Competition impacts of Big Tech in retail financial services

To support the launch of our discussion paper, DP22/5: The potential competition impacts of Big Tech entry and expansion in retail financial markets, we are hosting 2 events for stakeholders with an expert panel on 28 November and 4 in-person sector-specific roundtables on 6 and 7 December.

We invite you to join us and contribute to the discussions.

Webinar: 28 November

Dr Liza Gormsen, FCA Senior Advisor, will chair an expert panel focusing on how we can work to harness the benefits of Big Tech entry and expansion while minimising the harms to consumers and competition. 

Dr Gormsen will lead discussion on:

  • views from industry, regulation and academia on recent innovations by Big Tech firms
  • ways in which future entry and expansion may occur
  • how benefits and risks may evolve in the future 

She will be joined by:

  • Professor Tommaso Valletti – Head of Department of Economics and Public Policy at Imperial College London, and FCA non-executive Board Member 
  • Daniel Schwarz – Legal Fellow at Cambridge University’s Centre for Finance, Technology & Regulation, and a practicing Senior Associate at Clifford Chance 
  • Jana Mackintosh – Managing Director, Payments and Innovation – UK Finance

Register to attend

Sector-specific roundtable discussions: 6 and 7 December

We want to hear directly from a range of stakeholders who could be impacted by Big Tech entry and expansion in financial services. The sessions provide an opportunity for you to actively engage and help inform our future regulatory approach to Big Tech. The areas of focus are:

  • Insurance
  • Consumer credit
  • Deposit taking
  • Payments

These roundtable discussions will be held in-person at our office in London Stratford. Each session will be chaired by Directors overseeing supervision and policy development for each sector. We will facilitate a discussion on the key points raised in these chapters of DP22/5:

  • The current nature of the market – how well (or not) are competitive dynamics currently working?
  • Barriers to entry and expansion – what barriers currently exist to prevent entry or expansion by Big Tech firms?
  • Our actions – how can the FCA facilitate beneficial entry and expansion, and disincentivise harmful entry and expansion?

Who should attend

These roundtables are aimed at those with responsibility for financial services, technology or consumer policy from Big Tech firms, incumbents and fintech challengers, consumer organisations and academia. Register for your preferred session by 30 November.

Register to attend