Mantzari, Despoina;
Chiu, Hse-Yu;
(2023)
Regulating Fintech and BigTech: Reconciling the Objectives of Financial Regulation and Promoting Competition.
In: Stylianou, Konstantinos and Iacovides, Marios and Lundqvist, Björn, (eds.)
Fintech Competition: Law, Policy, and Market Organisation.
(pp. 253-280).
Bloomsbury Publishing: London, UK.
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Abstract
Fintech and BigTech entrants have already made substantial inroads in some market segments and incumbent traditional financial institutions are also moving closer to a platform-based business model. The overall public policy objective is to respond to these disruptors so as to benefit from the gains while limiting the risks. But as their operations span regulatory perimeters, regimes and geographical borders, new challenges emerge both to substantive regulation and to regulatory agencies. This chapter surveys three regulatory developments in response, namely financial specialist regulatory regimes such as for online crowdfunding and in the EU, the regulation of crypto-assets; cross-cutting regulatory regimes such as the EU Digital Services Act, and regulation of artificial intelligence systems; and Bigtech-specific regulation, such as the EU’s Digital Markets Act. These developments complement and interact with each other but raise further implications regarding coherence, enforcement and institutional oversight.
| Type: | Book chapter |
|---|---|
| Title: | Regulating Fintech and BigTech: Reconciling the Objectives of Financial Regulation and Promoting Competition |
| ISBN-13: | 9781509963348 |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | https://www.bloomsbury.com/uk/fintech-competition-... |
| Language: | English |
| Additional information: | This is an Open Access chapter published under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) Licence (https://creativecommons.org/licenses/by-nc-nd/4.0/). |
| Keywords: | Fintech, BigTech, financial platforms, competition law, online crowdfunding, crypto-assets |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of Laws |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10165657 |
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