Rahman Ravelli

This Practice Note covers the appointment of management receivers in restraint proceedings under section 48 (2) of the Proceeds of Crime Act 2002 and the powers they can be given. It deals with the procedure for applying for management receivers and how to vary a management receivership order under the Criminal Procedure Rules 2020, SI 2020/759 (CrimPR). It also deals with how to appeal against a decision to appoint or not to appoint a management receiver under the POCA 2002, s 65.

The Financial Conduct Authority (FCA) is likely to prefer to use its formal, statutory information gathering powers to require the production of documents and information, but there are certain situations where informal requests for documents and information are more effective, or necessary, for the overall integrity of an investigation. This Practice Note introduces the scenarios where an informal, voluntary approach tends to be used and the ways in which the FCA is able to request information from firms and individuals on a voluntary basis. This includes the voluntary provision of witness statements and internal investigation reports, as well as voluntary attendance at interview by suspects and non-suspects.

This Practice Note provides information on the various offences that can be committed by a firm or individual during the course of an investigation by the Financial Conduct Authority (FCA). This includes failure to comply with a document or information requirement; destroying, falsifying or concealing documents; providing information which is known to be false or misleading; or obstructing a search warrant.