Financial technology (‘FinTech') is transforming finance and challenging its regulation at an unprecedented rate. Two major trends stand out in the current period of FinTech development. The first is the speed of change driven by the commoditization of technology, Big Data analytics, machine...

The AIFMD provides a harmonized European framework for regulating alternative investment funds. Prior to discussing its details, this chapter introduces to the AIFMD, discussing the developments that led to its adoption (Part 1), the AIFMD's principal objectives (Part 2) and its key tools for...

This is the introductory chapter of the latest book by the authors titled FinTech: Finance, Technology and Regulation to be published by Cambridge University Press in the second half of 2023. In this comprehensive, accessible work, Buckley, Arner and Zetzsche offer an ideal reference for anyone...

The EU Commission (DG Fisma) tasked our team to deepen the understanding of the structures and activities of "Mixed Activity Groups" (MAGs), defined as groups engaging in various sectors beyond finance, extending to the provision of financial services. The foundation for this study was...

This article develops a framework for understanding and addressing the increasing role of artificial intelligence (‘AI’) in finance. It focuses on human responsibility as central to addressing the AI ‘black box’ problem — that is, the risk of an AI producing undesirable results that...

Countries and economies around the world are seeking ways to foster their digital finance and financial technology (‘FinTech’) ecosystems to better support financial inclusion and sustainable development. At the core of such efforts are supporting the development of new products and...

After a crisis, broad and sweeping reforms are enacted to restore trust. Following the 2007-2008 Great Financial Crisis, the European Union has engaged in an ambitious overhaul of banking regulation. One of its centerpieces, the 2013 Fourth Capital Requirements Directive (CRD IV), tackles,...

Around the world, regulators and policymakers are working to support the development of financial technology (FinTech) ecosystems. As one example, over 50 jurisdictions have now established or announced “financial regulatory sandboxes”. Others have announced or established “innovation...

Libra is the first private cryptocurrency with the potential to change the worldwide payment and monetary system landscape. Due to the scale and reach provided by its affiliation with Facebook, the question will be not whether, but how, to regulate it. This short paper introduces the Libra...