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You are viewing the version of the document as on 2021-11-30.

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    2021-11-30

REC 6.8 Powers to supervise1

REC 6.8.1GRP

The FCA1 has similar powers to supervise ROIEs1 to those it has to supervise UK RIEs1. It may (in addition to any other powers it might exercise):

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  1. (1)

    give directions to an ROIE1 under section 296 of the Act (Authority's power to give directions) if it has failed, or is likely to fail, to satisfy the recognition requirements or if it has failed to comply with any other obligation imposed by or under the Act; or

    1
  2. (2)

    revoke a recognition order under section 297 of the Act (Revoking recognition) if an ROIE1 is failing, or has failed, to comply with the recognition requirements or any other obligation in or under the Act; or1

    11
  3. (3)

    require an ROIE or a person connected with the ROIE, under section 165 of the Act, to provide or produce specified information or information of a specified description, at a specified place and before the end of a reasonable period, in such form and with such verifications or authentications as it may reasonably require; or1

  4. (4)

    require any of the following persons, under section 166 of the Act, to provide the FCA with a report on any matter, or appoint a skilled person to provide the FCA with information or produce documents with respect to any matter:

    1. (a)

      the ROIE; or

    2. (b)

      any other member of the ROIE's group; or

    3. (c)

      a partnership of which the ROIE is a member; or

    4. (d)

      a person who has at any time been a person falling within (a), (b) or (c).

REC 6.8.2GRP

The FCA1 will follow the approach in REC 4.6, REC 4.7,1 REC 4.8, REC 4.2F and REC 4.2G1 if it is considering exercising these powers in relation to an ROIE1.

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