UK government rejects competition 'primacy' for PRA

The UK government has ridden to the rescue of the Prudential
Regulation Authority (PRA) by opposing a proposal to put promoting
competition at the top of the regulator's "to-do"
list.
The Treasury was responding to the cross-party Treasury Select
Committee (TSC)'sOctober report about the Solvency II insurance capital
framework. The report was critical of the PRA in several areas and
accused the regulator of being intransigent about reforms to the
EU-wide system.The TSC in October also called for