FINANCIAL REGULATION AND FINTECH POLICY - 2022/3
Module code: LAW3138
In light of the Covid-19 pandemic the University has revised its courses to incorporate the ‘Hybrid Learning Experience’ in a departure from previous academic years and previously published information. The University has changed the delivery (and in some cases the content) of its programmes. Further information on the general principles of hybrid learning can be found at: Hybrid learning experience | University of Surrey.
We have updated key module information regarding the pattern of assessment and overall student workload to inform student module choices. We are currently working on bringing remaining published information up to date to reflect current practice during the academic year 2021/22.
This means that some information within the programme and module catalogue will be subject to change. Current students are invited to contact their Programme Leader or Academic Hive with any questions relating to the information available.
This module provides an overview of financial regulation including regulation of banking, capital markets, consumer finance, and payments. It introduces the regulatory frameworks for each of these areas and the policy considerations that animate regulatory policy. The module also examines the impact of financial regulation on emerging FinTech businesses and considers the ways in which new technology challenges traditional models of financial regulation.
School of Law
LINDSAY Ira (Schl of Law)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 6
Module cap (Maximum number of students): N/A
Overall student workload
Independent Learning Hours: 68
Seminar Hours: 22
Tutorial Hours: 6
Guided Learning: 32
Captured Content: 22
Prerequisites / Co-requisites
Part I: Financial Regulation
- Banking regulation
- Insurance regulation
- Securities regulation
- Consumer finance including credit cards, personal loans and mortgages
- Financial payments anti-money laundering regulations
Part II: Issues in regulation of FinTech
- Crowdfunding and peer-to-peer lending
- Algorithmic trading and systemic risk
- Online banking, lending and insurance
|Assessment type||Unit of assessment||Weighting|
|Examination Online||24 HOUR ONLINE EXAM||100|
The assessment strategy is designed to provide students with the opportunity to demonstrate:
- Knowledge of the main features of important financial regulatory schemes
- Understanding of the theory of financial regulation
- Ability to analyze how financial regulations apply to fact-patterns
- Appreciation of the challenges posed by new technology for financial regulation
- Understanding of the ways in which financial regulation might be a barrier to or impetus for adoption of FinTech
Thus, the summative assessment for this module consists of:
- A take-home examination to be completed over 24 hours during the exam period consisting of two to four questions with a word limit of approximately 3,000 words in total (addresses learning outcomes 1, 2, 3, 4, 5, 6 and 7)
Formative assessment and feedback
Essay Assessment – 1500 words
Students will be provided with opportunities to receive written and/or oral feedback mid-semester on their formative assignment in order to prepare for the summative assessment. Formative essay questions will be of a similar type to those found on the final exam.
- Introduce the main forms of financial regulation relevant for FinTech including regulation of banking, insurance, retail investments, securities, consumer finance, and payments
- Appreciate the problems to which regulation in each of these areas responds
- Evaluate the regulatory strategies used in each of these areas
- Consider the extent to which industry changes caused by FinTech are putting pressure on the existing approaches to financial regulation
- Analyze the extent to which financial regulation is a barrier to or opportunity for applications of new FinTech
|001||Explain the major regulatory regimes to which the financial services sector is subject with particular emphasis on UK and EU rules, with reference to US and Chinese rules for comparative purposes||KP|
|002||Analyze the market failures to which financial regulation responds and the strategies used to address these market failures||KC|
|003||Apply financial regulations to fact patterns, especially those involving new technology in the financial sector, to draw legal conclusions||CPT|
|004||Evaluate the impact of technological change on major regulatory schemes relevant to the financial services industry||CT|
|005||Explain how financial regulation can hinder, advance or shape the deployment of new technology in the financial sector||KCP|
|006||Relate regulatory frameworks to ethical and policy questions implicated by these regulations||KCP|
|007||Produce high quality persuasive writing||T|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Methods of Teaching / Learning
Seminars adopt a flexible learning approach, with a combination of mini-lectures, interactive discussions and group project work, delivered by academics with room for 1-2 visiting members of industry where appropriate. Tutorials will enable students to discuss problem questions and essay questions both with the instructor and in groups.
Instructors will use seminars to convey basic knowledge of the legal frameworks and of regulatory theory. This will be supplemented by in-depth discussion of controversial issues in regulatory policy. Students will apply their knowledge of financial regulation and policy to analyse the interaction between financial regulation and FinTech both at the level of how the legal rules apply to new technology and at the level of how the legal rules should be changed in response to technological changes. This will develop students’ ability to do both legal and policy analysis and to see how the two forms of analysis are interrelated.
The learning and teaching methods would typically comprise:
· 2 hour seminars X 11 weeks = 22 seminar hours
· 1 hour tutorials X 6 weeks = 6 tutorial hours
Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.
Upon accessing the reading list, please search for the module using the module code: LAW3138
Programmes this module appears in
|Law with Criminology LLB (Hons)||2||Optional||A weighted aggregate mark of 40% is required to pass the module|
|Law (Law and Technology Pathway) LLB (Hons)||2||Optional||A weighted aggregate mark of 40% is required to pass the module|
|Law (Philosophy, Politics and Law Pathway) LLB (Hons)||2||Optional||A weighted aggregate mark of 40% is required to pass the module|
|Law LLB (Hons)||2||Optional||A weighted aggregate mark of 40% is required to pass the module|
|Law with International Relations LLB (Hons)||2||Optional||A weighted aggregate mark of 40% is required to pass the module|
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2022/3 academic year.