Course Details

Financial and Emerging Tech

If we continue to develop our technology without wisdom or prudence, our servant may prove to be our executioner.Omar Bradley, Chairman of the Joint Chiefs of Staff from August 19, 1949 -August 15,1953 Developments in financial technology have precipitated dramatic changes in the financial services industry in areas as diverse as lending, wealth management, payments, and trading. Artificial intelligence, machine learning, block chain, and other technologies are fundamentally altering the way we bank (Zelle, PayPal), the way we save for retirement (Betterment), the way we borrow (SoFi, LendingClub), and even what constitutes money and property(bitcoin, Ether, zCash). Those changes bring opportunities and challenges for new and established companies, as well as for the regulators who oversee the industry. What was once a digital Wild West has given way to ever-increasing regulation and litigation.In the cryptocurrency space, for example, the SEC's DAO Report in July 2017 was the first in a series of statements and regulatory actions designed to bring clarity to what constitutes a security and to protect investors in this rapidly expanding industry. Likewise, online lenders' attempts to circumvent state usury laws led to myriad legal challenges-so-called ""true lender"" litigation. In the wake of the OCC's proposed FinTech charter, state(NYDFS) and federal regulators (OCC), squared off to determine who gets to regulate FinTech. Financial and Emerging Technologies (FinTech) and the Law will review the origins of these developments. We will seek to understand the technologies that are revolutionizing the industry, the novel legal and regulatory issues that these technologies may present, and issues that FinTech and other companies will have to deal with in the coming months and years.The seminar will help prepare students for a rapidly evolving legal and regulatory framework that will shape the future of financial services."

Catalog Number: BUSCOM 735
Additional Course Information: Experiential Learning

Course History

Fall 2019
Title: Financial and Emerging Tech
Faculty: Steffen, Justin Carey
Section: 1     Credits: 2.0
Capacity: 25     Actual: 19