Securities Markets Order, 2013 · As enacted · Part II
30. (1)
Official textFrom Attorney General's Chambers, unchanged
The Authority is not obliged to investigate a complaint in accordance with the complaints scheme which it reasonably thinks would be more appropriately dealt with by referring the matter to the Panel, or by the institution of legal proceedings, as the case may be.
The complaints scheme must provide
for reference to the investigator of any complaint which the
Authority is investigating; and
for the investigator -
to have the means to conduct a full investigation of the complaint;
to report on the result of his investigation to the Authority and the complainant; and
to be able to publish his report [or any part of it) if he considers that it (or the part) ought to be brought to the attention of the public.
If the Authority decides not to investigate a complaint, it must notify the investigator of that decision.
\4)
If the investigator thinks that a complaint of which he has been notified under subsection (3) ought to be investigated, he may proceed as if the complaint had been referred to him under the complaints scheme.
The complaints scheme must confer on the investigator the power to recommend if he thinks fit, that the Authority -
makes a compensatory payment to the complainant; or 1264
(b} remedies the matter complained of, or takes both of the steps under paragraphs {a} and {b).
\6)
The complaints scheme must require the Authority, in a case where the investigator -
{a}
has reported that a complaint is well-founded; or
{b)
has criticised the Authority in his·report, to inform the investigator and the complainant of the steps which it proposes to take in response to the report.
The investigator may require the Authority to publish the whole or a specified part of the response.
The investigator may appoint a person to conduct the investigation on his behalf but subject to his direction.
Neither an officer nor an employee of the Authority may be appointed under subsection (8).
( 10) Subsection
does not prevent the Authority from making arrangements for the initial investigation of a complaint to be conducted by the
Authority.
Record keeping.
Part III
Market Operators and Market Infrastructure
Part IV
Self-Regulating Organisations
Part X
Part X.
Part VI
Public Company Statements and Reporting Requirements
Part VII
Capital Markets Services Licence and Representative'S Licence
Part VIII
Books, Audit and Client'S Assets
Part IX
Part X
Intervention Powers of Authority
Part XI
Complaints Committee and Investor Compensation Scheme
Part XII
Financial Markets Services Panel
Part XIII