FinTech and RegTech in a Nutshell, and the Future in a Sandbox

30 Pages Posted: 18 Dec 2017 Last revised: 24 Jan 2018

See all articles by Douglas W. Arner

Douglas W. Arner

The University of Hong Kong - Faculty of Law

Janos Nathan Barberis

The University of Hong Kong - Faculty of Law

Ross P. Buckley

University of New South Wales (UNSW) - Faculty of Law

Date Written: July 1, 2017

Abstract

The 2008 global financial crisis represented a pivotal moment that separated prior phases of the development of financial technology (FinTech) and regulatory technology (RegTech) from the current paradigm. Today, FinTech has entered a phase of rapid development marked by the proliferation of startups and other new entrants, such as IT and ecommerce firms that have fragmented the financial services market. This new era presents fresh challenges for regulators and highlights why the evolution of FinTech necessitates a parallel development of RegTech. In particular, regulators must develop a robust new framework that promotes innovation and market confidence, aided by the use of regulatory "sandboxes." Certain RegTech developments today are highlighting the path toward another paradigm shift, which will be marked by a reconceptualization of the nature of financial regulation.

Suggested Citation

Arner, Douglas W. and Barberis, Janos Nathan and Buckley, Ross P., FinTech and RegTech in a Nutshell, and the Future in a Sandbox (July 1, 2017). CFA Institute Research Foundation Vol. 3, Issue 4, pp. 1-20, July 2017, ISBN: 978-1-944960-25-4; University of Hong Kong Faculty of Law Research Paper No. 2017/040. Available at SSRN: https://ssrn.com/abstract=3088303 or http://dx.doi.org/10.2139/ssrn.3088303

Douglas W. Arner (Contact Author)

The University of Hong Kong - Faculty of Law ( email )

Pokfulam Road
Hong Kong, Hong Kong
China

HOME PAGE: http://hub.hku.hk/rp/rp01237

Janos Nathan Barberis

The University of Hong Kong - Faculty of Law ( email )

Pokfulam Road
Hong Kong, Hong Kong
China

Ross P. Buckley

University of New South Wales (UNSW) - Faculty of Law ( email )

Sydney, New South Wales 2052
Australia

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