Entire Section

  • Chapter 2 — Chapter 2 — The Conduct of Investigations

    • 78. Power of the DFSA to conduct an investigation

      (1) The DFSA may conduct such investigation as it considers appropriate and expedient under Chapter 2 of Part 5:
      (a) where it has reason to suspect that a contravention of the Law or of the Rules or of any other legislation administered by the DFSA is being or may have been committed; or
      (b) further to a request made under Article 39.
      (2) A person is entitled to legal representation during the course of an investigation.

    • 79. Costs of an Investigation

      (1) Subject to Article 79(2), the DFSA shall pay the costs and expenses of an investigation.
      (2) Where, as a result of an investigation under Chapter 2 of Part 5, a person is found by:
      (a) the DFSA;
      (b) the FMT; or
      (c) the Court,
      to have contravened a provision of the Law or of the Rules or of any other legislation administered by the DFSA, the FMT or the Court may order, on application brought by the DFSA, that the person pay or reimburse the DFSA in respect of the whole, or a specified part of, the costs and expenses of the investigation, including the remuneration of any officer involved in the investigation.
      (3) The FMT may make an order under Article 79(2), on an application by the DFSA, whether or not the person has commenced, or intends to commence, a reference to the FMT in relation to a decision of the DFSA.
      (4) The DFSA may apply to the Court for an order under Article 79(2) only where there is a proceeding before the Court relating to the alleged contravention by the person.

    • 80. Powers to Obtain Information and Documents for Investigation

      (1) Where the DFSA considers that a person is or may be able to give information or produce a document which is or may be relevant to an investigation, it may:
      (a) enter the business premises of such person during normal business hours for the purpose of inspecting and copying information or documents stored in any form on such premises;
      (b) require such person to give, or procure the giving of, specified information in such form as it may reasonably require;
      (c) require such person to produce, or procure the production of, specified documents;
      (d) require such person (the interviewee) to attend before an officer, employee or agent of the DFSA (the interviewer) at a specified time and place to answer questions in private (compulsory interview); or
      (e) require such person to give it any assistance in relation to the investigation which the person is able to give.
      (2) Where the DFSA exercises its power under Article 80(1)(a) to enter business premises, it may:
      (a) require any appropriate person to make available any relevant information stored at those premises for inspection or copying;
      (b) require any appropriate person to convert any relevant information into a form capable of being copied; and
      (c) use the facilities of the occupier of the premises, free of charge, to make copies.
      (3) Where the DFSA exercises its power under Article 80(1)(d) to conduct a compulsory interview, it may give a direction:
      (a) concerning who may be present;
      (b) preventing any person present during any part of the compulsory interview from disclosing to any other person any information provided to the interviewee or questions asked by the interviewer during the compulsory interview;
      (c) concerning the conduct of any person present, including as to the manner in which they will participate in the interview;
      (d) requiring the interviewee to swear an oath or give an affirmation that the answers of the interviewee will be true; and
      (e) requiring the interviewee to answer any questions relevant to the investigation.
      (4) A requirement made under Article 80 (1) (b),(c), (d), and (e) shall be stated in writing.
      (5) The DFSA may require the relevant person to give such information or produce such documents by the end of a reasonable period and at a place specified in the notice.
      (6) The DFSA may exercise its powers under Article 80 (1) in respect of any person within, or outside of, the DIFC provided that, if the person is outside the DIFC and is not a Regulated Person, the DFSA shall either:
      (a) use any arrangements it has with a regulatory authority in the jurisdiction in which the person is resident or domiciled, or the premises are located, to assist it to exercise the power; or
      (b) apply to the Court for an order compelling the person to provide the information, produce or procure the production of the documents, or answer questions, or permitting the DFSA to enter the premises of that person.
      (7) In Article 80(6), a Regulated Person means an Authorised Person, DNFBP, Fund, Auditor, Reporting Entity or any director, officer, employee or agent of such person.

    • 80A. Use and effect of Information and Documents obtained for an Investigation

      (1) Subject to Article 80A(2), information given or documents produced as a result of the exercise by the DFSA of powers under Article 80 is admissible in evidence in any proceedings, provided that any such information or document also complies with any requirements relating to the admissibility of evidence in such proceedings.
      (2) The DFSA shall not disclose a statement made by a person in answer to any question asked pursuant to a requirement made of the person under Article 80(1)(d) to any law enforcement agency for the purpose of criminal proceedings against the person unless:
      (a) the person consents to the disclosure; or
      (b) the DFSA is required by law or court order to disclose the statement.
      (3) The DFSA may retain possession of any information and documents given to it pursuant to a requirement made under Article 80(1) for so long as is necessary:
      (a) for the purposes of the investigation to which the notice relates;
      (b) for a decision to be made about whether or not a proceeding to which the information or documents would be relevant should be commenced; or
      (c) for such a proceeding to be completed.
      (4) A person is not entitled to claim a lien on any documents as a basis for failing to comply with a requirement made under Article 80(1), but any lien is not otherwise prejudiced.
      (5) Where a person is unable to produce information or documents in compliance with a requirement made under Article 80(1), the DFSA may require the person to state, to the best of that person's knowledge or belief, where the information or documents may be found and who last had possession, custody or control of the information or documents.
      (6) Where the DFSA considers that, if disclosed, the fact of the issuing of a notice requiring a person to:
      (a) produce documents;
      (b) give information;
      (c) attend a compulsory interview; or
      (d) give assistance;
      may hinder the investigation to which it relates, the DFSA may direct a person who receives a notice under Article 80(1) not to disclose the receipt of a notice or any information relating to compliance therewith to any other person, other than his legal representative under a duty of confidentiality.