(1) Without prejudice to its powers under these Regulations, the Bank may subject to paragraph (2), appoint one or more inspectors to investigate and report on any or all of the following:

(a) the affairs and conduct of the business of an investment firm, market operator or data reporting service provider or other undertaking which is, or was at the relevant time, an associated or related undertaking of an investment firm or the market operator of a regulated market or data reporting service provider, or any particular aspect of such business;

(b) compliance of the investment firm, market operator or data reporting service provider with all or any of the following:

(i) conditions or requirements or both imposed by the Bank under these Regulations;

(ii) rules or codes of conduct set out or approved by the Bank under these Regulations;

(iii) any condition provided in, or requirement of, these Regulations;

(iv) rules or requirements set out or approved by the Bank, with respect to clients' funds and client financial instruments;