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;
- external co-ordination with competition regulators; and
- external communication.
(Source: PRA responds on competition findings)