Legal and Regulatory Developments in the Fintech Industry (Update)

The explosion of the financial technology or “fintech” industry has been of the most notable developments of the global financial services industry in recent years. The fintech industry is comprised of companies that make use of new technologies to provide financial services traditionally offered by banks, companies that partner with banks to provide financial services using innovative technologies, and other companies that provide financial technology services.

The regulatory framework for fintech is made up of a number of federal and state laws and regulations and is quickly evolving. This course, taught by Covington & Burling Partner Mike Nonaka, provides an introduction to the fintech industry, its regulation, and recent hot topics and transactions affecting the industry.

Learning Objectives:

1. Appreciate the meaning of “fintech” and a sampling of key fintech-related products and services (e.g., virtual currencies, online marketplace lending, payment technologies, blockchain and other distributed ledger technologies, initial coin offerings)
2. Review select financial services regulatory regimes that apply to fintech, including relevant regulatory agencies, laws, regulations, and guidance
3. Discuss selected hot topics affecting the legal and regulatory landscape for fintech, including recent litigation regarding the OCC’s proposal to offer a special purpose national bank charter for fintech companies, the CFTC fintech initiative, the New York license for bitcoin-related companies, New York’s interest in regulating marketplace lending, and regulatory agencies’ reactions to blockchain technology
4. Walk through recent case studies of fintech investments and other transactions