The Independent Evaluation Office has published a report on its findings on how PRA uses its secondary competition objective (SCO). PRA has acknowledged the report. The report raised few substantive concerns, but made a set of recommendations that PRA will consider. The recommendations focus on:

  • identification and prioritisation of competition issues;
  • clear articulation of PRA’s approach to the SCO;
  • embedding the SCO into policy-making;
  • governance;
  • external co-ordination with competition regulators; and
  • external communication.

(Source: PRA responds on competition findings)