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Regulation of FinTech (LAWS90110)
Graduate courseworkPoints: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable (login required)(opens in new window)
Contact information
August
Lecturer(s)
Professor Jane K Winn (Coordinator)
Email: law-masters@unimelb.edu.au
Phone: 13 MELB (13 6352), International: +(61 3) 9035 5511
Website: law.unimelb.edu.au
Overview
| Availability(Quotas apply) | August |
|---|---|
| Fees | Look up fees |
In recent decades, the rate of technological innovation in financial services has accelerated, posing new challenges for regulators and regulated financial services firms around the world. This course will provide a brief introduction to the existing technologies and business models used by established financial services firms and the regulatory framework that applies to them, before examining how new technologies and new business models are transforming financial services around the world. Different law reform strategies adopted by regulators in different countries will be assessed, as will business strategies of regulated firms to accelerate their rate of innovation. As national regulators confront the challenge of protecting local consumers in global markets, they may respond by collaborating with other national regulators, with extraterritorial enforcement of their laws, collaboration with private regulators, or ceding the terrain to private regulators. Although cryptocurrencies, blockchain and distributed ledger technologies may receive the most media coverage, many other case studies of disruptive 'FinTech' innovation and its regulation in both advanced and emerging economies will be examined.
Principal topics include:
- Commercial banks and bank regulators
- Global harmonization of bank regulation
- Payment systems and payment law
- Legacy technologies and internal controls
- Economics of networks and platforms
- Economic drivers of innovation
- Better regulation and new governance
- The rise of smart machines
- Evidence-based problem solving
- 'RegTech' is the new FinTech
- Faster payments/immediate payments
- Bitcoin, blockchain, distributed ledger
- FinTech regulation in the United States; United Kingdom and European Union; China; and India.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have a sophisticated understanding of the strengths and weaknesses of the modern business of banking, the conventional approach to banking regulation, and role of commercial banks in modern economies
- Have an advanced and integrated understanding the most important forms of technological innovations that are disrupting modern financial markets by making it feasible for start-up companies to compete with banks
- Be able to assess in a critical and sophisticated manner the functions of global governance institutions including how to distinguish them from conventional modern national regulation and multilateral coordination among national regulators
- Develop a specialised understanding of how the customers and consumers of conventional financial services are being converted into users and stakeholders by new service delivery models and channels
- Have a detailed understanding of how risks and rewards are allocated among the different participants in conventional and disruptive financial services under conventional regulatory frameworks, new governance frameworks, and private agreements
- Be able to assess in an advanced and integrated manner the strengths and weaknesses of public, private, global and local systems of regulating financial services
- Have a sophisticated appreciation of the major themes of the course and their relevance to the different topics in the syllabus.
Last updated: 29 February 2024
Eligibility and requirements
Prerequisites
Corequisites
Non-allowed subjects
Recommended background knowledge
Some knowledge of commercial law is recommended.
Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 29 February 2024
Assessment
| Description | Timing | Percentage |
|---|---|---|
Assessment 1: Class participation | Throughout the teaching period | 10% |
Assessment 2, Option 1: Take-home examination
| 11 - 14 October 2024 | 90% |
Assessment 2, Option 2: Research paper on topic approved by the subject coordinator
| 6 November 2024 | 90% |
| Hurdle requirement: A minimum of 75% attendance. | Throughout the teaching period | N/A |
Additional details
Note: Students must choose assessment from the options listed above. If an option contains parts, all parts must be completed if that option is chosen.
Last updated: 29 February 2024
Quotas apply to this subject
Dates & times
- August
Principal coordinator Jane Winn Mode of delivery On Campus (Parkville) Contact hours Total time commitment 150 hours Pre teaching start date 24 July 2024 Pre teaching requirements Please refer to the Reading Guide on the LMS subject page for confirmation of which resources need to be read and what other preparation is required before the teaching period commences Teaching period 21 August 2024 to 27 August 2024 Last self-enrol date 29 July 2024 Census date 22 August 2024 Last date to withdraw without fail 4 October 2024 Assessment period ends 6 November 2024 August contact information
Lecturer(s)
Professor Jane K Winn (Coordinator)
Email: law-masters@unimelb.edu.au
Phone: 13 MELB (13 6352), International: +(61 3) 9035 5511
Website: law.unimelb.edu.au
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Additional delivery details
This subject has a quota of 30 students.
Enrolment is on a 'first in' basis. Waitlists are maintained for subjects that are fully subscribed.
Students should note priority of waitlisted places in subjects will be given as follows:
- To currently enrolled Graduate Diploma and Masters students with a satisfactory record in their degree
- To other students enrolling on a single subject basis, eg Community Access Program (CAP) students, cross-institutional study and cross-faculty study.
Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Melbourne Law School may reserve places in a subject for incoming international cohorts or where a subject is core to a specialisation with limited alternate options.
Last updated: 29 February 2024
Further information
- Texts
Prescribed texts
Specialist materials will be made available via the LMS in the pre-teaching period.
- Links to additional information
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-masters@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 29 February 2024