74 Duty of PRA to investigate and report on possible regulatory failure
Financial Services Act 2012 (2012 c 21) | Legislation

74  Duty of PRA to investigate and report on possible regulatory failure

(1)     Subsection (4) applies where it appears to the PRA that—

(a)     relevant public expenditure has been incurred in respect of a PRA-authorised person, and

(b)     that expenditure might not have been incurred but for a serious failure in—

(i)     the system established by FSMA 2000 for the regulation of PRA-authorised persons and their activities, so far as it relates to the functions of the PRA, or

(ii)     the operation of that system, so far as it relates

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