106 Investigations into regulatory failure
Financial Services (Banking Reform) Act 2013 (2013 c 33) | Legislation

106  Investigations into regulatory failure

(1)     Part 5 of the Financial Services Act 2012 (inquiries and investigations) is amended as follows.

(2)     After section 76 insert—

“76A Duty of Payment Systems Regulator to investigate and report on possible regulatory failure

(1)     Subsection (3) applies where it appears to the Payment Systems Regulator that—

(a)     events have occurred in relation to a regulated payment system which had or could have had a significant adverse effect on effective competition in the interests of—

(i)     participants in the payment system, or

(ii)     those who use, or are likely to use, the services provided by the payment system, and

(b)     those

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