Chapter 3: Accountability of regulators FCA and PRA objectives and regulatory principles Section 25: Competitiveness and growth objective
This section adds new secondary objectives for the PRA and the FCA in relation to growth and international competitiveness.
	Subsection (2) inserts a new subsection (4A) into FSMA 2000 which requires the FCA to, so far as is reasonably possible, advance the competitiveness and growth objective when discharging its general functions.
	Subsection (3) inserts a new section (1EB) into FSMA 2000 which sets out what the competitiveness and growth objective is. The facilitation of the objective by the FCA is subject to the FCA aligning with relevant international standards.
	Subsection (4a) changes the title in section 2H of FSMA 2000 to account for the new secondary objective.
	Subsection (4b) substitutes the existing subsection (1) of section 2H of FSMA 2000 to add a requirement for the PRA to, so far as is reasonably possible, advance the competitiveness and growth objective when discharging its general functions.
	Subsection (4b) inserts a new section (1B) into FSMA 2000 which sets out what the competitiveness and growth objective is. The facilitation of the objective by the PRA is subject to the PRA aligning with relevant international standards.