- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2024-06-04T12:26:00
Plans in the United Kingdom to share Big Tech data with financial services firms could prompt other industry regulators to follow suit or result in “unintended consequences” that see Meta, Google, and others growing market share.
Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), set out during a speech in April the regulator’s plans to examine how access to Big Tech firms’ large data sets could be used by financial services firms to sell more/better products and reduce pricing.
The FCA is looking at whether Big Tech’s vast troves of consumer data could benefit the sector for activities like personalized marketing, credit scoring, and product development.
2024-11-21T18:30:00Z By Adrianne Appel
Big Tech digital payment apps will be subjected to increased oversight and requirements–similar to that of banks and credit unions–under a finalized rule by the Consumer Financial Protection Bureau.
2024-10-08T13:03:00Z By Shelby Brown
The European Union’s Digital Markets Act is forcing many Big Tech companies to postpone the launch of artificial intelligence-powered features, like Apple Intelligence, over user privacy and data security concerns.
2024-08-15T17:44:00Z By Ruth Prickett
The U.K Financial Conduct Authority published findings showing that financial services firms are implementing its guidance on politically exposed persons related to anti-money laundering inconsistently, with experts warning firms of reputational damage arising from potential enforcement.
2025-07-03T15:51:00Z By Ruth Prickett
The EU’s new strategy aims to boost SME growth and cut market barriers, but businesses doubt reforms will happen, and consumer groups fear weaker data protections.
2025-06-26T20:22:00Z By Oscar Gonzalez
In another sign of President Donald Trump’s focus on cryptocurrency, the head of the U.S. Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to create proposals to consider crypto assets for a single-family home mortgage.
2025-06-24T17:21:00Z By Ruth Prickett
Four years after Brexit, the U.K. and EU announced a “reset” that will ease barriers to importing and exporting food, drink, and agricultural produce. It may also harmonize rules around carbon emissions trading systems, simplifying compliance for multinational organizations that are large emitters, and enable more young people to gain ...
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