Bank Of England: Seven Awkward Questions - Speech By Sam Woods, Deputy Governor, Prudential Regulation And Chief Executive Officer, UK Prudential Regulation Authority Given At A Roundtable To Mark The Fifth Anniversary Of The PRA's Secondary Competition Objective

Sam Wood spoke at a panel to celebrate the fifth anniversary of the Prudential Regulation Authority’s (PRA) Secondary Competition Objective (SCO). This objective requires the PRA to act, where possible, to facilitate effective competition when it makes policies to advance its primary objectives of safety and soundness, and policyholder protection.

Sam explained that, in his view, the SCO has had a profound impact on the PRA’s activities. He said that the PRA has done a lot over the past years but, as we enter the second five years, we should start a debate about the next set of questions, some of which are quite awkward.

Seven awkward questions