Data sharing could curb big tech dominance – FSB
Ensuring all financial market incumbents have access to same data could level the playing field
Regulators will need to rethink how data is shared among financial sector participants should a greater number of big tech firms enter the market, a report from the Financial Stability Board (FSB) advises.
The permeation of big tech firms in finance has the potential to bring benefits for both the efficiency and breadth of financial services. But there are also risks for financial stability that cannot be ignored, the report says.
Competition is a key concern, the FSB notes in its paper
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