The Prudential Regulation Authority's secondary competition objective

[...]an important advantage of the SCO is that it provides a useful check on whether prudential interventions are being applied sensibly and proportionately by considering prudential regulation through a competition lens. Since it came into effect, the PRA's SCO has helped inform the design of several important parts of the framework for prudential regulation. Since it came into effect, the secondary objective has informed the PRA's approach.