FinTech and the law

About the course

Less than a decade after the Financial Crisis, innovations in finance have radically reshaped the modern economy. The rapid application of technology, big data and algorithms on banking, lending and investing has led to the emergence of a new industry, the so-called FinTech industry. FinTech companies compete in the marketplace of traditional financial institutions and intermediaries in the delivery of financial services. Furthermore, the rise of peer-to-peer lending platforms and solutions over social networks and email as well as robo-advice challenge the traditional banking model and more generally the financial services industry.

Against the evolving intersection of technology and finance, the course seeks to introduce lawyers and the general public to the way the FinTech industry is organised, its various business models and the way leading FinTech companies think of their interaction with the legal system. This course will also involve regulators and lawyers who will bring their own perspective on these questions. We conceive this course as a meeting point between the industry, regulators and legal practice to reflect on the regulatory future of this highly evolving industry.

We also aim to take a practical perspective and provide detailed guidance on the various legal issues that fintech start-ups will need to tackle when considering launching their operations. This involves compliance with financial regulation rules, the company performing a detailed analysis of its business model with regard to applicable financial regulation so as to seek appropriate licences or approvals, or designing its business model so as not to become a regulated entity, the protection of its technology and innovations, the management of its customers’ data in compliance with data protection rules, entering into various commercial collaborations and investment opportunities. All these aspects will be examined by industry experts and regulators.

The seminar will consist of three segments:

1. Part I, led by FinTech leaders from London and Berlin will provide a mapping of the FinTech industry and the role start-up companies and financial institutions play in this new ecosystem.
2. Part II, led by leading lawyers in the sector will explore the legal issues that have emerged or may emerge in the context of FinTech.
3. Part III will bring together regulators and industry leaders to examine the evolving role of regulators in the regulation of FinTech and in safeguarding and promoting innovation.

Teachers/Presenters include:

• Simon Deane-Johns, Consultant Solicitor, Keystone Legal
• Bob Ferguson, Head of Project Innovate, FCA
• Nick Hungerford, Founder and Director of Nutmeg
• Robert Kilian, General Counsel, N26 Bank
• Prof. Ioannis Lianos, UCL
• Dr Despoina Mantzari, University of Reading
• Michael McKee, Partner, DLA Piper
• John Salmon, Partner, Hogan Lovells LLP
• Paul Smith, Head of Regulatory Strategy and Policy, Payment Systems Regulator
• Victor Trokoudes, Co-founder & CEO of Plum

Schedule

15:00 registration
15:20 Panel 1
16:10: break
16.30 Panel 2
17:40 Panel 3
19:00 reception

Who should attend

The course mainly designed for specialists and generalists in financial regulation, financial services and banking but should also be informative for anyone who works for, invests in, must interact with the emerging FinTech industry.

There are no pre-requisites for attending this course. Materials will be distributed before the course.

Queries

Please email the UCL Laws events team on laws-events@ucl.ac.uk