ENF 21.2 The FSA's powers to appoint an investigator

Under section 97 of the Act (Appointment by competent authority of persons to carry out investigations), the FSA may appoint one or more competent persons to conduct an investigation on its behalf if it appears to the FSA that there are circumstances suggesting that:

1. (1)

   there may have been a contravention of a provision of Part VI of the Act or of Part 6 rules or a provision otherwise made in accordance with the Prospectus Directive;

2. (2)

   a person who was at the material time a person mentioned in section 91(1) or (1A) of the Act has been knowingly concerned in a contravention of a provision of Part VI of the Act or of Part 6 rules or a provision otherwise made in accordance with the Prospectus Directive by that person; or

3. (3)

   there may have been a breach of sections 85 or 87G of the Act.

An investigator appointed under section 97 is treated under the Act as if they were appointed under section 167(1). It follows that an investigator appointed under section 97 will have the powers of a section 167 investigator, as outlined in ENF 2.4.