Current regulation ‘not fully fit’ to handle big tech

- Central Banking Newsdesk
- 09 Feb 2023

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Existing regulatory frameworks are “not fully fit for purpose” in dealing with the “unique set of challenges” posed by big tech firms, Agustín Carstens said on February 8.

The Bank for International Settlements general manager urged regulators to target big tech directly with new regulations, rather than trying to fit them into the current framework.

Big tech firms, Carstens noted, are uniquely positions as platforms for gathering and handling data, which gives them a strong position to move

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to print this content. Please contact info@centralbanking.com to find out more.

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@centralbanking.com

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@centralbanking.com