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Rethink needed to regulate Big Tech in finance, says BIS' Carstens

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LONDON :A rethink is needed on how to directly regulate activities of Big Tech companies in financial services given their size and influence, Bank for International Settlements General Manager Agustin Carstens said in Wednesday.Big Tech companies such as Alibaba and Amazon have been involved for some time in

LONDON :A rethink is needed on how to directly regulate activities of Big Tech companies in financial services given their size and influence, Bank for International Settlements General Manager Agustin Carstens said in Wednesday.

Their size and reach in social media and e-commerce means they can quickly build up market share in financial activities, Carstens said.

 

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Re-think needed to regulate Big Tech in finance, says BIS' CarstensLONDON : A 're-think' is needed on how to directly regulate activities of Big Tech companies in financial services given their size and influence, Bank for International Settlements General Manager Agustin Carstens said in Wednesday.'Without a doubt, a regulatory re-think is warranted, and we need a new p
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