Part 1: Regulatory Framework Financial market infrastructure: piloting powers Section 14: Reports on FMI sandboxes
Subsections (1) to (7) of this section specify the reporting obligations on HM Treasury when it exercises its regulatory powers under section 13. This includes an obligation to prepare and publish a report on an iteration of an FMI sandbox to be laid before Parliament. The subsection specifies the information the report must contain by the agreed deadline. Subsection (5), imposes an express obligation on HM Treasury to engage with the relevant regulator when preparing a report and imposes an obligation on the regulator to provide HM Treasury with information it may require in preparing its report.