Financial Regulation of Emerging Technologies

Not only have technology companies transformed the way people interact, but now they have started a revolution in the financial industry by seeking to replace services historically offered by banks. Traditionally, only financial institutions that took deposits were regulated as “banks.” Recently, however, new forms of bank-like service providers, – which include big data companies, social networks, startups that provide loans, alternative currency technologies, and other types of emerging technologies - have emerged. These new bank-like service providers have gradually been biting into the market share of traditional banks. This course will address issues of financial regulation, compliance, ethics, and consumer protections as they relate to such new bank-like service providers and emerging technologies. Students will examine the effectiveness and execution of the existing regulations, as well as relevant ethical issues. The course will also address the special issues that the usage and operation of such technologies raise. Relevant international guidelines and perspectives will be considered aswell.