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Financial regulation of FinTech

Author

Listed:
  • Treleaven, Philip

    (University College London)

Abstract

Effective financial regulation is clearly crucial to innovation and the future success of the financial services industry and, in specific, FinTech. 1 There are also unprecedented opportunities for reforming regulation and also creating new businesses in the process. Examples include: using “big data” regulatory online reporting and analytics to streamline reporting; and stimulating a new generation of “RegTech” companies to provide the regulatory/compliance software. This paper reviews the current regulatory pressures faced by the financial services industry, and discusses new “big data” approaches to regulating financial companies. Three actions are highlighted: a) an open-source platform for FinTech regulation, b) a regulatory XML to help standardize reporting and c) an overarching international standards body. Lastly, we examine responses by the U.K. Financial Conduct Authority (FCA), such as Project Innovate.

Suggested Citation

  • Treleaven, Philip, 2015. "Financial regulation of FinTech," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(3), pages 114-121.
    • Handle: RePEc:ris:jofipe:0090
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    Citations

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    Cited by:

    1. Peng, Hongfeng & Ji, Jiao & Sun, Hanwen & Xu, Haofeng, 2023. "Legal enforcement and fintech credit: International evidence," Journal of Empirical Finance, Elsevier, vol. 72(C), pages 214-231.
    2. Mustafa Raza Rabbani & Shahnawaz Khan & Eleftherios I. Thalassinos, 2020. "FinTech, Blockchain and Islamic Finance: An Extensive Literature Review," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 65-86.
    3. Jorge Alberto Padilla Sánchez, 2019. "Crowdfunding. Análisis del marco regulatorio de la financiación colaborativa en Colombia," Books, Universidad Externado de Colombia, Facultad de Derecho, number 1112.
    4. Xuan, Siyuan & Ge, Wenfeng & Yang, Ping & Zhang, Yunfeng, 2024. "Exploring digital finance, financial regulations and carbon emission nexus: New insight from resources efficiency, industrial structure and green innovation in China," Resources Policy, Elsevier, vol. 88(C).
    5. Gębski, Łukasz, 2021. "FinTech i FinReg - nowe wyzwania dla systemu regulacji rynku finansowego w Polsce i na świecie," Studia z Polityki Publicznej / Public Policy Studies, Warsaw School of Economics, vol. 8(1), pages 1-13, April.
    6. Albulena SHALA & Rezearta PERRI, 2022. "Regulatory barriers for fintech companies in Central and Eastern Europe," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 13, pages 292-316, December.
    7. Tianlei Pi & Haoxuan Hu & Jingyi Lu & Xue Chen, 2022. "The Analysis of Fintech Risks in China: Based on Fuzzy Models," Mathematics, MDPI, vol. 10(9), pages 1-13, April.
    8. Xinmin Liu & Xinjiang Wang & Wencheng Yu, 2023. "Opportunity or Challenge? Research on the Influence of Digital Finance on Digital Transformation of Agribusiness," Sustainability, MDPI, vol. 15(2), pages 1-17, January.
    9. Bonga-Bonga, Lumengo & Kirsten, Frederich, 2024. "Renewable energy generation and financial market dynamics in Europe: a disaggregated approach," MPRA Paper 122461, University Library of Munich, Germany.
    10. Ozili, Peterson K, 2020. "Contesting digital finance for the poor," MPRA Paper 101812, University Library of Munich, Germany.
    11. Anil Savio Kavuri & Alistair Milne, 2019. "FinTech and the future of financial services: What are the research gaps?," CAMA Working Papers 2019-18, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.

    More about this item

    Keywords

    FinTech; financial regulations;

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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