Page 440 - IOM Law Society Rules Book

c.8 Financial Services Act 2008 143

34. (1) Subject to subsection (2), the Commission may, in Mutual
relation to a regulated activity, enter into mutual assistance assistance
agreements with a regulatory authority.

(2) The powers conferred on the Commission by Schedule 2
may, without prejudice to their generality, be exercised for the purpose
of assisting any such authority in the exercise of its functions.

(3) At the request of a regulatory authority, the Commission
may investigate any circumstances referred to in the request and
for that purpose, the powers conferred on the Commission by
Schedule 2 may, without prejudice to their generality, be exercised
for the purpose of assisting the requesting authority in the exercise
of its functions.

(4) Subsections (1) to (3) shall not permit the disclosure of
any information relating to the affairs of a customer otherwise
than in accordance with Schedule 5.

35. (1) The Commission shall keep a register of — Registers

(a) former and current licenceholders; and

(b) classes of persons who are exempt from any provision
of this Act under section 44(2) ;

and in this Act such persons are referred to collectively as
“permitted persons”.

(2) The Commission shall also keep a register of directions
given under section 10.

(3) The registers to be kept under this section —

(a) shall contain such information; and

(b) shall be available for public inspection at such times,
in such manner and by such means,

as may be prescribed in regulations made under section 44.

Chapter II

Offences, etc.

36. (1) Any person (“A”) who — Fraudulent
inducement
(a) makes a statement, promise or forecast which A knows to make a
deposit
to be misleading, false or deceptive; or