Explanatory Notes

Financial Services Act 2012

2012 CHAPTER 21

19 December 2012

Commentary

Part 5 – Inquiries and Investigations

Investigations

Section 77: Power of Treasury to require FCA or PRA to undertake investigation

536.Section 77 provides that the Treasury must require the FCA or PRA to carry out an investigation and provide the Treasury with a report if the Treasury consider that it is in the public interest to do so and it does not appear to the Treasury that the regulator has undertaken or is undertaking such an investigation. The investigation must relate to “relevant events” as defined by subsections (3) and (4).