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Module

Law for FinTech

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.

Full module specification

Module title:Law for FinTech
Module code:BEEM159
Module level:M
Academic year:2022/3
Module lecturers:
  • Duncan Perry - Convenor
Module credit:15
ECTS value:

7.5

Pre-requisites:

This module is only available for students enrolled on the MSc Fintech programme. 

Co-requisites:

None

Duration of module: Duration (weeks) - term 2:

11

Module aims

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.

ILO: Module-specific skills

  • 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

  • 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

  • 5. demonstrate analytical and critical thinking skills
  • 6. draft and present a professional report

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
161340

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Contact hours11 hours11 x 1 hour lectures
Contact hours5 hours5 x 1 hour tutorials
Guided Independent Study134 hoursPre and post session reading. Assignment preparation.

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Participation in group workSeminars and 20 minute report back1-6In class verbal feedback

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
80200

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Assignment802500 words1-6Written feedback
Mid Term Exam2050 minutes1-5Verbal feedback & indicative answers
0
0
0
0

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
AssignmentAssignment1-6Next re-assessment period
Mid-Term Exam Mid-Term Exam1-5Next re-assessment period

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.

Indicative learning resources - Basic reading

Basic reading:

Loesch, S. (2018). A Guide to Financial Regulation for Fintech Entrepreneurs. Wiley

 

Module has an active ELE page?

Yes

Origin date

10/03/2022

Last revision date

08/06/2022