ENF 2 Annex 3 Summary of the FSA's information-gathering and investigation powers referred to in ENF 2.5

Description of the power

FSA's power to require information.

Reports by skilled persons.

Appointment of persons to carry out general investigations.

Appointment of persons to carry out investigations in particular cases.

Grounds

The information and documents required must be reasonably required in connection with the exercise by the FSA of functions conferred on it by or under the Act.

The report must be on any matter about which the FSA has required or could require the provision of information or production of documents under section 165.

It must appear to the FSA that there is good reason for appointing investigators.

It must appear to the FSA that there are circumstances suggesting that specified breaches, contraventions, market abuse or offences may have occurred.

Persons who may be subject of the information requirement /report/investigation

Firm/former firm.Person connected with firm/former firm.Operator etc. of recognised CIS.RIE or RCH.

Firm ("A").Any other member of A's group.Partnership of which A is a member.Person who has at any relevant time been a person falling within any of the three categories mentioned above.

Firm or appointed representative.Former firm or appointed representative (in relation to certain matters).Member of the group of which the person under investigation ("A") is part (if investigator thinks it necessary).Partnership of which A is a member (if investigator thinks it necessary).

A range of persons depending on the circumstances or suspected breaches.

Type of person who may exercise or be authorised or appointed under the power

FSA (by notice in writing).FSA officer (i.e an officer of the FSA, including a member of FSA staff or agent of the FSA).

Skilled person nominated or approved by the FSA.

Competent person (including FSA member of staff).

Competent person (including FSA member of staff).

Powers of FSA/information-gatherers/skilled persons/ investigators

To require information.

To require documents.

To require information to be verified.

To require documents to be authenticated.

To require explanations of documents.

No specific powers - but there is a duty on persons providing services to the subject of the report to provide all such assistance as the skilled person may reasonably require.

To require persons to attend and answer questions.

To require information.

To require documents.

To require explanations of documents.

To require persons to attend and answer questions.

To require information.

To require documents.

To require explanations of documents.

To require reasonable assistance (section 168(2) investigator only).