Financial Market Infrastructures Bill

  • enacted
16 Regulator’s power to require information to be reviewed

(1)

This section applies if—

(a)

information is given to the regulator under section 14 in relation to an FMI; and

(b)

the regulator has reasonable grounds to believe that the information is inadequate or inaccurate.

(2)

The regulator may, by notice, require an operator, a participant, or an indirect participant of the FMI—

(a)

to obtain a review of the information within the period, and otherwise in the manner, specified in the notice; and

(b)

to give the results of the review to the regulator.

(3)

The review must be carried out by a suitably qualified independent person approved by the regulator.

(4)

See section 146 for supplementary provisions about giving the results of the review to the regulator.