With increased focus on the expanded reach of technology firms within financial services, and with renewed debate on entity and activity based approaches to regulation, Financial Stability Institute (FSI) Chairman Fernando Restoy joined us to discuss the recent FSI report ‘Fintech regulation: how to achieve a level playing field’.
The FSI’s very timely report explores the growing impact of BigTech firms in the market, and what this means for the multiple public policy goals of financial stability, market integrity, fair competition and consumer protection. The report also considers some potential approaches for pursuing this suite of policy priorities, specifically including the roles for entity-based prudential rules for banks, scrutiny of specific activities, and expanded focus on tech firms entities that participate in financial services.
Fernando gave his remarks, which was followed by a discussion with these prominent industry discussants:
- Annerie Vreugdenhil, Head of ING Neo and Chief Innovation Officer, ING
- Lisa Rabbe, Chief Government and Public Affairs Officer, Moody’s
- Brad Carr, Managing Director, Digital Finance, IIF (moderator)
- Andres Portilla, Managing Director, Regulatory Affairs, IIF (moderator)