Download This PaperEnforcing Fintech Competition: Some Reflections on Institutional Design
Forthcoming in Konstantinos Stylianou, Marios Iacovides, and Björn Lundqvist (eds), Fintech Competition: Law, Policy, and Market Organisation (Bloomsbury Hart, 2023)
22 Pages Posted: 9 Dec 2022
Date Written: November 10, 2022
Abstract
This paper focuses on institutional design aspects of the enforcement of competition law and other procompetitive regulation in fintech markets. Those interventions may prove necessary because the market entry of technology-enabled innovation may depend on accessing other (competing) market operators’ data and facilities or the enabling of data portability and interoperability of complementing financial services. Basic choices of allocating enforcement powers are identified. Five institutional design topics are discussed: bureaucratic enforcement styles and strategies; efficient use of administrative resources; motivation of staff; treatment of conflicting regulatory objectives; and legitimising elements in competition procedures.
Keywords: fintech, competition enforcement, enforcing regulation, institutional design, enforcement style, regulatory capture
JEL Classification: K20, K21, K22, K23, K42
Suggested Citation: Suggested Citation