This course will introduce students to the legal and economic issues raised by financial technology (FinTech). Problems in dealing with disruptive innovations will be highlighted and answers sought. For example, new payment service providers, such as PayPal, operate from one or two jurisdictions and offer their services around the world. This model creates immense challenges for supervisors and regulators. The questions they are confronting are the possibility of applying regulatory standards extraterritoriality, the exchange of information with other nation's authorities and the deference to foreign standards. Even more complex issues arise from the emergence of cryptocurrencies, robo-advisors and crowdfunding platforms. These questions will be examined, as well as the evolving response of global regulatory coordination and cooperation.
3 ECTS credits