Being a successful FinTech firm requires more than just great technology; it also requires an understanding of the laws and regulations applicable to your business. This course will provide you with that understanding. You will learn about the critical legal, regulatory, and policy issues associated with cryptocurrencies, initial coin offerings, online lending, new payments and wealth management technologies, and financial account aggregators. In addition, you will learn how regulatory agencies in the U.S. are continually adjusting to the emergence of new financial technologies and how one specific agency has proposed a path for FinTech firms to become regulated banks. You will also learn the basics of how banks are regulated in the U.S. If you are unfamiliar with how these new financial technologies work, fear not. We will begin each new course section with a high-level overview of the underlying technology. While the course is principally focused on the U.S. FinTech industry, we cannot possibly cover every relevant legal and regulatory issue. Therefore, this course should not be construed as legal advice. Rather, the goal of the course is to familiarize you with the key legal and regulatory challenges FinTech firms in various sectors face, as well as the critical policy debates that are occurring in Washington D.C. and state capitals across the country.
Financial Account Aggregators
Reviews
Duke University put a great spin to this course by having graphics and relevant information next to the professor while giving the lecture. I am a visual learner and this method was great!!
Great insight and perfect curriculum to understand Fintech Law and Policy. Special thanks to Mr. Lee Reiners for making such complex subject easier to understand.
The final module begins with an overview of the legal framework applicable to legacy payment systems in the U.S., followed by a review of how some FinTech firms are building on top of these systems to provide faster, more convenient, consumer payments while other FinTech firms are bypassing these systems all together by utilizing distributed ledger technology. From there we examine new technologies being deployed in the wealth management industry, including the use by some firms of “robo-advisors” to allocate investors’ portfolios using algorithms based on the investors’ data and risk preferences. You will see that robo-advisors are subject to the same oversight as traditional investment advisers. The module concludes by exploring the legal issues surrounding FinTech companies that allow consumers to aggregate the information from their various financial accounts.
Taught By
Lee Reiners, CFA
Executive Director, Global Financial Markets Center
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