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

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

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Photo of Chris Leslie Chris Leslie Shadow Minister (Treasury) 11:15 pm, 20th March 2012

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.