Course Catalogue

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This course seeks to provide a foundational understanding of the interdisciplinary field of 'FinTech Regulation'.

As a first step, the course begins with a high-level introduction to the transformative role of financial and technological innovation in the financial services industry. This prior knowledge will be essential to approach the multifaceted issues of law, regulation, and governance confronting this fast-evolving economic sector.

After covering more general considerations on the relationship between law, finance, and technology, this course aims to explore the legal and regulatory challenges introduced by FinTech through various use cases in the areas of payments, banking, capital markets, as well as financial regulation and supervision. In this context, the specific role of innovative technologies such as artificial intelligence, machine learning, Big Data, distributed ledger technology, blockchain, and the Internet of Things is also examined.

Lastly, the course aims to analyse emerging regulatory frameworks among the most influential legal systems in the world, including innovative regulatory approaches such as so-called 'regulatory sandboxes'.

10 seminars of 2 hours each.

The course is open to all students subject to the requirements of the LLM Programmes in which they are enrolled.

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The course is assessed by a coursework of 1500 words (25%) and a 2-hour final online and open-book examination (75%). The latter is subject to University and School of Law supporting online examinations for the LLM. If not, the examination will take place in person.

The course aims to provide a foundational understanding of all of the core legal and regulatory aspects relating to the area of Financial Technology (FinTech). More specifically, the course offers a critical analysis and evaluation of:

a) The nature and role of technology innovation and digitalisation in finance (and beyond);

b) Both opportunities and challenges for law and regulation brought about by FinTech;

c) Emerging regulatory approaches addressing FinTech and related technologies;

d) State-of-the-art scholarship on FinTech.

By the end of this course, students will be able to:

1. Identify, reflect on, and explain legal and regulatory issues related to the most prominent FinTech use cases, including in payments, banking, capital markets, regulatory technology (RegTech), and supervisory technology (SupTech).

2. Critically analyse how existing regulatory frameworks may serve as a facilitator or a constraint to the future development of FinTech-related markets, business models, products, and services.

3. Demonstrate expertise in technology-related aspects relevant to financial regulation, data regulation, competition, cybersecurity, and consumer protection, among other fields.

4. Engage with cutting edge research on emerging issues in FinTech.

5. Produce sustained arguments based on various sources related to FinTech and its regulation. 

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.