FinTech Regulation and Data Protection
| Code | School | Level | Credits | Semesters |
| BUSI4623 | Business | 4 | 10 | Spring UK |
- Code
- BUSI4623
- School
- Business
- Level
- 4
- Credits
- 10
- Semesters
- Spring UK
Summary
The module covers the following topics:
(1) financial regulation and its role in the protection of consumers and markets;
(2) financial regulation at the national and the international levels;
(3) financial regulation specific to the FinTech industry;
(4) RegTech and how it can be used in the monitoring, reporting, and compliance of FinTech firms;
(5) how data are collected, managed, stored, and monetised by FinTech firms;
(6) compliance with the General Data Protection Regulation (GDPR);
(7) cyber-crime and cyber-security.
Target Students
Available for MSc Financial Technology students and MSc Exchange students.
Classes
- One 1-hour seminar each week for 5 weeks
- One 1-hour-30-minute lecture each week for 11 weeks
Assessment
- 70% Coursework 1: 5,000-word group coursework
- 30% Coursework 2: 15 minute group presentation
Assessed by end of spring semester
Educational Aims
The module provides students with understanding of the interplay between financial innovation and regulation. In particular, the module explores how regulatory compliance of a FinTech product is a key ingredient for its success while effective regulation of the FinTech industry plays an important role in protecting the interest of consumers.Learning Outcomes
Knowledge and understanding: This module develops a knowledge and understanding of:
* Explain the roles of commercial banks in the modern economies.
* Describe the roles of banking regulatory bodies in regulating the banking industries.
* Explain the forms of technological innovations and how they allow start-up companies to compete with traditional banks.
* Describe the roles in which the banking regulatory agencies play in supervising the banking industries in modern economies.
* Discuss the need for consumer data protection and compliance with the General Data Protection Regulation (GDPR).
Intellectual Skills: This module develops:
* Critically evaluate issues relating to collecting and storing customer data.
* Critically appraise how new Financial Technology (FinTech) products can support Regulatory Technology (RegTech).
Professional Practical Skills: This module develops:
* Design policy recommendations, relating to collecting and storing customer data that are compliant with the GDPR.
Transferable (key) Skills: This module develops:
* Manage independent study and demonstrate effective planning and time-management skills.
* Critically evaluate research and information from various sources.
* Demonstrate effective written and oral communication.
* Engage responsibly in a team to support effective team performance.