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Global regulator calls for new rules to police Big Tech’s finance foray

Paper from the Bank for International Settlements suggests a “new regulatory compass” for big tech’s future move into finance

Technology companies want a larger role in the global financial system — and bank regulators are taking note.

On June 23 the Bank for International Settlements, or BIS, released a broad report on the big tech firms that are venturing into banklike businesses: Alibaba, Facebook, Amazon, Alphabet, and Tencent Holdings, to name a few.

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