Network Rail failed to adequately inspect and maintain the points system, which lead to the train derailment and the deaths of seven people, the jury concluded.
A spokesman for the regulator said: "We will now proceed to determine whether any criminal proceedings for health and safety offences should be brought in accordance with the Work Related Deaths Protocol."
The Crown Prosecution Service did not enact criminal proceedings in 2005 when the crash happened but had said it may do so if the seven-week inquest threw up new evidence.
Once the inquest in Letchworth ended, judge Michael Baker QC said he would be filing a report about the risk of more rail deaths in future.
Austen Kark, Emma Knights, Chia Hsin Lin, Alexander Ogunwusi, Jonael Schickler and Chia Chin Wu were all passengers on the train and were killed in the crash on May 10, 2002. Agnes Quinlivan, who was walking nearby, was killed by debris from the accident.
Around 70 people were hurt when the train from King's Cross to King's Lynn derailed at Potters Bar, Hertfordshire, at around 1pm.
The Department for Transport said it is considering the inquest verdict and will look at the coming report from the coroner which will warn about the current risk for passengers on UK railways.
A spokesman for the Association of Train Operating Companies said: "A report by the Office of Rail Regulation earlier this week confirmed that the UK railways are among the safest in Europe but we must never be complacent. Train companies will study carefully all recommendations made by the coroner."