FCA publishes feedback statement on potential competition impacts of Big Tech entry and expansion in retail financial services
July 26, 2023
On 12 July 2023, the FCA published Feedback Statement 23/4: The potential competition impacts of Big tech entry and expansion in retail financial services (FS23/4). FS23/4 summarises feedback to the FCA’s October 2022 discussion paper (DP22/5) which aimed to stimulate conversation on areas where Big Tech entry is likely to create the biggest competition benefits for consumers and where there is the greatest risk of significant harm if competition does not develop effectively.