Regulatory Alerts2023-11-23
Added · Updated
Call for Input on Potential Competition Impacts from Data Asymmetry Between Big Tech and Financial Services Firms
The Financial Conduct Authority invites comments on the potential competition impacts arising from data asymmetry between Big Tech firms and financial services firms by Monday 22 January 2024. The document seeks evidence on how Big Tech firms' data advantages, combined with financial data from initiatives like Open Banking and advanced analytics, may affect competition in UK retail and wholesale financial markets. Submissions should address the nature of this asymmetry, potential harms such as entrenched market power, and any regulatory constraints that mitigate these effects.
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