EFTA00022302.pdf

Type: pdf
Source set: data-set-8
Extracted text

The Decision Procedure and Penalties manual 
Chapter 7 
Statement of policy on 
interviews conducted on 
behalf of overseas and EEA 
regulators 
EFTA00022302


DEPP 7 : Statement of policy on 
interviews conducted on behalf 
of overseas and EEA... 
Section 7.2 : Interviews 
7.2.1 
G, 
7.2.2 
G 
7.2.3 
Gj 
7.2.4 
7.2.5 
7.2 
Interviews 
Appointment of investigator and confidentiality of information 
Under section 169(1)(b) and section 131FA of the Act, the FCA may appoint 
an investigator to investigate any matter at the request of an overseas 
regulator or EEA regulator. The powers of the investigator appointed by the 
FCA (referred to here as the 'FCA's investigator') include the power to 
require persons to attend at a specified time and place and answer questions 
(the compulsory interview power). 
Where the FCA appoints an investigator in response to a request from an 
overseas regulator or EEA regulator it may, under section 169(7) or section 
131FA of the Act, direct him to permit a representative of that regulator to 
attend and take part in any interviews conducted for the purposes of the 
investigation. The FCA may only give a direction under section 169(7) or 
section 131FA if it is satisfied that any information obtained by an overseas 
regulator or EEA regulator as a result of the interview will be subject to the 
safeguards equivalent to those contained in Part XXIII (Public Record, 
Disclosure of Information and Cooperation) of the Act. 
Part XXIII of the Act contains restrictions on the disclosure of confidential 
information. The restrictions are subject to exceptions contained in 
regulations made by the Treasury under section 349. 
Policy on use of investigative powers 
The FCA's policy on how it will use its investigative powers, including its 
power to appoint investigators, in support of overseas regulators and EEA 
regulators, is set out in the FCA's Enforcement Guide (EG). 
Use of direction powers 
The FCA may need to consider whether to use i…
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