Regulatory AlertsFS24/1 – Potential competition impacts from the data asymmetry between Big Tech firms and firms in financial services
The UK Financial Conduct Authority issued Feedback Statement FS24/1 to address potential competition impacts arising from data asymmetry between Big Tech firms and financial services providers. The document outlines the regulator's analysis of how this imbalance may affect market dynamics and consumer welfare within the financial sector. It provides the FCA's conclusions and next steps following the consultation period that ran from November 2023 to January 2024.
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