Financial technology is rapidly changing and shaping financial services and markets. These changes are considered making the future of finance a digital one.This Handbook analyses developments in the financial services, products and markets that are being reshaped by technologically driven changes with a view to their policy, regulatory, supervisory and other legal implications. The Handbook aims to illustrate the crucial role the law has to play in tackling the revolutionary developments in the financial sector by offering a framework of legally enforceable principles and values in which such innovations might take place without threatening the acquis of financial markets law and more generally the rule of law and basic human rights.
With contributions from international leading experts, topics will include:
- Policy, High-level Principles, Trends and Perspectives
- Fintech and Lending
- Fintech and Payment Services
- Fintech, Investment and Insurance Services
- Fintech, Financial Inclusion and Sustainable Finance
- Cryptocurrencies and Cryptoassets
- Markets and Trading
- Regtech and Suptech
This Handbook will be of great relevance for practitioners and students alike, and a first reference point for academics researching in the fields of banking and financial markets law.
Table of Contents
Part I Policy, High-level Principles, Trends and Perspectives
1. Artificial Intelligence and Machine Learning in the Financial Sector – Legal-Methodological Challenges of Steering towards a Regulatory ‘Whitebox’
2. Smart Contracts and Civil Law Challenges: Does Legal Origins Theory Apply?
3. Fintech and the Limits of Financial Regulation: A Systemic Perspective
4. A Regulatory Roadmap for Financial Innovation
5. FinTech and The Law & Economics of Disintermediation
6. Financial Technologies and Systemic Risk – Some General Economic Observations
Part II Fintech and Lending
7. Fintech Credit Firms: Prospects and Uncertainties
8. Fintech Credit and Consumer Financial Protection
Part III Fintech and Payment Services
9. EU Payment Services Regulation and International Developments
10. Current and Future Liability Concepts in European Financial Market Regulation
Part IV Fintech, Investment and Insurance Services
11. Robo Advice: Legal and Regulatory Challenges
12. Insurance and the Legal Challenges of Automated Decisions - an EU Perspective
13. Exchange-traded funds (ETFs) and FinTech: Market Efficiency and Systemic Risk
Part V Fintech, Financial Inclusion and Sustainable Finance
14. FinTech, Financial Inclusion and the UN Sustainable Development Goals
15. Digital Transformation and Financial Inclusion
16. Disintermediation in Fund-raising: Marketplace Investing Platforms and EU Financial Regulation
Part VI Cryptocurrencies and Cryptoassets
17. Cryptoassets in Private Law
18. Cryptocurrencies: Development and Perspectives
19. Distributed Ledger Technology and Sovereign Financing
20. Law and Regulation for a Crypto-Market: Perpetuation or Innovation?
Part VII Markets and Trading
21. High-Frequency Trading: Regulatory and Supervisory Challenges in the Pursuit of Orderly Markets
22. ‘Trustless’ Distributed Ledgers and Custodial Services
Part VIII Regtech and Suptech
23. "Computer Says No": Benefits and Challenges of RegTech
24. Fintech, Regtech and Suptech: Institutional Challenges to the Supervisory Architecture of the Financial Markets
Iris H-Y Chiu is a professor of Corporate Law and Financial Regulation at University College London (UCL) and Director of the UCL Centre of Ethics and Law, United Kingdom (UK). She is a research fellow of the European Corporate Governance Institute, and most recently, a senior scholar at the European Central Bank’s Legal Research Programme.
Gudula Deipenbrock is a professor of Business Law at Hochschule für Technik und Wirtschaft (HTW) Berlin, University of Applied Sciences, Germany, and Associate Research Fellow 2020/2021 at Institute of Advanced Legal Studies (IALS), University of London, United Kingdom (UK).