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Banks See Challenges From Fintech Disruption -- this post authored by Carl White, Senior Vice President, Supervision In March, we looked at some of the consumer protection issues that have emerged as fintech firms have entered banking. This month, we are examining how these entrants have affected competition in the provision of financial services. Fintech firms have been labeled “disrupters." Whether teaming up with financial institutions or going it alone, fintech firms - or neobanks1 - are rapidly gaining market share in several areas formerly dominated by financial institutions, such as ...

SHARE The US securities regulator is considering new guidance to rein in earnings growth projections made by listed blank-cheque companies, and clarify when they qualify for certain legal protections, according to sources. The previously unreported measures being weighed by staff at the Securities and Exchange Commission (SEC) would escalate its crackdown on the deal frenzy in special purpose acquisition companies, or SPACs, which it worries is putting investors at risk. The SPAC market had already started to lose steam after the SEC earlier this month suggested warrants issued by SPACs shoul...

Press release content from PR Newswire. The AP news staff was not involved in its creation. CP sends letter to KCS reinforcing anti-competitive nature of CN proposal April 26, 2021 GMT Letter Outlines the Breadth of Horizontal Competitive Overlaps Between Canadian National and KCS Highlights Regulatory Issues with CN’s Proposal and its Expected Negative Impact on STB’s Voting Trust Analysis CALGARY, AB, April 26, 2021 /PRNewswire/ - Today, Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) announced that it recently sent a letter to the President and Chief Executive Officer of Kansas C...

In December, we looked at ways fintech companies are making inroads into banking: partnering with banks to offer their services, obtaining bank charters, or seeking alternative structures such as the industrial loan company (ILC) charter. This month we are examining some of the regulatory issues that have surfaced with these new entrants. Fintech Regulation 101 Just as with banks, there is no single licensing or regulatory agency that oversees fintech companies. Depending on their activities, they can be licensed or supervised by local, state or federal regulators on a functional, or activity...

Epic Games founder and chief executive Tim Sweeney said Apple's control of its platform had tilted the level playing field. "The 30 per cent they charge as their app tax, they can make it 50 per cent or 90 per cent or 100 per cent. Under their theory of how these markets are structured, they have every right to do that," he told reporters. "Epic is not asking any court or regulator to change this 30 per cent to some other number, only to restore competition on IOS," he said, referring to Apple's mobile operating system. The company also accused Apple of barring rivals from launching their own...