98 Duty of regulators to ensure co-ordinated exercise of functions
Financial Services (Banking Reform) Act 2013 (2013 c 33) | Legislation

Relationship with other regulators

98  Duty of regulators to ensure co-ordinated exercise of functions

(1)     The following are regulators for the purposes of this section—

(a)     the Payment Systems Regulator;

(b)     the Bank of England;

(c)     the FCA;

(d)     the PRA.

(2)     The regulators must co-ordinate the exercise of their relevant functions (see subsection (5)) with a view to ensuring—

(a)     that each regulator consults every other regulator (where not otherwise required to do so) in connection with any proposed exercise of a relevant function in a way that may have a material adverse effect on the advancement by that other regulator of any of its objectives;

(b)     that where appropriate each regulator obtains information and advice from every other regulator in connection with the exercise of its relevant functions in

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