z5)Applications for authorisation (ss. 261C -261F)261C. Applications for authorisation of contractual schemes 261D. Authorisation orders: authorised contractual schemes 261E. Authorised contractual schemes: holding of units 261EA. Authorisation orders: authorised money market funds 261F. Determination of applications Applications refused (s. 261G)261G. Procedure when refusing an application Certificates (s. 261H)261H. Certificates Rules (ss. 261I-261L)261I. Contractual scheme rules 261J. Contractual scheme particulars rules 261K. Disciplinary measures 261L. Modification or waiver of rules Co-ownership schemes: rights and liabilities of participants (ss. 261M-261P)261M. Contracts 261N. Effect of becoming or ceasing to be a participant 261O. Limited liability 261P. Segregated liability in relation to umbrella co-ownership schemes Alterations (ss. 261Q-261S)261Q. Alteration of contractual schemes and changes of operator or depositary 261R. Procedure when refusing approval of a proposal under section 261Q 261S. Proposal to convert to a non-feeder UCITS Exclusion clauses (s. 261T)261T. Avoidance of exclusion clauses Ending of authorisation (ss. 261U-261W)261U. Revocation of authorisation order otherwise than by consent 261V. Procedure for revoking authorisation order 261W. Requests for revocation of authorisation order Powers of intervention (ss. 261X-261Z5)261X. Directions 261Y. Applications to the court 261Z. Winding up or merger of master UCITS 261Z1. Procedure on giving directions under section 261X or 261Z and varying them on FCA's own initiative 261Z2. Procedure: refusal to revoke or vary direction 261Z3. Procedure: revocation of direction and grant of request for variation 261Z4. Information for home state regulator 261Z5. Information for feeder UCITS Chapter 3B Unauthorised Co-Ownership AIFS (s. 261Z6)261Z6. Power to make provision about unauthorised co-ownership AIFs Chapter IV Open-ended Investment Companies (ss. 262-263)262. Open-ended investment companies 263. Amendment of section 716 Companies Act 1985 Chapter V Recognised Overseas Schemes (ss. 264-283)Schemes constituted in other EEA States (ss. 264-269)264. Schemes constituted in other EEA States 265. Representations and references to the Tribunal 266. Disapplication of rules 267. Power of FCA to suspend promotion of scheme 268. Procedure on giving directions under section 267 and varying them on FCA's own initiative 269. Procedure on application for variation or revocation of direction Schemes authorised in designated countries or territories (ss. 270-271)270. Schemes authorised in designated countries or territories 271. Procedure Schemes authorised in approved countries (ss. 271A-271S)271A. Schemes authorised in approved countries 271B. Approval of country: equivalent protection afforded to participants 271C. Approval of country: regulatory co-operation 271D. Report by the FCA in relation to approval 271E. Power to impose requirements on schemes 271F. Application for recognition to the FCA 271G. Determination of applications 271H. Procedure when determining an application 271I. Obligations on operator of a section 271A scheme 271J. Provision of information to the FCA 271K. Rules as to scheme particulars 271L. Suspension of recognition 271M. Procedure when suspending recognition 271N. Revocation of recognition on the FCA's initiative 271O. Requests for revocation of recognition 271P. Obligations on operator where recognition is revoked or suspended 271Q. Effect of variation or revocation of Treasury regulations 271R. Public censure 271S. Recognition of parts of schemes under section 271A Individually recognised overseas schemes (ss. 272-282C)272. Individually recognised overseas schemes 273. Matters that may be taken into account 274. Applications for recognition of individual schemes 275. Determination of applications 276. Procedure when refusing an application 277. Alteration of schemes and changes of operator, trustee or depositary 277A. Regular provision of information relating to compliance with requirements for recognition 278. Rules as to scheme particulars 279. Revocation of recognition 280. Procedure 281. Directions 282. Procedure on giving directions under section 281 and varying them otherwise than as requested 282A Obligations on operator where recognition is revoked or suspended 282B Public censure 282C Recognition of parts of schemes under section 272 Facilities and information in UK (s. 283)283. Facilities and information in UK Chapter VA Master-Feeder Structures (ss. 283A-283B)283A. Master-feeder structures 283B. Reports on derivative instruments Chapter VI Investigations (s. 284)284. Power to investigate Part XVIIA Transformer vehicles (s. 284A)284A. Transformer vehicles Part XVIII Recognised investment exchanges, clearing houses, CSDs and other parties (ss. 285-313)Chapter I Exemption (ss. 285-301)General (285-286)285. Exemption for recognised bodies etc.285A. Powers exercisable in relation to recognised bodies etc 286. Qualification for recognition Applications for recognition (ss. 287-292)287. Application by an investment exchange 287A. Application by an investment exchange: persons connected with an applicant 288. Application by a clearing house 288A. Application by a central securities depository 289. Applications: supplementary 290. Recognition orders 290ZA. Variation of central counterparty recognition order 290ZB. Variation of CSD recognition order 290A. Refusal of recognition on ground of excessive regulatory provision 291. Liability in relation to recognised body's regulatory functions 292. Overseas investment exchanges and overseas clearing houses Publication of information by recognised investment exchange (s. 292A)292A. Publication of information by recognised investment exchange Supervision (ss. 293-300)293. Notification requirements 293A. Information: compliance with specified requirements 294. Modification or waiver of rules 295. Notification: overseas investment exchanges and overseas clearing houses 295A. On-site inspection of United Kingdom branches of third country CSDs 296. Appropriate regulator's power to give directions 296A. Additional power to direct recognised central counterparties 297. Revoking recognition 298. Directions and revocation: procedure 299. Complaints about recognised bodies 300. Extension of functions of Tribunal Power to disallow excessive regulatory provision (ss. 300A-300H)300A. Power of appropriate regulator to disallow excessive regulatory provision 300B. Duty to notify proposal to make regulatory provision 300C. Restriction on making provision before appropriate regulator decides whether to act 300D. Consideration by appropriate regulator whether to disallow proposed provision 300E. Power to disallow excessive regulatory provision: supplementary General rule-making powers (ss. 300F-300H)300F. Rules relating to central counterparties and central securities depositories 300G. Section 300F: rules in relation to overseas FMI entities 300H. Rules relating to investment exchanges and data reporting service providers Bank of England rules (ss. 300I-300M)300I. Duty of Bank of England to review rules 300J. Statement of policy relating to review of rules 300K. Requirement to review specified rules 300L. Report on certain reviews 300M. Power of Treasury to require making of rules by regulations Other matters (s. 301)301. Supervision of certain contracts Chapter IA Control Over Recognised Investment Exchange (ss. 301A-301M)Notices of acquisitions of control over recognised investment exchanges (ss. 301A-301C)301A. Obligation to notify the FCA: acquisitions of control 301B. Requirements for section 301A notices 301C. Acknowledgment of receipt Acquiring and increasing control (ss. 301D-301E)301D. Acquiring and increasing control 301E. Disregarded holdings Assessment procedure (ss. 301F-301H)301F. Assessment: general 301G. Assessment: Procedure 301H. Duration of approval Enforcement procedures (ss. 301I-301K)301I. Objections by the FCA 301J. Restriction notices 301K. Orders for sale of shares Offences (s. 301L)301L. Offences under this Chapter Interpretation (s. 301M)301M. Interpretation Chapter II Competition Scrutiny (ss. 302-310)302. Interpretation Role of Office of Fair Trading (ss. 303-305)303. Initial report by OFT 304. Further reports by OFT 305. Investigations by OFT Role of Competition Commission (s. 306)306. Consideration by Competition Commission Role of the Treasury (ss. 307-310)307. Recognition orders: role of the Treasury 308. Directions by the Treasury 309. Statements by the Treasury 310. Procedure on exercise of certain powers by the Treasury Chapter IIA Performance of Functions of Recognised Bodies (ss. 309A-309Z8)Relevant recognised bodies (s. 309A)309A. Recognised bodies to which this Chapter applies Prohibition (ss. 309B-309F)309B. Part 18 prohibition orders 309C. Procedure for making Part 18 prohibition orders 309D. Varying and withdrawing Part 18 prohibition orders 309E. Offence of breaching prohibition 309F. Duty in relation to prohibited individuals Approval (s. 309G-309X)309G. Requirement for approval 309H. Rules under section 309G(3): transitional provision 309I. Applications for approval 309J. Vetting by relevant recognised bodies 309K. Determining applications: power to grant approval 309L. Determining applications: period for approval 309M. Determining applications: further procedure 309N. Changes in responsibilities 309O. Withdrawing approval 309P. Procedure for withdrawing approval 309Q. Varying approval at request of relevant recognised body 309R. Varying approval on the appropriate regulator's initiative 309S. Statement of policy on approval 309T. Breach of statutory duty by relevant recognised bodies 309U. Power to impose penalties 309V. Procedure for imposing penalties 309W. Statement of policy on penalties 309X. Procedure for statement of policy on penalties Certification of employees (ss. 309Y-309Z)309Y. Certification of employees by relevant recognised bodies 309Z. Issuing certificates Rules of conduct (s. 309Z1)309Z1. Rules of conduct Disciplinary action by appropriate regulator (ss. 309Z2--309Z6)309Z2. Power to take disciplinary action for misconduct 309Z3. Meaning of "misconduct"309Z4. Procedure for disciplinary action 309Z5. Statement of policy about disciplinary action 309Z6. Procedure for statement of policy about disciplinary action Interpretation (s. 309Z7)309Z7. Interpretation of Chapter 2A Application of this Chapter to credit rating agencies (s. 309Z8)309Z8. Power to apply this Chapter to credit rating agencies Chapter III Exclusion from the Competition Act 1998 (ss. 311-312)311. The Chapter I prohibition 312. The Chapter II prohibition Chapter IIIA Passport Rights (ss. 312A-312D)EEA market operators in United Kingdom (ss. 312A-312B)312A. Exercise of passport rights by EEA market operator 312B. Removal of passport rights from EEA market operator Recognised investment exchanges operating in EEA States (other than the United Kingdom) (s. 312C)312C. Exercise of passport rights by recognised investment exchange Interpretation (s. 312D)312D. Interpretation of Chapter IIIA Chapter IIIB Disciplinary measures in respect of recognised bodies (ss. 312E-312K)312E. Public censure 312F. Financial penalties 312FA. Central securities depositories: further disciplinary measures 312G. Proposal to take disciplinary measures 312H. Decision notice 312I. Publication 312J. Statement of policy 312K. Statement of policy: procedure Chapter IIIC Critical third parties (ss. 312L-312W)312L. Critical third parties 312M. Power to make rules 312N. Power of direction 312O. Directions: procedure 312P. Information gathering and investigations 312Q. Power of censure 312R. Disciplinary measures 312S. Procedure and right to refer to Tribunal 312T. Statement of policy relating to disciplinary measures 312U. Duty to ensure co-ordinated exercise of functions etc 312V. Memorandum of understanding 312W. Application of provisions of this Act to this Chapter Chapter IV (s. 313)Interpretation (s. 313)313. Interpretation of Part XVIII Part XVIIIA Suspension and Removal of Financial Instruments From Trading (ss. 313A-313D)313A. FCA's power to require suspension or removal of financial instruments from trading 313B. Suspension or removal of financial instruments from trading: procedure 313BA. Procedure following consideration of representations 313BB. Revocation of requirements: applications by institutions 313BC. Decisions on applications for revocation by institutions 313BD. Revocation of requirements: applications by issuers 313BE. Decisions on applications for revocation by issuers 313C. Notification in relation to suspension or removal of a financial instrument from trading 313CA. Suspension or removal of financial instruments from trading: notification and trading on other venues 313CB. Suspension or removal of a financial instrument from a trading by a trading venue: FCA duties 313CC. Suspension or removal of a financial instrument from trading in another EEA state: FCA duties 313D. Interpretation of Part 18A Part XIX Lloyd's (ss. 314-324)General (ss. 314-314A)314. Regulators' general duty 314A. The PRA's objectives in relation to Lloyd's etc The Society (s. 315)315. The Society: regulated activities Power to apply Act to Lloyd's underwriting (ss. 316-319)316. Direction by a regulator 317. The core provisions 318. Exercise of powers through Council 319. Consultation Former underwriting members (ss. 320-322)320. Former underwriting members 321. Requirements imposed under section 320 322. Rules applicable to former underwriting members Transfers of business done at Lloyd's (s. 323)323. Transfer schemes Supplemental (s. 324)324. Interpretation of this Part Part XX Provision of Financial Services by Members of the Professions (ss. 325-333)325. FCA's general duty 326. Designation of professional bodies 327. Exemption from the general prohibition 328. Directions in relation to the general prohibition 329. Orders in relation to the general prohibition 330. Consultation 331. Procedure on making or varying orders under section 329 332. Rules in relation to persons to whom the general prohibition does not apply 333. False claims to be a person to whom the general prohibition does not apply Part XXA Pensions Guidance (ss. 333A-333R)333A. Introduction and definitions Giving of pensions guidance (ss. 333B-333D)333B. Secretary of State's role in relation to pensions guidance 333C. Giving of pensions guidance 333D. Financial assistance to bodies involved in giving pensions guidance Designation of guidance providers (s. 333E)333E. Designation of providers of pensions guidance Co-operation and information sharing (s. 333F)333F. Co-operation and information sharing False claims when giving pensions guidance (s. 333G)333G. Offence of falsely claiming to be giving pensions guidance under arrangements made with Secretary of State Standards for giving of pensions guidance by designated guidance providers (ss. 333H-333N)333H. Standards for giving of pensions guidance by designated guidance providers 333I. Monitoring of compliance with standards by designated guidance providers 333J. Failure by designated guidance providers to comply with standards: FCA recommendations 333K. FCA policy on making recommendations under section 333J 333L. FCA policy on making recommendations under section 333J: procedure 333M. Failure by designated guidance providers to comply with standards: directions 333N. Directions to designated guidance providers under section 333M: relationship with power to revoke a designation FCA's duties and power to give guidance (ss. 333O-333P)333O. FCA's duties 333P. Power of the FCA to give guidance Funding of pensions guidance (ss. 333Q-333R)333Q. Funding of FCA's pensions guidance costs 333R. Funding of Secretary of State's pensions guidance costs Part XXB Illegal money lending (ss. 333S-333T)333S. Financial assistance for action against illegal money lending 333T. Funding of action against illegal money lending Part XXC Politically exposed persons: money laundering and terrorist financing (s. 333U)333U. Money laundering and terrorist financing: guidance Part XXI Mutual Societies (ss. 334-339)Friendly societies (ss. 334-335)334. The Friendly Societies Commission 335. The Registry of Friendly Societies Building societies (ss. 336-337)336. The Building Societies Commission 337. The Building Societies Investor Protection Board Industrial and provident societies and credit unions (s. 338)338. Industrial and provident societies and credit unions Supplemental (ss. 339)339. Supplemental provisions Part XXII Auditors and Actuaries (ss. 339A-346)General duties of regulator (ss. 339A-339C)339A. General duties of PRA in relation to auditors 339B. Duty to meet auditors of certain institutions 339C. PRA-authorised persons to which this section applies Appointment (s. 340)340. Appointment Information (ss. 341-344)341. Access to books etc.342. Information given by auditor or actuary to a regulator 343. Information given by auditor or actuary to a regulator: persons with close links 344. Duty of auditor or actuary resigning etc. to give notice Disciplinary measures (ss. 345-345E)345. Disciplinary measures: FCA 345A. Disciplinary measures: PRA 345B. Procedure and right to refer to Tribunal 345C. Duty on publication of statement 345D. Imposition of penalties on auditors or actuaries: statement of policy 345E. Statements of policy: procedure Offence (s. 346)346. Provision of false or misleading information to auditor or actuary Part XXIII Public Record, Disclosure of Information and Co-operation (ss. 347-354H)The public record (ss. 347-347A)347. The record of authorised persons etc.347A. Duty of PRA to disclose information relevant to the record Disclosure of information (ss. 348-353)348. Restrictions on disclosure of confidential information by FCA, PRA etc.349. Exceptions from section 348 350. Disclosure of information by the Inland Revenue 351. Competition information 351A. Disclosure under the UCITS directive 352. Offences 353. Removal of other restrictions on disclosure Information received from Bank of England (s. 353A)353A. Information received from Bank of England Co-operation (ss. 354A-354C)354. Authority's duty to co-operate with others [Substituted with ss. 354A-354C]354A. FCA's duty to co-operate with others 354B. PRA's duty to co-operate with others 354C. PRA's duty to provide information to Bank of England Provision of information to ESMA, the Commission and other EEA States (ss. 354D-354H)354D. Information under the markets in financial instruments directive 354E. Competent authorities under the markets in financial instruments directive: designation and co-operation 354F. Information under the transparency obligations directive 354G. Information under the UCITS directive 354H. Information under the Insurance Distribution Directive Part XXIV Insolvency (ss. 355-379A)Interpretation (s. 355)355. Interpretation of this Part Arrangements and reconstructions: companies in financial difficulty (ss. 355A-355B)355A. Powers of FCA and PRA to participate in proceedings 355B. Enforcement of requirements imposed by section 355A Voluntary arrangements (ss. 356-358)356. Powers of FCA and PRA to participate in proceedings: company voluntary arrangements 357. Powers of FCA and PRA to participate in proceedings: individual voluntary arrangements 358. Powers of FCA and PRA to participate in proceedings: trust deeds for creditors in Scotland Administration orders (ss. 359-362A)359. Administration order 360. Insurers 361. Administrator's duty to report to FCA and PRA 362. Powers of FCA and PRA to participate in proceedings 362A. Administrator appointed by company or directors Receivership (ss. 363-364)363. Powers of FCA and PRA to participate in proceedings 364. Receiver's duty to report to FCA and PRA Voluntary winding up (ss. 365-366)365. Powers of FCA and PRA to participate in proceedings 366. Insurers effecting or carrying out long-term contracts or insurance Winding up by the court (ss. 367-371)367. Winding-up petitions 367A. Winding-up petitions: Gibraltar-based persons 368. Winding-up petitions: EEA and Treaty firms 369. Insurers: service of petition etc. on FCA and PRA 369A. Reclaim funds: service of petition etc on FCA and PRA 370. Liquidator's duty to report to FCA and PRA 371. Powers of FCA and PRA to participate in proceedings Bankruptcy (ss. 372-374)372. Petitions 373. Insolvency practitioner's duty to report to FCA and PRA 374. Powers of FCA or PRA to participate in proceedings Provisions against debt avoidance (s. 375)375. Right of FCA and PRA to apply for an order Supplemental provisions concerning insurers (ss. 376-379)376. Continuation of contracts of long-term insurance where insurer in liquidation 377. Reducing the value of contracts instead of winding up 377A. Write-down orders 377B. Excluded liabilities 377C. Application for a write-down order 377D. Powers of the FCA and PRA to participate in proceedings 377E. Powers of the court 377F. Duty to notify creditors 377G. The manager 377H. Write-down order ceasing to have effect 377I. Variation or revocation of a write-down order 377J. Further provision about write-down orders 377K. Insurers in financial difficulties: enforcement of contracts 378. Treatment of assets on winding up 379. Winding-up rules Settlement finality (s. 379A)379A. Power to apply settlement finality regime to payment institutions Part XXV Injunctions and Restitution (ss. 380-386)Injunctions (ss. 380-381)380. Injunctions 381. Injunctions in cases of market abuse Restitution orders (ss. 382-383)382. Restitution orders 383. Restitution orders in cases of market abuse Restitution required by FCA or PRA (ss. 384-386)384. Power of FCA or PRA to require restitution 385. Warning notices 386. Decision notices Part XXVI Notices (ss. 387-396)Warning notices (s. 387)387. Warning notices Decision notices (s. 388)388. Decision notices Conclusion of proceedings (ss. 389-390)389. Notices of discontinuance 390. Final notices Publication (ss. 391-391F)391. Publication 391A. Publication: special provisions relating to capital requirements 391B. Publication: special provisions relating to transparency obligations 391C. Publication: special provisions relating to UCITS 391D. Publication: special provisions relating to markets in financial instruments 391E. Publication: special provisions relating to insurance distribution 391F. Publication: special provisions relating to the prospectus regulation Third party rights and access to evidence (ss. 392-394)392. Application of sections 393 and 394 393. Third party rights 394. Access to FCA or PRA material The FCA's and PRA's procedures (ss. 395-396)395. The FCA's and PRA's procedures 396. Statements under section 395: consultation Part XXVII Offences (ss. 397-403)Miscellaneous offences (s. 397-399)397. Misleading statements and practices 398. Misleading FCA or PRA: residual cases 399. Misleading the CMA Bodies corporate and partnerships (s. 400)400. Offences by bodies corporate etc.Institution of proceedings (ss. 401-403)401. Proceedings for offences 402. Power of FCA to institute proceedings for certain other offences 403. Jurisdiction and procedure in respect of offences Part XXVIII Miscellaneous (ss. 404-416B)Consumer redress schemes (ss. 404-404G)404. Consumer redress schemes 404A. Rules under s.404: supplementary 404B. Complaints to the ombudsman scheme 404C. Enforcement 404D. Applications to Tribunal to quash rules or provision of rules 404E. Meaning of "consumers"404F. Other definitions etc 404G. Power to widen the scope of consumer redress schemes Third countries (ss. 405-409)405. Directions 406. Interpretation of section 405 407. Consequences of a direction under section 405 408. EFTA firms 409. Gibraltar International powers and obligations (ss. 409A-410)409A. Consultation in relation to deference decisions 409B. Notification in relation to international trade obligations 410. International obligations Fees to meet Treasury expenses (ss. 410A-410B)410A. Fees to meet certain expenses of the Treasury 410B. Directions in pursuance of section 410A Tax treatment of levies and repayments (s. 411)411. Tax treatment of levies and repayments Gaming contracts (ss. 412)412. Gaming contracts Trade-matching and reporting systems (ss. 412A-412B)412A. Approval and monitoring of trade-matching and reporting systems 412B. Procedure for approval and suspension or withdrawal of approval Limitation on powers to require documents (s. 413)413. Protected items Service of notices (s. 414)414. Service of notices Jurisdiction (s. 415)415. Jurisdiction in civil proceedings Powers under the Act (ss. 415A-415AA)415A. Powers under the Act 415AA Application of powers to formerly authorised persons Consultation and co-operation (ss. 415B-415C)415B. Consultation in relation to taking certain enforcement action 415C. Co-operation and consultation in relation to exercise of functions Removal of certain unnecessary provisions (s. 416)416. Provisions relating to industrial assurance and certain other enactments Sustainability disclosure requirements (ss. 416A-416B)416A. SDR policy statement 416B. FCA and PRA rules etc Part XXIX Interpretation (ss. 417-425C)417. Definitions 418. Carrying on regulated activities in the United Kingdom 419. Carrying on regulated activities by way of business 419A. Claims management services 419B. Carrying on claims management activity in Great Britain 420. Parent and subsidiary undertaking 421. Group 421ZA. Immediate group 421A. Meaning of "participating interest"422. Controller 422A. Disregarded holdings 423. Manager 423A. Mortgage agreements etc 424. Insurance 424A. Investment firm 425. Expressions relating to authorisation in the single market 425A. Consumers: regulated activities etc carried on by authorised persons 425B. Consumers: regulated activities carried on by others 425C. Qualifying provision Part XXX Supplemental (ss. 426-433)426. Consequential and supplementary provision 427. Transitional provisions 428. Regulations and orders 429. Parliamentary control of statutory instruments 430. Extent 431. Commencement 432. Minor and consequential amendments, transitional provisions and repeals 433. Short title Schedule 1 The Financial Services Authority [Substituted with new Schedule 1ZA and Schedule 1ZB]Schedule 1, Part I General (paras. 1-12) [Substituted with new Schedule 1ZA and Schedule 1ZB]Schedule 1, Part II Status (paras. 13-15) [Substituted with new Schedule 1ZA and Schedule 1ZB]Schedule 1, Part III Penalties and Fees (paras. 16-18) [Substituted with new Schedule 1ZA and Schedule 1ZB]Schedule 1, Part IV Miscellaneous (paras. 19-21) [Substituted with new Schedule 1ZA and Schedule 1ZB]Schedule 1ZA The Financial Conduct Authority Schedule 1ZA, Part 1 General (paras. 1-15)Schedule 1ZA, Part 2 Status (paras. 16-18)Schedule 1ZA, Part 3 Penalties and fees (paras. 19-24)Schedule 1ZA, Part 4 Miscellaneous (paras. 25-29)Schedule 1ZB The Prudential Regulation Authority Schedule 1ZB, Part 1 General (paras. 1-23)Schedule 1ZB, Part 2 Status (paras. 24-26)Schedule 1ZB, Part 3 Penalties and fees (paras. 27-32)Schedule 1ZB, Part 4 Miscellaneous (paras. 33-37)Schedule 1A Further provision about the consumer financial education body Schedule 1A, Part I General (paras. 1-10)Schedule 1A, Part II Funding (paras. 11-14)Schedule 1A, Part III Reviews (paras. 15-16)Schedule 2 Regulated Activities Schedule 2, Part I Regulated activities: general (paras. 1-9)Schedule 2, Part IA Regulated activities: reclaim funds (para. 9A)Schedule 2, Part II Investments (paras. 10-24)Schedule 2, Part IIA Regulated activities relating to information about persons' financial standing (paras. 24A-24D)Schedule 2, Part IIB Regulated activities relating to the setting of benchmarks (paras. 24E-24H)Schedule 2, Part III Supplemental Provisions (paras. 25-27)Schedule 2A Gibraltar-based persons carrying on activities in the UK Schedule 2A, Part 1 Interpretation etc (paras. 1-4)Schedule 2A, Part 2 Approved Activities (paras. 5-11)Schedule 2A, Part 3 Permission to carry on an Approved Activity (paras. 12-20)Schedule 2A, Part 4 Variation of Permission (paras. 21-30)Schedule 2A, Part 5 Cancellation of Permission (paras. 31-39)Schedule 2A, Part 6 Requirements (paras. 40-55)Schedule 2A, Part 7 Changes (para. 56)Schedule 2A, Part 8 UK Regulators' Directions About Information (para. 57)Schedule 2A, Part 9 Transition on withdrawal of approval of regulated activity etc (paras. 58-63)Schedule 2A, Part 10 Transition on Cancellation of UK or Gibraltar Permission (paras. 64-70)Schedule 2A, Part 11 Policy statements (paras. 71-72)Schedule 2A, Part 12 Consultation etc by UK Regulators (paras. 73-79)Schedule 2A, Part 13 Co-Operation and Assistance (paras. 80-82)Schedule 2A, Part 14 Special Cases (para. 83)Schedule 2B UK-Based Persons Carrying on Activities in Gibraltar Schedule 2B, Part 1 Interpretation (paras. 1-5)Schedule 2B, Part 2 Permission Required to Carry on Activities in Gibraltar (paras. 6-11)Schedule 2B, Part 3 Variation of Permission (paras. 12-19)Schedule 2B, Part 4 Cancellation of Permission (para. 20)Schedule 2B, Part 5 Public Record, Consultation and Consent (paras. 21-23)Schedule 2B, Part 6 Special Cases (para. 24)Schedule 3 EEA Passport Rights Schedule 3, Part I Defined terms (paras. 1-11D)Schedule 3, Part II Exercise of Passport Rights by EEA Firms (paras. 12-18)Schedule 3, Part III Exercise of Passport Rights by UK Firms (paras. 18A-29)Schedule 4 Treaty Rights Schedule 5 Persons Concerned in Collective Investment Schemes Schedule 6 Threshold Conditions Schedule 6, Part I Part IV Permission [Substituted with new Parts 1-1G]Schedule 6, Part 1 Introduction (para. 1A)Schedule 6, Part 1B Part 4A permission: authorised persons who are not PRA-authorised persons (paras. 2A-2G)Schedule 6, Part 1C Part 4A permission: conditions for which FCA is responsible in relation to PRA-authorised persons (paras. 3A-3E)Schedule 6, Part 1D Part 4A permission: conditions for which the PRA is responsible in relation to insurers etc. (paras. 4A-4F)Schedule 6, Part 1E Part 4A permission: conditions for which the PRA is responsible in relation to other PRA-authorised persons (paras. 5A-5F)Schedule 6, Part 1F Authorisation under Schedule 3 (para. 6A)Schedule 6, Part 1G Authorisation under Schedule 4 (para. 7A)Schedule 6, Part II Authorisation [Substituted with new Parts 1-1G]Schedule 6, Part III Additional Conditions (paras. 8-9)Schedule 6A Variation or cancellation of Part 4A permission on initiative of FCA: additional power Schedule 6B Designated activities Draft Schedule 6C Listed Designated Activity Regulations and Requirements for Purposes of Certain Provisions Draft Schedule 6C, Part 1 Provisions Designating Relevant Designated Activities Daft Schedule 6C, Part 2 Relevant Part 5A Requiremets for Purposes of Specified Provisions Draft Schedule 6C, Part 3 Relevant Part 5A Directions for Purposes of Chapter 2 of Part 5A Schedule 7 The Authority as Competent Authority for Part VI Schedule 8 Transfer of functions under Part VI Schedule 9 Non-listing Prospectuses Schedule 10 Compensation: Exemptions Schedule 10A Liability of issuers in connection with published information Schedule 10A, Part 1 Scope of this Schedule (paras. 1-2)Schedule 10A, Part 2 Liability in connection with published information (paras. 3-7)Schedule 10A, Part 3 Supplementary provisions (para. 8)Schedule 11 Offers of Securities Schedule 11A Transferable Securities Schedule 11A, Part 1 (paras. 1-6)Schedule 11A, Part 2 (paras. 7-9)Schedule 11B Connected Persons Schedule 11B, Part 1 Meaning of "Connected Person" (paras. 1-6)Schedule 11B, Part 2 Connected Persons: References to an Interest in Shares or Debentures (paras. 7-12)Schedule 12 Transfer Schemes: Certificates Schedule 12, Part I Insurance Business Transfer Schemes (paras. 1-6)Schedule 12, Part II Banking Business Transfer Schemes (paras. 7-9)Schedule 12, Part IIA Reclaim fund business transfer schemes (para. 9A)Schedule 12, Part IIB Ring-fencing transfer schemes (paras. 9B-9D)Schedule 12, Part III Insurance Business Transfers Effected Outside the United Kingdom (para. 10)Schedule 13 The Financial Services and Markets Tribunal Schedule 13, Part I General (para. 1)Schedule 13, Part II The Tribunal (paras. 2-6)Schedule 13, Part III Constitution of Tribunal (para. 7)Schedule 13, Part IV Tribunal Procedure (paras. 8-13)Schedule 14 Role of the Competition Commission Schedule 15 Information and Investigations: Connected Persons Schedule 15, Part I Rules for Specific Bodies (paras. 1-7)Schedule 15, Part II Additional Rules (para. 8)Schedule 16 Prohibitions and Restrictions Imposed by Office of Fair Trading Schedule 17 The Ombudsman Scheme Schedule 17, Part I General (para. 1)Schedule 17, Part II The Scheme Operator (paras. 2-11)Schedule 17, Part III The Compulsory Jurisdiction (paras. 12-16)Schedule 17, Part IIIA The consumer credit jurisdiction (paras. 16A-16G)Schedule 17, Part IV The Voluntary Jurisdiction (paras. 17-22)Schedule 17A Further provision in relation to exercise of Part 18 functions, or other FMI functions, by Bank of England Schedule 17A, Part 1 Co-operation between appropriate regulators (paras. 1-8)Schedule 17A, Part 2 Application of provisions of this Act in relation to Bank of England (paras. 9-33B)Schedule 17A, Part 3 Winding up, Administration or Insolvency of recognised clearing houses (paras. 34-35)Schedule 17A, Part 4 Fees (paras. 36-37)Schedule 18 Mutuals Schedule 18, Part I Friendly Societies (paras. 1-8)Schedule 18, Part II Friendly Societies: Subsidiaries and Controlled Bodies (paras. 9-16)Schedule 18, Part III Building Societies (paras. 17-18)Schedule 18, Part IV Industrial and Provident Societies (paras. 19-20)Schedule 18, Part V Credit Unions (paras. 21-26)Schedule 19 Competition Information Schedule 19, Part I Persons and functions for the purposes of section 351 (para. 1)Schedule 19, Part II The Enactments (paras. 1-19)Schedule 19A The manager of a write-down order Schedule 19B Further provision about write-down orders Schedule 19B, Part 1 Restrictions on enforcement (paras. 1-3)Schedule 19B, Part 2 Dealing with assets etc (paras. 4-7)Schedule 19B, Part 3 Treatment of written-down liabilities for certain purposes (paras. 8-10)Schedule 19B, Part 4 Interest (para. 11)Schedule 19C Insurers in financial difficulties: enforcement of contracts Schedule 19C, Part 1 Introductory (paras. 1-2)Schedule 19C, Part 2 Policyholder surrender rights (paras. 3-5)Schedule 19C, Part 3 Termination etc of relevant contracts (paras. 6-8)Schedule 19C, Part 4 Exclusions and disapplication of this schedule (paras. 9-11)Schedule 19C, Part 5 Powers to amend this schedule (para. 12)Schedule 20 Minor and Consequential Amendments Schedule 21 Transitional Provisions and Savings Schedule 22 Repeals

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Version status: Partly in force | Document consolidation status: Updated to reflect all known changes

Version date: 30 January 2024 - onwards

97. Appointment by FCA of persons to carry out investigations

(1) Subsection (2) applies if it appears to the FCA that there are circumstances suggesting that -

(a) there may have been a contravention of -

(i) a provision of this Part or of Part 6 rules, or

(ii) any other provision of qualifying transparency legislation,

(iii) [deleted]

(b) a person who was at the material time a director of a person mentioned in section 91(1), or section 91(1B) [Section 91(1B) was inserted by the Companies Act 2006, Schedule 15 paragraph 6, and amended by the Financial Services Act 2012, section 16.] (ignoring paragraph (a)(i) of that provision), has been knowingly concerned in a contravention by that person of -

(i) a provision of this Part or of Part 6 rules, or

(ii) any other provision of qualifying transparency legislation,

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