SCHEDULES
SCHEDULE 12Amendments of Parts 11 and 23 of FSMA 2000
PART 1Part 11 of FSMA 2000: information gathering and investigations
1
1
Section 165 (power to require information) is amended as follows.
2
In subsection (1), for “The Authority” substitute “Either regulator”.
3
In subsection (3), for “Authority” substitute “regulator”.
4
In subsection (4), for “the Authority” substitute “either regulator”.
5
In subsections (5) and (6) for “The Authority”, in each place, substitute “The regulator in question”.
6
In subsection (7), for the words from “exercised” to the end substitute
exercised—
a
by either regulator, to impose requirements on a person who is connected with an authorised person;
b
by the FCA, to impose requirements on an operator, trustee or depositary of a scheme recognised under section 270 or 272 who is not an authorised person;
c
by the FCA, to impose requirements on a recognised investment exchange;
d
by the FCA, to impose requirements on a person who is connected with a recognised investment exchange.
7
In subsection (9)—
a
for “the Authority”, in the first place, substitute “the regulator exercising the power”,
b
for “the Authority's” substitute “that regulator's”, and
c
for “the Authority”, in the second place, substitute “that regulator”.
8
In subsection (11)—
a
in the opening words, for “an authorised person” substitute “another person”, and
b
in paragraph (d), at the end insert “(reading references in that Part to the authorised person as references to A)”.
9
In the heading, for “Authority's” substitute “Regulators'”.