The FCA has published a discussion paper on the potential competition impacts that may arise from Big Tech firms’ entry and expansion into retail financial services sectors. It is seeking views on the emerging risks and opportunities so that it can ensure that benefits to consumers are harnessed, and harms mitigated.
The FCA has asked for comments on the discussion paper by 15 January 2023.
Alongside the discussion paper, the FCA is hosting a webinar on 28 November to discuss the potential impacts of Big Tech in retail financial markets.