The FCA may appoint one or more competent persons to investigate any matter if it is requested to do so by—
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Sections 170 to 177 (which relate to investigations) apply in relation to an investigator appointed under subsection (1) as they apply in relation to an investigator appointed under section 168(5).
The FCA may direct an investigator appointed under subsection (1) to permit a representative of the authority making the request under subsection (1) ("the requesting regulator") to attend, and take part in, any interview conducted for the purposes of the investigation.
The FCA is not to give a direction under subsection (4) unless it is satisfied that any information obtained by the requesting regulator" as a result of the interview will be subject to safeguards equivalent to those contained in Part 23.
The FCA must prepare a statement of its policy with respect to the conduct of interviews in relation to which a direction under subsection (4) has been given.
The statement requires the approval of the Treasury.
If the Treasury approve the statement, the FCA must publish it.
No direction may be given under subsection (4) before the statement has been published.
The FCAmay at any time alter or replace a statement issued under subsection (6), and subsections (7) and (8) apply to an altered statement or to a replacement statement.