FinTech and Digital Finance: (Session 4: Operational resilience and the law)
February 2, 2023 @ 6:00 pm - 7:30 pm
Speakers: Dr Philipp Paech (LSE); Elisabeth Noble (European Banking Authority)
Overview of the Series
This co-curricular Master Class Series at LSE Law School is designed to provide students with a comprehensive introduction to regulatory and commercial law issues arising in the sphere of ‘FinTech’ and ‘Digital Finance’. Both terms are used interchangeably and refer to technology-enabled financial services and products that are either novel, or traditional and provided in structurally novel ways. FinTech and Digital Finance do not have an existence apart, rather, they are part of the continuously evolving financial market as it keeps developing.
Discussion on FinTech typically focusses on terms such as blockchain, stablecoin, CBDC, robo-advice, and mobile payment. However, to really understand these developments and identify key structural trends they are best discussed by reference to a number of – wider – central themes, notably regulatory arbitrage, the increasing use of technology, datafication, and the convergence of financial services with other markets, such as social media and e-commerce.
Our Convene Master Class Series will break down these developments and set them into their regulatory and legal context. It cuts across matters addressed in the curriculum at LSE Law School, such as financial regulation and financial law, commercial and corporate law, data regulation and competition law.
This course is open to LLM and LLB students. It is designed to be co-curricular (i.e., not part of the LLM or LLB curricula) and complement other relevant courses.
They will earn a certificate for attending 4 or more sessions, but the course will not count as credit, to put towards any degree, nor will it be examinable.
Session 4: The technological transformation of the financial sector is giving rise to new forms of interconnectedness, notably dependencies on large technology providers, including cloud service providers such as AWS, and digital platforms such Google Pay. With these interdependencies come new or elevated levels of risks, including risks of cyber attack, data loss and data corruption. In this session we will focus on efforts at the international and domestic regulatory levels to strengthen operational resilience so as to mitigate these risks.