Regulating Big Tech and Non-bank Financial Services in the Digital Era

Thammarak Moenjak and Veerathai Santiprabhob

No 154, PIER Discussion Papers from Puey Ungphakorn Institute for Economic Research

Abstract: In the digital era, new forms of non-bank entities have emerged and gained increasingly prominent roles in providing financial services. These non-bank entities, particularly those associated with non-financial conglomerates and large technology companies (BigTech) pose new challenges for financial regulators whether in terms of financial stability, level-playing field competition, or customer protection. This article discusses emerging trends in the rise of non-bank entities in the digital era, the challenges they pose, and what financial regulatory approaches can help to address those challenges. This article proposes that a holding company structure could be applied to regulate non-financial conglomerates or BigTech firms providing financial services through subsidiaries. This proposal is expected to help address regulatory concerns where existing regulatory approaches cannot adequately cope with.

Keywords: Regulation; Global Economy; Industrial Organization (search for similar items in EconPapers)
JEL-codes: G23 K21 K23 O16 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2021-06
New Economics Papers: this item is included in nep-ban, nep-fdg, nep-law, nep-pay and nep-reg
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.pier.or.th/files/dp/pier_dp_154.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pui:dpaper:154

Ordering information: This working paper can be ordered from
https://www.pier.or.th/en/dp/154/

Access Statistics for this paper

More papers in PIER Discussion Papers from Puey Ungphakorn Institute for Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by ().