205. Commencement of Investigations
Past version: effective from 20/10/2015 - 19/10/2015
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(1) If it appears to the Regulator that there is good reason for doing so, the Regulator may commence an investigation into —
(a) the nature, conduct or state of the Business of an Authorised Person or Recognised Body;
(b) a particular aspect of that Business;
(c) the ownership or control of an Authorised Person or Recognised Body; or
(d) a matter reasonably requested to be investigated pursuant to a request made under section 217.
(2) If the Regulator reasonably suspects that a person may have committed a contravention of these Regulations, the Regulator may commence an investigation into the matter.
(3) The Regulator may appoint one or more competent persons as Investigators to conduct an investigation on its behalf.
(4) The Regulator may but need not give written notice of the commencement of an investigation to the Person Under Investigation.
(5) If an Investigator thinks it necessary for the purposes of his investigation under subsections (1) or (2), he may also investigate the Business of a person who is or has, at any relevant time, been —
(a) a member of the Group of which the Person Under Investigation ("A") is part; or
(b) a Partnership of which A is a member.
(6) The power conferred by subsection (1)(a) to (c) may be exercised in relation to a former Authorised Person or former Recognised Body but only in relation to —
(a) Business carried on at any time when he was an Authorised Person or Recognised Body; or
(b) the ownership or control of a former Authorised Person or Recognised Body at any time when he was an Authorised Person or Recognised Body.
(7) Nothing prevents the Regulator from appointing a person who is a member of its staff as an Investigator under this section.
(8) References in subsection (1) to a Recognised Body do not include references to a Non-Abu Dhabi Global Market Recognised Investment Exchange.