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.
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
Gudula Deipenbrock
2. Smart Contracts and Civil Law Challenges: Does Legal Origins Theory Apply?
Florian Möslein
3. Fintech and the Limits of Financial Regulation: A Systemic Perspective
Saule T Omarova
4. A Regulatory Roadmap for Financial Innovation
Cristie Ford
5. FinTech and The Law & Economics of Disintermediation
Fatjon Kaja, Edoardo D Martino, Alessio M Pacces
6. Financial Technologies and Systemic Risk - Some General Economic Observations
Anja Eickstädt, Andreas Horsch
Part II Fintech and Lending
7. Fintech Credit Firms: Prospects and Uncertainties
Francesco De Pascalis
8. Fintech Credit and Consumer Financial Protection
Nikita Aggarwal
Part III Fintech and Payment Services
9. EU Payment Services Regulation and International Developments
Alan Brener
10. Current and Future Liability Concepts in European Financial Market Regulation
Marte Eidsand Kjørven
Part IV Fintech, Investment and Insurance Services
11. Robo Advice: Legal and Regulatory Challenges
Wolf-Georg Ringe, Christopher Ruof
12. Insurance and the Legal Challenges of Automated Decisions - an EU Perspective
Paola Manes
13. Exchange-traded funds (ETFs) and FinTech: Market Efficiency and Systemic Risk
Jay Cullen
Part V Fintech, Financial Inclusion and Sustainable Finance
14. FinTech, Financial Inclusion and the UN Sustainable Development Goals
Ross P Buckley, Dirk A Zetzsche, Douglas W Arner, Robin Veidt
15. Digital Transformation and Financial Inclusion
Kern Alexander, Xenia Karametaxas
16. Disintermediation in Fund-raising: Marketplace Investing Platforms and EU Financial Regulation
Eugenia Macchiavello
Part VI Cryptocurrencies and Cryptoassets
17. Cryptoassets in Private Law
Jason Grant Allen
18. Cryptocurrencies: Development and Perspectives
Michael Anderson Schillig
19. Distributed Ledger Technology and Sovereign Financing
Astrid Iversen
20. Law and Regulation for a Crypto-Market: Perpetuation or Innovation?
Joseph Lee
Part VII Markets and Trading
21. High-Frequency Trading: Regulatory and Supervisory Challenges in the Pursuit of Orderly Markets
Trude Myklebust
22. 'Trustless Distributed Ledgers and Custodial Services
Matteo Solinas
Part VIII Regtech and Suptech
23. "Computer Says No": Benefits and Challenges of RegTech
Veerle Colaert
24. Fintech, Regtech and Suptech: Institutional Challenges to the Supervisory Architecture of the Financial Markets Paola Chirulli
