Commentary 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).