SUP 5.2 The FCA’s power22
Who may be required to provide a report?
Under section 166 of the Act (Reports by skilled persons), the FCA1 may, by giving a written notice, itself appoint a skilled person to provide it with a report, or 2require any of the following persons to provide it with a report by a skilled person:
22- (1)
- (2)
- (3)
a partnership of which the firm is a member; or1
- (4)
a person who has at any relevant time been a person falling within (1), (2) or (3);
but only if the person is, or was at the relevant time, carrying on a business.
2Under section 166A of the Act (Appointment of skilled person to collect and update information), the FCA1 may require a firm to appoint, or itself appoint, a skilled person to collect or update information.