Overview
This Act provides the horizontal spine for investigations and information-gathering across all license families in Neves. It explains when and how the Neves Licensing Authority, NFSA and NGA may seek information, conduct inquiries and handle data, while setting clear expectations for fairness, confidentiality and cooperation.
Purpose of the Act
The Investigations & Information-Gathering Powers Act is intended to give a clear, consistent basis for how facts are established before decisions are taken under other sovereign Acts.
- Defines triggers and scope for investigations and inquiries.
- Sets out information-gathering tools available to competent bodies.
- Provides protections for confidential information and data use.
- Links investigations to supervision, enforcement and redress frameworks.
(1) This Act may be cited as the Investigations & Information-Gathering Powers Act, 2025.
(2) This Act shall come into operation on such date as may be appointed by Order of the Minister responsible for finance and financial services (“the Minister”) and published in the Official Gazette.
In this Act, unless the context otherwise requires—
- “Authority” means the Neves Licensing Authority established under the Neves Licensing Authority Establishment Act, 2025;
- “Board” means the Board of the Neves Licensing Authority;
- “competent body” means the Authority, the Neves Financial Services Authority (NFSA), the Neves Gaming Authority (NGA), or any other body designated under sovereign Act to exercise powers under this Act;
- “information” includes data, documents, records, systems outputs and any other material in written, electronic or other form;
- “investigation” means any structured fact-finding activity undertaken under this Act or another Act that refers to it;
- “licensee” has the meaning given in the Licensing & Authorisation Act, 2025;
- “relevant person” includes a director, officer, employee, shareholder, beneficial owner, service provider or other person with information relevant to an investigation.
(1) This Act shall be read together with and in addition to the Neves Licensing Authority Establishment Act, 2025, the AML / CFT & Financial Crime Prevention Act, 2025, the Licensing & Authorisation Act, 2025, the Market Conduct & Consumer Protection Act, 2025, the Complaints, Investigations & Enforcement / Redress Act, 2025, the Supervisory Oversight & Risk-Based Supervision Act, 2025, the NFSA Act and the NGA Act.
(2) Where another sovereign Act relies on or cross-refers to this Act for information-gathering or investigation powers, both shall be read harmoniously to give effect to their purposes.
(1) This Act applies to investigations and information-gathering undertaken by competent bodies in relation to—
- licensing, fit-and-proper and ongoing oversight of licensees;
- complaints and client redress matters falling within the remit of competent bodies; and
- suspected breaches of sovereign Acts, Rules or Codes overseen by the Authority.
(1) An investigation or inquiry under this Act may be opened where a competent body has reason to seek clarity on facts or to follow up on—
- supervisory findings or emerging risks;
- complaints or reports from clients, counterparties or whistleblowers;
- referrals from domestic or foreign authorities; or
- other credible information indicating potential non-compliance or client harm.
(1) Fact-finding work under this Act may take the form of—
- desk-based reviews of documents and data;
- targeted questionnaires and requests for information;
- onsite visits and systems walkthroughs; and
- formal investigations where more serious concerns arise.
(2) Competent bodies shall select the form of work based on the nature and scale of the risk and the need to act in a timely manner.
(1) A competent body may, by written notice, require a licensee or relevant person to provide information or documents reasonably required for the purposes of this Act or another sovereign Act overseen by the Authority.
(2) A notice shall specify the information sought, the form in which it is to be provided and the time allowed for response.
(1) For the purposes of an investigation or inquiry, a competent body may require access to books, records, systems and data maintained by a licensee or service provider used by the licensee.
(2) Access may include supervised viewing of systems, extraction of data, or copies of relevant documents, subject to confidentiality and data protection requirements.
(1) A competent body may request that relevant persons attend interviews or meetings to provide explanations regarding matters under review.
(2) Reasonable notice shall be given and the scope of topics shall be indicated where practicable.
(1) Competent bodies may engage independent experts to assist in technical reviews, systems testing or data analysis.
(2) Experts shall be subject to confidentiality obligations equivalent to those applying to staff of competent bodies.
(1) Licensees and relevant persons shall cooperate with information-gathering and investigations carried out under this Act.
(2) Cooperation includes responding honestly, fully and in a timely manner to reasonable requests made by competent bodies.
(1) Persons providing information under this Act shall take reasonable care to ensure that information is accurate and complete to the best of their knowledge at the time it is provided.
(2) Where a material inaccuracy or omission is identified after submission, the person concerned shall notify the competent body and provide corrected or additional information without undue delay.
(1) Where a person considers that requested material is subject to professional privilege or contains highly sensitive information, they shall notify the competent body and explain the basis for that view.
(2) Competent bodies shall handle such situations in a manner that respects applicable law while enabling effective fact-finding.
(1) Staff and agents of competent bodies shall treat information obtained under this Act as confidential, except as permitted by this Act or another sovereign Act.
(2) Confidential information shall not be used for purposes unrelated to the functions of the Authority or competent bodies.
(1) Information obtained under this Act may be used for—
- risk-based supervision under the Supervisory Oversight & Risk-Based Supervision Act, 2025;
- licensing and fit-and-proper decisions under the Licensing & Authorisation Act, 2025;
- actions under the Enforcement & Administrative Sanctions Act, 2025; and
- client redress processes under the Complaints, Investigations & Enforcement / Redress Act, 2025.
(1) Subject to confidentiality and data protection requirements, competent bodies may share information obtained under this Act with—
- other competent bodies in Neves; and
- foreign authorities with equivalent functions, where appropriate and lawful.
(2) Information sharing arrangements may be documented in memoranda of understanding or similar instruments.
(1) Notices seeking information under this Act shall be sufficiently clear as to scope, timelines and the legal basis relied upon.
(2) Where a licensee or relevant person is unsure about the scope of a notice, they may seek clarification from the competent body.
(1) Competent bodies shall maintain appropriate records of key steps, decisions and materials obtained during investigations and information-gathering exercises.
(2) Records may be held in electronic form, subject to secure storage standards and retention policies set by the Authority.
(1) Where information obtained under this Act will be relied upon to support significant enforcement or licensing actions, persons affected shall be given a fair opportunity to understand and respond to the factual basis, consistent with applicable Acts.
(1) Findings from investigations and information-gathering under this Act may inform risk-based supervision, enforcement and redress decisions under related Acts.
(2) Competent bodies shall document key linkages between this Act and other Acts in internal procedures.
(1) Failure to respond adequately to information requests or to cooperate with investigations may be taken into account when applying measures under the Supervisory Oversight & Risk-Based Supervision Act, 2025 or the Enforcement & Administrative Sanctions Act, 2025.
(1) Information-gathering and investigation processes already underway at the date of commencement of this Act may continue under this Act or under prior frameworks, as specified by the Authority, with due regard to fairness and legal certainty.
(1) The Minister may, on the recommendation of the Authority, make Rules or Orders for the better carrying out of the purposes of this Act, including but not limited to—
- specifying forms and minimum content for notices and requests;
- setting expectations for response times and formats;
- defining additional safeguards for handling sensitive information; and
- establishing retention and deletion periods for information obtained under this Act.
Nothing in this Act shall limit any powers or obligations arising under the Neves Licensing Authority Establishment Act, 2025, the AML / CFT & Financial Crime Prevention Act, 2025, the Licensing & Authorisation Act, 2025, the Market Conduct & Consumer Protection Act, 2025, the Complaints, Investigations & Enforcement / Redress Act, 2025, the Supervisory Oversight & Risk-Based Supervision Act, 2025, the NFSA Act, the NGA Act or any other sovereign Act overseen by the Neves Licensing Authority.
This Act shall bind the State.
Neves Licensing Authority
Neves Licensing Authority
