Law for FinTech
| Module title | Law for FinTech |
|---|---|
| Module code | BEEM159 |
| Academic year | 2023/4 |
| Credits | 15 |
| Module staff | Duncan Perry (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 80 |
|---|
Module description
This module provides the core legal, regulatory and governance concepts and applications for the MSc FinTech programme.
With direct input from industry practitioners, you will examine how the different legal and regulatory regimes around the world operate and interact with each other.
On completion of this module, you will be highly proficient at analysing which legal and regulatory regime would be most appropriate to work within when setting up different types of FinTech. In particular you will learn how to critically evaluate a start-up idea from a legal, regulatory and governance perspective.
You will become highly competent in the practical aspects of establishing a risk framework to address legal, regulatory and governance issues within a FinTech start-up. Real case studies will be examined, looking at success stories for Challenger Banks (eg Monzo, Revolute and Kroo) and Operational Risk FinTech and RegTech companies like Acin.
Module aims - intentions of the module
This module aims to provide a platform for analytical, technical and strategic understanding of the financial regulatory environment while technology is rapidly changing the landscape.
It aims to explain how different regulatory and legal regimes around the world are interconnected and how to position a FinTech organisation to take advantage of the inconsistences and gaps through a global view of the regulatory and legal landscape.
This module will provide a step-by-step guide (from Regulatory Business Plan to ICAP and ILAP) on how to seek regulatory approval for a challenger bank within the UK.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. examine approaches to how FinTech start-ups deal with regulatory requirements
- 2. critically review and discuss a range of academic and non-academic papers reflecting on legal aspects of FinTech
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 3. analyse legal concepts within the Financial Services industry
- 4. investigate ethical dimensions of how the rule of law is applied in FinTech, and finance more broadly
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 5. demonstrate analytical and critical thinking skills
- 6. draft and present a professional report
Syllabus plan
- Examination of the current global legal and regulatory landscape with analysis of the future direction of both.
- Detailed analysis of the journey from Challenger Bank start-up to obtaining a banking licence in the UK.
- Examination of both failures (Wirecard) and successes (Starling) and the factors that differentiate them from a governance perspective.
- Examination of the importance of good governance and the role that slack governance played in the Global Financial Crisis.
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 16 | 134 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Contact hours | 11 hours | 11 x 1 hour lectures |
| Contact hours | 5 hours | 5 x 1 hour tutorials |
| Guided Independent Study | 134 hours | Pre and post session reading. Assignment preparation. |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Participation in group work | Seminars and 20 minute report back | 1-6 | In class verbal feedback |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 80 | 20 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Assignment | 80 | 2500 words | 1-6 | Written feedback |
| Mid Term Exam | 20 | 50 minutes | 1-5 | Verbal feedback & indicative answers |
| 0 | ||||
| 0 | ||||
| 0 | ||||
| 0 |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Assignment | Assignment | 1-6 | Next re-assessment period |
| Mid-Term Exam | Mid-Term Exam | 1-5 | Next re-assessment period |
Indicative learning resources - Basic reading
Basic reading:
Loesch, S. (2018). A Guide to Financial Regulation for Fintech Entrepreneurs. Wiley
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | This module is only available for students enrolled on the MSc Fintech programme. |
| Module co-requisites | None |
| NQF level (module) | 7 |
| Available as distance learning? | No |
| Origin date | 10/03/2022 |
| Last revision date | 08/06/2022 |
