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Western EuropeDecember 12 2022

UK regulators ask how big tech could transform financial services

Amid a hastening surge of big tech firms into the financial services space, the question of regulatory reform is becoming ever more critical. By Katherine Kirrage, Nikki Worden, John Buyers and Ashley Hurst of international law firm Osborne Clarke.

by Katherine Kirrage, Nikki Worden, John Buyers and Ashley Hurst

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UK regulators ask how big tech could transform financial services

The UK’s Financial Conduct Authority (FCA) is leading discussions into early 2023 on the future regulation of the financial services sector as a result of digitalisation.

The FCA, with the publication of a discussion paper on October 25, is seeking views on the potential competition benefits and harms from big tech firms’ entry into retail financial services.

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