Clause 70 - Duty of PRA to investigate and report on possible regulatory failure

Financial Services Bill – in a Public Bill Committee at 11:15 pm on 20th March 2012.

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Question proposed, That the clause stand part of the Bill.

Photo of Chris Leslie Chris Leslie Shadow Minister (Treasury)

This is a sensible mirroring provision, replicating for the PRA the provision for potential regulatory inquiries for the set of issues that come under its remit. We are happy to support this provision.

Question put and agreed to.

Clause 70 accordingly ordered to stand part of the Bill.

Clause 71 ordered to stand part of the Bill.